Arbitral Digest

Matter

Autopista Concesionada de Venezuela, C.A. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/00/5)

Case no.
ARB/00/5
Applicable rules
ICSID Arbitration Rules
  1. 27 September 2001Arbitration

    27 September 2001Arbitration

    Decision on Jurisdiction dated 27 September 2001

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Arbitral Tribunal held that it had jurisdiction over the dispute submitted to it. It reserved arbitration costs, legal fees, and other expenses connected with the jurisdiction issue for the Final Award.

    Supporting details

    10 authorities · 5 participants
    Autopista Concesionada de Venezuela, C.A.
    Bolivarian Republic of Venezuela
    International Centre for Settlement of Investment Disputes

    Authorities cited

    10
    • Venezuelan Decree Law No. 138 on Concessions for National Public Works and Public Services (Decree Law No. 138)
      statute
    • Venezuelan Executive Decree No. 502 (Executive Decree No. 502)
      statute
    • Banro American Resources, Inc. and Societe Aurifere du Kivu et du Maniema, S.A.R.L. v. Democratic Republic of the Congo (ICSID Case No. ARB/98/7, Award)
      case-law
    • Convention on the Settlement of Investment Disputes between States and Nationals of other States
      treaty
    • Holiday Inns S.A. v. Morocco (ICSID Case No. ARB/72/1)
      case-law
    • Amco Asia Corporation and Others v. Republic of Indonesia (ICSID Case No. ARB/81/1, Decision on Jurisdiction, September 25, 1983)
      case-law
    • Vacuum Salt Products Ltd. v. Government of the Republic of Ghana (ICSID Case No. ARB/92/1, Award, February 16, 1994)
      case-law
    • Banro American Resources, Inc. and Societe Aurifere du Kivu et du Maniema, S.A.R.L. v. Democratic Republic of the Congo (ICSID Case No. ARB/98/7, Award Declining Jurisdiction, September 1, 2000)
      case-law
    • Liberian Eastern Timber Corporation v. Government of the Republic of Liberia (ICSID Case No. ARB/83/2, Award, March 31, 1986)
      case-law
    • Societe Ouest Africaine des Betons Industriels v. Republic of Senegal (ICSID Case No. ARB/82/1, Decision on Jurisdiction, August 1, 1984)
      case-law

    1 year, 11 months and 27 days later · 726 days

  2. 23 September 2003Arbitration

    23 September 2003Arbitration

    Award dated 23 September 2003

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Arbitral Tribunal held that Venezuela breached Clauses 22, 23, 31, 32, and 64 of the Concession Agreement; held that Aucoven was entitled to terminate the Agreement under Clause 60(2); awarded specified compensation for out-of-pocket losses and assets contributed, with simple interest at the contractual average lending rate of the five principal banks; declined to award lost profits and compound interest; and ordered each party to bear its own arbitration expenses and half of the arbitration costs.

    Supporting details

    9 authorities · 5 participants
    Autopista Concesionada de Venezuela, C.A.
    Bolivarian Republic of Venezuela
    International Centre for Settlement of Investment Disputes

    Authorities cited

    9
    • Venezuelan Decree Law No. 138 on Concessions for National Public Works and Public Services (Decree Law No. 138)
      statute
    • Venezuelan Executive Decree No. 502 (Executive Decree No. 502)
      statute
    • Venezuelan Civil Code
      statute
    • Liberian Eastern Timber Corporation v. Liberia (ICSID Case No. ARB/83/2, Award, March 31, 1986)
      case-law
    • Wena Hotels Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/98/4, Decision, 2002)
      case-law
    • Christoph Schreuer, The ICSID Convention: A Commentary (Cambridge, 2001)
      academic
    • Convention on the Settlement of Investment Disputes between States and Nationals of other States
      treaty
    • Wena Hotels Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/98/4, Award, December 8, 2000)
      case-law
    • Liberian Eastern Timber Corporation v. Government of the Republic of Liberia (ICSID Case No. ARB/83/2, Award, March 31, 1986)
      case-law

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Autopista Concesionada de Venezuela, C.A. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/00/5) · Matter