Case Details

Ahron G. Frenkel v. Republic of Croatia (ICSID Case No. ARB/20/49)

Subject of Dispute:

Real estate projects
Economic Sector:

Tourism
Instrument(s) Invoked:

BIT Croatia - Israel 2000
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Ahron G. Frenkel (Israeli)
Respondent(s):

Republic of Croatia (Croatian)
Date Registered:

November 16, 2020
Date of Constitution of Tribunal:

July 21, 2021

Composition of Tribunal

President:

Mónica PINTO (Argentine) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Stanimir A. ALEXANDROV (Bulgarian) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian, Swiss) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Valfor, Geneva, Switzerland
Respondent(s):

Office of the State Attorney, Zagreb, Croatia
Latham & Watkins, Hamburg, Germany, and London, U.K.
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

January 29, 2025 -
The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Stanimir Alexandrov.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Claimant(s)
Date Registered:

June 2, 2025
Date of Constitution of ad hoc Committee:

July 30, 2025

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

President:

Maxi SCHERER (German)
Members:

Dapo AKANDE (British, Nigerian)
Tina M. CICCHETTI (Canadian, Italian)

Party Representatives

Claimant(s):

Valfor, Geneva, Switzerland
Respondent(s):

State Attorney of the Republic of Croatia, Zagreb, Croatia
Latham & Watkins, Hamburg, Germany and London, England
Hanefeld Rechtsanwälte, Hamburg, Germany
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

December 15, 2025 -
The ad hoc Committee issues Procedural Order No. 2 concerning the continuation of the stay of enforcement of the award.

No References Available.

(a) Original Proceeding

Date	Development
November 16, 2020	The Secretary-General registers a request for the institution of arbitration proceedings.
March 17, 2021	Following appointment by the Claimant, Stanimir Alexandrov (Bulgarian) accepts his appointment as arbitrator.
May 11, 2021	Following appointment by the Respondent, Zachary Douglas (Australian) accepts his appointment as arbitrator.
July 21, 2021	Following appointment by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention, Mónica Pinto (Argentine) accepts her appointment as presiding arbitrator.
July 21, 2021	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Mónica Pinto (Argentine), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Stanimir A. Alexandrov (Bulgarian), appointed by the Claimant; and Zachary Douglas (Australian), appointed by the Respondent.
September 6, 2021	The Tribunal holds a first session by video conference.
September 14, 2021	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
December 17, 2021	The Claimant files a memorial on the merits.
January 19, 2022	The Respondent files a request to suspend the proceeding.
January 28, 2022	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
January 28, 2022	The Claimant files observations on the Respondent’s request of January 19, 2022.
February 7, 2022	The Respondent files a response to the Claimant’s observations of January 28, 2022.
February 14, 2022	The Claimant files further observations on the Respondent’s response of February 7, 2022.
February 25, 2022	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
March 4, 2022	The Respondent files a reply on the request to address the objections to jurisdiction as a preliminary question.
March 7, 2022	The Tribunal issues Procedural Order No. 2 concerning the Respondent’s request to suspend the proceeding.
March 11, 2022	The Claimant files a rejoinder on the request to address the objections to jurisdiction as a preliminary question.
April 26, 2022	The Tribunal decides on the Respondent’s request to address the objections to jurisdiction as a preliminary question.
September 28, 2022	The Claimant files a request for provisional measures.
October 21, 2022	The Respondent files observations on the Claimant’s request for provisional measures.
November 1, 2022	The Claimant files a response to the Respondent’s observations of October 21, 2022.
November 11, 2022	The Respondent files further observations on the Claimant’s request for provisional measures.
November 28, 2022	The Tribunal issues Procedural Order No. 3 concerning provisional measures.
May 20, 2024	The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing.
June 12, 2024	The Tribunal holds a hearing on the impact of the Elitech Award on this proceeding by video conference.
July 12, 2024	Each party files a statement of costs.
January 29, 2025	The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Stanimir Alexandrov.

(b) Annulment Proceeding

Date	Development
June 2, 2025	The Secretary-General registers an application for annulment of the award filed by Ahron G. Frenkel and notifies the parties of the provisional stay of enforcement of the award.
July 30, 2025	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Maxi Scherer (German), President; Dapo Akande (British/Nigerian); and Tina Cicchetti (Canadian/Italian); all members appointed by the Chairman of the Administrative Council.
September 30, 2025	The ad hoc Committee holds a first session by video conference.
October 3, 2025	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
October 15, 2025	Republic of Croatia files observations on Ahron G. Frenkel’s request to continue the stay of enforcement of the award.
October 29, 2025	Ahron G. Frenkel files a response to the Republic of Croatia’s observations of October 15, 2025.
November 12, 2025	Republic of Croatia files a rejoinder on Ahron G. Frenkel’s request to continue the stay of enforcement of the award.
December 15, 2025	The ad hoc Committee issues Procedural Order No. 2 concerning the continuation of the stay of enforcement of the award.