Bolivia, Plurinational State of

Bolivia, Plurinational State of

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2018 BBVA v. Bolivia Banco Bilbao Vizcaya Argentaria S.A. v. Plurinational State of Bolivia (ICSID Case No. ARB(AF)/18/5) Bolivia, Plurinational State of - Spain BIT (2001) ICSID AF ICSID Investment: Majority shareholding in BBVA Previsión AFP, a pension fund administrator.

Summary: Claims arising out of the Government’s alleged failure to agree on the terms for transferring pension fund administration from BBVA Previsión AFP to a public entity, following the 2010 enactment of a law that nationalized the country’s pension fund sector.
Majority shareholding in BBVA Previsión AFP, a pension fund administrator. Pending Bolivia, Plurinational State of Spain Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Galíndez, V. - Claimant

Derains, Y. - Respondent

Alexandrov, S. A. - President
Data not available Data not available Data not available Pending None None None None None None None
2 2018 Orlandini-Ágreda and Compañía Minera Orlandini v. Bolivia Julio Miguel Orlandini-Ágreda and Compañía Minera Orlandini Ltda. v. Plurinational State of Bolivia (PCA Case No. 2018-39) Bolivia, Plurinational State of - United States of America BIT (1998) UNCITRAL PCA Investment: Mining concessions for the “Veneros San Juan” and “Pretoria” mining areas, located in the municipality of Antequera in western Bolivia.

Summary: Claims arising out of the Government’s alleged interference with and illegal expropriation of the claimants’ two mining concessions in Antequera. A state-owned mining company also allegedly conducted illegal mining activities within the claimants’ concession area and was granted concessions partly overlapping with the claimants’ pre-existing mining rights.
Mining concessions for the “Veneros San Juan” and “Pretoria” mining areas, located in the municipality of Antequera in western Bolivia. Pending Bolivia, Plurinational State of United States of America Primary: B - Mining and quarrying 7 - Mining of metal ores Alexandrov, S. A. - President

Tawil, G. S. - Claimant

Moreno Rodríguez, J. A. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
3 2016 Glencore Finance v. Bolivia Glencore Finance (Bermuda) Ltd. v. Plurinational State of Bolivia (PCA Case No. 2016-39) Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL PCA Investment: Indirect ownership of two smelting plants (the Vinto Metallurgical Complex and the Vinto Antimony Plant) and a tin and zinc mine (Colquiri Mining Center) through local subsidiaries Sinchi Wayra S.A. and Compañía Minera Colquiri S.A.

Summary: Claims arising out of Bolivia’s direct expropriations of two tin and antimony smelting plants as well as a tin and zinc mine, all owned by the claimant’s local subsidiaries.
Indirect ownership of two smelting plants (the Vinto Metallurgical Complex and the Vinto Antimony Plant) and a tin and zinc mine (Colquiri Mining Center) through local subsidiaries Sinchi Wayra S.A. and Compañía Minera Colquiri S.A. Pending Bolivia, Plurinational State of United Kingdom Primary: B - Mining and quarrying

Secondary: C - Manufacturing
7 - Mining of metal ores

24 - Manufacture of basic metals
Ramírez Hernández, R. - President

Gotanda, J. Y. - Claimant

Sands, P. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2015 Paz Holdings v. Bolivia Paz Holdings Ltd. v. Plurinational State of Bolivia Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL None Investment: Shareholding of 36.6 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER).

Summary: Claims arising out of Bolivia’s Supreme Decree No. 1448 of 2012, which ordered the nationalization of claimant’s (indirectly-held) shares in four Bolivian electricity companies.
Shareholding of 36.6 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER). Settled Bolivia, Plurinational State of United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted Data not available 19.51 mln USD Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
5 2014 Iberdrola v. Bolivia Iberdrola, S.A. and Iberdrola Energía, S.A.U. v. Plurinational State of Bolivia Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL PCA Investment: Shareholding of 63.4 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER).

Summary: Claims arising out of Bolivia’s Supreme Decree No. 1448 of 2012, which ordered the nationalization of claimants’ (indirectly-held) shares in four electricity companies.
Shareholding of 63.4 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER). Settled Bolivia, Plurinational State of Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sepúlveda Amor, B. - President

García-Valdecasas, R. - Claimant

Bottini, G. - Respondent
Data not available 34.18 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability None None None None None None None
6 2014 Red Eléctrica v. Bolivia Red Eléctrica Internacional S.A.U. v. Plurinational State of Bolivia Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL Data not available Investment: Ownership and control (99 per cent shareholding) of Transportadora de Electricidad S.A. (TDE), a Bolivian electricity company.

