Arbitral Digest

Matter

Poštová banka, a.s. and ISTROKAPITAL SE v. Hellenic Republic (ICSID Case No. ARB/13/8)

Case no.
ARB/13/8
Applicable rules
ICSID Arbitration Rules in force as of April 10, 2006 · International Bar Association Rules on the Taking of Evidence in International Arbitration (2010)
  1. 20 December 2013Arbitration

    20 December 2013Arbitration

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the procedural framework for the arbitration, including the applicable rules, representation, document production, and hearing arrangements.

    Supporting details

    1 authority · 4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute

    20 days later · 20 days

  2. 9 January 2014Arbitration

    9 January 2014Arbitration

    Procedural Order No. 2

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal adopted a procedural calendar for a possible merits phase and confirmed Washington, D.C. as the place of the merits hearing.

    Supporting details

    4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    13 days later · 13 days

  3. 22 January 2014Arbitration

    22 January 2014Arbitration

    Procedural Order No. 3

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal resolved the disputed requests for production of documents concerning jurisdiction, granting, partially granting, or declining requests as specified and directing completion of production by January 24, 2014.

    Supporting details

    1 authority · 4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute

    1 month and 12 days later · 43 days

  4. 6 March 2014Arbitration

    6 March 2014Arbitration

    Procedural Order No. 4

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal approved the parties' joint proposal for an amended procedural calendar and new dates for the jurisdictional hearing and subsequent merits phase.

    Supporting details

    4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    2 months and 21 days later · 82 days

  5. 27 May 2014Arbitration

    27 May 2014Arbitration

    Procedural Order No. 5

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal deferred its decision on disputed documents until after the Claimants' Memorial on the Merits and Counter-Memorial on Jurisdiction, and ordered the Respondent to return the main document by May 30, 2014 without prejudice to a later production request.

    Supporting details

    1 authority · 4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    Authorities cited

    1
    • ICSID Rules of Procedure for Arbitration Proceedings (ICSID Arbitration Rules in effect as of April 2006)
      rules

    1 month and 23 days later · 54 days

  6. 20 July 2014Arbitration

    20 July 2014Arbitration

    Procedural Order No. 6

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal denied certain requests for production, granted other requests as narrowed in the Redfern Schedule, requested confirmation concerning the first round of production, and denied production of communications withheld on attorney-client privilege grounds.

    Supporting details

    1 authority · 4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute

    3 days later · 3 days

  7. 23 July 2014Arbitration

    23 July 2014Arbitration

    Clarification to Procedural Order No. 6

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal accepted the Respondent's request for clarification and amended Requests Nos. 2 and 7 concerning the scope of documents to be produced.

    Supporting details

    4 participants
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern
    Institutional administrator
    Martina Polasek

    8 months and 17 days later · 260 days

  8. 9 April 2015Arbitration

    9 April 2015Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal unanimously decided that it had no jurisdiction over the dispute. The parties were to bear the arbitration costs in equal shares, each party was to bear its own legal fees and expenses, and all other claims were dismissed.

    Supporting details

    12 authorities · 6 participants
    Poštová banka, a.s.
    ISTROKAPITAL SE
    Hellenic Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Eduardo Zuleta
    Arbitrator
    Brigitte Stern

    Authorities cited

    12
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute
    • Slovakia-Greece Bilateral Investment Treaty (Agreement between the Government of the Hellenic Republic and the Government of the Czech and Slovak Federal Republic for the Promotion and Reciprocal Protection of Investments, June 3, 1991)
      statute
    • Cyprus-Greece Bilateral Investment Treaty (Agreement between the Government of the Hellenic Republic and the Government of the Republic of Cyprus on the Mutual Promotion and Protection of Investments, March 30, 1992)
      statute
    • Vienna Convention on the Law of Treaties, May 23, 1969
      statute
    • Greek Law 2198 of 1994
      statute
    • Greek Bondholder Act (Law 4050/2012)
      statute
    • Fedax N.V. v. Republic of Venezuela (ICSID Case No. ARB/96/3, Decision on Objections to Jurisdiction, July 11, 1997)
      case law
    • Abaclat v. Argentine Republic (ICSID Case No. ARB/07/5, Decision on Jurisdiction and Admissibility, August 4, 2011)
      case law
    • Ambiente Ufficio S.p.A. et al. v. Argentine Republic (ICSID Case No. ARB/08/9, Decision on Jurisdiction and Admissibility, February 8, 2013)
      case law
    • Romak S.A. v. Republic of Uzbekistan (UNCITRAL, PCA Case No. AA280, Award, November 26, 2009)
      case law
    • KT Asia Investment Group B.V. v. Republic of Kazakhstan (ICSID Case No. ARB/09/8, Award, October 17, 2013)
      case law
    • CSOB v. Slovak Republic (ICSID Case No. ARB/97/4, Decision on Jurisdiction, May 24, 1999)
      case law

    6 months and 26 days later · 209 days

  9. 4 November 2015Arbitration

    4 November 2015Arbitration

    Procedural Order No. 1 (Annulment Proceeding)

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee established the procedural rules and schedule governing the annulment proceeding.

    Supporting details

    1 authority · 6 participants
    Poštová banka, a.s.
    Hellenic Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Hi-Taek Shin
    Institutional administrator
    Martina Polasek

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute

    10 months and 25 days later · 330 days

  10. 29 September 2016Arbitration

    29 September 2016Arbitration

    Decision on Poštová banka's Application for Partial Annulment of the Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee dismissed Poštová banka's application for partial annulment of the Award, ordered Poštová banka to bear the full ICSID costs and expenses of the annulment proceeding, and decided that each party would bear its own legal representation and expense costs.

    Supporting details

    9 authorities · 5 participants
    Poštová banka, a.s.
    Hellenic Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Hi-Taek Shin

    Authorities cited

    9
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute
    • Slovakia-Greece Bilateral Investment Treaty (Agreement between the Government of the Hellenic Republic and the Government of the Czech and Slovak Federal Republic for the Promotion and Reciprocal Protection of Investments, June 3, 1991)
      statute
    • Vienna Convention on the Law of Treaties, May 23, 1969
      statute
    • Maritime International Nominees Establishment v. Republic of Guinea (ICSID Case No. ARB/84/4, Decision on Partial Annulment, December 14, 1989)
      case law
    • Soufraki v. United Arab Emirates (ICSID Case No. ARB/02/7, Decision on Annulment, June 5, 2007)
      case law
    • Wena Hotels Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/98/4, Decision on Annulment, February 5, 2002)
      case law
    • Compañía de Aguas del Aconquija S.A. and Vivendi Universal S.A. v. Argentine Republic (ICSID Case No. ARB/97/3, Decision on Annulment, July 3, 2002)
      case law
    • CMS Gas Transmission Company v. Argentine Republic (ICSID Case No. ARB/01/8, Decision on Annulment, September 25, 2007)
      case law
    • M.C.I. Power Group, L.C. and New Turbine, Inc. v. Republic of Ecuador (ICSID Case No. ARB/03/6, Decision on Annulment, October 19, 2009)
      case law

Matter record

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Poštová banka, a.s. and ISTROKAPITAL SE v. Hellenic Republic (ICSID Case No. ARB/13/8) · Matter