Case Details

Agroinsumos Ibero-Americanos, S.L. and others v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/16/23)

Subject of Dispute:

Agriculture and food products enterprise
Economic Sector:

Agriculture, Fishing & Forestry
Instrument(s) Invoked:

BIT Spain - Venezuela, Republica Bolivariana de 1995
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Agroinsumos Ibero-Americanos, S.L. (Spanish), Verica Atlántica, S.L. (Spanish), Proyefa Internacional, S.L. (Spanish), Inica Latinoamericana, S.L. (Spanish)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

July 25, 2016
Date of Constitution of Tribunal:

December 22, 2016

Composition of Tribunal

President:

Eduardo ZULETA (Colombian) - Appointed by the Parties
Arbitrators:

Horacio A. GRIGERA NAÓN (Argentine) - Appointed by the Claimant(s)
Gabriel BOTTINI (Argentine) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Baker McKenzie, Caracas, Venezuela
Freshfields Bruckhaus Deringer, New York, NY, U.S.A.
Respondent(s):

Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

March 23, 2022 - The Tribunal renders its award; attached to the award is a partial dissenting opinion by arbitrator Gabriel Bottini.

(b) Supplementary Decision and Rectification Proceeding

Applicant(s)/Requesting Party(ies):

Claimant(s)
Date Registered:

April 27, 2022 (Claimant(s))

Party Representatives

Claimant(s):

Baker & McKenzie Barcelona S. L. P., Caracas, Venezuela
Freshfields Bruckhaus Deringer - New York, NY, U.S.A. and Madrid, Spain
Altum Abogados S.C., Caracas, Venezuela
Respondent(s):

Procuraduría General de la República, Caracas, Venezuela
Guglielmino Derecho Internacional, Buenos Aires, Argentina
Status of Proceeding:

Concluded
Outcome of Proceeding:

July 12, 2022 - The Tribunal issues its decision on the request for supplementary decision and rectification of the award.

(c) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

November 16, 2022
Date of Constitution of ad hoc Committee:

February 21, 2023

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

President:

Felipe BULNES SERRANO (Chilean)
Members:

Dyalá JIMÉNEZ FIGUERES (Costa Rican)
Katherine GONZÁLEZ ARROCHA (French, Panamanian)

Party Representatives

Claimant(s):

Freshfields US, New York, NY, U.S.A.
Altum Abogados, Caracas, Venezuela
Baker & McKenzie, Caracas, Venezuela
Respondent(s):

Procuraduría General de la República, Caracas, Venezuela
De Jesús & De Jesús, Panama City, Panama, and Caracas, Venezuela
Alfredo De Jesús O. – Transnational Arbitration, Litigation & Business Law, Paris, France
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

July 31, 2024 - August 1, 2024 - The ad hoc Committee holds a hearing on annulment in Madrid.

No References Available.

