Arbitral Digest

Matter

EuroGas Inc. and Belmont Resources Inc. v. Slovak Republic (ICSID Case No. ARB/14/14)

Case no.
ARB/14/14
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 1 April 2015Arbitration

    1 April 2015Arbitration

    Procedural Order No. 1 dated 1 April 2015

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the applicable arbitration rules, tribunal administration, party representation, costs and advances, place of proceeding, written and oral procedure, evidence, hearings, and related procedural arrangements.

    Supporting details

    3 participants
    EuroGas Inc.
    Belmont Resources Inc.
    Slovak Republic
    International Centre for Settlement of Investment Disputes

    15 days later · 15 days

  2. 16 April 2015Arbitration

    16 April 2015Arbitration

    Procedural Order No. 2 dated 16 April 2015

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal addressed public access to hearings and documents and annexed treaty provisions concerning public access and confidentiality.

    Supporting details

    International Centre for Settlement of Investment Disputes

    2 months and 7 days later · 68 days

  3. 23 June 2015Arbitration

    23 June 2015Arbitration

    Procedural Order No. 3 dated 23 June 2015

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal denied the parties' requests for provisional measures, including the Claimants' requests concerning seized documents and intimidation and the Respondent's request for security for costs.

    Supporting details

    1 authority · 3 participants
    EuroGas Inc.
    Belmont Resources Inc.
    Slovak Republic
    International Centre for Settlement of Investment Disputes

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
      treaty

    2 months and 3 days later · 64 days

  4. 26 August 2015Arbitration

    26 August 2015Arbitration

    Procedural Order No. 4 dated 26 August 2015

    International Centre for Settlement of Investment Disputes

    Supporting details

    International Centre for Settlement of Investment Disputes

    4 months and 16 days later · 138 days

  5. 11 January 2016Arbitration

    11 January 2016Arbitration

    Procedural Order No. 5 dated 11 January 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal addressed the Claimants' decision not to be represented by Dr Hamid Gharavi at the scheduled hearing and cancelled the hearing scheduled for 18 to 22 January 2016.

    Supporting details

    International Centre for Settlement of Investment Disputes

    3 days later · 3 days

  6. 14 January 2016Arbitration

    14 January 2016Arbitration

    Procedural Order No. 6 dated 14 January 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rescheduled the hearing for 12 to 16 September 2016.

    Supporting details

    International Centre for Settlement of Investment Disputes

    7 months and 22 days later · 235 days

  7. 5 September 2016Arbitration

    5 September 2016Arbitration

    Procedural Order No. 7 dated 5 September 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal organized the five-day hearing, denied the Claimants' request to require Peter Kazimir to appear for examination, and addressed the Claimants' request for a provisional measure concerning United States bankruptcy proceedings.

    Supporting details

    International Centre for Settlement of Investment Disputes

    18 days later · 18 days

  8. 23 September 2016Arbitration

    23 September 2016Arbitration

    Procedural Order No. 8 dated 23 September 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal directed production of documents concerning VSK's first mining activity and the Claimants' agreement on allocation of proceeds, ordered costs submissions and transcript corrections, and directed that an edited hearing video be made available before online publication.

    Supporting details

    International Centre for Settlement of Investment Disputes

    10 months and 26 days later · 329 days

  9. 18 August 2017Arbitration

    18 August 2017Arbitration

    Award dated 18 August 2017

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal held that it lacked jurisdiction over EuroGas Inc. and Belmont Resources Inc. It apportioned the arbitration costs as follows: USD 425,262.35 to the Slovak Republic, USD 269,332.82 to Belmont Resources Inc., and USD 155,929.53 to EuroGas Inc. Each party was ordered to bear its own legal fees and other case expenses, and all other requests for relief were dismissed.

    Supporting details

    4 authorities · 8 participants
    EuroGas Inc.
    Belmont Resources Inc.
    Slovak Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Pierre Mayer
    Arbitrator
    Brigitte Stern
    Tribunal secretary
    Lindsay Gastrell
    Tribunal secretary
    Celine Lachmann

    Authorities cited

    4
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
      treaty
    • Agreement between Canada and the Slovak Republic for the Promotion and Protection of Investments (Canada-Slovakia BIT)
      treaty
    • Agreement between the United States of America and the Slovak Republic concerning the Reciprocal Encouragement and Protection of Investments (US-Slovakia BIT)
      treaty
    • Slovak Mining Act (Act No. 44/1988)
      statute
  10. 18 August 2017Arbitration

    2 years, 2 months and 13 days later · 804 days

  11. 31 October 2019Arbitration

    31 October 2019Arbitration

    Order of the Ad Hoc Committee on the Discontinuance of the Proceeding dated 31 October 2019

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee discontinued the annulment proceeding pursuant to ICSID Administrative and Financial Regulations 14(3)(d) and (e) because the Applicant did not pay the advance requested for the proceeding.

    Supporting details

    2 participants
    Belmont Resources Inc.
    Slovak Republic
    International Centre for Settlement of Investment Disputes

Matter record

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EuroGas Inc. and Belmont Resources Inc. v. Slovak Republic (ICSID Case No. ARB/14/14) · Matter