Arbitral Digest

Matter

Odyssey Marine Exploration, Inc. v. United Mexican States (ICSID Case No. UNCT/20/1)

Case no.
UNCT/20/1
Seat
Canada
Applicable rules
1976 UNCITRAL Arbitration Rules
  1. 23 April 2020Canada

    23 April 2020Canada

    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 rules, tribunal constitution, place of arbitration, representation, evidence, hearings, confidentiality, and timetable.

    Supporting details

    International Centre for Settlement of Investment Disputes

    7 months later · 214 days

  2. 23 November 2020Canada

    23 November 2020Canada

    Procedural Order No. 2 on Confidentiality

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal issued a confidentiality order governing confidential information and its disclosure, use, designation, and redaction in the arbitration.

    Supporting details

    International Centre for Settlement of Investment Disputes

    5 months later · 151 days

  3. 23 April 2021Canada

    23 April 2021Canada

    Procedural Order No. 3 on Production of Documents

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal decided the parties' outstanding requests for production of documents, granting or denying requests subject to the rulings and qualifications set out in the order.

    Supporting details

    International Centre for Settlement of Investment Disputes

    4 months and 7 days later · 129 days

  4. 30 August 2021Canada

    30 August 2021Canada

    Procedural Order No. 5: Confidentiality Order and Undertaking

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal ordered confidentiality protections and restricted access for specified documents, including labeling, a data room, authorized access, and limits on disclosure and use.

    Supporting details

    International Centre for Settlement of Investment Disputes

    3 months and 20 days later · 112 days

  5. 20 December 2021Canada

    20 December 2021Canada

    Procedural Order No. 6: Decision on the Application for Leave to File a Non-Disputing Party Submission (Amicus Curiae)

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal, by majority, denied the applications of the Center for International Environmental Law and Sociedad Cooperativa de Produccion Pesquera Puerto Chale S.C.L. for leave to file a non-disputing party submission. There was no order on costs.

    Supporting details

    2 participants
    Center for International Environmental Law
    Sociedad Cooperativa de Produccion Pesquera Puerto Chale S.C.L.
    International Centre for Settlement of Investment Disputes
  6. 20 December 2021Canada

    20 December 2021Canada

    Procedural Order No. 7 on the Organization of the Hearing

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal organized the virtual hearing, including the order of proceedings, time allocation, witness and expert examination, recordings, interpretation, and post-hearing submissions, and ordered simultaneous post-hearing submissions.

    Supporting details

    International Centre for Settlement of Investment Disputes

    25 days later · 25 days

  7. 14 January 2022Canada

    14 January 2022Canada

    Procedural Order No. 8: The Tribunal's Decision on the Claimant's Request to Exclude the Expert Report Submitted by Taut Solutions Ltd

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rejected the application to exclude the Taut Report and granted the Claimant the opportunities specified in the order to address observations on that report.

    Supporting details

    1 participant
    International Centre for Settlement of Investment Disputes
    Other

    2 years, 8 months and 3 days later · 977 days

  8. 17 September 2024Canada

    17 September 2024Canada

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that the Respondent breached NAFTA Article 1105(1), ordered the Respondent to pay Exploraciones Oceanicas, S. de R.L. de C.V. US$37.1 million plus interest from 12 October 2018 at the one-year Mexico Treasury bond rate compounded annually, made the amounts net of applicable Mexican taxes, ordered the Respondent to pay all arbitration costs, directed each party to bear its own fees and expenses, and denied all other compensation claims.

    Supporting details

    41 participants
    Odyssey Marine Exploration, Inc.
    Representative
    Rachel Thorn (For: Odyssey Marine Exploration, Inc.)
    Representative
    Philip Bowman (For: Odyssey Marine Exploration, Inc.)
    Representative
    Jorge Sarmiento (For: Odyssey Marine Exploration, Inc.)
    Representative
    James Maton (For: Odyssey Marine Exploration, Inc.)
    Representative
    Juan Nascimbene (For: Odyssey Marine Exploration, Inc.)
    Representative
    Henry G. Burnett (For: Odyssey Marine Exploration, Inc.)
    Representative
    Jessica Beess und Chrostin (For: Odyssey Marine Exploration, Inc.)
    Representative
    Cedric Soule (For: Odyssey Marine Exploration, Inc.)
    Representative
    Marcio Vasconcellos (For: Odyssey Marine Exploration, Inc.)
    Representative
    Viren Mascarenhas (For: Odyssey Marine Exploration, Inc.)
    Representative
    Enrique Molina (For: Odyssey Marine Exploration, Inc.)
    Exploraciones Oceanicas, S. de R.L. de C.V.
    United Mexican States
    Representative
    Fernando Rodriguez Cortina (For: United Mexican States)
    Representative
    Arturo Oropeza (For: United Mexican States)
    Representative
    Craig S. Miles (For: United Mexican States)
    Representative
    Kevin Mohr (For: United Mexican States)
    Representative
    Greg Tereposky (For: United Mexican States)
    Representative
    Alejandro Barragan (For: United Mexican States)
    Representative
    Ximena Iturriaga (For: United Mexican States)
    Representative
    Stephan E. Becker (For: United Mexican States)
    Representative
    Gary J. Shaw (For: United Mexican States)
    Representative
    Alan Bonfiglio Rios (For: United Mexican States)
    Representative
    Rafael Rodriguez Maldonado (For: United Mexican States)
    Representative
    Rafael Alejandro Augusto Arteaga Farfan (For: United Mexican States)
    Representative
    Laura Mejia Hernandez (For: United Mexican States)
    Representative
    Oscar Manuel Rosado Pulido (For: United Mexican States)
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Philippe Sands
    Tribunal secretary
    Anna Toubiana
    Other
    Expert
    CRU
    Expert
    Deltares

    2 months and 29 days later · 90 days

  9. 16 December 2024Canada

    16 December 2024Canada

    Decision on Respondent's Request for Interpretation of the Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal granted the Respondent's request for interpretation and clarified that the interest rate specified at paragraph 802 of the Award means the one-year dollar-denominated Mexico Treasury bond rate. It denied the request for rectification and ordered each party to bear its own fees and expenses related to the request and half of the arbitration costs associated with it.

    Supporting details

    6 participants
    Odyssey Marine Exploration, Inc.
    United Mexican States
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Philippe Sands
    Tribunal secretary
    Anna Toubiana

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Odyssey Marine Exploration, Inc. v. United Mexican States (ICSID Case No. UNCT/20/1) · Matter