Case Details

Erste Group Bank AG and others v. Republic of Croatia (ICSID Case No. ARB/17/49)

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):

Erste Group Bank AG (Austrian), Steiermärkische Bank und Sparkassen AG (Austrian), Erste & Steiermärkische Bank d.d. (Croatian)
Respondent(s):

Republic of Croatia (Croatian)
Date Registered:

December 29, 2017
Date of Constitution of Tribunal:

June 22, 2018

Composition of Tribunal

President:

Andrés RIGO SUREDA (Spanish) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Andreas BUCHER (Swiss) - Appointed by the Claimant(s)
Lazar TOMOV (Bulgarian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

CMS Cameron McKenna Nabarro Olswang, London, U.K.
Respondent(s):

Volterra Fietta, London, U.K.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

January 11, 2021 - The proceeding is suspended until June 30, 2021, pursuant to the parties’ agreement.

No References Available.

(a) Original Proceeding

Date	Development
December 29, 2017	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
March 30, 2018	Following appointment by the Respondent, Lazar Tomov (Bulgaria) accepts his appointment as arbitrator.
March 31, 2018	Following appointment by the Claimants, Andreas Bucher (Switzerland) accepts his appointment as arbitrator.
June 22, 2018	Following appointment by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention, Andrés Rigo Sureda (Spanish) accepts his appointment as presiding arbitrator.
June 22, 2018	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Andrés Rigo Sureda (Spanish), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Andreas Bucher (Swiss), appointed by the Claimants; and Lazar Tomov (Bulgarian), appointed by the Respondent.
August 10, 2018	The Tribunal holds a first session by telephone conference.
August 20, 2018	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
December 21, 2018	A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
January 4, 2019	The Claimants file a memorial on the merits.
April 24, 2019	The Respondent files a memorial on jurisdiction and a request to address the objections to jurisdiction as a preliminary question.
June 18, 2019	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
July 12, 2019	The Respondent files a reply on the request to address the objections to jurisdiction as a preliminary question.
July 26, 2019	The Claimants file a rejoinder on the request to address the objections to jurisdiction as a preliminary question.
August 14, 2019	Each party files observations on the non-disputing party’s application.
September 9, 2019	The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question.
September 9, 2019	The Tribunal issues a decision on the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
October 8, 2019	The Respondent files a request to address quantum in a separate phase of the proceeding.
October 16, 2019	The Claimants file observations on the Respondent’s request to address quantum in a separate phase of the proceeding.
October 31, 2019	The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
November 4, 2019	The Tribunal issues a decision on the Respondent’s request to address quantum in a separate phase of the proceeding.
March 9, 2020	Each party files observations on the non-disputing party’s written submission.
March 9, 2020	The Respondent files a counter-memorial on the merits.
January 11, 2021	The proceeding is suspended until June 30, 2021, pursuant to the parties’ agreement.