Arbitral Digest

Matter

BA Desarrollos LLC v. Argentine Republic (ICSID Case No. ARB/23/32)

Case no.
ARB/23/32
Applicable rules
ICSID Arbitration Rules in force as of July 1, 2022
  1. 15 March 2024Arbitration

    15 March 2024Arbitration

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the procedural rules governing the arbitration, including the applicable ICSID Arbitration Rules, the constitution and administration of the Tribunal, representation, document production, hearings, and the procedural calendar.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    1 month and 14 days later · 45 days

  2. 29 April 2024Arbitration

    29 April 2024Arbitration

    Procedural Order No. 2

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the Respondent's requests for production of documents on preliminary objections, rejecting requests that were not sufficiently narrow or specific and ordering or noting production where appropriate.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    1 month and 22 days later · 52 days

  3. 20 June 2024Arbitration

    20 June 2024Arbitration

    Procedural Order No. 3

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the Respondent's allegations of non-compliance with Procedural Order No. 2. It found that the Claimant had adequately complied with Document Request No. 25 and ordered no further production on that request.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    29 days later · 29 days

  4. 19 July 2024Arbitration

    19 July 2024Arbitration

    Procedural Order No. 4

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal ordered the lifting of specified redactions concerning BA Desarrollos, EMS Capital, EMS Capital Holding, EMS Opportunity, and EMS Continuation, and ordered the Claimant to submit a new version of Procedural Order No. 2.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    27 days later · 27 days

  5. 15 August 2024Arbitration

    15 August 2024Arbitration

    Procedural Order No. 5

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rejected the Respondent's request for production of full, unredacted versions of identified financial material and ordered no further action regarding that material.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    18 days later · 18 days

  6. 2 September 2024Arbitration

    2 September 2024Arbitration

    Procedural Order No. 6

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal ordered the lifting of specified redactions concerning relevant entities, financial statements, press interest in Mr. Safra, and intermediary entities, while upholding other redactions.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    7 days later · 7 days

  7. 9 September 2024Arbitration

    9 September 2024Arbitration

    Procedural Order No. 7 - Decision on Bifurcation

    International Centre for Settlement of Investment Disputes

    Decision summary
    By majority, the Arbitral Tribunal decided not to bifurcate the proceeding and reserved its decision on costs arising from the bifurcation phase. The decision did not prejudge the substance of the jurisdictional objections.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    4 months and 4 days later · 126 days

  8. 13 January 2025Arbitration

    13 January 2025Arbitration

    Procedural Order No. 8

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal set requirements for documents claimed to be protected by legal privilege and directed the Parties to produce the ordered documents by 27 January 2025, subject to stated conditions.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    29 days later · 29 days

  9. 11 February 2025Arbitration

    11 February 2025Arbitration

    Procedural Order No. 9

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal permitted the United States to file a non-disputing Treaty Party submission, invited the Respondent to comment on its deadline and length, and rejected the United States' Request for Case Documents.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    1 month and 6 days later · 34 days

  10. 17 March 2025Arbitration

    17 March 2025Arbitration

    Procedural Order No. 10

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal ordered arrangements for production of Court File Documents, confirmation concerning the Court Transcript, production or removal of certain redactions, an indication concerning material for the United States, and consultation on redactions to the Memorial. It did not consider the deadline extension request at that time.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    2 days later · 2 days

  11. 19 March 2025Arbitration

    19 March 2025Arbitration

    Procedural Order No. 11

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal declined to grant the Deadline Extension Request at that time and left the nature of observations on the non-disputing Treaty Party submission for a later stage.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    4 months and 30 days later · 152 days

  12. 18 August 2025Arbitration

    18 August 2025Arbitration

    Procedural Order No. 12 - Date of the Hearing, Closing Statements and Post-Hearing Briefs

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided that the Hearing would take place from 20 to 23 October 2025, that no closing arguments would take place during the Hearing, and that the Parties would produce post-hearing briefs by 12 December 2025.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    24 days later · 24 days

  13. 11 September 2025Arbitration

    11 September 2025Arbitration

    Procedural Order No. 13 - Hearing Organisation

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the organisation, schedule, examination procedures, document bundles, transcripts, and other arrangements for the Hearing on the merits and jurisdictional objections.

    Supporting details

    6 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua
    Other

    27 days later · 27 days

  14. 8 October 2025Arbitration

    8 October 2025Arbitration

    Procedural Order No. 14 - Decision on Submission of Additional Documents

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal admitted the Parties' agreed documents into the case file, granted Argentina leave for documents while allowing the Claimant to submit responsive legal authorities subject to later formal inclusion, and allowed the use of Prof. Verstein's articles and Mr. Brodwin's documents during Hearing examinations under stated conditions.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

    1 month and 17 days later · 48 days

  15. 25 November 2025Arbitration

    25 November 2025Arbitration

    Procedural Order No. 15 - Procedural Post-Hearing Matters

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal recorded the agreed procedure for revised Hearing transcripts and directed the Parties to submit post-hearing briefs on jurisdictional objections simultaneously by 5 December 2025, subject to the page limit and procedural requirements.

    Supporting details

    5 participants
    BA Desarrollos LLC
    Argentine Republic
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Deva Villanua

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BA Desarrollos LLC v. Argentine Republic (ICSID Case No. ARB/23/32) · Matter