Case Details

Walnort Finance Limited v. Republic of Armenia (ICSID Case No. ARB/24/20)

Subject of Dispute:

Acquisition of shares
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

BIT Cyprus - Armenia 1995
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Walnort Finance Limited (Cypriot)
Respondent(s):

Republic of Armenia (Armenian)
Date Registered:

June 21, 2024
Date of Constitution of Tribunal:

February 11, 2025

Composition of Tribunal

President:

Luca G. RADICATI DI BROZOLO (British, Italian) - Appointed by the Secretary-General
Arbitrators:

Klaus REICHERT (German, Irish) - Appointed by the Claimant(s)
Alexis MOURRE (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Wilmer Cutler Pickering Hale and Dorr, London, U.K. and Washington, D.C., U.S.A
Concern Dialog, Yerevan, Armenia
Respondent(s):

Office of the Representative of the Republic of Armenia on International Legal Matters, Government of Armenia, Yerevan, Armenia
Status of Proceeding:

Pending
Latest Development:

March 24, 2025 -
The Tribunal holds a first session by video conference.

No References Available.

(a) Original Proceeding

Date	Development
June 21, 2024	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
August 7, 2024	Following appointment by the Claimant, Klaus Reichert (German/Irish) accepts his appointment as arbitrator.
September 10, 2024	Following appointment by the Respondent, Alexis Mourre (French) accepts his appointment as arbitrator.
February 11, 2025	Following appointment by agreement of the parties, Luca G. Radicati di Brozolo (British/Italian) accepts his appointment as presiding arbitrator.
February 11, 2025	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Luca G. Radicati di Brozolo (British/Italian), President, appointed by the Secretary‑General pursuant to the parties’ agreement; Klaus Reichert (German/Irish), appointed by the Claimant; and Alexis Mourre (French), appointed by the Respondent.
March 24, 2025	The Tribunal holds a first session by video conference.