Case Details

Hanocal Holding B.V. and IPIC International B.V. v. Republic of Korea (ICSID Case No. ARB/15/17)

Subject of Dispute:

Oil refinery, production and distribution of petrochemical products
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

BIT Netherlands - Korea, Republic of 2003
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Hanocal Holding B.V. (Dutch), IPIC International B.V. (Dutch)
Respondent(s):

Republic of Korea (Korean)
Date Registered:

May 20, 2015
Date of Constitution of Tribunal:

March 16, 2016

Composition of Tribunal

President:

Klaus SACHS (German) - Appointed by the Secretary-General
Arbitrators:

Gary B. BORN (U.S.) - Appointed by the Claimant(s)
William W. PARK (Swiss, U.S.) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

White & Case, Washington, D.C., U.S.A.
Respondent(s):

Debevoise & Plimpton, London, U.K.
Kim & Chang, Seoul, Republic of Korea
National Tax Service, Seoul, Republic of Korea
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

October 5, 2016 - The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44.

No References Available.

(a) Original Proceeding

Date	Development
May 20, 2015	The Secretary-General registers a request for the institution of arbitration proceedings.
August 11, 2015	Following appointment by the Claimants, Gary Born (U.S.) accepts his appointment as arbitrator.
September 24, 2015	Following appointment by the Respondent, William W. Park (Swiss/U.S.) accepts his appointment as arbitrator.
March 16, 2016	Following appointment by the Secretary-General pursuant to the Parties’ agreement, Klaus Sachs (German) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Klaus Sachs (German), President, appointed by the Secretary-General pursuant to the parties’ agreement; Gary B. Born (U.S.), appointed by the Claimants; and William W. Park (Swiss/U.S.), appointed by the Respondent.
April 21, 2016	The Tribunal holds a first session by telephone conference.
May 11, 2016	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
July 26, 2016	The Claimants file a request for the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44.
October 5, 2016	The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 44.