ICSID Ad Hoc Committee stays enforcement of Arbitral Award against Panama pending Annulment Application

On 21 July 2022, the ad hoc Committee in Dominion Minerals Corp. v. Republic of Panama (ICSID Case No. ARB/16/13) decided to stay the enforcement of the Award issued on 5 November 2020 `(in favour of the Applicant and against the Republic of Panama) pending the decision in the annulment proceedings.

The Committee also dismissed Panama’s application under ICSID Arbitration Rule 41(5) and reserved the question of costs (from Panama’s applications) for a subsequent stage of the proceedings.

Stay of Enforcement of the Award