Case Details

Cyrus Capital Partners, L.P. and Contrarian Capital Management, LLC v. United Mexican States (ICSID Case No. ARB/23/33)

Subject of Dispute:

Debt Instruments/Banking and financial services
Economic Sector:

Other Industry
Instrument(s) Invoked:

NAFTA (North American Free Trade Agreement), USMCA (United States-Mexico-Canada Agreement)
Applicable Rules:

ICSID Convention - Arbitration Rules

Claimant(s)/Nationality(ies):

Cyrus Capital Partners, L.P. (U.S.), Contrarian Capital Management, LLC (U.S.)
Respondent(s):

United Mexican States (Mexican)
Date Registered:

August 11, 2023
Date of Constitution of Tribunal:

February 6, 2024

President:

Lawrence COLLINS (British) - Appointed by the Parties
Arbitrators:

David J. A. CAIRNS (British, New Zealand) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian, Swiss) - Appointed by the Respondent(s)

Claimant(s):

Akin Gump Strauss Hauer & Feld, Washington D.C., U.S.A.
Respondent(s):

Dirección General de Consultoría Jurídica de Comercio Internacional, Secretaría de Economía, Mexico City, Mexico
Tereposky & DeRose, Ottawa, Canada
Pillsbury Winthrop Shaw Pittman, Washington, D.C., U.S.A.
Language(s) of Proceeding:

English,Spanish
Status of Proceeding:

Pending
Latest Development:

June 4, 2024 -
The Respondent files a memorial on jurisdiction.

Request for Arbitration

Procedural Order No. 1

Procedural Order No. 2

Memorial on Jurisdiction

Request for Arbitration (June 30, 2023) English (Original)

Procedural Order No. 1 (April 3, 2024) English (Original); Spanish (Original)

Procedural Order No. 2 (April 3, 2024) English (Original); Spanish (Original)

Memorial on Jurisdiction (June 4, 2024) Spanish (Original)

Date	Development
August 11, 2023	The Secretary-General registers a request for the institution of arbitration proceedings.
October 5, 2023	Following appointment by the Respondent, Zachary Douglas (Australian/Swiss) accepts his appointment as arbitrator.
October 14, 2023	Following appointment by the Claimants, David J. A. Cairns (British/New Zealand) accepts his appointment as arbitrator.
February 5, 2024	Following appointment by agreement of the parties, Lawrence Collins (British) accepts his appointment as presiding arbitrator.
February 6, 2024	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Lawrence Collins (British), President, appointed by agreement of the parties; David J.A. Cairns (British/New Zealand), appointed by the Claimants; and Zachary Douglas (Australian/Swiss), appointed by the Respondent.
March 21, 2024	The Tribunal holds a first session by video conference.
April 3, 2024	The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.
April 3, 2024	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
June 4, 2024	The Respondent files a memorial on jurisdiction.