Arbitral Digest

Matter

Accession Mezzanine Capital L.P. and Danubius Kereskedohaz Vagyonkezelo Zrt. v. Hungary (ICSID Case No. ARB/12/3)

Case no.
ARB/12/3
  1. 16 January 2013Arbitration

    16 January 2013Arbitration

    Decision on Respondent's Objection under Arbitration Rule 41(5)

    Decision summary
    The Tribunal held that the parties agreed to arbitrate only expropriation rights and obligations under Article 6 of the UK-Hungary Bilateral Investment Treaty. It held that international law may inform the expropriation and compensation analysis, that Article 42(1) of the ICSID Convention is not an independent source of obligation, and that most-favoured-nation provisions may apply to expropriation. The Respondent's Rule 41(5) objection was granted in part and denied in part.

    Supporting details

    13 authorities · 19 participants
    Accession Mezzanine Capital L.P.
    Representative
    Covington & Burling LLP (For: Accession Mezzanine Capital L.P.)
    Representative
    Eugene D. Gulland (For: Accession Mezzanine Capital L.P.)
    Representative
    Miguel Lopez Forastier (For: Accession Mezzanine Capital L.P.)
    Representative
    Alexander O. Canizares (For: Accession Mezzanine Capital L.P.)
    Danubius Kereskedohaz Vagyonkezelo Zrt.
    Hungary
    Representative
    Arnold & Porter LLP (For: Hungary)
    Representative
    Jean E. Kalicki (For: Hungary)
    Representative
    Arnold & Porter (UK) LLP (For: Hungary)
    Representative
    Dmitri Evseev (For: Hungary)
    Representative
    Kende, Molnar-Biro, Katona (For: Hungary)
    Representative
    Janos Katona (For: Hungary)
    Representative
    Gyorgy Molnar-Biro (For: Hungary)
    Representative
    Gabor Puskas (For: Hungary)
    Institution
    Arbitrator
    Marc Lalonde
    Arbitrator
    Donald M. McRae
    Tribunal secretary
    Mairee Uran-Bidegain

    Authorities cited

    13
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (18 March 1965)
      statute
    • Agreement between the United Kingdom and Hungary for the Promotion and Reciprocal Protection of Investments (9 March 1987)
      statute
    • Telenor Mobile Communications A.S. v. Hungary (ICSID Case No. ARB/04/15)
      case-law
    • William Nagel v. Czech Republic (SCC Case No. 049/2002)
      case-law
    • Saipem S.p.A. v. Bangladesh (ICSID Case No. ARB/07/5)
      case-law
    • Generation Ukraine Inc. v. Ukraine (ICSID Case No. ARB/00/9)
      case-law
    • Trans-Global Petroleum Inc. v. Jordan (ICSID Case No. ARB/07/25)
      case-law
    • Brandes Investment Partners, LP v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/08/3)
      case-law
    • Global Trading Resource Corp. and Globex International, Inc. v. Ukraine (ICSID Case No. ARB/09/11)
      case-law
    • Rachel S. Grynberg, Stephen M. Grynberg, Miriam Z. Grynberg, and RSM Production Corporation v. Grenada (ICSID Case No. ARB/10/6)
      case-law
    • SD Myers Inc. v. Government of Canada (UNCITRAL)
      case-law
    • Investment Protection Treaties: United Kingdom Experience (36 ICLQ 908 (1987))
      academic
    • International Investment Arbitration (Oxford University Press, 2007)
      academic

    6 months and 23 days later · 204 days

  2. 8 August 2013Arbitration

    8 August 2013Arbitration

    Decision on Respondent's Notice of Jurisdictional Objections and Request for Bifurcation

    Decision summary
    The Tribunal ordered that the case be bifurcated and set a schedule for written submissions and a hearing on jurisdiction. It held that the jurisdictional issues were significant, warranted focused examination in a separate phase, and overlapped substantially with the merits. It invited submissions on whether the Respondent's objections were filed as early as possible under Arbitration Rule 41(1), left that timeliness issue unresolved, and reserved costs.

    Supporting details

    8 authorities · 19 participants
    Accession Mezzanine Capital L.P.
    Representative
    Covington & Burling LLP (For: Accession Mezzanine Capital L.P.)
    Representative
    Eugene D. Gulland (For: Accession Mezzanine Capital L.P.)
    Representative
    Miguel Lopez Forastier (For: Accession Mezzanine Capital L.P.)
    Representative
    Alexander O. Canizares (For: Accession Mezzanine Capital L.P.)
    Danubius Kereskedohaz Vagyonkezelo Zrt.
    Hungary
    Representative
    Arnold & Porter LLP (For: Hungary)
    Representative
    Jean E. Kalicki (For: Hungary)
    Representative
    Arnold & Porter (UK) LLP (For: Hungary)
    Representative
    Dmitri Evseev (For: Hungary)
    Representative
    Kende, Molnar-Biro, Katona (For: Hungary)
    Representative
    Janos Katona (For: Hungary)
    Representative
    Gyorgy Molnar-Biro (For: Hungary)
    Representative
    Gabor Puskas (For: Hungary)
    Institution
    Arbitrator
    Marc Lalonde
    Arbitrator
    Donald M. McRae
    Tribunal secretary
    Mairee Uran-Bidegain

    Authorities cited

    8
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (18 March 1965)
      statute
    • Agreement between the United Kingdom and Hungary for the Promotion and Reciprocal Protection of Investments (9 March 1987)
      statute
    • Burimi SRL and Eagle Games SH.A. v. Albania (ICSID Case No. ARB/11/18)
      case-law
    • Standard Chartered Bank v. Tanzania (ICSID Case No. ARB/10/12)
      case-law
    • Emmis International Holding B.V. et al. v. Hungary (ICSID Case No. ARB/12/2)
      case-law
    • Glamis Gold Ltd. v. United States of America (UNCITRAL)
      case-law
    • Desert Line Projects LLC v. Yemen (ICSID Case No. ARB/05/17)
      case-law
    • Waguih Elie George Siag and Clorinda Vecchi v. Egypt (ICSID Case No. ARB/05/15)
      case-law

Matter record

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Accession Mezzanine Capital L.P. and Danubius Kereskedohaz Vagyonkezelo Zrt. v. Hungary (ICSID Case No. ARB/12/3) · Matter