Case Details

Gardabani Holdings B.V. and Silk Road Holdings B.V. v. Georgia (ICSID Case No. ARB/17/29)

Subject of Dispute:

Electric power generation and distribution
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

BIT Georgia - Netherlands 1998
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Silk Road Holdings B.V. (Dutch), Gardabani Holdings B.V. (Dutch)
Respondent(s):

Georgia (Georgian)
Date Registered:

August 18, 2017
Date of Constitution of Tribunal:

December 15, 2017

Composition of Tribunal

President:

Henri C. ÁLVAREZ (Canadian) - Appointed by Co-Arbitrators
Arbitrators:

Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian) - Appointed by the Respondent(s)

Initial Composition of Tribunal

President:

Henri C. ÁLVAREZ (Canadian) - Appointed by Co-Arbitrators
Arbitrators:

Horacio A. GRIGERA NAÓN (Argentine) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian) - Appointed by the Respondent(s)
Reconstituted:

February 26, 2018: Stanimir A. ALEXANDROV (Bulgarian) appointed following the resignation of Horacio A. GRIGERA NAÓN (Argentine)

Party Representatives

Claimant(s):

Freshfields Bruckhaus Deringer, Paris, France
Stonebridge Legal LLC, Moscow, Russian Federation
Dentons Georgia, Tbilisi, Georgia
Respondent(s):

White & Case, Paris, France and New York, NY, U.S.A.
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

October 27, 2022 - The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Zachary Douglas.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

March 10, 2023
Date of Constitution of ad hoc Committee:

May 4, 2023

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

President:

Alexis MOURRE (French)
Members:

Michael D. NOLAN (U.S.)
Colm Ó HOISÍN (Irish)

Party Representatives

Claimant(s):

Stonebridge Legal, Moscow, Russian Federation
Baiju Vasani
Respondent(s):

White & Case, Paris, France
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

October 25, 2024 - Each party files a submission on costs.

(a) Original Proceeding

Published Decisions

Award of the Tribunal (English;)

Dissenting Opinion of Arbitrator Zachary Douglas (English;)

(a) Original Proceeding

Date	Development
August 18, 2017	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
September 19, 2017	Following appointment by the Claimants, Horacio Grigera Naón (Argentine) accepts his appointment as arbitrator.
October 12, 2017	Following appointment by the Respondent, Zachary Douglas (Australian) accepts his appointment as arbitrator.
December 15, 2017	Following appointment by his co-arbitrators, Henri Álvarez (Canadian) accepts his appointment as presiding arbitrator.
December 15, 2017	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Henri Álvarez (Canadian), President, appointed by his co-arbitrators; Horacio Grigera Naón (Argentine), appointed by the Claimants; and Zachary Douglas (Australian), appointed by the Respondent.
February 16, 2018	Following the resignation of arbitrator Horacio Grigera Naón, the Secretary-General notifies the parties of the vacancy on the Tribunal and the proceeding is suspended pursuant to ICSID Arbitration Rule 10(2).
February 20, 2018	The Tribunal consents to the resignation of arbitrator Horacio Grigera Naón pursuant to ICSID Arbitration Rule 8(2) and the Secretary-General notifies the parties thereof.
February 23, 2018	Following the resignation of arbitrator Horacio Grigera Naón, Stanimir A. Alexandrov (Bulgarian) accepts his appointment as arbitrator, appointed by the Claimants in accordance with ICSID Arbitration Rule 11(1).
February 26, 2018	The Tribunal is reconstituted. Its members are Henri C. Álvarez (Canadian), President, appointed by his co-Arbitrators; Stanimir A. Alexandrov (Bulgarian), appointed by the Claimants in accordance with ICSID Arbitration Rule 11(1); and Zachary Douglas (Australian), appointed by the Respondent. The proceeding is resumed pursuant to ICSID Arbitration Rule 12.
June 13, 2018	The Tribunal holds a first session by telephone conference.
June 28, 2018	The Claimants file a memorial on the merits.
July 9, 2018	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
November 25, 2018	The Respondent files a counter-memorial on the merits and presents a counter-claim.
December 28, 2018	Each party files a request for the Tribunal to decide on production of documents.
January 15, 2019	The Tribunal issues Procedural Order No. 2 concerning production of documents.
March 5, 2019	The Claimants file a reply on the merits.
April 10, 2019	The Claimants file a further request for the Tribunal to decide on production of documents.
April 25, 2019	The Respondent files observations on the Claimants’ further request for the Tribunal to decide on production of documents.
May 2, 2019	The Claimants file a response to the Respondent’s observations of April 25, 2019.
May 9, 2019	The Respondent files further observations on the Claimants’ response of May 2, 2019.
May 23, 2019	The Tribunal issues Procedural Order No. 3 concerning production of documents.
June 13, 2019	The Respondent files a rejoinder on the merits.
September 10, 2019	The President holds a pre-hearing organizational meeting with the parties by telephone conference.
September 17, 2019	The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing.
October 14, 2019 - October 23, 2019	The Tribunal holds a hearing on the merits, quantum and counter-claims in Paris.
January 16, 2020	Each party files a submission on costs.
January 30, 2020	Each party files observations on the other party’s submission on costs.
July 5, 2022	Each party files a further submission on costs and interest.
September 27, 2022	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
October 27, 2022	The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Zachary Douglas.

(b) Annulment Proceeding

Date	Development
March 10, 2023	The Acting Secretary-General registers an application for partial annulment of the award filed by Georgia and notifies the parties of the provisional stay of enforcement of the award.
May 4, 2023	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Alexis Mourre (French), President; Michael D. Nolan (U.S.); and Colm Ó hOisín (Irish); all members appointed by the Chairman of the Administrative Council.
May 24, 2023	The Respondent files a request for continuation of the stay of enforcement of the award.
June 13, 2023	The Claimants file a response to Respondent’s request for continuation of the stay of enforcement of the award.
June 23, 2023	The Respondent files a reply on the request for continuation of the stay of enforcement of the award.
July 7, 2023	The Claimants file a rejoinder on the Respondent`s request for continuation of the stay of enforcement of the award.
July 12, 2023	The ad hoc Committee holds a first session and a hearing on the stay of enforcement of the award by video conference.
July 24, 2023	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
August 8, 2023	The ad hoc Committee issues a decision concerning the continuation of the stay of enforcement of the award.
October 19, 2023	Georgia files a memorial on annulment.
February 4, 2024	Gardabani Holdings B.V. and Silk Road Holdings B.V. file a counter-memorial on annulment.
April 25, 2024	Georgia files a reply on annulment.
July 18, 2024	Gardabani Holdings B.V. and Silk Road Holdings B.V. file a rejoinder on annulment.
September 19, 2024	The ad hoc Committee holds a hearing on annulment in Istanbul.
October 11, 2024	Each party files a post-hearing brief.
October 25, 2024	Each party files a submission on costs.