Arbitral Digest

Matter

Dan Cake (Portugal) S.A. v. Hungary (ICSID Case No. ARB/12/9)

Case no.
ARB/12/9
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 24 August 2015Arbitration

    24 August 2015Arbitration

    Decision on Jurisdiction and Liability dated 24 August 2015

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal affirmed jurisdiction over Dan Cake's claims and found that Hungary breached its obligations to accord Dan Cake's investment fair and equitable treatment and not to impair the liquidation of that investment by unfair measures. It directed the proceedings to continue to a further phase, reserved costs, and deferred loss, causation, and damages for that phase.

    Supporting details

    11 authorities · 16 participants
    Dan Cake (Portugal) S.A.
    Representative
    Antonio Andrade de Matos (For: Dan Cake (Portugal) S.A.)
    Representative
    Jorge Bastos Leitao (For: Dan Cake (Portugal) S.A.)
    Representative
    Andrade de Matos & Associados (For: Dan Cake (Portugal) S.A.)
    Hungary
    Representative
    Eric Ordway (For: Hungary)
    Representative
    Chip Roh (For: Hungary)
    Representative
    Marguerite Walter (For: Hungary)
    Representative
    Laszlo Nanyista (For: Hungary)
    Representative
    Tamas Simon (For: Hungary)
    Representative
    Szandra Wolf (For: Hungary)
    Representative
    Weil, Gotshal & Manges LLP (For: Hungary)
    Representative
    Siegler Ugyvedi Iroda (For: Hungary)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Pierre Mayer
    Arbitrator
    Jan Paulsson
    Arbitrator
    Toby Landau

    Authorities cited

    11
    • Agreement between the Republic of Portugal and the Republic of Hungary on the Reciprocal Promotion and Protection of Investments (Portugal-Hungary Bilateral Investment Treaty)
      statute
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute
    • Hungarian Act XLIX of 1991 on Bankruptcy and Liquidation Proceedings
      statute
    • Hungarian Act III of 1952 on the Code of Civil Procedure
      statute
    • International Law Commission Draft Articles on Responsibility of States for Internationally Wrongful Acts (ILC Draft Articles on State Responsibility, 2001)
      academic
    • Robert Azinian et al. v. United States of Mexico (ICSID Case No. ARB(AF)/97/2, Award of 1 November 1999)
      case-law
    • Mondev International Ltd v. United States of America (ICSID Case No. ARB(AF)/99/2, Award of 11 October 2002)
      case-law
    • The Loewen Group and Raymond L. Loewen v. United States of America (ICSID Case No. ARB(AF)/98/3, Award of 26 June 2003)
      case-law
    • Elettronica Sicula S.p.A. (ELSI), United States of America v. Italy (International Court of Justice, 1989 ICJ 15)
      case-law
    • Szeged High Court of Appeal decision dated 1 September 2004
      case-law
    • Andrea Csoke, Commentary to Act XLIX of 1991 on Bankruptcy and Liquidation Proceedings (Commentary to Act XLIX of 1991, p. 205)
      academic

Matter record

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Dan Cake (Portugal) S.A. v. Hungary (ICSID Case No. ARB/12/9) · Matter