Case Details

Inversión y Gestión de Bienes, IGB, S.L. and IGB18 Las Rozas, S.L. v. Kingdom of Spain (ICSID Case No. ARB/12/17)

Subject of Dispute:

Construction project
Economic Sector:

Construction
Instrument(s) Invoked:

BIT Spain - Venezuela, Republica Bolivariana de 1995
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

IGB18 Las Rozas, S.L. (Spanish), Inversión y Gestión de Bienes, IGB, S.L. (Spanish)
Respondent(s):

Kingdom of Spain (Spanish)
Date Registered:

July 9, 2012
Date of Constitution of Tribunal:

November 15, 2012

Composition of Tribunal

President:

Rodrigo OREAMUNO (Costa Rican) - Appointed by the Parties

Party Representatives

Claimant(s):

Parra & Asociados, Madrid, Spain
Urbe Asesores Jurídicos, Madrid, Spain
WDA Legal, S.C., Caracas, Venezuela
Respondent(s):

Subdirección General Servicios Contenciosos Abogacía General del Estado, Spain
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

August 14, 2015 - The Sole Arbitrator renders the award.

(a) Original Proceeding

Published Decisions

Excerpts of the Award

Excerpts of the Award - Introductory Note

Available on the ICSID Website

Excerpts of the Award (August 14, 2015) Spanish (Original)

Excerpts of the Award - Introductory Note (August 14, 2015) English (Original); Spanish (Original)

(a) Original Proceeding

Date	Development
July 9, 2012	The Secretary-General registers a request for the institution of arbitration proceedings.
November 15, 2012	The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. The Sole Arbitrator is Rodrigo Oreamuno (Costa Rican).
November 15, 2012	Following appointment by the parties, Rodrigo Oreamuno (Costa Rican) accepts his appointment as Sole Arbitrator.
December 11, 2012	The Sole Arbitrator holds a first session by telephone conference.
January 30, 2013	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
February 1, 2013	The Claimants file observations on the Respondent's request to address the objections to jurisdiction as a preliminary question.
February 5, 2013	The Sole Arbitrator issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended.
March 22, 2013	The Claimants file a counter-memorial on jurisdiction.
June 21, 2013	The Sole Arbitrator issues a decision on jurisdiction.
July 1, 2013	The Sole Arbitrator issues Procedural Order No. 2 concerning the procedural calendar.
September 19, 2013	The Claimants file a memorial on liability.
November 19, 2013	The Respondent files a counter-memorial on liability.
December 26, 2013	The Claimants file a reply on liability.
January 23, 2014	The Sole Arbitrator issues Procedural Order No. 3 concerning procedural matters.
March 11, 2014	The Sole Arbitrator issues Procedural Order No. 4 concerning procedural matters.
March 28, 2014	The Respondent files a rejoinder on liability.
April 3, 2014	The Sole Arbitrator issues Procedural Order No. 5 concerning procedural matters.
April 29, 2014	The Claimants file a written submission in accordance with Procedural Order No. 5.
May 12, 2014	The Sole Arbitrator issues Procedural Order No. 6 concerning procedural matters.
May 16, 2014	The Respondent files observations on the Claimants’ written submission of April 29, 2014.
June 13, 2014	The Sole Arbitrator issues Procedural Order No. 7 concerning procedural matters.
September 18, 2014	The Sole Arbitrator issues Procedural Order No. 8 concerning procedural matters.
November 24, 2014 - November 27, 2014	The Tribunal holds a hearing on liability and quantum in Madrid.
December 12, 2014	The Tribunal poses questions to the parties.
December 22, 2014	Each party files answers to the questions posed by the Tribunal on December 12, 2014.
March 16, 2015	Each party files a statement of costs.
March 17, 2015	The Respondent files observations on the Claimants’ statement of costs.
March 18, 2015	The Claimants file a request for the Sole Arbitrator to decide on disclosure of information.
April 1, 2015	The Sole Arbitrator decides on disclosure of information.
April 7, 2015	The Claimants file a response to the Respondent’s observations of March 17, 2015.
April 10, 2015	The Respondent files further observations on the Claimants’ response of April 7, 2015.
April 21, 2015	The Sole Arbitrator declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
August 14, 2015	The Sole Arbitrator renders the award.