Case Details

Enel Fortuna S.A. v. Republic of Panama (ICSID Case No. ARB/19/5)

Subject of Dispute:

Energy generation project
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

BIT Panama - Italy 2009
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Enel Fortuna S.A. (Panamanian)
Respondent(s):

Republic of Panama (Panamanian)
Date Registered:

March 7, 2019
Date of Constitution of Tribunal:

April 1, 2020

Composition of Tribunal

President:

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

Francisco GONZÁLEZ DE COSSÍO (Mexican) - Appointed by the Claimant(s)
Gavan GRIFFITH (Australian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Clifford Chance, Washington, D.C., U.S.A.
Respondent(s):

Arnold & Porter Kaye Scholer, Washington, D.C., U.S.A.
Ministry of Economy and Finances, Panama, Republic of Panama
Language(s) of Proceeding:

English,Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

August 18, 2021 - The Tribunal renders its award embodying the parties’ settlement agreement, pursuant to ICSID Arbitration Rule 43(2).

(a) Original Proceeding

Published Decisions

Award of the Tribunal

Available on the ICSID Website

Award of the Tribunal (August 18, 2021) English (Original)

(a) Original Proceeding

Date	Development
March 7, 2019	The Secretary-General registers a request for the institution of arbitration proceedings.
March 29, 2019	The proceeding is suspended until April 30, 2019, pursuant to the parties’ agreement.
April 30, 2019	The suspension of the proceeding is extended until May 15, 2019, pursuant to the parties’ agreement.
November 1, 2019	Following appointment by the Claimant, Francisco González de Cossío (Mexican) accepts his appointment as arbitrator.
February 11, 2020	Following appointment by the Respondent, Gavan Griffith (Australian) accepts his appointment as arbitrator.
March 31, 2020	Following appointment by his co-arbitrators, Juan Fernández-Armesto (Spanish) accepts his appointment as presiding arbitrator.
April 1, 2020	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; Francisco González de Cossío (Mexican), appointed by the Claimant; and Gavan Griffith (Australian), appointed by the Respondent.
May 20, 2020	The Tribunal holds a first session by video conference.
June 23, 2020	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
July 22, 2020	The Tribunal issues Procedural Order No. 2 concerning production of documents.
September 17, 2020	The Claimant files a memorial on the merits.
October 19, 2020	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
November 2, 2020	The proceeding is suspended until November 29, 2020, pursuant to the parties’ agreement.
November 29, 2020	The suspension of the proceeding is extended until December 18, 2020, pursuant to the parties’ agreement.
December 20, 2020	The suspension of the proceeding is extended until January 15, 2021, pursuant to the parties’ agreement.
January 15, 2021	The suspension of the proceeding is extended until March 12, 2021, pursuant to the parties’ agreement.
March 11, 2021	The suspension of the proceeding is extended until April 11, 2021, pursuant to the parties’ agreement.
April 12, 2021	The suspension of the proceeding is extended until May 10, 2021, pursuant to the parties’ agreement.
May 12, 2021	The suspension of the proceeding is extended until June 15, 2021, pursuant to the parties’ agreement.
June 15, 2021	The suspension of the proceeding is extended until June 28, 2021, pursuant to the parties’ agreement.
June 25, 2021	The parties file the full and signed text of their settlement and request the Tribunal to embody their settlement in an award, pursuant to ICSID Arbitration Rule 43(2).
August 18, 2021	The Tribunal renders its award embodying the parties’ settlement agreement, pursuant to ICSID Arbitration Rule 43(2).