Arbitral Digest

Matter

Standard Chartered Bank (Hong Kong) Limited v. United Republic of Tanzania (ICSID Case No. ARB/15/41)

Case no.
ARB/15/41
Applicable rules
ICSID Arbitration Rules
  1. 27 June 2016Arbitration

    27 June 2016Arbitration

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the applicable ICSID Arbitration Rules, its composition and decision-making procedures, party representation, cost advances, London as the place of the proceeding, and English as the procedural language.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    3 months and 14 days later · 106 days

  2. 11 October 2016Arbitration

    11 October 2016Arbitration

    Procedural Order No. 2

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal issued the procedural rules and timetable governing the arbitration, including pleadings, document production, evidence, hearings, communications, and publication.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti
  3. 11 October 2016Arbitration

    11 October 2016Arbitration

    Procedural Order No. 3 on Bifurcation

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided not to bifurcate the proceedings because the preliminary objections were intertwined with the merits and bifurcation risked protracted proceedings without a real possibility of finally disposing of the dispute.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    9 months and 6 days later · 279 days

  4. 17 July 2017Arbitration

    17 July 2017Arbitration

    Procedural Order No. 4 on the Procedural Calendar

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal revised the procedural calendar and set March 2, 2018 for the Claimant's Rejoinder on jurisdiction while retaining the scheduled hearing period in London.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    1 month and 25 days later · 56 days

  5. 11 September 2017Arbitration

    11 September 2017Arbitration

    Procedural Order No. 5a on Production of Documents by the Respondent

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the Claimant's applications for document production, ordering production for specified documents, limiting other requests, making no order on some requests, and deferring costs.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti
  6. 11 September 2017Arbitration

    11 September 2017Arbitration

    Procedural Order No. 5b on Production of Documents by the Claimant

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the Respondent's applications for document production, ordering or limiting production for specified requests, making no order on others, and deferring costs.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    4 months and 4 days later · 126 days

  7. 15 January 2018Arbitration

    15 January 2018Arbitration

    Procedural Order No. 6a

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the Respondent's application concerning the Claimant's document production and issued directions on the remaining production issue.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti
  8. 15 January 2018Arbitration

    15 January 2018Arbitration

    Procedural Order No. 6b

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rejected the Respondent's application for further production and directed that no further reference be made to the unredacted version of a specified document, subject to possible further directions if privilege was abused.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    15 days later · 15 days

  9. 30 January 2018Arbitration

    30 January 2018Arbitration

    Procedural Order No. 7 on the Procedural Calendar

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal revised the procedural calendar, moving the hearing in London to July 16-27, 2018 and setting the Respondent's Reply on jurisdiction and Rejoinder on the merits for May 2, 2018 and the Claimant's Rejoinder on jurisdiction for June 18, 2018.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Aurelia Antonietti

    1 year, 8 months and 11 days later · 619 days

  10. 11 October 2019Arbitration

    11 October 2019Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal declared that it had jurisdiction, that the Claimant was the lawful assignee entitled to pursue its claims, and that Tanzania breached Articles 15.3, 16.1 and 16.2 of the Implementation Agreement. It held that the Implementation Agreement was terminated on July 6, 2018, awarded USD 185,449,440.04 with interest at 6-month LIBOR plus 2% from September 1, 2018 until full payment, and ordered Tanzania to bear its own legal costs and expenses.

    Supporting details

    6 participants
    Standard Chartered Bank (Hong Kong) Limited
    United Republic of Tanzania
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Ms Geraldine R. Fischer

Matter record

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Standard Chartered Bank (Hong Kong) Limited v. United Republic of Tanzania (ICSID Case No. ARB/15/41) · Matter