Matter
Occidental Petroleum Corporation and Occidental Exploration and Production Company v. Republic of Ecuador (ICSID Case No. ARB/06/11)
- 17 August 2007Arbitration
17 August 2007Arbitration
Decision on Provisional Measures dated 17 August 2007
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal rejected the Claimants' amended application for provisional measures and made no order as to costs at that stage.
Supporting details
2 authoritiesInternational Centre for Settlement of Investment Disputes
1 year and 23 days later · 389 days
- 9 September 2008Arbitration
9 September 2008Arbitration
Decision on Jurisdiction dated 9 September 2008
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal denied both jurisdictional objections and Ecuador's alternative request to stay the arbitration, declared that it had jurisdiction over both Claimants' claims, and reserved costs.
Supporting details
2 authoritiesInternational Centre for Settlement of Investment Disputes
4 years and 26 days later · 1487 days
- 5 October 2012Arbitration
5 October 2012Arbitration
Award dated 5 October 2012
International Centre for Settlement of Investment Disputes
- Decision summary
- The Tribunal found treaty and Ecuadorian-law breaches, awarded the Claimants US$1,769,625,000 in damages with pre-award and post-award interest, dismissed the counterclaims except for the specified contractual breach, and allocated ICSID and Tribunal costs equally while each party bore its own costs.
Supporting details
2 authorities · 3 participantsOccidental Petroleum Corporation
Occidental Exploration and Production Company
Republic of Ecuador
International Centre for Settlement of Investment Disputes
6 months and 5 days later · 187 days
- 10 April 2013Arbitration
10 April 2013Arbitration
Procedural Order No. 1 dated 10 April 2013
International Centre for Settlement of Investment Disputes
- Decision summary
- The ad hoc Committee set the procedural rules governing the annulment proceeding, including the applicable ICSID Arbitration Rules, constitution, place of proceeding, languages, written and oral procedures, evidence, hearings, publication, and other procedural matters.
Supporting details
2 authoritiesInternational Centre for Settlement of Investment Disputes
5 months and 20 days later · 173 days
- 30 September 2013Arbitration
30 September 2013Arbitration
Decision on the Stay of Enforcement of the Award dated 30 September 2013
International Centre for Settlement of Investment Disputes
- Decision summary
- The Committee continued the stay of enforcement of the Award unconditionally for the time being and reserved the decision on costs.
Supporting details
1 authorityInternational Centre for Settlement of Investment Disputes
11 months and 24 days later · 358 days
- 23 September 2014Arbitration
23 September 2014Arbitration
Decision on the Request to Modify the Decision on the Stay of Enforcement of the Award dated 23 September 2014
International Centre for Settlement of Investment Disputes
- Decision summary
- The Committee found the request to modify the stay premature and required Ecuador to inform the Committee in advance before taking action to enforce the Tax Judgment against any Claimant or its assets.
Supporting details
2 authoritiesInternational Centre for Settlement of Investment Disputes
1 year, 1 month and 10 days later · 405 days
- 2 November 2015United States
2 November 2015United States
Decision on Annulment dated 2 November 2015
International Centre for Settlement of Investment Disputes ad hoc Committee
- Decision summary
- The Committee unanimously partially annulled the Award for manifest excess of powers because the Tribunal assumed jurisdiction over the investment beneficially owned by Andes, reducing the proper compensation to US$1,061,775,000. The remainder of the Award was unaffected; the other annulment grounds were rejected; each party was ordered to bear one half of the ICSID costs and its own litigation costs and expenses; and the stay of enforcement was terminated.