Case Details

B.V. Belegging-Maatschappij “Far East” v. Republic of Austria (ICSID Case No. ARB/15/32)

Subject of Dispute:

Banking enterprise
Economic Sector:

Finance
Instrument(s) Invoked:

BIT Malta - Austria 2002
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

B.V. Belegging-Maatschappij “Far East” (Maltese)
Respondent(s):

Republic of Austria (Austrian)
Date Registered:

July 30, 2015
Date of Constitution of Tribunal:

November 19, 2015

Composition of Tribunal

President:

Michael C. PRYLES (Australian) - Appointed by Co-Arbitrators
Arbitrators:

Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Baker & Hostetler, Washington, D.C., U.S.A
Respondent(s):

Cleary Gottlieb Steen & Hamilton, Paris, France
Financial Procurator, Vienna, Austria
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

October 30, 2017 - The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

The Tribunal renders its award.

No References Available.

(a) Original Proceeding

Date	Development
July 30, 2015	The Secretary-General registers a request for the institution of arbitration proceedings.
September 29, 2015	Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
September 30, 2015	Following appointment by the Claimant, Stanimir A. Alexandrov (Bulgarian) accepts his appointment as arbitrator.
November 19, 2015	Following appointment by his co-arbitrators, Michael Pryles (Australian) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Michael Pryles (Australian), President, appointed by his co-arbitrators; Stanimir Alexandrov (Bulgarian), appointed by the Claimant; and Brigitte Stern (French), appointed by the Respondent.
December 8, 2015	The Claimant files a request for provisional measures.
December 18, 2015	The Claimant files a further request for provisional measures.
January 11, 2016	The Tribunal holds a first session by telephone conference.
January 22, 2016	The Respondent files observations on the Claimant’s request for provisional measures.
February 16, 2016	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
February 19, 2016	The Tribunal issues Procedural Order No. 1 concerning procedural matters. The Tribunal issues Procedural Order No. 2 concerning confidentiality. The Claimant files a response to the Respondent’s observations of January 22, 2016.
March 8, 2016	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
March 18, 2016	The Respondent files further observations on the Claimant’s response of February 19, 2016.
April 13, 2016	The Tribunal holds a hearing on provisional measures and the Respondent’s request to address the objections to jurisdiction as a preliminary question by telephone conference.
June 20, 2016	The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended. The Tribunal issues a decision on provisional measures.
September 2, 2016	The Respondent files a memorial on jurisdiction.
October 21, 2016	The Claimant files a counter-memorial on jurisdiction.
December 2, 2016	Each party files a request for the Tribunal to decide on production of documents.
December 15, 2016	The Tribunal decides on production of documents.
January 20, 2017	The Respondent files a reply on jurisdiction.
February 20, 2017	The Claimant files a rejoinder on jurisdiction.
February 22, 2017	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
February 27, 2017	The Respondent files observations on the Claimant’s request of February 22, 2017.
March 3, 2017	The Tribunal issues Procedural Order No. 3 concerning the admissibility of new evidence.
March 15, 2017	The President holds a pre-hearing organizational meeting with the parties by telephone conference.
March 21, 2017	The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing.
March 28, 2017 - March 30, 2017	The Tribunal holds a hearing on jurisdiction in Washington, D.C.
May 26, 2017	Each party files a submission on costs.
October 30, 2017	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1). The Tribunal renders its award.