Case Details

IBT Group, LLC, Constructor, Consulting and Engineering (Panamá), S.A., and International Business and Trade, LLC. v. Republic of Panama (ICSID Case No. ARB/14/33)

Subject of Dispute:

Asphalt manufacturing enterprise
Economic Sector:

Other Industry
Instrument(s) Invoked:

BIT Panama - United States of America 2000
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

IBT Group, LLC (U.S.), International Business and Trade, LLC. (U.S.), Constructor, Consulting and Engineering (Panamá), S.A. (Panamanian)
Respondent(s):

Republic of Panama (Panamanian)
Date Registered:

December 19, 2014
Date of Constitution of Tribunal:

October 7, 2015

Composition of Tribunal

President:

Jesús REMÓN (Spanish) - Appointed by the Secretary-General
Arbitrators:

Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Rodrigo OREAMUNO (Costa Rican) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Baker & McKenzie, Miami, FL, U.S.A.
Respondent(s):

Britton & Iglesias, Panama City, Panama
Oficina de Asesoría Legal del Ministerio de Obras Públicas, Panama City, Panama
Quinn Emanuel Urquhart & Sullivan, Washington D.C., U.S.A.
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

June 22, 2016 - The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1).

No References Available.

(a) Original Proceeding

Date	Development
December 19, 2014	The Secretary-General registers a request for the institution of arbitration proceedings.
February 25, 2015	Following appointment by the Claimants, Stanimir A. Alexandrov (Bulgarian) accepts his appointment as arbitrator.
April 1, 2015	Following appointment by the Respondent, Rodrigo Oreamuno (Costa Rican) accepts his appointment as arbitrator.
October 7, 2015	Following appointment by the Secretary-General, Jesús Remón Peñalver (Spanish) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Jesús Remón Peñalver (Spanish), President, appointed by the Secretary-General pursuant to the parties’ agreement; Stanimir A. Alexandrov (Bulgarian), appointed by the Claimants; and Rodrigo Oreamuno Blanco (Costa Rican), appointed by the Respondent.
October 16, 2015	The Claimants file a request for provisional measures.
November 2, 2015	The Respondent files observations on the Claimants’ request for provisional measures.
November 6, 2015	The Respondent files preliminary objections pursuant to ICSID Arbitration Rule 41(5).
November 9, 2015	The Claimants file a response to the Respondent’s observations of November 2, 2015.
November 16, 2015	The Respondent files a response to the Claimants' observations of November 9, 2015.
December 2, 2015	The President of the Tribunal holds a first session by telephone conference.
December 9, 2015	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
December 17, 2015	The Secretary-General moves that the Tribunal stay the proceeding pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
January 4, 2016	The Claimants file a response to the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
January 6, 2016	The proceeding is stayed for non-payment of the required advances pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
June 17, 2016	The proceeding is resumed following payment of the required advances.
June 22, 2016	The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1).