Case Details

JLL Capital, S.A.P.I. de C.V. v. Republic of Honduras (ICSID Case No. ARB/23/3)

Subject of Dispute:

Banking and financial services
Economic Sector:

Finance
Instrument(s) Invoked:

FTA Mexico - Costa Rica - El Salvador - Guatemala - Honduras - Nicaragua
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

JLL Capital, S.A.P.I. de C.V. (Mexican)
Respondent(s):

Republic of Honduras (Honduran)
Date Registered:

February 13, 2023
Date of Constitution of Tribunal:

August 8, 2023

Composition of Tribunal

President:

Juan Pablo CÁRDENAS MEJÍA (Colombian) - Appointed by the Secretary-General
Arbitrators:

Stephan SCHILL (German) - Appointed by the Claimant(s)
Gabriel BOTTINI (Argentine) - Appointed by the Secretary-General

Initial Composition of Tribunal

President:

Juan Pablo CÁRDENAS MEJÍA (Colombian) - Appointed by the Secretary-General
Arbitrators:

Christian ALBANESI (Argentine, Italian) - Appointed by the Claimant(s)
Gabriel BOTTINI (Argentine) - Appointed by the Secretary-General
Reconstituted:

November 14, 2024: Stephan SCHILL (German) appointed following the resignation of Christian ALBANESI (Argentine ,Italian)

Party Representatives

Claimant(s):

Galicia Abogados, S.C., Mexico City, Mexico
Respondent(s):

Procuraduría General de la República, Tegucigalpa, Honduras
Jana & Gil Dispute Resolution, Santiago, Chile
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

November 14, 2024 - The Tribunal is reconstituted. Its members are: Juan Pablo Cárdenas Mejía, President, (Colombian), President, appointed by the Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua; Stephan W. Schill (German), appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3); and Gabriel Bottini (Argentine), appointed by Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua. The proceeding is resumed pursuant to ICSID Arbitration Rule 26(4).

No References Available.

(a) Original Proceeding

Date	Development
February 13, 2023	The Secretary-General registers a request for the institution of arbitration proceedings.
April 4, 2023	Following appointment by the Claimant, Christian Albanesi (Argentine/Italian) accepts his appointment as arbitrator.
June 9, 2023	Following appointment by the Secretary-General, Gabriel Bottini (Argentine) accepts his appointment as arbitrator.
August 7, 2023	Following appointment by the Secretary-General, Juan Pablo Cárdenas Mejía (Colombian) accepts his appointment as presiding arbitrator.
August 8, 2023	The Tribunal is constituted in accordance with Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua. Its members are: Juan Pablo Cárdenas Mejía (Colombian), President, appointed by the Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua; Christian Albanesi (Argentine/Italian), appointed by the Claimant; and Gabriel Bottini (Argentine), appointed by the Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua.
August 18, 2023	The Respondent files preliminary objections pursuant to ICSID Arbitration Rule 41.
September 22, 2023	The Tribunal holds a first session by video conference.
September 27, 2023	The Claimant files observations on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41.
October 10, 2023	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
October 18, 2023	The Respondent files a reply on preliminary objections pursuant to ICSID Arbitration Rule 41.
November 8, 2023	The Claimant files a rejoinder on preliminary objections pursuant to ICSID Arbitration Rule 41.
December 21, 2023	The Tribunal issues a decision on preliminary objections pursuant to ICSID Arbitration Rule 41.
March 20, 2024	The Claimant files a memorial on the merits.
May 20, 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 19, 2024	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
September 3, 2024	The Tribunal issues a decision on the Respondent’s objection pursuant to ICSID Arbitration Rule 42(5).
September 26, 2024	Following the resignation of arbitrator Christian Albanesi, the Secretary-General notifies the parties of the vacancy on the Tribunal and the proceeding is suspended pursuant to ICSID Arbitration Rule 26(2).
September 26, 2024	The Tribunal consents to the resignation of arbitrator Christian Albanesi pursuant to ICSID Arbitration Rule 25(2) and the Secretary-General notifies the parties thereof.
November 14, 2024	Following the resignation of arbitrator Christian Albanesi, Stephan W. Schill (German) accepts his appointment as arbitrator, appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3).
November 14, 2024	The Tribunal is reconstituted. Its members are: Juan Pablo Cárdenas Mejía, President, (Colombian), President, appointed by the Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua; Stephan W. Schill (German), appointed by the Claimant in accordance with ICSID Arbitration Rule 26(3); and Gabriel Bottini (Argentine), appointed by Secretary-General pursuant to Article 11.23 of the Free Trade Agreement between Mexico and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua. The proceeding is resumed pursuant to ICSID Arbitration Rule 26(4).