rebels link9 Apr 2017 10:34
On 2 February 2015, the Bolivarian Republic of Venezuela (“Venezuela” or “the Applicant”)
filed with the Secretary-General of the International Centre for Settlement of Investment
Disputes (“ICSID” or “the Centre”) an Application under Article 52 of the ICSID Convention
and Rule 50 of the ICSID Arbitration Rules (“the Application”), seeking the annulment of the
Award rendered on 9 October 2014 (“the Award”) of the Tribunal in the arbitration
proceedings between Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil
Venezolana de Petróleos Holdings, Inc., Mobil Cerro Negro, Ltd. and Mobil Venezolana de
Petróleos, Inc. (“the Mobil Parties” or “Respondents”) and Venezuela. The Application sought
annulment of the Award on three of the five grounds set forth in Article 52(1) of the
Convention.
2. The Application also included a request for a stay of enforcement of the Award under
Article 52(5) of the ICSID Convention.
3. On 9 February 2015, the Secretary-General informed the Parties that the Application had been
registered on that date and that the Chairman of the Administrative Council of ICSID would
proceed to appoint an ad hoc Committee pursuant to Article 52(3) of the ICSID Convention.
The Parties were also notified that, pursuant to ICSID Arbitration Rule 54(2), enforcement of
the Award had been provisionally stayed.
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So this case took 1 week from filing the annulment request to announcing the request ???