Park Avenue Capital LLC v Republic of Moldova - ICSID Case No. ARB/25/25 - Procedural Order No 4 - On Bifurcation - 15 May 2026

Country
Year

2026

Summary

Source: icsid.worldbank.org

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CONCLUSION

54. Accordingly, having considered the arguments raised by both Parties, the Tribunal has decided not to bifurcate these proceedings because:

i. The Respondent's first to eighth objections to jurisdiction would involve deciding on factual issues which are so intertwined with the merits as to make bifurcation impractical;

ii. The ninth objection has not been sufficiently substantiated to justify bifurcation at this stage; and

iii. Bifurcation is unlikely to save time and cost, and may materially increase them, as a jurisdictional phase involving substantial disputed factual evidence would not be concluded materially earlier than the full hearing on jurisdiction and the merits currently scheduled for November 2027.

IV. DECISION

55. For the reasons set out above, the Tribunal hereby denies the Respondent's Request for Bifurcation.

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