Case Details

Optima Ventures LLC, Optima 7171 LLC and Optima 55 Public Square LLC v. United States of America (ICSID Case No. ARB/21/11)

Subject of Dispute:

Real estate project
Economic Sector:

Construction
Instrument(s) Invoked:

BIT Ukraine - United States of America 1994
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Optima Ventures LLC (Ukrainian,U.S.), Optima 55 Public Square LLC (Ukrainian,U.S.), Optima 7171 LLC (Ukrainian,U.S.)
Respondent(s):

United States of America (U.S.)
Date Registered:

March 16, 2021
Date of Constitution of Tribunal:

July 6, 2022

Composition of Tribunal

President:

Mónica PINTO (Argentine) - Appointed by the Secretary-General
Arbitrators:

Jan PAULSSON (Bahraini, French, Swedish) - Appointed by the Claimant(s)
David A. PAWLAK (Irish, U.S.) - Appointed by the Respondent(s)

Initial Composition of Tribunal

President:

Mónica PINTO (Argentine) - Appointed by the Secretary-General
Arbitrators:

Jan PAULSSON (Bahraini, French, Swedish) - Appointed by the Claimant(s)
Michael CHERTOFF (U.S.) - Appointed by the Respondent(s)
Reconstituted:

January 24, 2023: David A. PAWLAK (U.S. ,Irish) appointed following the disqualification of Michael CHERTOFF (U.S.)

Party Representatives

Claimant(s):

Black, Srebnick, Kornspan & Stumpf, P.A., Miami, FL, U.S.A.
Roche Cyrulnik Freedman, Miami, FL, U.S.A.
Kasowitz Benson Torres, New York, NY, U.S.A.
Respondent(s):

Office of the Legal Adviser for International Claims and Investment Disputes
U.S. Department of State, Washington, D.C., U.S.A.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

January 19, 2024 -
The Tribunal issues a decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).

(a) Original Proceeding

Published Decisions

Decision on the Claimant's Proposal to Disqualify an Arbitrator

Respondent’s Preliminary Objections

Procedural Order No. 1

Claimants’ Observations on Respondent’s Preliminary Objections

Respondent’s Reply to Claimants’ Observations on Respondent’s Preliminary Objections

Claimants’ Rejoinder on Respondent’s Preliminary Objections

Decision on the Respondent’s Preliminary Objections under Arbitration Rule 41(5)

Procedural Calendar

Available on the ICSID Website

Decision on the Claimant's Proposal to Disqualify an Arbitrator (December 20, 2022) English (Original)

Respondent’s Preliminary Objections (February 14, 2023) English (Original)

Procedural Order No. 1 (March 20, 2023) English (Original)

Claimants’ Observations on Respondent’s Preliminary Objections (April 17, 2023) English (Original)

Respondent’s Reply to Claimants’ Observations on Respondent’s Preliminary Objections (May 19, 2023) English (Original)

Claimants’ Rejoinder on Respondent’s Preliminary Objections (June 20, 2023) English (Original)

Decision on the Respondent’s Preliminary Objections under Arbitration Rule 41(5) (January 19, 2024) English (Original)

Procedural Calendar (July 29, 2024) English (Original)

(a) Original Proceeding

Date	Development
March 16, 2021	The Secretary-General registers a request for the institution of arbitration proceedings.
June 20, 2021	Following appointment by the Claimants, Jan Paulsson (Swedish/French/Bahraini) accepts his appointment as arbitrator.
July 30, 2021	Following appointment by the Respondent, Michael Chertoff (US) accepts his appointment as arbitrator.
July 1, 2022	Following appointment by the Secretary-General in accordance with the parties’ agreement, Mónica Pinto (Argentine) accepts her appointment as presiding arbitrator.
July 6, 2022	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Mónica Pinto (Argentine), President, appointed by the Secretary-General in accordance with the parties’ agreement; Jan Paulsson (Swedish/French/Bahraini), appointed by the Claimants; and Michael Chertoff (US), appointed by the Respondent.
July 15, 2022	The Claimants file a proposal for disqualification of arbitrator Michael Chertoff. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
July 29, 2022	The Respondent files observations on the proposal for disqualification.
August 5, 2022	Arbitrator Michael Chertoff furnishes explanations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3).
August 15, 2022	The parties file additional observations on the proposal for disqualification.
December 20, 2022	The proposal for disqualification of arbitrator Michael Chertoff is upheld by the Chair of the Administrative Council. The proceeding remains suspended pursuant to ICSID Arbitration Rule 10(2).
January 24, 2023	The Tribunal is reconstituted. Its members are: Mónica Pinto (Argentine), President, appointed by the Secretary-General in accordance with the parties’ agreement; Jan Paulsson (Swedish/French/Bahraini), appointed by the Claimants; and David Pawlak (US/Irish), appointed by the Respondent in accordance with ICSID Arbitration Rule 11(1). The proceeding is resumed pursuant to ICSID Arbitration Rule 12.
February 14, 2023	The Respondent files preliminary objections pursuant to ICSID Arbitration Rule 41(5).
February 28, 2023	The Tribunal holds a first session by video conference.
March 20, 2023	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
April 17, 2023	The Claimants file observations on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
May 19, 2023	The Respondent files a reply to the Claimants’ observations to its preliminary objections pursuant to ICSID Arbitration Rule 41(5).
June 20, 2023	The Claimants file a rejoinder to the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
October 24, 2023	The Tribunal holds a hearing on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) by video conference.
January 19, 2024	The Tribunal issues a decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).