Case Details
AS PNB Banka and others v. Republic of Latvia (ICSID Case No. ARB/17/47)
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Banking enterprise
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Finance
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BIT Latvia - United Kingdom of Great Britain and Northern Ireland 1994
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ICSID Convention - Arbitration Rules
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AS PNB Banka (Latvian), Grigory Guselnikov (British), Yulia Guselnikova (British), Alexander Guselnikov (British), Aglaya Guselnikova (British), Pyotr Guselnikov (British)
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Republic of Latvia (Latvian)
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December 28, 2017
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July 5, 2018
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James SPIGELMAN (Australian) - Appointed by the Parties
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John M. TOWNSEND (U.S.) - Appointed by the Claimant(s)
Peter TOMKA (Slovak) - Appointed by the Respondent(s) -
James SPIGELMAN (Australian) - Appointed by the Parties
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Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Peter TOMKA (Slovak) - Appointed by the Respondent(s) -
September 29, 2018: John M. TOWNSEND (U.S.) appointed following the resignation of Stanimir A. ALEXANDROV (Bulgarian)
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Vigo Krastinš, Riga, Latvia
Hanefeld Rechtsanwälte, Hamburg, Germany
Verners Skrastinš, Riga, Latvia
Veronika Korom, Cergy, France
Anton Bataev
Dávid Pusztai
Alex Haines, London, U.K.
Oliver Powell, London, U.K.
Bence Spiczmuller
Kalman Varga -
State Chancellery, Riga, Latvia
Savoie Arbitration, Paris, France
LALIVE, Geneva, Switzerland -
English
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Pending
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August 10, 2023 - The Tribunal issues Procedural Order No. 26 concerning the procedural calendar.
(a) Original Proceeding
Composition of Tribunal
Initial Composition of Tribunal
Party Representatives
(a) Original Proceeding
Published Decisions
Ruling on Power of Tribunal to Issue Provisional Measures Whilst Proceedings are Suspended
Procedural Order No. 3
Decision on the Proposals to Disqualify Messrs. James Spigelman, Peter Tomka and John M. Townsend
Decision on the Intra-EU Objection
Procedural Order No. 9
Available on the ICSID Website
Ruling on Power of Tribunal to Issue Provisional Measures Whilst Proceedings are Suspended (September 24, 2018) English (Original)
Procedural Order No. 3 (October 30, 2018) English (Original)
Decision on the Proposals to Disqualify Messrs. James Spigelman, Peter Tomka and John M. Townsend (June 16, 2020) English (Original)
Decision on the Intra-EU Objection (May 14, 2021) English (Original)
Procedural Order No. 9 (August 9, 2021) English (Original)
(a) Original Proceeding
Date | Development |
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December 28, 2017 | The Secretary-General registers a request for the institution of arbitration proceedings. |
March 14, 2018 | Following appointment by the Claimants, Stanimir Alexandrov (Bulgarian) accepts his appointment as arbitrator. |
April 3, 2018 | Following appointment by the Respondent, Peter Tomka (Slovak) accepts his appointment as arbitrator. |
July 4, 2018 | Following appointment by the Parties, James Spigelman (Australian) accepts his appointment as presiding arbitrator. |
July 5, 2018 | The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: James Spigelman (Australian), President, appointed by agreement of the Parties; Stanimir Alexandrov (Bulgarian), appointed by Claimants; and Peter Tomka (Slovak), appointed by Respondent. |
July 20, 2018 | The Claimants file a request for provisional measures. |
August 3, 2018 | The Respondent files observations on the Claimants’ request for provisional measures. |
August 10, 2018 | The Claimants file a response to the Respondent’s observations of August 3, 2018. |
August 14, 2018 | The Respondent files a request to address the objections to jurisdiction as a preliminary question. |
August 16, 2018 | The Tribunal holds a first session by telephone conference. |
August 20, 2018 | The Respondent files a response on the Claimants’ observations of August 10, 2018. |
August 22, 2018 | A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2). |
August 24, 2018 | The Tribunal issues Procedural Order No. 1 concerning procedural matters. |
August 29, 2018 | The Respondent files observations on the non-disputing party’s application. |
August 29, 2018 | The Claimants file a response to the Respondent’s observations of August 20, 2018. |
August 31, 2018 | The Claimants file observations on the non-disputing party’s application. |
September 5, 2018 | The Respondent files further observations on the non-disputing party’s application. |
