ICSID - International Centre for Settlement of Investment Disputes
ICSID - International Centre for Settlement of Investment Disputes
06/26/2024 | Press release | Distributed by Public on 06/27/2024 07:25
LSG Building Solutions GmbH and others v. Romania (ICSID Case No. ARB/18/19)
LSG Building Solutions GmbH and others v. Romania (ICSID Case No. ARB/18/19)
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)ECT (Energy Charter Treaty)
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Applicable Rules:ICSID Convention - Arbitration Rules
(a) Original Proceeding
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Claimant(s)/Nationality(ies): (i)Core Value Capital GmbH (Austrian), SC LJG Green Source Energy Beta SRL (Romanian), Pressburg UK GmbH (German), Giust Ltd (Cypriot), Solluce Romania 1 B.V. (Dutch), Green Source Consulting GmbH (Austrian), Risen Energy Solar Project GmbH (German), LSG Building Solutions GmbH (Austrian), Core Value Investments GmbH & Co KG Gamma (Austrian), Anina Pro Invest Ltd (Cypriot)
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Respondent(s):Romania (Romanian)
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Date Registered:June 12, 2018
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Date of Constitution of Tribunal:January 24, 2019
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Composition of Tribunal
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President:Juan FERNÁNDEZ-ARMESTO (Spanish) - Appointed by Co-Arbitrators
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Arbitrators:O. Thomas JOHNSON (U.S.) - Appointed by the Claimant(s)
Pierre-Marie DUPUY (French) - Appointed by the Respondent(s)
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Party Representatives
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Claimant(s):King & Spalding, New York, NY, Houston, TX, U.S.A and Paris, France
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Respondent(s):Minister of Public Finance of Romania, Ministry of Public Finance, Bucharest, Romania
Curtis, Mallet-Prevost, Colt & Mosle, Paris, France and London, U.K.
Maravela & Asocia¿ii, Bucharest, Romania -
Language(s) of Proceeding:English
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Status of Proceeding:Concluded
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Outcome of Proceeding:February 20, 2024 -
The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator O. Thomas Johnson.
(b) Annulment Proceeding
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Applicant(s)/Requesting Party(ies): (i)Respondent(s)
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Date Registered:June 26, 2024
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Party Representatives
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Claimant(s):King & Spalding LLP, Washington, D.C., Houston, TX, U.S.A. and Paris, France
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Respondent(s):Curtis Mallet-Prevost, Colt & Mosle LLP, Paris, France
MPR Partners, Bucharest, Romania -
Status of Proceeding:Pending
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Latest Development:June 26, 2024 - The Secretary-General registers an application for annulment of the award filed by Romania and notifies the parties of the provisional stay of enforcement of the award.
No References Available.
(a) Original Proceeding
| Date | Development |
| June 12, 2018 |
The Secretary-General registers a request for the institution of arbitration proceedings. |
| September 17, 2018 |
Following appointment by the Claimants, O. Thomas Johnson, Jr. (U.S.) accepts his appointment as arbitrator. |
| October 4, 2018 |
Following appointment by the Respondent, Pierre-Marie Dupuy (French) accepts his appointment as arbitrator. |
| January 24, 2019 |
Following appointment by his co-arbitrators, Juan Fernández-Armesto (Spanish) accepts his appointment as presiding arbitrator. |
| January 24, 2019 |
The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Juan Fernández-Armesto (Spanish), President, appointed by his co-arbitrators; O. Thomas Johnson, Jr. (U.S.), appointed by the Claimants; and Pierre-Marie Dupuy (French), appointed by the Respondent. |
| February 5, 2019 |
A non-disputing party files an application to file a written submission pursuant to ICSID Arbitration Rule 37(2). |
| March 18, 2019 |
The Tribunal holds a first session by telephone conference. |
| March 28, 2019 |
The Tribunal issues Procedural Order No. 1 concerning procedural matters. |
| April 19, 2019 |
Each party files observations on the non-disputing party's application. |
| May 13, 2019 |
The Tribunal issues Procedural Order No. 2 concerning the non-disputing party's application to file a written submission pursuant to ICSID Arbitration Rule 37(2). |
| May 13, 2019 |
The Tribunal issues a decision on the non-disputing party's application to file a written submission pursuant to ICSID Arbitration Rule 37(2). |
| July 25, 2019 |
The Claimants file a memorial on the merits. |
| August 14, 2019 |
The Respondent files a request to address the objections to jurisdiction as a preliminary question. |
| September 11, 2019 |
The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question. |
| October 9, 2019 |
The Tribunal issues Procedural Order No. 3 concerning the Respondent's request to address the objections to jurisdiction as a preliminary question. |
| January 24, 2020 |
The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2). |
| February 22, 2020 |
The Respondent files a counter-memorial on the merits and a memorial on jurisdiction. |
| April 21, 2020 |
The Tribunal issues a decision on production of documents. |
| April 21, 2020 |
The Tribunal issues Procedural Order No. 4 concerning production of documents. |
| July 3, 2020 |
The Claimants file a reply on the merits and a counter-memorial on jurisdiction. |
| October 30, 2020 |
The Respondent files a rejoinder on the merits and a reply on jurisdiction. |
| December 21, 2020 |
The Claimants file a rejoinder on jurisdiction. |
| January 25, 2021 |
The Tribunal holds a pre-hearing organizational meeting with the parties by video conference. |
| January 27, 2021 |
The Tribunal issues Procedural Order No. 5 concerning organization of the hearing. |
| February 15, 2021 - February 23, 2021 |
The Tribunals holds a hearing on jurisdiction and the merits by video conference. |
| March 2, 2021 |
The Tribunal issues Procedural Order No. 6 concerning procedural matters. |
| May 31, 2021 |
Each party files a post-hearing brief. |
| June 30, 2021 |
Each party files a statement of costs. |
| July 11, 2022 |
The Tribunal issues a decision on jurisdiction, liability and principles of reparation; attached to the decision is a dissenting opinion by arbitrator O. Thomas Johnson. |
| February 20, 2024 |
The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator O. Thomas Johnson. |
(b) Annulment Proceeding
| Date | Development |
| June 26, 2024 |
The Secretary-General registers an application for annulment of the award filed by Romania and notifies the parties of the provisional stay of enforcement of the award. |