Eco Oro Minerals Corp C.EOM

RE:RE:ICSID Update - Proceeding Declared Closed

[sailor8]

Possible timeline from now, Quote from the ICSID Rules again:

Chapter IX: The Award

 

Rule 58: Timing of the Award

(1) The Tribunal shall render the Award as soon as possible, and in any event no later than:

(a) 60 days after the later of the Tribunal constitution or the last submission, if the Award is rendered pursuant to Rule 41(3);

(b) 180 days after the last submission if the Award is rendered pursuant to Rule 44(3)(c); or

(c) 240 days after the last submission in all other cases.

(2) A statement of costs and submission on costs filed pursuant to Rule 51 shall not be considered a submission for the purposes of paragraph (1).

Rule 59: Contents of the Award

(1) The Award shall be in writing and shall contain:

(a) a precise designation of each party;

(b) the names of the representatives of the parties;

(c) a statement that the Tribunal was established in accordance with the Convention and a description of the method of its constitution;

(d) the name of each member of the Tribunal and the appointing authority of each;

(e) the date and place of the first session, case management conferences and hearings;

(f) a brief summary of the proceeding;

(g) a statement of the relevant facts as found by the Tribunal;

(h) a brief summary of the submissions of the parties, including the relief sought;

(i) the decision of the Tribunal on every question submitted to it, and the reasons on which the Award is based; and

(j) a statement of the costs of the proceeding, including the fees and expenses of each member of the Tribunal, and a reasoned decision on costs.

(2) The Award shall be signed by the members of the Tribunal who voted for it. It may be signed by electronic means if the parties agree.

(3) Any member of the Tribunal may attach an individual opinion or a statement of dissent to the Award before the Award is rendered.

Rule 60: Rendering of the Award

(1) Once the Award has been signed by the members of the Tribunal who voted for it, the Secretary-General shall promptly:

(a) dispatch a certified copy of the Award to each party, together with any individual opinion and statement of dissent, indicating the date of dispatch on the Award; and

(b) deposit the Award in the archives of the Centre, together with any individual opinion and statement of dissent.

(2) The Award shall be deemed to have been rendered on the date of dispatch of certified copies of the Award.

(3) The Secretary-General shall provide additional certified copies of the Award to a party upon request.

Rule 61: Supplementary Decision and Rectification

(1) A party requesting a supplementary decision on, or the rectification of, an Award pursuant to Article 49(2) of the Convention shall file the request with the Secretary-General and pay the lodging fee published in the schedule of fees within 45 days after the Award was rendered.

(2) The request referred to in paragraph (1) shall:

(a) identify the Award to which it relates;

(b) be signed by each requesting party or its representative and be dated;

(c) specify:

(i) with respect to a request for a supplementary decision, any question which the Tribunal omitted to decide in the Award;

(ii) with respect to a request for rectification, any clerical, arithmetical or similar error in the Award; and

(d) attach proof of payment of the lodging fee.

(3) Upon receipt of the request and the lodging fee, the Secretary-General shall promptly:

(a) transmit the request to the other party;

(b) register the request, or refuse registration if the request is not filed or the fee is not paid within the time limit referred to in paragraph (1); and

(c) notify the parties of the registration or refusal to register.

(4) As soon as the request is registered, the Secretary-General shall transmit the request and the notice of registration to each member of the Tribunal.

(5) The President of the Tribunal shall determine the procedure to consider the request, after consulting with the other members of the Tribunal and the parties.

(6) Rules 59-60 shall apply to any decision of the Tribunal pursuant to this Rule.

(7) The Tribunal shall issue a decision on the request for supplementary decision or rectification within 60 days after the last submission on the request.

(8) The date of dispatch of certified copies of the supplementary decision or rectification shall be the relevant date for the purposes of calculating the time limits in Articles 51(2) and 52(2) of the Convention.

(9) A supplementary decision or rectification under this Rule shall become part of the Award and shall be reflected on all certified copies of the Award.
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source: https://icsid.worldbank.org/rules-regulations/convention/arbitration-rules/chapter-ix-the-award