Case Details

IBT Group, LLC, IBT, LLC and Eurofinsa Concesiones e Inversiones, S.L. v. Republic of Panama (ICSID Case No. ARB/21/34)

Subject of Dispute:

Construction project
Economic Sector:

Construction
Instrument(s) Invoked:

BIT Panama - United States of America 2000, BIT Panama - Spain 1997 - 2007 US Panama Trade Promotion Agreement (TPA)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

IBT Group, LLC (U.S.), IBT LLC (U.S.), Eurofinsa Concesiones e Inversiones S.L. (Spanish)
Respondent(s):

Republic of Panama (Panamanian)
Date Registered:

June 18, 2021

Party Representatives

Claimant(s):

MDU Legal, Panama
Respondent(s):

Ministry of Economy and Finances, Panama, Republic of Panama
Status of Proceeding:

Pending
Latest Development:

March 28, 2024 - The proceeding is further suspended pursuant to the parties’ agreement.

No References Available.

(a) Original Proceeding

Date	Development
June 18, 2021	The Secretary-General registers a request for the institution of arbitration proceedings.
September 13, 2021	The proceeding is suspended pursuant to the parties’ agreement.
January 3, 2023	The proceeding is further suspended pursuant to the parties’ agreement.
June 29, 2023	The proceeding is further suspended pursuant to the parties’ agreement.
September 28, 2023	The proceeding is further suspended pursuant to the parties’ agreement.
October 30, 2023	The proceeding is further suspended pursuant to the parties’ agreement.
November 30, 2023	The proceeding is further suspended pursuant to the parties’ agreement.
January 30, 2024	The proceeding is further suspended pursuant to the parties’ agreement.
March 28, 2024	The proceeding is further suspended pursuant to the parties’ agreement.