Arbitral Digest

Matter

Alex Genin and others v. Republic of Estonia (ICSID Case No. ARB/99/2)

Case no.
ARB/99/2
  1. 25 June 2001Arbitration

    25 June 2001Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal dismissed the Respondent's objections to jurisdiction, found that the Republic of Estonia had not violated the applicable bilateral investment treaty or Estonian law in relation to the Koidu branch or the revocation of Estonian Innovation Bank's licence, dismissed the Claimants' claims, rejected the Respondent's counterclaim, ordered each party to bear its own expenses, and allocated the arbitration costs equally.

    Supporting details

    8 authorities · 25 participants
    Alex Genin
    Eastern Credit Limited, Inc.
    A.S. Baltoil
    Republic of Estonia
    Representative
    Kurt Arbuckle (For: Republic of Estonia)
    Representative
    Martin D. Beirne (For: Republic of Estonia)
    Representative
    Michael J. Stanley (For: Republic of Estonia)
    Representative
    Christopher Bell (For: Republic of Estonia)
    Representative
    Allen B. Green (For: Republic of Estonia)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    L. Yves Fortier
    Arbitrator
    Meir Heth
    Tribunal secretary
    Alejandro A. Escobar
    Other
    Witness
    Eve Sirts
    Witness
    Janus Mody
    Witness
    Aare Tark

    Authorities cited

    8
    • Estonian Bank of Estonia Act (Law of the Central Bank of the Republic of Estonia, 18 May 1993, as amended 5 April 1994)
      statute
    • Estonian Credit Institutions Act (Law on Credit Institutions, 15 December 1994)
      statute
    • American Manufacturing and Trading, Inc. v. Zaire (ICSID Case No. ARB/93/1, Award of 21 February 1997)
      case-law
    • Amco Asia Corporation v. Indonesia (ICSID Case No. ARB/81/8, Final Award of 5 June 1990)
      case-law
    • Elettronica Sicula S.p.A. (ELSI) Case (United States v. Italy) (International Court of Justice Reports (1989), pages 15 and 73-77)
      case-law
    • Dolzer and Stevens, Bilateral Investment Treaties (Bilateral Investment Treaties, 1995)
      academic
    • Ian Brownlie, Principles of Public International Law (Principles of Public International Law, 5th edition)
      academic
    • Oppenheim's International Law, Volume 1, 9th edition
      academic

    9 months and 10 days later · 283 days

  2. 4 April 2002Arbitration

    4 April 2002Arbitration

    Decision on Claimants' Request for Supplementary Decisions and Rectification

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal denied the Claimants' Request for Supplementary Decisions and Rectification and ordered the Claimants to reimburse the Respondent US$41,254.58 within 15 days of dispatch of the Decision for the Respondent's expenses and the fees and expenses of the Tribunal members associated with the Request.

    Supporting details

    13 participants
    Alex Genin
    Eastern Credit Limited, Inc.
    A.S. Baltoil
    Republic of Estonia
    Representative
    Kurt Arbuckle (For: Republic of Estonia)
    Representative
    Martin D. Beirne (For: Republic of Estonia)
    Representative
    Michael J. Stanley (For: Republic of Estonia)
    Representative
    Christopher Bell (For: Republic of Estonia)
    Representative
    Allen B. Green (For: Republic of Estonia)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    L. Yves Fortier
    Arbitrator
    Meir Heth
    Tribunal secretary
    Alejandro A. Escobar

Matter record

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Alex Genin and others v. Republic of Estonia (ICSID Case No. ARB/99/2) · Matter