Case Details

HSBC Latin American Holdings (UK) Limited v. Republic of El Salvador (ICSID Case No. ARB/21/46)

Subject of Dispute:

Banking and financial services
Economic Sector:

Finance
Instrument(s) Invoked:

BIT El Salvador - United Kingdom of Great Britain and Northern Ireland 1999
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

HSBC Latin American Holdings (UK) Limited (British)
Respondent(s):

Republic of El Salvador (Salvadoran)
Date Registered:

September 29, 2021
Date of Constitution of Tribunal:

November 10, 2022

Composition of Tribunal

President:

Valeria GALÍNDEZ (Argentine, Brazilian) - Appointed by the Parties
Arbitrators:

Andrés JANA LINETZKY (Chilean, Portuguese) - Appointed by the Claimant(s)
Thomas CLAY (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Linklaters, London, U.K. and Washington, D.C., U.S.A.
Novis Estudio Legal, San Salvador, El Salvador
Respondent(s):

Fiscalía General de la República de El Salvador, San Salvador, El Salvador
Laborde Law, Paris, France
Arbitraje y Litigio Iberoamericano S.C., Mexico City, Mexico
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

June 11, 2024 - The Respondent files further observations on the proposal for disqualification.

No References Available.

(a) Original Proceeding

Date	Development
September 29, 2021	The Secretary-General registers a request for the institution of arbitration proceedings.
May 9, 2022	Following appointment by the Claimant, Andrés Jana Linetzky (Chilean) accepts his appointment as arbitrator.
May 18, 2022	Following appointment by the Respondent, Thomas Clay (French) accepts his appointment as arbitrator.
November 8, 2022	Following appointment pursuant to the parties’ agreed method, Valeria Galíndez (Argentine/Brazilian) accepts her appointment as presiding arbitrator.
November 10, 2022	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Valeria Galindez (Argentine/Brazilian) President, appointed pursuant to the parties’ agreed method; Andrés Jana Linetzky (Chilean) appointed by the Claimant; and Thomas Clay (French) appointed by the Respondent.
December 10, 2022	The Respondent files preliminary objections pursuant to ICSID Arbitration Rule 41(5).
January 5, 2023	The Tribunal holds a first session by video conference.
January 26, 2023	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
January 31, 2023	The Claimant files observations on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
March 4, 2023	The Respondent files a reply on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
April 5, 2023	The Claimant files a rejoinder on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
May 12, 2023	The Tribunal holds a pre-hearing organizational meeting with the parties by video conference.
May 15, 2023	The Tribunal issues Procedural Order No. 2 concerning the organization of the hearing.
May 25, 2023	The Tribunal holds a hearing on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) by video conference.
June 23, 2023	Each party files a statement of costs.
March 13, 2024	The Tribunal decides on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
April 1, 2024	The Tribunal issues Procedural Order No. 3 concerning the procedural calendar.
April 16, 2024	The Respondent files a proposal for disqualification of the three members of the Tribunal. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
April 24, 2024	The Claimant files observations on the proposal for disqualification.
May 2, 2024	The three members of the Tribunal furnish explanations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3).
May 17, 2024	The Claimant files further observations on the proposal for disqualification.
May 18, 2024	The Respondent files further observations on the proposal for disqualification.
May 24, 2024	The Respondent files further observations on the proposal for disqualification.
June 5, 2024	One member of the Tribunal furnishes additional observations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3).
June 5, 2024	The Claimant files further observations on the proposal for disqualification.
June 10, 2024	The Claimant files further observations on the proposal for disqualification.
June 11, 2024	The Respondent files further observations on the proposal for disqualification.