September 12, 2018 | The Respondent files a proposal for disqualification of arbitrator Stanimir Alexandrov. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6). |
September 17, 2018 | The Claimants file observations on the proposal for disqualification. |
September 17, 2018 | The Claimants file further observations on the non-disputing party’s application. |
September 21, 2018 | The Respondent files further observations on the proposal for disqualification. |
September 24, 2018 | The Tribunal issues a decision on procedural matters. |
September 26, 2018 | Following the resignation of arbitrator Stanimir Alexandrov, the Secretary-General notifies the parties of the vacancy on the Tribunal and the proceeding is suspended pursuant to ICSID Arbitration Rule 10(2). The Tribunal consents to the resignation of arbitrator Stanimir Alexandrov pursuant to ICSID Arbitration Rule 8(2) and the Secretary-General notifies the parties thereof. |
September 29, 2018 | Following the resignation of arbitrator Stanimir Alexandrov, John M. Townsend (U.S.) accepts his appointment as arbitrator, appointed by the Claimants in accordance with ICSID Arbitration Rule 11(1). |
September 29, 2018 | The Tribunal is reconstituted. Its members are: James Spigelman (Australian), President, appointed by agreement of the Parties in accordance with Article 37(2)(a) of the ICSID Convention; John M. Townsend (U.S.), appointed by the Claimants in accordance with ICSID Arbitration Rule 11(1); and Peter Tomka (Slovak), appointed by the Respondent. The proceeding is resumed pursuant to ICSID Arbitration Rule 12. |
September 30, 2018 | The Tribunal issues a decision on provisional measures. |
October 5, 2018 | The Respondent files further observations on the non-disputing party’s application. |
October 8, 2018 | Following the request of the Tribunal, the Parties file observations on the Tribunal’s decision on provisional measures of September 30, 2018. |
October 10, 2018 | The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question. |
October 16, 2018 | The Respondent files further observations on the Claimants’ request for provisional measures. |
October 16, 2018 | The Tribunal issues a procedural order concerning the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2). |
October 18, 2018 | The Claimants file a request for the Tribunal to decide on matters concerning participation of counsel. |
October 30, 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). |
November 5, 2018 | The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2). |
November 12, 2018 | The Respondent files observations on the Claimants’ request of October 18, 2018. |
November 16, 2018 | The Tribunal issues Procedural Order No. 4 concerning procedural matters. |
November 16, 2018 | The Respondent files a response to the Claimants’ observations of October 10, 2018. |
November 16, 2018 | The Claimants file a response to the Respondent’s further observations of October 16, 2018. |
November 19, 2018 | The Respondent files observations on the non-disputing party’s written submission. |
November 26, 2018 | The Claimants files a response to the Respondent’s observations of November 12, 2018. |
December 3, 2018 | The Claimants file observations on the non-disputing party’s written submission. |
December 3, 2018 | The Claimants file a response to the Respondent’s response of November 16, 2018. |
December 3, 2018 | The Respondent files a response to the Claimants’ response of November 16, 2018. |
December 12, 2018 - December 14, 2018 | The Tribunal holds a hearing on provisional measures, the Respondent’s request to address the objections to jurisdiction as a preliminary question, and the Claimants’ request concerning participation of counsel in The Hague. |
January 31, 2019 | Each party files a post-hearing brief. |
February 14, 2019 | Each party files a post-hearing brief. |
March 1, 2019 | The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question. |
March 16, 2019 | The Respondent files a request for the Tribunal to decide on confidentiality. |
March 21, 2019 | The Tribunal issues Procedural Order No. 5 concerning procedural matters. |
March 25, 2019 | The Claimants file observations on the Respondent’s request of March 16, 2019. |
April 17, 2019 | The Tribunal issues a decision on provisional measures. |
May 10, 2019 | The Respondent files a response to the Claimants’ observations of March 25, 2019. |
May 19, 2019 | The Respondent files a memorial on jurisdiction. |
May 22, 2019 | The Claimants file further observations on the Respondent’s response of May 10, 2019. |
May 22, 2019 | The Claimants file a memorial on the merits. |
May 28, 2019 | The Respondent files further observations on the Claimants’ observations of May 22, 2019. |
May 30, 2019 | The Claimants file a request to join the objections to jurisdiction to the merits. |
May 31, 2019 | The Claimants file further observations on the Respondent’s observations of May 28, 2019. |