(a) Original Proceeding

Date	Development
July 25, 2016	The Secretary-General registers a request for the institution of arbitration proceedings.
September 29, 2016	Following appointment by the Claimants, Horacio Grigera Naón (Argentine) accepts his appointment as arbitrator.
October 22, 2016	Following appointment by the Respondent, Gabriel Bottini (Argentine) accepts his appointment as arbitrator.
December 22, 2016	Following appointment by agreement of the parties, Eduardo Zuleta-Jaramillo (Colombian), accepts his appointment as presiding arbitrator.
December 22, 2016	The Tribunal is constituted in accordance with 37(2)(b) of the ICSID Convention. Its members are: Eduardo Zuleta-Jaramillo (Colombian), President, appointed by agreement of the parties; Horacio Grigera Naón (Argentinian), appointed by the Claimants; and Gabriel Bottini (Argentinian), appointed by the Respondent.
February 17, 2017	The Tribunal holds a first session by telephone conference.
February 28, 2017	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
July 17, 2017	The Claimants file a memorial on the merits.
December 14, 2017	The Respondent files a counter-memorial on jurisdiction and the merits.
February 2, 2018	The Tribunal issues Procedural Order No. 2 concerning production of documents.
April 14, 2018	The Claimants file a counter-memorial on jurisdiction and reply on the merits.
July 5, 2018	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
August 27, 2018	The Tribunal issues Procedural Order No. 4 concerning procedural matters.
August 31, 2018	The Respondent files a rejoinder on the merits and reply on jurisdiction.
September 18, 2018	The Tribunal issues Procedural Order No. 5 concerning procedural matters.
September 24, 2018	The Tribunal issues Procedural Order No. 6 concerning procedural matters.
October 29, 2018	The Claimants file a rejoinder on jurisdiction.
January 9, 2019	The Tribunal issues Procedural Order No. 7 concerning procedural matters.
January 23, 2019	The Tribunal issues Procedural Order No. 8 concerning procedural matters.
February 11, 2019	The Tribunal issues Procedural Order No. 9 concerning procedural matters.
February 25, 2019	The Tribunal issues Procedural Order No. 10 concerning procedural matters.
April 4, 2019	The Tribunal issues Procedural Order No. 11 concerning procedural matters.
June 7, 2019	The proceeding is suspended pursuant to the parties’ agreement.
October 3, 2019	The Claimants file a request for the Tribunal to resume the proceedings.
October 14, 2019	The Respondent files observations on the Claimants’ request of October 3, 2019.
October 18, 2019	The Claimants file a reply on its request for the Tribunal to resume the proceedings.
October 22, 2019	The Respondent files a rejoinder on Claimants’ request for the Tribunal to resume the proceedings.
November 5, 2019	The Tribunal issues Procedural Order No. 12 concerning Claimants’ request for the Tribunal to resume the proceedings.
January 13, 2020	The Tribunal issues Procedural Order No. 13 concerning procedural matters.
June 25, 2020	The Tribunal issues Procedural Order No. 14 concerning procedural matters.
October 7, 2020	The Tribunal issues Procedural Order No. 15 concerning organization of the hearing.
October 26, 2020	The Tribunal issues Procedural Order No. 16 concerning procedural matters.
November 23, 2020 - November 27, 2020	The Tribunal holds a hearing on jurisdiction, merits and quantum by video conference.
February 19, 2021	Each party files a post-hearing brief.
March 5, 2021	The Claimants file a statement of costs.
March 9, 2021	The Respondent files a statement of costs.
January 24, 2022	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
March 23, 2022	The Tribunal renders its award; attached to the award is a partial dissenting opinion by arbitrator Gabriel Bottini.

(b) Supplementary Decision and Rectification Proceeding

Date	Development
April 27, 2022	The Secretary-General registers a request for supplementary decision and rectification of the award filed by Agroinsumos Ibero-Americanos, S.L., Inica Latinoamericana, S.L., Proyefa Internacional, S.L. and Verica Atlántica, S.L.
May 25, 2022	The Bolivarian Republic of Venezuela files a response to the request for a supplementary decision and rectification of the award filed by Agroinsumos Ibero-Americanos, S.L., Inica Latinoamericana, S.L., Proyefa Internacional, S.L. and Verica Atlántica, S.L..
July 12, 2022	The Tribunal issues its decision on the request for supplementary decision and rectification of the award.

(c) Annulment Proceeding

Date	Development
November 16, 2022	The Secretary-General registers an application for annulment of the award filed by the Bolivarian Republic of Venezuela and notifies the parties of the provisional stay of enforcement of the award.
February 21, 2023	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Felipe Bulnes Serrano (Chilean), Dyalá Jiménez Figueres (Costa Rican), and Katherine González Arrocha (Panamanian/French); all members appointed by the Chairman of the Administrative Council.
April 13, 2023	The ad hoc Committee holds a first session by video conference.
April 17, 2023	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
May 15, 2023	Agroinsumos Ibero-Americanos, S.L. and others file observations on the Bolivarian Republic of Venezuela’s request to continue the stay the enforcement of the award.
June 14, 2023	The Bolivarian Republic of Venezuela files a response to Agroinsumos Ibero-Americanos, S.L. and others’ observations of May 15, 2023.
July 17, 2023	The Bolivarian Republic of Venezuela files a memorial on annulment.
July 18, 2023	The ad hoc Committee issues a decision concerning the stay of enforcement of the award.
September 15, 2023	Agroinsumos Ibero-Americanos S.L. and others file a counter-memorial on annulment.
November 6, 2023	The Bolivarian Republic of Venezuela files a reply on annulment.
December 20, 2023	Agroinsumos Ibero-Americanos, S.L. and others file a rejoinder on annulment.
June 27, 2024	The ad hoc Committee holds a pre-hearing organizational meeting with the parties by video conference.
July 2, 2024	The ad hoc Committee issues Procedural Order No. 2 concerning the organization of the hearing.
July 31, 2024 - August 1, 2024	The ad hoc Committee holds a hearing on annulment in Madrid.