Following appointment by the Respondent, Zachary Douglas (Australian) accepts his appointment as arbitrator.

Following appointment by the Claimant, Horacio Grigera-Naon (U.S./Argentine) accepts his appointment as arbitrator.

Following appointment by agreement of the parties, John Beechey (British) accepts his appointment as presiding arbitrator.

The Tribunal is constituted in accordance with the UNCITRAL Arbitration Rules (1976). Its members are: John Beechey (British), President, appointed by agreement of the parties; Horacio Grigera-Naon (U.S./Argentine), appointed by the Claimant; and Zachary Douglas (Australian), appointed by the Respondent.

The Tribunal issues the Terms of Appointment and Procedural Order No. 1 concerning procedural matters.

The Claimant files its initial submission on jurisdiction and admissibility.

The Respondent files its memorial on jurisdiction and admissibility.

The Claimant files its counter-memorial on jurisdiction and admissibility

Following exchanges between the parties, the Claimant files a request for the Tribunal to decide on production of documents.

The Tribunal issues Procedural Order No. 2 concerning production of documents.

The Respondent files a reply on jurisdiction and admissibility.

Following exchanges between the parties, the Claimant files a request for the Tribunal to decide on production of documents.

The Respondent files observations on the Claimant’s request for the Tribunal to decide on production of documents.

The Tribunal issues Procedural Order No. 3 regarding production of documents.

The Claimant files its rejoinder on jurisdiction and admissibility.

The Tribunal issues Procedural Order No. 4 concerning procedural matters.

The Tribunal issues Procedural Order No. 5 concerning the organization of the hearing.

The Tribunal holds a hearing on jurisdiction by video conference.

The Tribunal issues Procedural Order No. 6 concerning procedural matters.

The Tribunal issues a decision on a preliminary issue.

The Claimant files a memorial on the merits.

The Respondent files a counter-memorial on the merits and a memorial on jurisdiction and admissibility.

The Tribunal issues Procedural Order No. 7 concerning production of documents.

The Tribunal issues Procedural Order No. 8 concerning production of documents.

The Tribunal issues Procedural Order No. 9 concerning production of documents.

The Tribunal issues Procedural Order No. 10 concerning production of documents.

The Tribunal issues Procedural Order No. 11 concerning production of documents.

The Claimant files a reply on the merits and a counter-memorial on jurisdiction and admissibility.

The Respondent files a request to address quantum in a separate phase of the proceeding.

The Claimant files observations on the request to address quantum in a separate phase of the proceeding.

The Respondent files a response to the Claimant’s observations of February 28, 2024.

The Tribunal issues a decision on the Respondent’s request to address quantum in a separate phase of the proceeding.

The Respondent files a rejoinder on the merits and a reply on jurisdiction and admissibility.

The Tribunal issues Procedural Order No. 12 concerning production of documents.

The Claimant files a request for the Tribunal to decide on the admissibility of new documents.

The Claimant files a rejoinder on jurisdiction and admissibility.

The Respondent files observations on the Claimant’s request of May 28, 2024.

The Tribunal issues Procedural Order No. 13 concerning the admissibility of new documents.

The Tribunal issues Procedural Order No. 14 concerning the organization of the hearing.

The Tribunal issues Procedural Order No. 15 concerning the admissibility of new documents.

The Tribunal holds a hearing on jurisdiction and the merits in Washington DC.

Each party files a statement of costs.

Each party files an updated statement of costs.

The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.

The Respondent files observations on the Claimant’s request of October 24, 2025.

The Claimant files a response to the Respondent’s observations of October 25, 2025.

The Tribunal issues Procedural Order No. 16 concerning the admissibility of new evidence.

The Tribunal renders its award; attached to the award is a separate opinion by arbitrator Horacio A. Grigera Naón.

The Respondent files a request for the correction of the award.

The Claimant files observations on the Respondent’s request for the correction of the award.