Commerce Group Corp. and San Sebastian Gold Mines, Inc. v. The Republic of El Salvador, ICSID Case No. ARB/09/17, Order of the Committee Discontinuing the Proceeding and Decision on Costs (August 28, 2013)
1. On July 12, 2011, the International Centre for Settlement of Investment Disputes (“ICSID” or the “Centre”) received an Application for Annulment of the award rendered on March 14, 2011 in the arbitration proceeding of Commerce Group Corp. and San Sebastian Gold Mines, Inc. v. Republic of El Salvador (ICSID Case No. ARB/09/17) (“Award”). The application was brought by Commerce Group Corp. and San Sebastian Gold Mines, Inc., (the “Applicants” or “Claimants”) against the Republic of El Salvador (the “Respondent” or “El Salvador”).
2. On July 15, 2011, the Centre registered the Application for Annulment pursuant to Arbitration Rule 50(2)(a).
3. On August 8, 2011, the ad hoc Committee was constituted in accordance with Arbitration Rule 52(2) as follows: Professor Emmanuel Gaillard (French), President; Professor Michael C. Pryles (Australian); and Professor Christoph Schreuer (Austrian).
4. On August 17, 2011, the Centre requested the Applicants to pay US $150,000.00 pursuant to Administrative and Financial Regulation 14(3)(e).
5. On September 26, 2011, the ad hoc Committee held a first session with the parties by telephone conference.
6. On October 24, 2011, the Centre informed the parties that it had not received the advance payment from the Applicants. In accordance with ICSID Administrative and Financial Regulation 14(3)(d), the Centre invited either party to pay the outstanding balance.