Summary

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Case Report (free download)

Case Report by Artemis Malliaropoulou, Editor: Ignacio Torterola

Summary

An ad hoc ICSID annulment Committee ruled on the application made by the Gambrinus, Corp. ("the Applicant") seeking the annulment of the Award of damages made in the arbitral proceedings between Gambrinus, Corp. and the Bolivarian Republic of Venezuela ("the Respondent") dated 15 June 2015. The Applicant raised three broad grievances against the aforementioned Award, invoking grounds under Art 52(1) (b), (d) and (e) of the ICSID Convention. The Committee rejected the application for annulment in its entirety.

Main issues

Annulment; Manifest excess of powers; Failure to state reasons; Serious departure from a fundamental rule of procedure; procedural equality; right to be heard; burden of proof.

Gambrinus, Corp. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/31) - Decision on Annulment of the Award - 3 October 2017

Case report provided by International Arbitration Case Law (IACL)

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