Arbitral Digest

Matter

AES Summit Generation Limited and AES-Tisza Eromu Kft v Republic of Hungary (ICSID Case No. ARB/07/22)

Case no.
ARB/07/22
Applicable rules
2006 ICSID Arbitration Rules
  1. 23 September 2010Arbitration

    23 September 2010Arbitration

    Award dated 23 September 2010

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal held that it had jurisdiction over the ECT claims, found no breach of ECT Articles 10(1), 10(7), or 13, ordered the parties to share the arbitration costs equally, ordered each party to bear its own legal fees and costs, and dismissed the remaining claims.

    Supporting details

    5 authorities · 6 participants
    AES Summit Generation Limited
    AES-Tisza Eromu Kft
    Republic of Hungary
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Brigitte Stern

    Authorities cited

    5
    • Energy Charter Treaty, 1994
      statute
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, 1965)
      statute
    • Hungarian Act XLVIII of 1994 on the Generation, Supply and Provision of Electricity (Act XLVIII of 1994)
      statute
    • Hungarian Act CX of 2001 on Electricity (Act CX of 2001)
      statute
    • Hungarian Act LXXXVI of 2007 on Electricity (Act LXXXVI of 2007)
      statute

    1 year, 9 months and 6 days later · 645 days

  2. 29 June 2012Arbitration

    29 June 2012Arbitration

    Decision on Annulment dated 29 June 2012

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee unanimously dismissed the Applicants' annulment claims under Articles 52(1)(b) and 52(1)(e) of the ICSID Convention in their entirety. It ordered the Applicants to bear all ICSID costs and the Respondent's legal expenses and costs.

    Supporting details

    2 authorities · 17 participants
    AES Summit Generation Limited
    Representative
    Stephen Jagusch (For: AES Summit Generation Limited)
    Representative
    Anthony Sinclair (For: AES Summit Generation Limited)
    Representative
    Jeffrey Sullivan (For: AES Summit Generation Limited)
    Representative
    Orsolya Toth (For: AES Summit Generation Limited)
    AES-Tisza Eromu Kft
    Republic of Hungary
    Representative
    Timothy Foden (For: Republic of Hungary)
    Representative
    Jean E. Kalicki (For: Republic of Hungary)
    Representative
    Dmitri Evseev (For: Republic of Hungary)
    Representative
    Mallory B. Silberman (For: Republic of Hungary)
    Representative
    Janos Katona (For: Republic of Hungary)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Rolf Knieper
    Tribunal secretary
    Frauke Nitschke
    Tribunal secretary
    Eloise Obadia

    Authorities cited

    2
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, 1965)
      statute
    • Vienna Convention on the Law of Treaties, 1969
      statute

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AES Summit Generation Limited and AES-Tisza Eromu Kft v Republic of Hungary (ICSID Case No. ARB/07/22) · Matter