Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11, Decision on the Stay of Enforcement of the Award (September 30, 2013)
1. On October 9, 2012, the Republic of Ecuador filed with the Secretary-General of ICSID an application for the annulment of the Award rendered on October 5, 2012 in the present case. Ecuador’s application included a request under Article 52(5) of the ICSID Convention for a stay of enforcement of the Award, pending a decision by the Committee to be constituted on the application for annulment.
2. The Secretary-General of ICSID registered the application on October 11, 2012 at the same time notifying the parties, pursuant to Rule 54(2) of the ICSID Arbitration Rules, that enforcement of the Award was provisionally stayed.
3. On January 18, 2013, the ad hoc Committee was constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Prof. Juan Fernández-Armesto (Spanish), President, designated to the ICSID Panel of Arbitrators by the Kingdom of Spain; Judge Florentino P. Feliciano (Philippine), designated to the ICSID Panel of Arbitrators by the Republic of the Philippines, and Mr. Rodrigo Oreamuno B. (Costa Rican), designated to the ICSID Panel of Arbitrators by the Republic of Costa Rica; all members appointed by the Chairman of ICSID’s Administrative Council.
4. On February 13, 2013, the Claimants filed a request that the provisional stay of enforcement of the Award be lifted.
5. On March 25, 2013, the Committee held its first session with the parties by telephone conference. During the teleconference, the Claimants were represented by Mr. David W. Rivkin and Ms. Marjorie J. Menza, from Debevoise & Plimpton LLP; Mr. Gaëtan Verhoosel and Ms. Carmen Martínez, from Covington & Burling LLP and Ms. Laura C. Abrahamson, Associate General Counsel, Occidental Petroleum Corporation. The Republic of Ecuador, in turn, was represented by Ms. Christel Gaibor and Ms. Diana Moya Dávalos, from Ecuador’s Procuraduría General del Estado, Messrs. George von Mehren and Stephen P. Anway, from Squire Sanders (US) LLP and Professors Eduardo Silva Romero and Pierre Mayer, from Dechert LLP. All three members of the Committee, Prof. Juan Fernández-Armesto, Judge Florentino P. Feliciano and Mr. Rodrigo Oreamuno B., and the Secretary of the Committee, Mr. Gonzalo Flores, ICSID, participated during the teleconference.