Case Details

Raiffeisen Bank International AG and Raiffeisenbank Austria d.d. v. Republic of Croatia (ICSID Case No. ARB/17/34)

Subject of Dispute:

Banking services and debt instruments
Economic Sector:

Finance
Instrument(s) Invoked:

BIT Croatia - Austria 1997
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Raiffeisenbank Austria d.d. (Croatian), Raiffeisen Bank International AG (Austrian)
Respondent(s):

Republic of Croatia (Croatian)
Date Registered:

September 15, 2017
Date of Constitution of Tribunal:

February 15, 2018

Composition of Tribunal

President:

Lucy REED (U.S.) - Appointed by the Parties
Arbitrators:

Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Lazar TOMOV (Bulgarian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Wilmer Cutler Pickering Hale & Dorr, London, U.K. and Washington, D.C., U.S.A.
Vavrovsky Heine Marth Rechtsanwälte GmbH, Vienna, Austria
Respondent(s):

Office of the Attorney General, Zagreb, Croatia
Volterra Fietta, London, U.K.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

January 8, 2021 - The proceeding is suspended until June 30, 2021, pursuant to the parties’ agreement.

No References Available.

(a) Original Proceeding

Date	Development
September 15, 2017	The Secretary-General registers a request for the institution of arbitration proceedings.
January 5, 2018	Following appointment by the Claimants, Stanimir Alexandrov (Bulgarian) accepts his appointment as arbitrator.
January 16, 2018	Following appointment by the Respondent, Lazar Tomov (Bulgarian) accepts his appointment as arbitrator.
February 15, 2018	Following appointment by agreement of the parties, Lucy Reed (U.S.) accepts her appointment as presiding arbitrator.
February 15, 2018	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are Lucy Reed (U.S.), President, appointed by agreement of the parties; Stanimir Alexandrov (Bulgarian), appointed by the Claimants; and Lazar Tomov (Bulgarian), appointed by the Respondent.
February 28, 2018	The Respondent files a proposal for disqualification of arbitrator Stanimir Alexandrov. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
March 8, 2018	The Claimants file observations on the proposal for disqualification.
March 21, 2018	The Respondent files a response to the Claimants’ observations of March 8, 2018.
May 17, 2018	The proposal for disqualification of arbitrator Stanimir Alexandrov is declined by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rule 9(6).
June 25, 2018	The Tribunal holds a first session by telephone conference.
July 19, 2018	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
September 14, 2018	The Claimants file a memorial on the merits.
November 22, 2018	A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
November 30, 2018	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
December 14, 2018	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
December 14, 2018	Each party files observations on the non-disputing party’s application.
December 21, 2018	The Tribunal issues Procedural Order No. 2 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.
December 31, 2018	The Tribunal issues Procedural Order No. 3 concerning the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
January 11, 2019	The Respondent files a request for clarification of the Tribunal’s Procedural Order No. 2.
January 14, 2019	The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
January 15, 2019	The Claimants file observations on the Respondent’s request of January 11, 2019.
February 1, 2019	The Respondent files response to Claimants’ observations of January 15, 2019.
February 7, 2019	The Tribunal issues Procedural Order No. 4 concerning the Respondent’s request of January 11, 2019.
February 14, 2019	The Respondent files a memorial on jurisdiction.
March 29, 2019	Each party files a request for the Tribunal to decide on production of documents.
April 5, 2019	The Tribunal issues Procedural Order No. 5 concerning production of documents.
May 20, 2019	The Tribunal issues Procedural Order No. 6 concerning production of documents.
May 31, 2019	The Claimants file a counter-memorial on jurisdiction.
August 9, 2019	The Respondent files a reply on jurisdiction.
October 11, 2019	The Claimants file a rejoinder on jurisdiction.
October 21, 2019	The President holds a pre-hearing organizational meeting with the parties by telephone conference.
October 24, 2019	The Tribunal issues Procedural Order No. 7 concerning the organization of the hearing.
November 4, 2019 - November 6, 2019	The Tribunal holds a hearing on preliminary objections in Washington, D.C.
December 20, 2019	The Respondent files a post-hearing brief.
February 6, 2020	The Claimants file a post-hearing brief.
September 30, 2020	The Tribunal issues a decision on an objection to jurisdiction.
November 3, 2020	The Tribunal holds a case management meeting by telephone conference.
November 5, 2020	The Tribunal issues Procedural Order No. 7 concerning the procedural calendar.
December 27, 2020	The proceeding is suspended until January 8, 2021, pursuant to the parties’ agreement.
January 8, 2021	The proceeding is suspended until June 30, 2021, pursuant to the parties’ agreement.