Case Details

ACF Renewable Energy Limited v. Republic of Bulgaria (ICSID Case No. ARB/18/1)

Subject of Dispute:

Renewable energy generation enterprise
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

ECT (Energy Charter Treaty)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

ACF Renewable Energy Limited (Maltese)
Respondent(s):

Republic of Bulgaria (Bulgarian)
Date Registered:

February 14, 2018
Date of Constitution of Tribunal:

June 1, 2018

Composition of Tribunal

President:

Bruno SIMMA (Austrian, German) - Appointed by the Parties
Arbitrators:

Oscar M. GARIBALDI (Argentine, U.S.) - Appointed by the Claimant(s)
Pierre MAYER (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

CMS Cameron McKenna Nabarro Olswang - Bulgaria branch/Duncan Weston, Sofia, Bulgaria
King & Spalding, Washington, D.C., Texas, U.S.A. and Paris, France
Respondent(s):

Ministry of Finance, Sofia, Republic of Bulgaria
White & Case, Washington, D.C., U.S.A.
Tomov & Tomov, Sofia, Bulgaria
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

January 5, 2024 -
The Tribunal renders its award.

(a) Original Proceeding

Published Decisions

Award of the Tribunal (English;)

(a) Original Proceeding

Date	Development
February 14, 2018	The Secretary-General registers a request for the institution of arbitration proceedings.
May 11, 2018	Following appointment by the Claimant, Oscar Garibaldi (Argentina/U.S.) accepts his appointment as arbitrator.
May 16, 2018	Following appointment by the Respondent, Pierre Mayer (French) accepts his appointment as arbitrator.
June 1, 2018	Following appointment by the parties, Bruno Simma (Austrian/German) accepts his appointment as presiding arbitrator.
June 1, 2018	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Bruno Simma (Austrian/German), President, appointed by the agreement of the parties; Oscar Garibaldi (Argentine/U.S.), appointed by the Claimant; and Pierre Mayer (French), appointed by the Respondent.
August 6, 2018	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
August 15, 2018	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
August 16, 2018	The Tribunal holds a first session by telephone conference.
August 24, 2018	The Respondent files a reply on the request to address the objections to jurisdiction as a preliminary question.
August 29, 2018	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
August 31, 2018	The Claimant files a rejoinder on the request to address the objections to jurisdiction as a preliminary question.
October 11, 2018	The Tribunal issues Procedural Order No. 2 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended.
November 22, 2018	A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
December 4, 2018	Each party files observations on the non-disputing party’s application.
December 14, 2018	The Respondent files a memorial on jurisdiction.
January 16, 2019	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).
March 22, 2019	The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
March 22, 2019	The Claimant files a counter-memorial on jurisdiction.
May 14, 2019	The Respondent files a reply on jurisdiction.
July 6, 2019	The Claimant files a rejoinder on jurisdiction.
July 12, 2019	The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing.
July 23, 2019 - July 24, 2019	The Tribunal holds a hearing on jurisdiction in Washington, D.C.
December 20, 2019	The Tribunal issues a decision on jurisdiction.
April 17, 2020	The Claimant files a memorial on the merits.
October 24, 2020	The Respondent files a counter-memorial on the merits and a memorial on jurisdiction.
December 4, 2020	Following exchanges between the parties, the parties file a request for the Tribunal to decide on production of documents.
December 18, 2020	The Tribunal issues Procedural Order No. 5 concerning production of documents.
February 5, 2021	The Claimant files a reply on the merits and a counter-memorial on jurisdiction.
April 23, 2021	The Tribunal issues Procedural Order No. 6 concerning production of documents.
May 14, 2021	The Respondent files a rejoinder on the merits and a reply on jurisdiction.
May 24, 2021	The Claimant files a rejoinder on jurisdiction.
May 25, 2021	The President of the Tribunal holds a pre-hearing organizational meeting with the parties by video conference.
June 1, 2021	The Tribunal issues Procedural Order No. 7 concerning the organization of the hearing.
June 7, 2021 - June 12, 2021	The Tribunal holds a hearing on jurisdiction, merits and quantum by video conference.
October 8, 2021	Each party files a post-hearing brief.
January 28, 2022	Each Party files a submission on costs.
December 18, 2023	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
January 5, 2024	The Tribunal renders its award.