Case Details

CEAC Holdings Limited v. Montenegro (ICSID Case No. ARB/14/8)

Subject of Dispute:

Aluminum production enterprise
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

BIT Montenegro - Cyprus 2005
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

CEAC Holdings Limited (Cypriot)
Respondent(s):

Montenegro (Montenegrin)
Date Registered:

March 20, 2014
Date of Constitution of Tribunal:

July 14, 2014

Composition of Tribunal

President:

Bernard HANOTIAU (Belgian) - Appointed by Co-Arbitrators
Arbitrators:

William W. PARK (Swiss, U.S.) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

King & Spalding, London, U.K.
Respondent(s):

Moravcevié Vojnovié & Partners, Belgrade, Serbia
Schönherr Rechtsanwälte GmbH, Vienna, Austria
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

July 26, 2016 - The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

The Tribunal renders its award; attached to the award is a separate opinion by arbitrator William Park.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Claimant(s)
Date Registered:

November 30, 2016
Date of Constitution of ad hoc Committee:

December 29, 2016

Composition of ad hoc Committee (Appointed by the Chairman of the Administrative Council)

President:

Christopher GREENWOOD (British)
Members:

Joongi KIM (Korean)
Tinuade OYEKUNLE (Nigerian)

Party Representatives

Claimant(s):

King & Spalding International, London, U.K.
Respondent(s):

David A. Pawlak, Warsaw, Republic of Poland
Ministry of Foreign Affairs and European Integration, Podgorica, Montenegro
Moravčević Vojnović & Partners in cooperation with Schönherr Rechtsanwälte GmbH, Belgrade, Serbia
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

May 1, 2018 - The ad hoc Committee issues its decision on annulment.

(a) Original Proceeding

Published Decisions

Award of the Tribunal

Decision on Annulment

Available on the ICSID Website

Award of the Tribunal (July 26, 2016) English (Original)

Decision on Annulment (May 1, 2018) English (Original)

(a) Original Proceeding

Date	Development
March 20, 2014	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
May 2, 2014	Following appointment by the Claimant, William W. Park (U.S./Swiss) accepts his appointment as arbitrator.
May 15, 2014	Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
July 14, 2014	Following appointment by his co-arbitrators, Bernard Hanotiau (Belgian) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Bernard Hanotiau (Belgian), President, appointed by his co-arbitrators; William W. Park (U.S./Swiss), appointed by the Claimant; and Professor Brigitte Stern (French), appointed by the Respondent.
August 12, 2014	The Respondent files preliminary objections pursuant to ICSID Arbitration Rule 41(5).
September 10, 2014	The Tribunal holds a first session by telephone conference.
September 17, 2014	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
September 22, 2014	The Claimant files observations on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
October 3, 2014	The Respondent files a reply to the Claimant’s observations of September 22, 2014.
October 17, 2014	The Claimant files a rejoinder to the Respondent’s observations of October 3, 2014.
December 11, 2014	The Tribunal holds a hearing on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) in London.
January 27, 2015	The Tribunal issues a decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
March 2, 2015	The Tribunal issues Procedural Order No. 2 concerning the procedural calendar.
April 22, 2015	The Claimant files a proposal for disqualification of arbitrator Brigitte Stern. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
May 7, 2015	The Respondent files observations on the proposal for disqualification.
May 14, 2015	The arbitrator furnishes explanations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3).
May 20, 2015	The parties file additional observations on the proposed disqualification.
June 12, 2015	The proposal for disqualification of arbitrator Brigitte Stern is declined by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rule 9(6).
June 16, 2015	As directed by the Tribunal in Procedural Order No. 2, the Claimant files a written submission on a certain issue.
September 30, 2015	The Respondent files a counter-memorial on the issue referenced in Procedural Order No. 2.
November 15, 2015	The Claimant files a reply on the issue referenced in Procedural Order No. 2.
December 31, 2015	The Respondent files a rejoinder on the issue referenced in Procedural Order No. 2.
March 22, 2016 - March 23, 2016	The Tribunal holds a hearing on the issue referenced in Procedural Order No. 2 in Paris.
July 26, 2016	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1). The Tribunal renders its award; attached to the award is a separate opinion by arbitrator William Park.

(b) Annulment Proceeding

Date	Development
November 30, 2016	The Secretary-General registers an application for annulment of the award filed by CEAC Holdings Limited, and notifies the parties of the provisional stay of enforcement of the award.
December 29, 2016	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Christopher Greenwood (British), President; Joongi Kim (Korean); and Tinuade Oyekunle (Nigerian); all members appointed by the Chairman of the Administrative Council
April 20, 2017	The ad hoc Committee holds a first session by telephone conference.
April 24, 2017	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
May 12, 2017	CEAC Holdings Limited files a memorial on annulment.
July 7, 2017	Montenegro files a counter-memorial on annulment.
August 25, 2017	CEAC Holdings Limited files a reply on annulment.
October 13, 2017	Montenegro files a rejoinder on annulment.
November 2, 2017	The President holds a pre-hearing organizational meeting with the parties by telephone conference. The ad hoc Committee issues Procedural Order No. 2 concerning the organization of the hearing.
November 29, 2017 - November 30, 2017	The ad hoc Committee holds a hearing on annulment in Paris.
January 12, 2018	Each party files a submission on costs.
March 26, 2018	The ad hoc Committee declares the proceeding closed in accordance with ICSID Arbitration Rule 53 and 38(1).
May 1, 2018	The ad hoc Committee issues its decision on annulment.