Case Details

Inversiones Continental (Panamá), S.A. v. Republic of Honduras (ICSID Case No. ARB/18/40)

Subject of Dispute:

Banking and financial services
Economic Sector:

Finance
Instrument(s) Invoked:

FTA Central America - Panama 2002
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Inversiones Continental (Panamá), S.A. (Panamanian)
Respondent(s):

Republic of Honduras (Honduran)
Date Registered:

October 30, 2018
Date of Constitution of Tribunal:

January 14, 2021

Composition of Tribunal

President:

Raúl E. VINUESA (Argentine, Spanish) - Appointed by the Secretary-General
Arbitrators:

Carmen NÚÑEZ-LAGOS (Spanish) - Appointed by the Claimant(s)
Lucinda A. LOW (U.S.) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

B. Cremades & Asociados, Madrid, Spain
Greenberg Traurig, Washington, D.C., U.S.A.
Respondent(s):

Procuraduría General de la República, Tegucigalpa, Honduras
Dorsey & Whitney, Washington, D.C., U.S.A.
Language(s) of Proceeding:

English,Spanish
Status of Proceeding:

Pending
Latest Development:

November 3, 2023 -
Each party files a statement of costs.

No References Available.

(a) Original Proceeding

Date	Development
October 30, 2018	The Secretary-General registers a request for the institution of arbitration proceedings.
February 8, 2019	Following appointment by the Claimant, Guido Santiago Tawil (Argentine) accepts his appointment as arbitrator.
February 25, 2019	Following appointment by the Respondent, Lucinda Low (U.S.) accepts her appointment as arbitrator.
June 24, 2020	Lucinda Low withdraws the acceptance of her appointment as arbitrator.
June 26, 2020	Following appointment by agreement of the parties, Raúl E. Vinuesa (Argentine, Spanish) accepts his appointment as presiding arbitrator.
June 28, 2020	Guido Santiago Tawil withdraws the acceptance of his appointment as arbitrator.
December 28, 2020	Following appointment by the Claimant, Carmen Núñez Lagos (Spanish) accepts her appointment as arbitrator.
January 13, 2021	Following appointment by the Respondent, Lucinda Low (U.S.) accepts her appointment as arbitrator.
January 14, 2021	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Raúl E. Vinuesa (Argentine, Spanish), President, appointed by the Secretary-General pursuant to the parties’ agreement; Carmen Núñez-Lagos (Spanish), appointed by the Claimant; and Lucinda A. Low (U.S.), appointed by the Respondent.
February 10, 2021	The Respondent files a request under articles 12.09 and 12.19 of the Central America - Panama Free Trade Agreement.
March 8, 2021	The Tribunal holds a first session by video conference.
March 31, 2021	The Claimant files a counter-memorial on the Respondent’s request of February 10, 2021.
April 1, 2021	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
April 21, 2021	The Respondent files a reply on the Claimant’s counter-memorial of March 31, 2021.
May 12, 2021	The Claimant files a rejoinder on the Respondent’s reply of April 21, 2021.
June 21, 2021	The Tribunal issues Procedural Order No. 2 concerning the Respondent’s request of February 10, 2021.
October 26, 2021	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
November 15, 2021	The Tribunal issues Procedural Order No. 4 concerning procedural matters.
March 14, 2022	The Tribunal issues Procedural Order No. 5 concerning procedural matters.
April 7, 2022	The Claimant files a memorial on the merits.
July 6, 2022	The Respondent files a memorial of bifurcated issues.
October 4, 2022	The Claimant files a counter-memorial of bifurcated issues.
December 21, 2022	Following exchanges between the parties, the parties file a request for the Tribunal to decide on production of documents.
January 12, 2023	The Tribunal issues Procedural Order No. 6 concerning production of documents.
May 12, 2023	The Respondent files a reply memorial of bifurcated issues.
July 7, 2023	The Tribunal holds a pre-hearing organizational meeting with the parties by video conference.
August 4, 2023	The Claimant files a rejoinder memorial of bifurcated issues.
August 11, 2023	The Tribunal issues Procedural Order No. 7 concerning the organization of the hearing.
September 20, 2023 - September 21, 2023	The Tribunal holds a hearing on bifurcated issues in person in Washington, D.C. and by video conference.
November 3, 2023	Each party files a statement of costs.