ICSID - International Centre for Settlement of Investment Disputes
ICSID - International Centre for Settlement of Investment Disputes
11/12/2024 | Press release | Archived content
Decision on Rectification
Campos de Pesé, S.A. v. Republic of Panama (ICSID Case No. ARB/20/19)
Proceeding
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Subject of Dispute:Renewable energy generation enterprise
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Economic Sector:Electric Power & Other Energy
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Instrument(s) Invoked: (i)BIT Panama - Italy 2009
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Applicable Rules:ICSID Convention - Arbitration Rules
(a) Original Proceeding
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Claimant(s)/Nationality(ies): (i)Campos de Pesé, S.A. (Panamanian)
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Respondent(s):Republic of Panama (Panamanian)
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Date Registered:June 15, 2020
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Date of Constitution of Tribunal:October 16, 2020
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Composition of Tribunal
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President:Eduardo ZULETA (Colombian) - Appointed by Co-Arbitrators
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Arbitrators:Horacio A. GRIGERA NAÓN (Argentine) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)
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Party Representatives
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Claimant(s):Hughes Hubbard & Reed, Miami, Fl, U.S.A. and Washington, D.C., U.S.A.
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Respondent(s):Ministry of Economy and Finances, Panama, Republic of Panama
Greenberg Traurig, Washington, D.C., U.S.A. -
Language(s) of Proceeding:English
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Status of Proceeding:Concluded
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Outcome of Proceeding:March 1, 2024 - The Tribunal renders its award.
(b) Rectification Proceeding
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Applicant(s)/Requesting Party(ies): (i)Claimant(s)
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Date Registered:April 16, 2024
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Party Representatives
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Claimant(s):Hughes Hubbard & Reed, Miami, Fl, U.S.A. and Washington, D.C., U.S.A.
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Respondent(s):Ministry of Economy and Finances, Panama, Republic of Panama
Greenberg Traurig, Washington, D.C., U.S.A. -
Status of Proceeding:Concluded
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Outcome of Proceeding:September 12, 2024 - The Tribunal issues a decision on the rectification of the Award.
(a) Original Proceeding
Published Decisions
Hearing on Jurisdiction - Hearing Day 1 - Video 1 (June 20, 2023)
Hearing on Jurisdiction - Hearing Day 1 - Video 2 (June 20, 2023)
Hearing on Jurisdiction - Hearing Day 2 - Video 1 (June 21, 2023)
Hearing on Jurisdiction - Hearing Day 2 - Video 2 (June 21, 2023)
Award of Tribunal
Decision on Rectification
Available on the ICSID Website
Award of Tribunal (March 1, 2024) English (Original)
Decision on Rectification (September 12, 2024) English (Original)
(a) Original Proceeding
| Date | Development | |
| June 15, 2020 |
The Secretary-General registers a request for the institution of arbitration proceedings. |
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| September 26, 2020 |
Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator. |
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| September 27, 2020 |
Following appointment by the Claimant, Horacio Grigera Naón (Argentine) accepts his appointment as arbitrator. |
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| October 14, 2020 |
Following appointment by his co-arbitrators, Eduardo Zuleta (Colombian) accepts his appointment as presiding arbitrator. |
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| October 16, 2020 |
The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Eduardo Zuleta (Colombian), President, appointed by his co-arbitrators; Horacio Grigera Naón (Argentine), appointed by the Claimant; and Brigitte Stern (French), appointed by the Respondent. |
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| December 15, 2020 |
The Tribunal holds a first session by video conference. |
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| December 16, 2020 |
The Tribunal issues Procedural Order No. 1 concerning procedural matters. |
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| May 5, 2021 |
The Claimant files a memorial on the merits. |
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| June 14, 2021 |
The Respondent files a request to address the objections to jurisdiction as a preliminary question. |
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| July 23, 2021 |
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| August 26, 2021 |
The Tribunal issues Procedural Order No. 2 concerning the Respondent's request to address the objections to jurisdiction as a preliminary question. |
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| November 24, 2021 |
The Respondent files a memorial on jurisdiction. |
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| February 22, 2022 |
The Claimant files a counter-memorial on jurisdiction. |
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| April 12, 2022 |
The Tribunal issues Procedural Order No. 3 concerning production of documents. |
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| January 27, 2023 |
The Respondent files a reply on jurisdiction. |
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| April 28, 2023 |
The Claimant files a rejoinder on jurisdiction. |
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| May 26, 2023 |
The President holds a pre-hearing organizational meeting with the parties by video conference. |
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| June 18, 2023 |
The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing. |
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| June 20, 2023 - June 21, 2023 |
The Tribunal holds a hearing on jurisdiction in Washington, D.C. |
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| June 27, 2023 |
The Tribunal issues Procedural Order No. 5 concerning the Exclusion of Witness Statements. |
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| September 8, 2023 |
Each party files a submission on costs. |
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| November 27, 2023 |
The Tribunal issues Procedural Order No. 6 concerning confidentiality. |
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| March 1, 2024 |
The Tribunal renders its award. |
(b) Rectification Proceeding
| Date | Development |
| April 16, 2024 |
The Secretary-General registers a request for rectification of the award filed by Campos de Pesé S.A. |
| May 10, 2024 |
The Republic of Panama files observations on Campos de Pesé S.A.'s request for rectification. |
| July 1, 2024 |
The Tribunal issues Procedural Order No. 7 concerning procedural matters. |
| September 12, 2024 |
The Tribunal issues a decision on the rectification of the Award. |