ICSID - International Centre for Settlement of Investment Disputes

10/22/2024 | Press release | Archived content

Counter-Memorial on Jurisdiction

Cyrus Capital Partners, L.P. and Contrarian Capital Management, LLC v. United Mexican States (ICSID Case No. ARB/23/33)

  • Subject of Dispute:
    Debt Instruments/Banking and financial services
  • Economic Sector:
    Other Industry
  • Instrument(s) Invoked: (i)
    NAFTA (North American Free Trade Agreement), USMCA (United States-Mexico-Canada Agreement)
  • Applicable Rules:
    ICSID Convention - Arbitration Rules

(a) Original Proceeding

  • Claimant(s)/Nationality(ies): (i)
    Cyrus Capital Partners, L.P. (U.S.), Contrarian Capital Management, LLC (U.S.)
  • Respondent(s):
    United Mexican States (Mexican)
  • Date Registered:
    August 11, 2023
  • Date of Constitution of Tribunal:
    February 6, 2024

  • Composition of Tribunal

  • President:
    Lawrence COLLINS (British) - Appointed by the Parties
  • Arbitrators:
    David J. A. CAIRNS (British, New Zealand) - Appointed by the Claimant(s)
    Zachary DOUGLAS (Australian, Swiss) - Appointed by the Respondent(s)

  • Party Representatives

  • Claimant(s):
    Akin Gump Strauss Hauer & Feld, Washington D.C., U.S.A.
  • Respondent(s):
    Dirección General de Consultoría Jurídica de Comercio Internacional, Secretaría de Economía, Mexico City, Mexico
    Tereposky & DeRose, Ottawa, Canada
    Pillsbury Winthrop Shaw Pittman, Washington, D.C., U.S.A.
  • Language(s) of Proceeding:
    English,Spanish
  • Status of Proceeding:
    Pending
  • Latest Development:
    August 29, 2024 - The Claimants file a counter-memorial on jurisdiction.

(a) Original Proceeding

Published Decisions

Request for Arbitration

Procedural Order No. 1

Procedural Order No. 2

Memorial on Jurisdiction

Counter-Memorial on Jurisdiction

Available on the ICSID Website

Request for Arbitration (June 30, 2023)English (Original)

Procedural Order No. 1 (April 3, 2024)English (Original); Spanish (Original)

Procedural Order No. 2 (April 3, 2024)English (Original); Spanish (Original)

Memorial on Jurisdiction (June 4, 2024)Spanish (Original)

Counter-Memorial on Jurisdiction (August 29, 2024)English (Original); Spanish (Original)

(a) Original Proceeding

Date Development
August 11, 2023

The Secretary-General registers a request for the institution of arbitration proceedings.

October 5, 2023

Following appointment by the Respondent, Zachary Douglas (Australian/Swiss) accepts his appointment as arbitrator.

October 14, 2023

Following appointment by the Claimants, David J. A. Cairns (British/New Zealand) accepts his appointment as arbitrator.

February 5, 2024

Following appointment by agreement of the parties, LawrenceCollins (British) accepts his appointment as presiding arbitrator.

February 6, 2024

The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: LawrenceCollins (British), President, appointed by agreement of the parties; David J.A. Cairns (British/New Zealand), appointed by the Claimants; and Zachary Douglas (Australian/Swiss), appointed by the Respondent.

March 21, 2024

The Tribunal holds a first session by video conference.

April 3, 2024

The Tribunal issues Procedural Order No. 1 concerning procedural matters.

April 3, 2024

The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.

June 4, 2024

The Respondent files a memorial on jurisdiction.

August 20, 2024

The Tribunal issues Procedural Order No. 3 concerning the procedural calendar.

August 29, 2024

The Claimants file a counter-memorial on jurisdiction.