Victor Pey Casado and President Allende Foundation v. Republic of Chile, ICSID Case No. ARB/98/2, Decision on Chile's Request for a Stay of Enforcement of the Unannulled Portion of the Award (May 16, 2013)
On 18 December 2012, the Committee issued its Decision on the Application for 1.Annulment of the Republic of Chile (the “Annulment Decision”) partially annulling the award rendered on 8 May 2008 in ICSID Case No. ARB/98/2 (the “Award”) between Víctor Pey Casado and the Foundation “President Allende” (the “Claimants”) and the Republic of Chile (the “Republic” or “Respondent”).
On 1 February 2013, the Republic submitted a Request for Supplementation of the 2.Annulment Decision (“Supplementation Request”) regarding the application of moratory interests to the amounts owed for costs and expenses pursuant to the unannulled portion of the Award, the Tribunal’s Revision Decision dated 18 November 2009 (the “Revision Decision”) and the Annulment Decision.1 Further to the Parties’ agreement on the schedule for written observations regarding the Supplementation Request, the Republic filed its observations in support of its Supplementation Request on 4 March 2013 and the Claimants filed a response on 29 March 2013.
On 3 April 2013, the Respondent submitted a request for a stay of enforcement of the 3.unannulled portions of the Award (the “Request”) during the pendency of the current proceedings related to the Republic’s Supplementation Request. Upon the invitation of the Committee, the Claimants filed observations on the Request on 8 April 2013 (the “Stay Observations”).