Arbitral Digest

Matter

Edmond Khudyan and Arin Capital & Investment Corp. v. Republic of Armenia (ICSID Case No. ARB/17/36)

Case no.
ARB/17/36
Applicable rules
ICSID Rules of Procedure for Arbitration Proceedings (2006)
  1. 15 December 2021Arbitration

    15 December 2021Arbitration

    Award dated 15 December 2021

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that it lacked jurisdiction ratione personae over Edmond Khudyan and jurisdiction ratione materiae over Arin Capital & Investment Corp.'s alleged investments. It dismissed the claims for lack of jurisdiction and ordered the Claimants to pay the Respondent USD 337,466.34 for the expended portion of the Respondent's advances to ICSID and USD 400,000 toward the Respondent's legal fees and expenses.

    Supporting details

    2 authorities · 6 participants
    Edmond Khudyan
    Arin Capital & Investment Corp.
    Republic of Armenia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Ank Santens
    Arbitrator
    Zachary Douglas

    Authorities cited

    2
    • 1995 Citizenship Law of the Republic of Armenia (Law of the Republic of Armenia on Citizenship dated 16 November 1995)
      statute
    • 1978 Citizenship Law of the USSR (USSR Citizenship Law of 1978)
      statute

    1 year, 7 months and 6 days later · 583 days

  2. 21 July 2023Arbitration

    21 July 2023Arbitration

    Decision on Annulment dated 21 July 2023

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee found that the Tribunal had manifestly exceeded its powers and annulled paragraphs 203-267 and 452(1), paragraph 452(4) insofar as it concerned Mr Khudyan, and paragraph 452(5) of the Award. It directed payment of the escrowed funds and interest to Mr Khudyan, and ordered the Republic of Armenia to pay him USD 288,465.57 for Committee and ICSID fees and costs and USD 149,928.27 for counsel's fees and other costs.

    Supporting details

    18 authorities · 6 participants
    Edmond Khudyan
    Republic of Armenia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Tina Cicchetti
    Tribunal secretary
    Laura Bergamini

    Authorities cited

    18
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States
      statute
    • ICSID Rules of Procedure for Arbitration Proceedings (ICSID Arbitration Rules in effect as of April 2006)
      rules
    • ICSID Administrative and Financial Regulations (2006) (as amended and effective 10 April 2006)
      statute
    • International Law Commission Model Rules on Arbitral Procedure (1958) (Text adopted by the International Law Commission at its tenth session, 1958)
      rules
    • Declaration of Independence of the Republic of Armenia (23 August 1990)
      statute
    • Constitution of the Armenian Soviet Socialist Republic (1978) (1978)
      statute
    • Constitution of the Union of Soviet Socialist Republics (1977) (7 October 1977)
      statute
    • Law of the USSR on the Procedure for Deciding Questions Connected to the Exit of a Union Republic from the USSR (3 April 1990 (No. 1410-I))
      statute
    • Treaty between the United States of America and the Republic of Armenia concerning the reciprocal encouragement and protection of investments (signed 23 September 1992, entered into force 29 March 1996)
      statute
    • Central European Aluminium Company (CEAC) v. Montenegro (ICSID Case No. ARB/14/8, Decision on Annulment, 1 May 2018)
      case law
    • Compañía de Aguas del Aconquija S.A. and Vivendi Universal v. Argentine Republic (ICSID Case No. ARB/97/3)
      case law
    • EDF International S.A., SAUR International S.A. and León Participaciones Argentinas S.A. v. Argentine Republic (ICSID Case No. ARB/03/23, Decision on Annulment, 5 February 2016)
      case law
    • Empresas Lucchetti, S.A. and Lucchetti Peru, S.A. v. Republic of Peru (ICSID Case No. ARB/03/4, Decision on Annulment, 5 September 2007)
      case law
    • Hussein Nuaman Soufraki v. United Arab Emirates (ICSID Case No. ARB/02/7)
      case law
    • MTD Equity Sdn. Bhd. and MTD Chile S.A. v. Republic of Chile (ICSID Case No. ARB/01/7, Decision on Annulment, 21 March 2007)
      case law
    • TECO Guatemala Holdings, LLC v. Republic of Guatemala (ICSID Case No. ARB/10/23, Decision on Annulment, 5 April 2016)
      case law
    • Wena Hotels Limited v. Arab Republic of Egypt (ICSID Case No. ARB/98/4, Decision on Application for Annulment, 5 February 2002)
      case law
    • CDC Group plc v. Republic of Seychelles (ICSID Case No. ARB/02/14)
      case law

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Edmond Khudyan and Arin Capital & Investment Corp. v. Republic of Armenia (ICSID Case No. ARB/17/36) · Matter