Arbitral Digest

Matter

AS PNB Banka and others v. Republic of Latvia (ICSID Case No. ARB/17/47)

Case no.
ARB/17/47
Applicable rules
ICSID Arbitration Rules
  1. 24 September 2018Arbitration

    24 September 2018Arbitration

    Ruling on Power of Tribunal to Issue Provisional Measures Whilst Proceedings are Suspended

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal held that the proceedings were suspended under the ICSID Arbitration Rules and that its power to recommend provisional measures was also suspended. It dismissed the claimants' application.

    Supporting details

    1 authority · 5 participants
    AS Norvik Banka and others
    Republic of Latvia
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Peter Tomka
    Tribunal secretary
    Francisco Abriani

    Authorities cited

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

    1 month and 6 days later · 36 days

  2. 30 October 2018Arbitration

    30 October 2018Arbitration

    Procedural Order No. 3: Decision on the European Commission's Application pursuant to Rule 37(2)

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal granted the European Commission leave to file a written non-disputing party submission on whether the investor-State arbitration mechanism in the Latvia-UK Bilateral Investment Treaty remained available. It rejected requests for access to the record and for oral submissions.

    Supporting details

    6 authorities · 7 participants
    AS Norvik Banka and others
    Republic of Latvia
    European Commission
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Peter Tomka
    Tribunal secretary
    Francisco Abriani

    Authorities cited

    6
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute
    • Slovak Republic v Achmea BV (Case C-284/16, EU:C:2018:158)
      case-law
    • Treaty on the Functioning of the European Union
      statute
    • Treaty on European Union
      statute
    • Vienna Convention on the Law of Treaties, 23 May 1969
      statute
    • United Kingdom-Latvia Bilateral Investment Treaty (Agreement signed 24 January 1994; entered into force 15 February 1995)
      statute

    1 year, 7 months and 17 days later · 595 days

  3. 16 June 2020Arbitration

    16 June 2020Arbitration

    Decision on the Proposals to Disqualify Messrs. James Spigelman, Peter Tomka and John M. Townsend

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Chair of the ICSID Administrative Council decided that Mr. Behrends had no standing to file a proposal for disqualification on behalf of the Bank. His proposals for disqualification and requests for access to the file were dismissed, and the shareholder claimants' proposal for disqualification was rejected.

    Supporting details

    1 authority · 9 participants
    AS PNB Banka
    Representative
    Okko Hendrik Behrends (For: AS PNB Banka)
    Republic of Latvia
    International Centre for Settlement of Investment Disputes
    Institutional administrator
    Vigo Krastins
    Arbitrator
    Peter Tomka
    Arbitrator
    David Malpass
    Tribunal secretary
    Francisco Abriani

    Authorities cited

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

    10 months and 28 days later · 332 days

  4. 14 May 2021Arbitration

    14 May 2021Arbitration

    Decision on the Intra-EU Objection

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rejected the Intra-EU Objection to its jurisdiction, reserved costs incurred to date for the final Award, and directed that the proceedings continue to the next phase under a procedural schedule to be determined.

    Supporting details

    5 authorities · 24 participants
    AS PNB Banka
    Representative
    Maris Vainovskis (For: AS PNB Banka)
    Representative
    Pierre-Olivier Savoie (For: AS PNB Banka)
    Representative
    Justine Touzet (For: AS PNB Banka)
    Representative
    Lena Kim (For: AS PNB Banka)
    Representative
    Lucas Mathieu (For: AS PNB Banka)
    Representative
    Marie P. Michon (For: AS PNB Banka)
    Republic of Latvia
    Representative
    Stephen Jagusch QC (For: Republic of Latvia)
    Representative
    Anthony Sinclair (For: Republic of Latvia)
    Representative
    Armando Neris (For: Republic of Latvia)
    Representative
    Kristina Buckberry (For: Republic of Latvia)
    Representative
    Quinn Emanuel Urquhart & Sullivan LLP (For: Republic of Latvia)
    Kristof Vizy
    VP Arbitration
    International Centre for Settlement of Investment Disputes
    Institutional administrator
    Vigo Krastins
    Arbitrator
    Peter Tomka
    Tribunal secretary
    Francisco Abriani
    Tribunal secretary
    Adam Butt
    Other

    Authorities cited

    5
    • Slovak Republic v Achmea BV (Case C-284/16, EU:C:2018:158)
      case-law
    • Opinion 1/17 (CJEU Opinion 1/17)
      case-law
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute
    • United Kingdom-Latvia Bilateral Investment Treaty (Agreement signed 24 January 1994; entered into force 15 February 1995)
      statute
    • Vienna Convention on the Law of Treaties, 23 May 1969
      statute

    2 months and 26 days later · 87 days

  5. 9 August 2021Arbitration

    9 August 2021Arbitration

    Procedural Order No. 9: Decision on Representation of AS PNB Banka

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal affirmed Mr. Krastins as the Bank's representative for all issues other than the Ancillary Claim, affirmed that the Directors were entitled to represent the Bank regarding the Ancillary Claim, granted Mr. Krastins and the Directors access to the case file, and directed the parties to consult on the timetable.

    Supporting details

    3 authorities · 14 participants
    AS PNB Banka
    Representative
    Okko Hendrik Behrends (For: AS PNB Banka)
    Representative
    Maris Vainovskis (For: AS PNB Banka)
    Representative
    Friedrich Rosenfeld (For: AS PNB Banka)
    Representative
    Verners Skrastins (For: AS PNB Banka)
    Representative
    Oliver Bramwell (For: AS PNB Banka)
    Representative
    Oleg Kutiavin (For: AS PNB Banka)
    Representative
    Dmitrii Kalmykov (For: AS PNB Banka)
    Representative
    Verbicka (For: AS PNB Banka)
    Republic of Latvia
    International Centre for Settlement of Investment Disputes
    Institutional administrator
    Vigo Krastins
    Arbitrator
    Peter Tomka

    Authorities cited

    3
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute
    • Carnegie Minerals (Gambia) Limited v Republic of Gambia (ICSID Case No. ARB/09/19, Decision on Representation, 7 October 2016)
      case-law
    • ECB and Others v Trasta Komercbanka and Others (Joined Cases C-663/17 P, C-665/17 P and C-669/17 P, 5 November 2019)
      case-law

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AS PNB Banka and others v. Republic of Latvia (ICSID Case No. ARB/17/47) · Matter