Case Details

Naftiran Intertrade Co. (NICO) Limited v. Kingdom of Bahrain (ICSID Case No. ARB/22/34)

Subject of Dispute:

Banking and financial services
Economic Sector:

Finance
Instrument(s) Invoked:

BIT Bahrain - Malaysia 1999
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Naftiran Intertrade Co. (NICO) Limited (Malaysian)
Respondent(s):

Kingdom of Bahrain (Bahraini)
Date Registered:

December 16, 2022
Date of Constitution of Tribunal:

January 30, 2024

Composition of Tribunal

President:

Claus VON WOBESER (German, Mexican) - Appointed by the Parties
Arbitrators:

Bernard HANOTIAU (Belgian) - Appointed by the Claimant(s)
Maxi SCHERER (German) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Derains & Gharavi, Paris, France
Respondent(s):

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.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

December 2, 2024 -
The Claimant files a counter-memorial on jurisdiction.

(a) Original Proceeding

Published Decisions

Procedural Order No. 1

Procedural Order No. 2

Procedural Order No. 3

Procedural Order No. 4

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)

(a) Original Proceeding

Date	Development
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.