Summary

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Case Report (free download)

Case Report by Estuardo Javier Marchena Molina, Editor Ignacio Torterola

Summary

Silverton Finance Service Inc. made a claim under the Dominican Republic - Panama BIT and the UNCITRAL Rules against the Dominican Republic, and proposed the language of the arbitration to be in Spanish. Subsequently, it decided to withdraw its claim, arguing that the decision of the Tribunal that the arbitration should be conducted both in English and Spanish made the process too expensive for itself. In its Award rendered on 15 March 2017, the Tribunal decided to dismiss all of the Claimant's claims with prejudice, and ordered the Claimant to pay the costs of arbitration as well as Respondent's expenses.

Main issues

Withdrawal with Prejudice - Costs; Articles 40 and 42 UNCITRAL Rules

Silverton Finance Service Inc. v. República Dominicana, UNCITRAL - Final Award - 15 March 2017

Case report provided by International Arbitration Case Law (IACL)

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