Case Details
Naftiran Intertrade Co. (NICO) Limited v. Kingdom of Bahrain (ICSID Case No. ARB/22/34)
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Banking and financial services
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Finance
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BIT Bahrain - Malaysia 1999
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ICSID Convention - Arbitration Rules
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Naftiran Intertrade Co. (NICO) Limited (Malaysian)
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Kingdom of Bahrain (Bahraini)
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December 16, 2022
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January 30, 2024
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Claus VON WOBESER (German, Mexican) - Appointed by the Parties
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Eduardo SILVA ROMERO (Colombian, French) - Appointed by the Claimant(s)
Maxi SCHERER (German) - Appointed by the Respondent(s) -
Claus VON WOBESER (German, Mexican) - Appointed by the Parties
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Bernard HANOTIAU (Belgian) - Appointed by the Claimant(s)
Maxi SCHERER (German) - Appointed by the Respondent(s) -
June 13, 2025: Eduardo SILVA ROMERO (Colombian ,French) appointed following the resignation of Bernard HANOTIAU (Belgian)
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Derains & Gharavi, Paris, France
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Crown Prince and Prime Minister, Riffa, Bahrain
Minister of Foreign Affairs, Manama, Bahrain
Minister of Finance and National Economy, Manama, Bahrain
A&O Shearman, London, U.K. -
English
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Pending
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June 13, 2025 - The Tribunal is reconstituted. Its members are: Claus von Wobeser (Mexican/German), President, appointed by agreement of the parties; Eduardo Silva Romero (French/Colombian), appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3); and Maxi Scherer (German), appointed by Respondent. The proceeding is resumed pursuant to ICSID Arbitration Rule 26(4).
(a) Original Proceeding
Composition of Tribunal
Initial Composition of Tribunal
Party Representatives
(a) Original Proceeding
Published Decisions
Procedural Order No. 1
Procedural Order No. 2
Procedural Order No. 3
Procedural Order No. 4
Procedural Order No. 5
Available on the ICSID Website
Procedural Order No. 1 (May 7, 2024) English (Original)
Procedural Order No. 2 (May 7, 2024) English (Original)
Procedural Order No. 3 (June 3, 2024) English (Original)
Procedural Order No. 4 (August 12, 2024) English (Original)
Procedural Order No. 5 (February 21, 2025) English (Original)
(a) Original Proceeding
Date | Development |
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December 16, 2022 | The Secretary-General registers a request for the institution of arbitration proceedings. |
March 23, 2023 | Following appointment by the Claimant, Bernard Hanotiau (Belgian) accepts his appointment as arbitrator. |
April 24, 2023 | Following appointment by the Respondent, Maxi Scherer (German) accepts her appointment as arbitrator. |
January 30, 2024 | Following appointment by agreement of the parties, Claus von Wobeser (Mexican/German), accepts his appointment as presiding arbitrator. |
January 30, 2024 | The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Claus von Wobeser (Mexican/German), President, appointed by agreement of the parties, Bernard Hanotiau (Belgian), appointed by the Claimant, and Maxi Scherer (German), appointed by Respondent. |
March 20, 2024 | The Tribunal holds a first session by video conference. |
May 7, 2024 | The Tribunal issues Procedural Order No. 1 concerning procedural matters. |
May 7, 2024 | The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality. |
May 9, 2024 | The Claimant files a memorial on the merits. |
June 3, 2024 | The Tribunal issues Procedural Order No. 3 concerning the procedural calendar. |
June 24, 2024 | The Respondent files a request to address the objections to jurisdiction as a preliminary question pursuant to ICSID Convention Article 41(2) and ICSID Arbitration Rule 44. |
July 8, 2024 | The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question. |
July 15, 2024 | The Respondent files a response to the Claimant’s observations of July 8, 2024. |
July 22, 2024 | The Claimant files observations on the Respondent’s response of July 15, 2024. |
August 12, 2024 | The Tribunal issues Procedural Order No. 4 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended. |
October 7, 2024 | The Respondent files a memorial on jurisdiction. |
December 2, 2024 | The Claimant files a counter-memorial on jurisdiction. |
January 27, 2025 | Following exchanges between the parties, each party files a request for the Tribunal to decide on production of documents. |
February 10, 2025 | The Claimants file observations on the Respondent’s request for production of documents. |
February 12, 2025 | The Respondent files a response to the Claimants’ observations of February 10, 2025. |
February 21, 2025 | The Tribunal issues Procedural Order No. 5 concerning production of documents. |
May 22, 2025 | Following the resignation of arbitrator Bernard Hanotiau, the Secretary-General notifies the parties of the vacancy on the Tribunal and the proceeding is suspended pursuant to ICSID Arbitration Rule 26(2). |
May 22, 2025 | The Tribunal consents to the resignation of arbitrator Bernard Hanotiau pursuant to ICSID Arbitration Rule 25(2) and the Secretary-General notifies the parties thereof. |
June 13, 2025 | Following the resignation of arbitrator Bernard Hanotiau, Eduardo Silva Romero (French/Colombian) accepts his appointment as arbitrator, appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3). |
June 13, 2025 | The Tribunal is reconstituted. Its members are: Claus von Wobeser (Mexican/German), President, appointed by agreement of the parties; Eduardo Silva Romero (French/Colombian), appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3); and Maxi Scherer (German), appointed by Respondent. The proceeding is resumed pursuant to ICSID Arbitration Rule 26(4). |