Case Details

Petaquilla Minerals Ltd. v. Republic of Panama (ICSID Case No. ARB/24/12)

Subject of Dispute:

Mining concession
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

FTA Canada – Panama
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Petaquilla Minerals Ltd. (Canadian)
Respondent(s):

Republic of Panama (Panamanian)
Date Registered:

May 16, 2024
Date of Constitution of Tribunal:

December 10, 2024

Composition of Tribunal

President:

Deva VILLANUA GOMEZ (Spanish) - Appointed by the Parties
Arbitrators:

Oscar M. GARIBALDI (Argentine, U.S.) - Appointed by the Claimant(s)
Carlos PAITAN CONTRERAS (Peruvian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Dechamps International Law, London, U.K. and Buenos Aires, Argentina
Respondent(s):

Ministry of Economy and Finances, Panama City, Panama
Ministry of Commerce and Industries, Panama City, Panama
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Pending
Latest Development:

October 1, 2025 - The Claimant files a memorial on the merits.

(a) Original Proceeding

Published Decisions

Procedural Order No.1

Procedural Order No.2

Annex I to Procedural Order No. 2

Annex II to Procedural Order No. 2

Annex III to Procedural Order No. 2

Annex IV to Procedural Order No. 2

Procedural Order No. 3

Transcript of the Hearing on the Objection under Rule 41

Procedural Order No. 4

Procedural Order No. 5

Available on the ICSID Website

Procedural Order No.1 (February 6, 2025) Spanish (Original)

Procedural Order No.2 (February 6, 2025) Spanish (Original)

Annex I to Procedural Order No. 2 (February 6, 2025) Spanish (Original)

Annex II to Procedural Order No. 2 (February 6, 2025) Spanish (Original)

Annex III to Procedural Order No. 2 (February 6, 2025) Spanish (Original)

Annex IV to Procedural Order No. 2 (February 6, 2025) Spanish (Original)

Procedural Order No. 3 (April 3, 2025) Spanish (Original)

Transcript of the Hearing on the Objection under Rule 41 (May 13, 2025) Spanish (Original)

Procedural Order No. 4 (April 22, 2025) Spanish (Original)

Procedural Order No. 5 (June 3, 2025) Spanish (Original)

(a) Original Proceeding

Date	Development
January 29, 2024	The Respondent files a request for security for costs.
May 16, 2024	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
June 25, 2024	The proceeding is suspended until August 30, 2024 pursuant to the parties’ agreement.
August 30, 2024	The suspension of the proceeding is extended until September 30, 2024 pursuant to the parties’ agreement.
October 3, 2024	Following appointment by the Claimant, Oscar M. Garibaldi (Argentine/U.S.) accepts his appointment as arbitrator.
October 21, 2024	Following appointment by the Respondent, Carlos Paitán Contreras (Peruvian) accepts his appointment as arbitrator.
December 10, 2024	Following appointment by agreement of the parties, Deva Villanúa Gómez (Spanish) accepts her appointment as presiding arbitrator.
December 10, 2024	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Deva Villanúa Gómez (Spanish), President, appointed by agreement of the parties; Oscar M. Garibaldi (Argentine/U.S.), appointed by the Claimant; and Carlos Paitán Contreras (Peruvian), appointed by the Respondent.
January 2, 2025	The Respondent files an objection that the claim is manifestly without legal merit pursuant to ICSID Arbitration Rule 41(1).
January 29, 2025	The Respondent files a request for security for costs.
January 31, 2025	The Tribunal holds a first session by video conference.
February 6, 2025	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
February 6, 2025	The Tribunal issues Procedural Order No. 2 concerning production of documents.
February 7, 2025	The Claimant files observations on the Respondent’s objection that the claim is manifestly without legal merit.
February 21, 2025	The Claimant files observations on the Respondent’s request for security for costs.
February 28, 2025	The Respondent files a reply on its objection that the claim is manifestly without legal merit.
March 21, 2025	The Claimant files a rejoinder on the Respondent’s objection that the claim is manifestly without legal merit.
April 3, 2025	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
April 22, 2025	The Tribunal issues Procedural Order No. 4 on third-party funding.
May 13, 2025	The Tribunal holds by video conference a hearing on an objection under ICSID Arbitration Rule 41.
May 28, 2025	Each party files a statement of costs.
June 3, 2025	The Tribunal issues Procedural Order No. 5 on the objection under Rule 41 and the request for security for costs.
October 1, 2025	The Claimant files a memorial on the merits.