Case Details

Juan Carlos Argüello and Ernesto Argüello v. Republic of Panama (ICSID Case No. ARB/25/39)

Subject of Dispute:

Real estate project
Economic Sector:

Construction
Instrument(s) Invoked:

TPA United States of America - Panama 2007
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Juan Carlos Argüello (U.S.), Ernesto Argüello (U.S.)
Respondent(s):

Republic of Panama (Panamanian)
Date Registered:

August 11, 2025
Date of Constitution of Tribunal:

December 12, 2025

Composition of Tribunal

President:

Alfredo BULLARD (Peruvian, Spanish) - Appointed by the Parties
Arbitrators:

Stephan SCHILL (German) - Appointed by the Claimant(s)
Chiara GIORGETTI (Italian, U.S.) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

White & Case, New York, NY and Washington, D. C., U.S.A.
Respondent(s):

Ministerio de Economía y Finanzas, Panama City, Panama
Status of Proceeding:

Pending
Latest Development:

January 27, 2026 -
The Tribunal holds a first session by video conference.

No References Available.

(a) Original Proceeding

Date	Development
August 11, 2025	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
October 7, 2025	Following appointment by the Respondent, Chiara Giorgetti (Italian/U.S.) accepts her appointment as arbitrator.
October 14, 2025	Following appointment by the Claimant, Stephan Schill (German) accepts his appointment as arbitrator.
December 11, 2025	Following appointment by agreement of the Parties, Alfredo Bullard (Peruvian/Spanish) accepts his appointment as presiding arbitrator.
December 12, 2025	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Alfredo Bullard (Peruvian/Spanish), President, appointed by the Parties; Stephan Schill (German), appointed by Claimant; and Chiara Giorgetti (Italian, U.S.), appointed by Respondent.
January 27, 2026	The Tribunal holds a first session by video conference.