Summary

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

DECISION ON THE ANNULMENT APPLICATION

Members of the ad hoc Committee
Dr Christopher Harris K.C., President
Ms Melanie van Leeuwen, Member
Mr Gabriel Bottini, Member

Date of dispatch to the Parties: 14 October 2022

I. INTRODUCTION

1. This annulment proceeding relates to the Award dated 17 April 2020 (the "Award") rendered in ICSID Case No. ARB/17/18 (the "ICSID Arbitration") between (DS)2 SA, Mr Peter de Sutter and Mr Kristof de Sutter as claimants (in this annulment proceeding, the "Respondents") and the Republic of Madagascar as respondent ("Madagascar" and in this annulment proceeding the "Applicant"). The ICSID Arbitration was commenced under the Accord entre l'Union Économique Belgo- Luxembourgeoise et la République de Madagascar concernant l'encouragement et la protection réciproques des investissements, which was signed on 29 September 2005, and which entered into force on 29 November 2008 (the "BIT").

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VII. DECISION OF THE COMMITTEE

155 Based on the foregoing,

155.1 the Committee decides:

155.1.1 The application for annulment on the Article 52(1)(d) grounds (the Representation Issue and the Burden Issue) is dismissed.

155.1.2 The Applicant shall bear the costs of the annulment proceeding, which amount to USD 301,190.14.

155.1.3 The Parties shall each bear their own legal costs in connection with this annulment proceeding.

155.2 A majority of the Committee further decides:

155.2.1 The Application for Annulment on the Article 52(1)(b) ground (the Jurisdiction Issue) is dismissed, meaning that the Application for Annulment is dismissed in its entirety.

155.3 All other claims are dismissed.

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Footnotes omitted