Summary

Reproduced from www.worldbank.org/icsid with permission of ICSID.

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II. SETTLEMENT OF THE DISPUTE

11. On 25 June 2021, the Parties provided the Secretary General of ICSID and the Tribunal with a full and signed copy of the terms of the settlement agreement reached between the Parties (the "Settlement Agreement"). ICSID Arbitration Rule 43(2) provides: "If the parties file with the Secretary-General the full and signed text of their settlement and in writing request the Tribunal to embody such settlement in an award, the Tribunal may record the settlement in the form of its award." The Parties requested that the Tribunal embody the settlement in an Award, which will result in the formal and permanent discontinuance of the ICSID proceedings.

12. On 30 June 2021, the Parties jointly wrote to the Tribunal observing that they had identified that the sixth recital ("Whereas") of their Settlement Agreement contained a ministerial error. The Parties observed that the error was "not substantive in nature" but requested that the Tribunal's Award recorded that the correct recital should read as follows:

[English] "On 19 May 2020, the plenary Supreme Court dismissed the constitutionality claim, but left pending the administrative challenge to Cabinet Resolution No. 41 and the Compensation Agreement."

[Spanish] "Que el Pleno de la Corte Suprema de Justicia desestimó la Acción de inconstitucionalidad mediante fallo de 19 de mayo de 2020, quedando pendiente de resolución judicial la Acción Contenciosa Administrativa de Nulidad presentada por la Contraloría General de la República, contra la Resolución de Gabinete No. 41 y el Acuerdo Compensatorio."

13. In light of the above, the Tribunal, in accordance with ICSID Arbitration Rule 43(2), and as requested by the Parties, shall record the Settlement Agreement in the form of an Award.

III. AWARD

14. Accordingly, the Tribunal unanimously decides that the Settlement Agreement constitutes an integral part of this Award, and it is hereby incorporated as Annex A (taking into account the Parties' clerical correction recorded supra paragraph 12).

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• OGEL: Enel Fortuna SA v Republic of Panama - ICSID Case No. ARB/19/5 - Cabinet Resolution No 4 - Spanish - 12 January 2021
• OGEL: Enel Fortuna SA v Republic of Panama - ICSID Case No. ARB/19/5 - Cabinet Resolution No 44 and No 45 - Spanish - 17 April 2021
• TDM: Enel Fortuna SA v Republic of Panama - ICSID Case No. ARB/19/5 - Cabinet Resolution No 4 - Spanish - 12 January 2021
• TDM: Enel Fortuna SA v Republic of Panama - ICSID Case No. ARB/19/5 - Cabinet Resolution No 44 and No 45 - Spanish - 17 April 2021