June 3, 2019 | The Tribunal issues a decision on confidentiality. |
June 10, 2019 | The Respondent files observations on the request to join the objections to jurisdiction to the merits. |
June 17, 2019 | The Claimants file further observations on the request to join the objections to jurisdiction to the merits. |
June 26, 2019 | The Respondent files further observations on the request to join the objections to jurisdiction to the merits. |
July 2, 2019 | The Tribunal issues a decision on the Claimants’ request to join the objections to jurisdiction to the merits. |
July 29, 2019 | The Claimants file a counter-memorial on jurisdiction. |
August 19, 2019 | The Respondent files a reply on jurisdiction. |
August 27, 2019 | The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference. |
September 9, 2019 | The Claimants file a rejoinder on jurisdiction. |
September 10, 2019 | The Tribunal issues Procedural Order No. 6 concerning procedural matters. |
September 13, 2019 | The Tribunal issues Procedural Order No. 7 concerning the organization of the hearing. |
September 19, 2019 - September 20, 2019 | The Tribunal holds a hearing on jurisdiction in Paris. |
January 30, 2020 | The Tribunal issues Procedural Order No. 8 concerning representation of one of the Claimants. |
February 18, 2020 | The second to sixth Claimants file a proposal for disqualification of arbitrators James Spigelman, John M. Townsend and Peter Tomka. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6). |
June 16, 2020 | The proposal for disqualification of arbitrators James Spigelman, John M. Townsend and Peter Tomka is declined by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rule 9(6). |
July 9, 2020 | Each party files a first post-hearing brief. |
July 30, 2020 | Each party files a second post-hearing brief. |
August 13, 2020 | Each party files a third post-hearing brief. |
September 21, 2020 | The proceeding is stayed for non-payment of the required advances pursuant to ICSID Administrative and Financial Regulation 14(3)(d). |
January 8, 2021 | The proceeding is resumed following payment of the required advances. |
February 12, 2021 | Each party files a submission on costs. |
May 14, 2021 | The Tribunal issues a decision on jurisdiction. |
July 6, 2021 | The Tribunal holds a case management conference by video conference. |
August 9, 2021 | The Tribunal issues Procedural Order No. 9 concerning representation of one of the Claimants. |
September 10, 2021 | The Tribunal issues Procedural Order No. 10 concerning the procedural calendar. |
October 18, 2021 | The second to sixth Claimants file a memorial on the ancillary claim. |
December 17, 2021 | The Respondent files a counter-memorial on the merits. |
February 1, 2022 | The Tribunal holds a case management conference with the parties by video conference. |
February 9, 2022 | The Tribunal issues Procedural Order No. 11 concerning procedural matters. |
May 6, 2022 | The Tribunal issues Procedural Order No. 12 concerning production of documents. |
June 16, 2022 | The Tribunal issues Procedural Order No. 13 concerning production of documents. |
July 6, 2022 | The Tribunal issues Procedural Order No. 14 concerning production of documents. |
July 18, 2022 | The Tribunal issues Procedural Order No. 15 concerning production of documents. |
August 25, 2022 | The Tribunal issues Procedural Order No. 16 concerning production of documents. |
August 30, 2022 | The Tribunal issues Procedural Order No. 17 concerning the procedural calendar. |
September 16, 2022 | The Tribunal issues Procedural Order No. 18 concerning the procedural calendar. |
October 21, 2022 | The first claimant files a submission on the ancillary claim. |
October 21, 2022 | The First Claimant files a reply on the merits. |
October 21, 2022 | The Second to Sixth Claimants file a reply on the merits. |
October 25, 2022 | The Tribunal issues Procedural Order No. 19 concerning procedural matters. |
November 11, 2022 | The Second to Sixth Claimants file a supplementary submission on the merits. |
November 21, 2022 | The Tribunal issues Procedural Order No. 20 concerning procedural matters. |
March 29, 2023 | The Tribunal issues Procedural Order No. 21 concerning procedural matters. |
May 12, 2023 | The Tribunal issues Procedural Order No. 22 concerning procedural matters. |
May 15, 2023 | The Tribunal issues Procedural Order No. 23 concerning procedural matters. |
May 16, 2023 | The Tribunal holds a pre-hearing organizational meeting with the parties by video conference. |
May 22, 2023 | The Tribunal issues Procedural Order No. 24 concerning procedural matters. |
June 24, 2023 | The Tribunal issues Procedural Order No. 25 concerning the organization of the hearing. |
June 26, 2023 - July 7, 2023 | The Tribunal holds a hearing on jurisdiction and the merits in London. |
August 10, 2023 | The Tribunal issues Procedural Order No. 26 concerning the procedural calendar. |