Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11, Decision on the Request to Modify the Decision on the Stay of Enforcement of the Award (September 23, 2014)
1. The Tribunal issued its Decision on the Stay of Enforcement of the Award [“Decision on Stay”] on September 30, 2013, holding unanimously that “the stay of enforcement of the Award shall for the time being continue unconditionally” and reserving the decision on costs for a later stage in the proceedings.
2. On August 1, 2014 Claimants filed a letter requesting that the Committee reconsider and modify the Decision on Stay [“Claimants’ Request”]. On August 28, 2014, the Republic of Ecuador answered Claimants’ Request with a letter requesting the Committee to deny Claimants’ Request [“Ecuador’s Answer”]. The arguments raised by the Parties in their recent letters are summarized in the following sections.
3. Claimants request that the Decision on Stay be reconsidered and modified within certain limits.