Case Details

Aria Capital LLC and Publio Administration LLC v. United Mexican States (ICSID Case No. ARB/25/49)

Subject of Dispute:

Wholesale electricity supply
Economic Sector:

Electric Power & Other Energy
Instrument(s) Invoked:

USMCA (United States-Mexico-Canada Agreement)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Aria Capital LLC (U.S.), Publio Administration LLC (U.S.)
Respondent(s):

United Mexican States (Mexican)
Date Registered:

November 21, 2025
Date of Constitution of Tribunal:

August 21, 2026

Composition of Tribunal

President:

Alexis MOURRE (French) - Appointed by the Parties
Arbitrators:

N. Fernando PIÉROLA CASTRO (Peruvian, Swiss) - Appointed by the Claimant(s)
Michele POTESTÀ (Italian, Swiss) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Clifford Chance, Perth, Australia and Washington, D.C., U.S.A.
Respondent(s):

Dirección General de Consultoría Jurídica de Comercio Internacional, Secretaría de Economía, Mexico City, Mexico
Status of Proceeding:

Pending
Latest Development:

September 1, 2026 - The Tribunal consents to the resignation of arbitrator Michele Potestà pursuant to ICSID Arbitration Rule 25(2) and the Secretary-General notifies the parties thereof.

No References Available.

(a) Original Proceeding

Date	Development
November 21, 2025	The Acting Secretary-General registers a request for the institution of arbitration proceedings.
December 2, 2025	Following appointment by the Claimants, Fernando Piérola-Castro (Swiss/Peruvian) accepts his appointment as arbitrator.
January 19, 2026	Following appointment by the Respondent, Michele Potestà (Italian/Swiss) accepts his appointment as arbitrator.
August 21, 2026	Following appointment by agreement of the parties, Alexis Mourre (French) accepts his appointment as presiding arbitrator.
August 21, 2026	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Alexis Mourre (French), President, appointed by agreement of the parties; Fernando Piérola-Castro (Swiss/Peruvian), appointed by the Claimants; and Michele Potestà (Italian/Swiss), appointed by the Respondent.
September 1, 2026	The Tribunal consents to the resignation of arbitrator Michele Potestà pursuant to ICSID Arbitration Rule 25(2) and the Secretary-General notifies the parties thereof.
September 1, 2026	Following the resignation of arbitrator Michele Potestà, the Secretary-General notifies the parties of the vacancy on the Tribunal and the proceeding is suspended pursuant to ICSID Arbitration Rule 26(2).