Arbitral Digest

Matter

Bank of Nova Scotia v. Republic of Peru (ICSID Case No. ARB/22/30)

Case no.
ARB/22/30
Applicable rules
ICSID Arbitration Rules in force as of July 1, 2022
  1. 28 February 2024Arbitration

    28 February 2024Arbitration

    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 ICSID Arbitration Rules as modified by the Canada-Peru Free Trade Agreement.

    Supporting details

    6 participants
    Bank of Nova Scotia
    Republic of Peru
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Lucy Reed
    Arbitrator
    Kaj Hober
    Arbitrator
    Zachary Douglas
    Tribunal secretary
    Veronica Lavista
  2. 28 February 2024Arbitration

    28 February 2024Arbitration

    Procedural Order No. 2 on Transparency and Confidentiality

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal issued provisions governing transparency and confidentiality in the arbitration.

    Supporting details

    6 participants
    Bank of Nova Scotia
    Republic of Peru
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Lucy Reed
    Arbitrator
    Kaj Hober
    Arbitrator
    Zachary Douglas
    Tribunal secretary
    Veronica Lavista

    3 months and 3 days later · 93 days

  3. 31 May 2024Arbitration

    31 May 2024Arbitration

    Decision on Respondent's Rule 41 Application

    International Centre for Settlement of Investment Disputes

    Decision summary
    By majority, the Tribunal granted the Respondent's Rule 41 Application as to the Claimant's expropriation and fair and equitable treatment claims, dismissing those claims as manifestly without legal merit under the Canada-Peru Free Trade Agreement. It denied the application on all other grounds, allocated each party its own legal and other costs attributable to the application, reserved allocation of tribunal fees and administrative costs, and directed consultation on the timetable for the national treatment claim.

    Supporting details

    6 participants
    Bank of Nova Scotia
    Republic of Peru
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Lucy Reed
    Arbitrator
    Kaj Hober
    Arbitrator
    Zachary Douglas
    Tribunal secretary
    Veronica Lavista

    1 month and 1 day later · 32 days

  4. 2 July 2024Arbitration

    2 July 2024Arbitration

    Procedural Order No. 3 on Procedural Calendar

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal directed the parties to follow the attached procedural timetables.

    Supporting details

    International Centre for Settlement of Investment Disputes

    7 months and 2 days later · 217 days

  5. 4 February 2025Arbitration

    4 February 2025Arbitration

    Procedural Order No. 4 Revised Procedural Calendar

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal approved the parties' proposed revisions and directed them to follow the attached revised procedural calendar.

    Supporting details

    International Centre for Settlement of Investment Disputes

    21 days later · 21 days

  6. 25 February 2025Arbitration

    25 February 2025Arbitration

    Procedural Order No. 5 Redactions to the Claimant's Memorial on the Merits

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the parties' proposed redactions in the attached transparency schedules and ordered preparation of an integrated redacted version of the Claimant's Memorial on the Merits.

    Supporting details

    International Centre for Settlement of Investment Disputes

    7 months and 21 days later · 233 days

  7. 16 October 2025Arbitration

    16 October 2025Arbitration

    Procedural Order No. 6 on Document Production

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the contested document production requests as stated in the attached Redfern Schedules and ordered production by 7 November 2025 where applicable, excluding privileged, confidential, or highly sensitive information.

    Supporting details

    International Centre for Settlement of Investment Disputes

    3 months and 5 days later · 97 days

  8. 21 January 2026Arbitration

    21 January 2026Arbitration

    Procedural Order No. 7 on Privilege and Confidentiality of Documents

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal granted the Claimant's application in part and ordered Peru to produce specified contested documents subject to additional confidentiality measures, while excluding draft Constitutional Court judgments, opinions, and orders except for a draft matching the 2017 leaked judgment and related discussion. Costs were reserved.

    Supporting details

    International Centre for Settlement of Investment Disputes

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Bank of Nova Scotia v. Republic of Peru (ICSID Case No. ARB/22/30) · Matter