Case Details

Stratius Investments Limited v. Hungary (ICSID Case No. ARB/24/6)

Subject of Dispute:

Energy enterprise
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):

Stratius Investments Limited (Cypriot)
Respondent(s):

Hungary (Hungarian)
Date Registered:

March 13, 2024
Date of Constitution of Tribunal:

July 8, 2024

Composition of Tribunal

President:

Gabrielle KAUFMANN-KOHLER (Swiss) - Appointed by the Parties
Arbitrators:

Juliet BLANCH (British) - Appointed by the Claimant(s)
Philippe SANDS (British, French, Mauritian) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Fox Williams, London, U.K.
Respondent(s):

Burai-Kovács, Perlaki, Sztanka, Szikla & Partners, Budapest, Hungary
Sovereign Arbitration Advisors, Washington, D.C., U.S.A.
Mahnaz Malik, London, U.K.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

August 29, 2025 -
The Claimant files a reply on the merits.

(a) Original Proceeding

Published Decisions

Procedural Order No. 1

Procedural Order No. 2

Procedural Order No. 3

Procedural Order No. 4

Available on the ICSID Website

Procedural Order No. 1 (September 11, 2024) English (Original)

Procedural Order No. 2 (October 16, 2024) English (Original)

Procedural Order No. 3 (February 12, 2025) English (Original)

Procedural Order No. 4 (June 27, 2025) English (Original)

(a) Original Proceeding

Date	Development
March 13, 2024	The Secretary-General registers a request for the institution of arbitration proceedings.
May 16, 2024	Following appointment by the Claimant, Juliet Blanch (British) accepts her appointment as arbitrator.
June 12, 2024	Following appointment by the Respondent, Philippe Sands (British/French/Mauritian) accepts his appointment as arbitrator.
July 8, 2024	Following appointment by agreement of the parties, Gabrielle Kaufmann-Kohler (Swiss) accepts her appointment as presiding arbitrator.
July 8, 2024	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Gabrielle Kaufmann-Kohler (Swiss), President, appointed by agreement of the parties; Juliet Blanch (British), appointed by the Claimant; and Philippe Sands (British/French/Mauritian), appointed by the Respondent.
September 6, 2024	The Tribunal holds a first session by video conference.
September 11, 2024	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
October 16, 2024	The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.
October 18, 2024	The Claimant files a memorial on the merits.
November 29, 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.
December 13, 2024	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
December 19, 2024	The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the preliminary objections are joined to the merits of the dispute.
February 12, 2025	The Tribunal issues Procedural Order No. 3 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question, with reasons.
March 14, 2025	The Respondent files a counter-memorial on the merits and a memorial on jurisdiction.
June 13, 2025	Following exchanges between the parties, each party files a request for the Tribunal to decide on production of documents.
June 27, 2025	The Tribunal issues Procedural Order No. 4 concerning production of documents.
August 29, 2025	The Claimant files a reply on the merits.