Case Details

LSG Building Solutions GmbH and others v. Romania (ICSID Case No. ARB/18/19)

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):

Core Value Capital GmbH (Austrian), SC LJG Green Source Energy Beta SRL (Romanian), Pressburg UK GmbH (German), Giust Ltd (Cypriot), Solluce Romania 1 B.V. (Dutch), Green Source Consulting GmbH (Austrian), Risen Energy Solar Project GmbH (German), LSG Building Solutions GmbH (Austrian), Core Value Investments GmbH & Co KG Gamma (Austrian), Anina Pro Invest Ltd (Cypriot)
Respondent(s):

Romania (Romanian)
Date Registered:

June 12, 2018
Date of Constitution of Tribunal:

January 24, 2019

Composition of Tribunal

President:

Juan FERNÁNDEZ-ARMESTO (Spanish) - Appointed by Co-Arbitrators
Arbitrators:

O. Thomas JOHNSON (U.S.) - Appointed by the Claimant(s)
Pierre-Marie DUPUY (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

King & Spalding, New York, NY, Houston, TX, U.S.A and Paris, France
Respondent(s):

Minister of Public Finance of Romania, Ministry of Public Finance, Bucharest, Romania
Curtis, Mallet-Prevost, Colt & Mosle, Paris, France and London, U.K.
Maravela & Asocia¿ii, Bucharest, Romania
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

February 20, 2024 -
The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator O. Thomas Johnson.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

June 26, 2024
Date of Constitution of ad hoc Committee:

August 12, 2024

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

President:

Penelope RIDINGS (New Zealand)
Members:

Beverley MCLACHLIN (Canadian)
Carita WALLGREN-LINDHOLM (Finnish)

Party Representatives

Claimant(s):

King & Spalding LLP, Washington, D.C., Houston, TX, U.S.A. and Paris, France
Respondent(s):

Curtis Mallet-Prevost, Colt & Mosle LLP, Paris, France
MPR Partners, Bucharest, Romania
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

April 25, 2025 -
Romania files a reply on annulment.

No References Available.

(a) Original Proceeding

Date	Development
June 12, 2018	The Secretary-General registers a request for the institution of arbitration proceedings.
September 17, 2018	Following appointment by the Claimants, O. Thomas Johnson, Jr. (U.S.) accepts his appointment as arbitrator.
October 4, 2018	Following appointment by the Respondent, Pierre-Marie Dupuy (French) accepts his appointment as arbitrator.
January 24, 2019	Following appointment by his co-arbitrators, Juan Fernández-Armesto (Spanish) accepts his appointment as presiding arbitrator.
January 24, 2019	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Juan Fernández-Armesto (Spanish), President, appointed by his co-arbitrators; O. Thomas Johnson, Jr. (U.S.), appointed by the Claimants; and Pierre-Marie Dupuy (French), appointed by the Respondent.
February 5, 2019	A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
March 18, 2019	The Tribunal holds a first session by telephone conference.
March 28, 2019	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
April 19, 2019	Each party files observations on the non-disputing party’s application.
May 13, 2019	The Tribunal issues Procedural Order No. 2 concerning the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
May 13, 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).
July 25, 2019	The Claimants file a memorial on the merits.
August 14, 2019	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
September 11, 2019	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
October 9, 2019	The Tribunal issues Procedural Order No. 3 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question.
January 24, 2020	The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
February 22, 2020	The Respondent files a counter-memorial on the merits and a memorial on jurisdiction.
April 21, 2020	The Tribunal issues a decision on production of documents.
April 21, 2020	The Tribunal issues Procedural Order No. 4 concerning production of documents.
July 3, 2020	The Claimants file a reply on the merits and a counter-memorial on jurisdiction.
October 30, 2020	The Respondent files a rejoinder on the merits and a reply on jurisdiction.
December 21, 2020	The Claimants file a rejoinder on jurisdiction.
January 25, 2021	The Tribunal holds a pre-hearing organizational meeting with the parties by video conference.
January 27, 2021	The Tribunal issues Procedural Order No. 5 concerning organization of the hearing.
February 15, 2021 - February 23, 2021	The Tribunals holds a hearing on jurisdiction and the merits by video conference.
March 2, 2021	The Tribunal issues Procedural Order No. 6 concerning procedural matters.
May 31, 2021	Each party files a post-hearing brief.
June 30, 2021	Each party files a statement of costs.
July 11, 2022	The Tribunal issues a decision on jurisdiction, liability and principles of reparation; attached to the decision is a dissenting opinion by arbitrator O. Thomas Johnson.
February 20, 2024	The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator O. Thomas Johnson.

(b) Annulment Proceeding

Date	Development
June 26, 2024	The Secretary-General registers an application for annulment of the award filed by Romania and notifies the parties of the provisional stay of enforcement of the award.
August 12, 2024	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Penelope Ridings (New Zealand), President; Beverley McLachlin (Canadian); and Carita Wallgren-Lindholm (Finnish); all members appointed by the Chairman of the Administrative Council.
September 2, 2024	Romania files a request to continue the stay of enforcement of the award.
September 16, 2024	LSG Building Solutions GmbH and others file observations on Romania’s request to continue the stay of enforcement of the award.
September 27, 2024	A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
September 30, 2024	Romania files a response to LSG Building Solutions GmbH and others’ observations of September 16, 2024.
October 9, 2024	Each party files observations on the non-disputing party’s application.
October 14, 2024	LSG Building Solutions GmbH and others file a rejoinder on Romania’s response of September 30, 2024.
October 15, 2024	The ad hoc Committee holds a first session by video conference.
October 17, 2024	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
November 11, 2024	The ad hoc Committee issues Procedural Order No. 2 concerning the non-disputing party’s application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
December 16, 2024	Romania files a memorial on annulment.
December 20, 2024	The ad hoc Committee issues Procedural Order No. 3 concerning the continuation of the stay of enforcement of the award.
February 21, 2025	LSG Building Solutions GmbH and others file a counter-memorial on annulment.
April 10, 2025	The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
April 11, 2025	The ad hoc Committee issues Procedural Order No. 4 concerning the continuation of the stay of enforcement of the award.
April 25, 2025	Romania files a reply on annulment.