ICSID - International Centre for Settlement of Investment Disputes

07/14/2023 | Press release | Distributed by Public on 07/14/2023 16:44

Cavalum SGPS, S.A. v. Kingdom of Spain (ICSID Case No. ARB/15/34)

Cavalum SGPS, S.A. v. Kingdom of Spain (ICSID Case No. ARB/15/34)

  • Subject of Dispute:
    Renewable energy generation enterprise
  • Economic Sector:
    Electric Power & Other Energy
  • Instrument(s) Invoked: (i)
    ECT (Energy Charter Treaty)
  • Applicable Rules:
    ICSID Convention - Arbitration Rules

(a) Original Proceeding

  • Claimant(s)/Nationality(ies): (i)
    Cavalum SGPS, S.A. (Portuguese)
  • Respondent(s):
    Kingdom of Spain (Spanish)
  • Date Registered:
    August 4, 2015
  • Date of Constitution of Tribunal:
    January 22, 2016
  • Party Representatives

  • Claimant(s):
    King & Spalding, Houston, TX, U.S.A.
    King & Spalding, Paris, France
  • Respondent(s):
    Abogacía General del Estado, the Ministry of Justice of the Government of Spain
  • Language(s) of Proceeding:
    English,Spanish
  • Status of Proceeding:
    Concluded
  • Outcome of Proceeding:
    September 29, 2022 - The Tribunal renders its award.

(b) Supplementary Decision Proceeding

  • Applicant(s)/Requesting Party(ies): (i)
    Respondent(s)
  • Date Registered:
    November 14, 2022
  • Party Representatives

  • Claimant(s):
    King & Spalding, Houston, TX, U.S.A.
    King & Spalding, Paris, France
  • Respondent(s):
    Abogacía General del Estado, the Ministry of Justice of the Government of Spain
  • Status of Proceeding:
    Concluded
  • Outcome of Proceeding:
    March 8, 2023 -

    The Tribunal issues its decision on the Respondent's request for a supplementary decision.

(c) Annulment Proceeding

  • Applicant(s)/Requesting Party(ies): (i)
    Claimant(s)
  • Date Registered:
    July 14, 2023 (Claimant(s))
  • Party Representatives

  • Claimant(s):
    King & Spalding, Houston, TX, U.S.A.
    King & Spalding, Paris, France
  • Respondent(s):
    Abogacía General del Estado, the Ministry of Justice of the Government of Spain
  • Language(s) of Proceeding:
    English,Spanish
  • Status of Proceeding:
    Pending
  • Latest Development:
    July 14, 2023 - The Acting Secretary-General registers an application for annulment of the award filed by Cavalum SGPS, S.A.

(d) Second Annulment Proceeding

  • Applicant(s)/Requesting Party(ies): (i)
    Respondent(s)
  • Date Registered:
    July 14, 2023 (Respondent(s))
  • Party Representatives

  • Claimant(s):
    King & Spalding, Houston, TX, U.S.A.
    King & Spalding, Paris, France
  • Respondent(s):
    Abogacía General del Estado, the Ministry of Justice of the Government of Spain
  • Language(s) of Proceeding:
    English,Spanish
  • Status of Proceeding:
    Pending
  • Latest Development:
    July 14, 2023 - The Acting Secretary-General registers an application for annulment of the award filed by the Kingdom of Spain and notifies the parties of the provisional stay of enforcement of the award.

(a) Supplementary Decision Proceeding

Published Decisions

Decision on the Kingdom of Spain's Request for Reconsideration(English;)

Procedural Order No. 6: Second Decision on Reconsideration (English;)

(a) Original Proceeding

Date Development
August 4, 2015 The Secretary-General registers a request for the institution of arbitration proceedings.
October 28, 2015 Following appointment by the Claimant, David Haigh (Canadian) accepts his appointment as arbitrator.
November 14, 2015 Following appointment by the Respondent, Daniel Bethlehem (British) accepts his appointment as arbitrator.
January 22, 2016

Following appointment by the parties, Lawrence Collins (British) accepts his appointment as presiding arbitrator.

March 18, 2016 The Tribunal holds a first session by telephone conference.
April 18, 2016 A non-disputing party files an application pursuant to ICSID Arbitration Rule 37(2).
May 5, 2016 The Tribunal issues Procedural Order No. 1 concerning procedural matters.
May 6, 2016 Each party files observations on the non-disputing party's application.
May 20, 2016 The Tribunal issues Procedural Order No. 2 on the non-disputing party's application to file a written submission pursuant to ICSID Arbitration Rule 37(2).
July 25, 2016 The Claimant files a memorial on the merits.
October 28, 2016 The Respondent files a counter-memorial on the merits and a memorial on jurisdiction.
November 25, 2016 Each party files a request for the Tribunal to decide on production of documents.
January 13, 2017 The Tribunal rules on the parties' document production requests.
January 17, 2017 A non-disputing party files an application pursuant to ICSID Arbitration Rule 37(2).
January 30, 2017 The Claimant files observations on the non-disputing party's application.
January 31, 2017 The Respondent files observations on the non-disputing party's application.
February 21, 2017 The Tribunal issues Procedural Order No. 3 concerning the non-disputing party's application.
March 28, 2017 The Claimant files a reply memorial on the merits and a counter-memorial on jurisdiction.
April 28, 2017 The non-disputing party files a written submission pursuant to ICSID Arbitration Rule 37(2).
June 2, 2017 The Respondent files a rejoinder on the merits and a reply on jurisdiction.
July 7, 2017 The Claimant files a rejoinder on jurisdiction and its observations on the non-disputing party's written submission.
February 1, 2018

The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.

