1. On July 12, 2011, the International Centre for Settlement of Investment Disputes (ICSID) registered a Request for Arbitration submitted by Burimi S.R.L. and Eagle Games SH.A., (the “Claimants”) against the Republic of Albania (the “Respondent”). The Request for Arbitration was filed on the basis of the dispute-settlement provisions of the Agreement for the Promotion and Protection of Investments (the BIT) between the Republic of Italy and the Republic of Albania.
2. On November 22, 2011, the Arbitral Tribunal was constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Daniel M. Price (U.S.), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Bernardo M. Cremades (Spain), appointed by the Claimants; and Ibrahim Fadlallah (Lebanon/France), appointed by the Respondent.
3. On March 30, 2012, the Respondent filed a request for provisional measures concerning security for costs (the “Respondent’s Request”) pursuant to Article 47 of the ICSID Convention. On the same day, the Respondent submitted objections to jurisdiction pursuant to ICSID Arbitration Rule 41(1) and a request for bifurcation.
4. Pursuant to ICSID Arbitration Rule 39(4), the Tribunal invited the Claimants to file their observations on the Respondent’s Request by April 9, 2012. On April 3, 2012, the Claimants requested an extension to file their observations by April 13, 2012. On the same day, the Tribunal granted the extension.