Case Details

Sauna UK BidCo Limited v. Republic of Finland (ICSID Case No. ARB/24/38)

Subject of Dispute:

Electric power distribution services
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

ECT (Energy Charter Treaty)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Sauna UK BidCo Limited (British)
Respondent(s):

Republic of Finland (Finnish)
Date Registered:

August 23, 2024
Date of Constitution of Tribunal:

March 6, 2025

Composition of Tribunal

President:

Audley SHEPPARD (Irish, New Zealand) - Appointed by Co-Arbitrators
Arbitrators:

D. Brian KING (U.S.) - Appointed by the Claimant(s)
Eduardo SILVA ROMERO (Colombian, French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Debevoise & Plimpton, London, U.K.
Respondent(s):

Three Crowns, London, U.K. and Madrid, Spain
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

May 14, 2025 - The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.

No References Available.

(a) Original Proceeding

Date	Development
August 23, 2024	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
November 6, 2024	Following appointment by the Claimant, D. Brian King (U.S.) accepts his appointment as arbitrator.
December 2, 2024	Following appointment by the Respondent, Eduardo Silva Romero (Colombian/French) accepts his appointment as arbitrator.
March 6, 2025	Following appointment by his co-arbitrators pursuant to the parties’ agreement, Audley Sheppard (Irish/New Zealand) accepts his appointment as presiding arbitrator.
March 6, 2025	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Audley Sheppard (Irish/New Zealand), President, appointed by his co-arbitrators pursuant to the parties’ agreement; D. Brian King (U.S.), appointed by the Claimant; and Eduardo Silva Romero (Colombian/ French), appointed by the Respondent.
April 29, 2025	The Tribunal holds a first session by video conference.
May 14, 2025	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
May 14, 2025	The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.