February 2, 2018

The Tribunal issues Procedural Order No. 4 concerning the organization of the hearing.

March 12, 2018 - March 16, 2018

The Tribunal holds a hearing on jurisdiction and the merits in London.

May 16, 2018

The non-disputing party files a communication regarding its written submission of April 28, 2017.

May 28, 2018

Each Party files observations on the non-disputing party's communication of May 16, 2018.

June 12, 2018

The Tribunal issues a decision concerning the non-disputing party's communication of May 16, 2018.

June 22, 2018

The non-disputing party files a written submission updating its written submission of April 28, 2017.

June 28, 2018

The Tribunal holds a videoconference in continuation of the hearing.

September 18, 2018

Each party files a post-hearing brief.

January 25, 2019

The Respondent files a request for the Tribunal to decide on the admissibility of a new document.

February 4, 2019

The Claimant files observations on the Respondent's request for the Tribunal to decide on the admissibility of a new document.

February 4, 2019

The Claimant files observations on the Respondent's request of January 25, 2019, and files a request for the Tribunal to decide on the admissibility of a new document.

February 12, 2019

The Tribunal decides on the Respondent's request of January 28 and on the Claimant's request of February 4, 2019.

December 4, 2019

The Respondent files a request for the Tribunal to decide on the admissibility of new documents.

December 10, 2019

The Claimant files observations on the Respondent's request of December 4, 2019, and files a request for the Tribunal to decide on the admissibility of new documents.

January 10, 2020

The Respondent files observations on the Claimant's request of December 10, 2019.

January 22, 2020

The Tribunal decides on the Respondent's request of December 4 and on the Claimant's request of December 10, 2019 .

August 31, 2020

The Tribunal issues a decision on jurisdiction, liability and directions on quantum; attached to the decision is a dissenting opinion by arbitrator David Haigh.

January 18, 2021

The Tribunal issues Procedural Order No. 5 concerning procedural matters.

January 20, 2021

The Respondent files a request for reconsideration of the Tribunal's Procedural Order No. 5 dated January 18, 2021.

January 29, 2021

The Claimant files observations on the Respondent's request of January 20, 2021.

February 12, 2021

The Claimant files a witness statement on quantum.

February 26, 2021

The Respondent files a witness statement on quantum in response to the Claimant's filing of February 12, 2021.

April 9, 2021

The Claimant files a reply witness statement on quantum.

April 22, 2021

The Respondent files a rebuttal witness statement on quantum.

April 29, 2021

The parties file a Joint Memorandum and Joint Model prepared by both parties' experts on quantum.

April 29, 2021

The Respondent files an Addendum to the Joint Memorandum prepared by both parties' experts on quantum.

October 4, 2021

The Respondent files a request for reconsideration of the Tribunal's decision of August 31, 2020.

October 27, 2021

The Claimant files observations on the Respondent's request of October 4, 2021.

January 10, 2022

The Tribunal issues a decision concerning the Respondent's request for reconsideration of the Tribunal's decision of August 31, 2020.

April 4, 2022

The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

May 13, 2022

Each party files a statement of costs.

June 24, 2022

The Respondent files a request for reconsideration of the Tribunal's decisions of August 31, 2020 and January 10, 2022.

June 28, 2022

The Respondent files a request to reopen the proceeding pursuant to ICSID Arbitration Rule 38(2); for the Tribunal to decide on the admissibility of new evidence; and for the reconsideration of the Tribunal's decisions of August 31, 2020 and January 10, 2022.

July 8, 2022

The Claimant files observations on the Respondent's request of 28 June 2022.

July 14, 2022

The Tribunal extends the period to draw up and sign the award by 60 days in accordance with ICSID Arbitration Rule 46.

September 7, 2022

The Tribunal issues a decision concerning the Respondent's request of June 28, 2022 to reopen the proceeding pursuant to ICSID Arbitration Rule 38(2); for the Tribunal to decide on the admissibility of new evidence; and for the reconsideration of the Tribunal's decisions of August 31, 2020 and January 10, 2022.

September 15, 2022

The Claimant files an updated statement of costs.

September 29, 2022

The Tribunal renders its award.

(b) Supplementary Decision Proceeding

Date Development
November 14, 2022

The Acting Secretary-General registers a request for supplementary decision on the award filed by the Kingdom of Spain.

November 28, 2022

The Claimant files observations on the Respondent's request for supplementary decision.

December 7, 2022

The Respondent files a response on the Claimant's observations of November 28, 2022.

December 16, 2022

The Claimant files a response on the Respondent's observations of December 7, 2022.

February 7, 2023

Each party files a submission on costs.

March 8, 2023

The Tribunal issues its decision on the Respondent's request for a supplementary decision.

(c) Annulment Proceeding

Date Development
July 14, 2023

The Acting Secretary-General registers an application for annulment of the award filed by Cavalum SGPS, S.A.

(d) Second Annulment Proceeding

Date Development
July 14, 2023

The Acting Secretary-General registers an application for annulment of the award filed by the Kingdom of Spain and notifies the parties of the provisional stay of enforcement of the award.