Arbitral Digest

Matter

Klesch Group Holdings Limited, Klesch Refining Denmark A/S and Kalundborg Refinery A/S v. Kingdom of Denmark (ICSID Case No. ARB/23/48)

Case no.
ARB/23/48
Applicable rules
ICSID Arbitration Rules in force as of July 1, 2022
  1. 14 June 2024Arbitration

    14 June 2024Arbitration

    Procedural Order No. 1

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal established the arbitration’s applicable procedural rules, timetable, document-production process, hearing arrangements, and other procedural directions. It confirmed that the Denmark arbitration is separate from the coordinated EU and Germany arbitrations and that separate awards would be rendered.

    Supporting details

    2 authorities · 8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    Authorities cited

    2
    • ICSID Convention
      treaty
    • 2020 IBA Rules on the Taking of Evidence in International Arbitration
      evidentiary rules
  2. 14 June 2024Arbitration

    14 June 2024Arbitration

    Procedural Order No. 2 on Transparency and Confidentiality

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal adopted the transparency and confidentiality regime governing the proceeding, including publication and disclosure rules for awards, orders, decisions, submissions, supporting documents, and confidential information.

    Supporting details

    1 authority · 8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    Authorities cited

    1
    • ICSID Convention
      treaty

    7 months and 30 days later · 244 days

  3. 13 February 2025Arbitration

    13 February 2025Arbitration

    Procedural Order No. 3 on the Organization of the Hearing on Bifurcation

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal set the organization, format, venue, order of proceeding, schedule, time allocation, documents, recording, confidentiality, and other arrangements for the joint hearing on bifurcation in the three separately administered arbitrations.

    Supporting details

    8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    1 month and 26 days later · 54 days

  4. 8 April 2025Arbitration

    8 April 2025Arbitration

    Decision on Respondents’ Request for Bifurcation

    International Centre for Settlement of Investment Disputes

    Decision summary
    By majority, the Tribunal dismissed the Respondents’ Request for Bifurcation, directed the Parties to follow Scenario 2 of Annex B to Procedural Order No. 1 in each of the three arbitrations, and reserved the costs of the application for determination at a later stage. The decision was without prejudice to a future ruling on whether the Claimants’ claims fall within the Tribunal’s jurisdiction.

    Supporting details

    3 authorities · 8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    Authorities cited

    3
    • Regulation (EU) 2022/1854 of 6 October 2022
      regulation
    • Danish Act No. 502 of 16 May 2023
      statute
    • German Annual Tax Act 2022
      statute

    8 months and 2 days later · 246 days

  5. 10 December 2025Arbitration

    10 December 2025Arbitration

    Procedural Order No. 4 on Document Production

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the document-production requests in the Stern Schedules, clarified that those decisions did not determine the merits or burdens of proof, directed production of ordered documents by 7 January 2026, and reserved the costs of the document-production phase.

    Supporting details

    1 authority · 8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    Authorities cited

    1
    • 2020 IBA Rules on the Taking of Evidence in International Arbitration
      evidentiary rules

    8 days later · 8 days

  6. 18 December 2025Arbitration

    18 December 2025Arbitration

    Procedural Order No. 5 on CAN Europe’s Application to File a Written Submission as Non-Disputing Party

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal dismissed CAN Europe’s application to file a written submission as a non-disputing party and ordered CAN Europe and each Party to bear their own costs.

    Supporting details

    1 authority · 8 participants
    Klesch Group Holdings Limited
    Klesch Refining Denmark A/S
    Kalundborg Refinery A/S
    Kingdom of Denmark
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Cavinder Bull
    Tribunal secretary
    Aurélia Antonietti

    Authorities cited

    1
    • Regulation (EU) 2022/1854 of 6 October 2022
      regulation

Matter record

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Klesch Group Holdings Limited, Klesch Refining Denmark A/S and Kalundborg Refinery A/S v. Kingdom of Denmark (ICSID Case No. ARB/23/48) · Matter