Summary: Claims arising out of the Government's issuance of Supreme Decree No. 1214 that seized and nationalized an electricity transmission company controlled by the claimant.
Ownership and control (99 per cent shareholding) of Transportadora de Electricidad S.A. (TDE), a Bolivian electricity company. Settled Bolivia, Plurinational State of Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted 200.00 mln USD 36.50 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 13 November 2014 None None None None None None
7 2013 South American Silver v. Bolivia South American Silver Limited v. The Plurinational State of Bolivia (PCA Case No. 2013-15) Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL PCA Investment: Rights under mining concessions held through claimant's wholly-owned subsidiary, Compañia Minera Malku Khota.

Summary: Claims arising out of the Government's decree that revoked mining concessions held by the claimant’s subsidiary, following protests and social unrest within the indigenous populations in the mining area.
Rights under mining concessions held through claimant's wholly-owned subsidiary, Compañia Minera Malku Khota. Decided in favour of investor Bolivia, Plurinational State of Bermuda Primary: B - Mining and quarrying 7 - Mining of metal ores Orrego Vicuña, F. - Claimant

Guglielmino, O. C. - Respondent

Zuleta, E. - President
385.70 mln USD 18.70 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation Award dated 30 August 2018 Separate Opinion of Francisco Orrego Vicuña

Dissenting Opinion of Osvaldo Cesar Guglielmino
None None None None None
8 2011 Abertis v. Bolivia Abertis Infraestructuras S.A. v. Government of Bolivia (PCA Case No. 2011-14) Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL PCA Investment: Controlling interest in three Bolivian airports (Santa Cruz, La Paz and Cochabamba) through a concession company in which claimant held a 90 per cent shareholding; related capital contributions.

Summary: Claims arising out of allegations that Bolivia breached the regime applicable to tariffs for boarding and landing services under certain airport concession agreement since it froze these tariffs in 2003 and later reduced them in 2005. The Government later nationalized SABSA, claimant's airport subsidiary in Bolivia after the arbitration was initiated and disagreements between the parties on appropriate compensation arose.
Controlling interest in three Bolivian airports (Santa Cruz, La Paz and Cochabamba) through a concession company in which claimant held a 90 per cent shareholding; related capital contributions. Settled Bolivia, Plurinational State of Spain Tertiary: H - Transportation and storage 51 - Air transport Mourre, A. - President (replaced)

Grigera Naón, H. A. - Claimant

Verhoosel, G. - Claimant (replaced)

Oreamuno Blanco, R. - Respondent

Perezcano Diaz, H. - President
85.50 mln USD 23.00 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
9 2010 Air BP v. Bolivia Air BP S.A. v. Plurinational State of Bolivia Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL Data not available Investment: Concessions for the supply of aviation fuel through service stations at 15 airports.

Summary: Claims arising out of Bolivia’s Supreme Decree No. 111 of 2009 that nationalized the claimant’s business of providing aviation fuel supply services at Bolivian airports under contracts with the State. The Supreme Decree transferred all shares of Air BP Bolivia to the state-owned company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).
Concessions for the supply of aviation fuel through service stations at 15 airports. Pending Bolivia, Plurinational State of United Kingdom Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 46 - Wholesale trade, except of motor vehicles and motorcycles Tawil, G. S. - President

Name not available - Claimant

Name not available - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
10 2010 Guaracachi v. Bolivia Guaracachi America, Inc. and Rurelec PLC v. The Plurinational State of Bolivia (PCA Case No. 2011-17) Bolivia, Plurinational State of - United Kingdom BIT (1988)

Bolivia, Plurinational State of - United States of America BIT (1998)
UNCITRAL PCA Investment: Indirect controlling shareholding in Bolivian company that held a 30 year electricity generation license; associated licenses and permits; capital contributions for acquisition of energy generation assets including several gas turbines and gas engines.

Summary: Claims arising out of the Government's nationalisation of Guaracachi America, Inc. and of Rurelec's controlling 50.001 per cent shareholding in the Bolivian electricity company Empresa Eléctrica Guaracachi, as well as the alleged failure by the claimants to obtain justice through the Bolivian court system and the subsequent seizure of assets owned by Rurelec’s subsidiary, Energía para Sistemas Aislados Energais S.A.
Indirect controlling shareholding in Bolivian company that held a 30 year electricity generation license; associated licenses and permits; capital contributions for acquisition of energy generation assets including several gas turbines and gas engines. Decided in favour of investor Bolivia, Plurinational State of United Kingdom

United States of America
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Júdice, J. M. - President

Conthe, M. - Claimant

Vinuesa, R. E. - Respondent
136.40 mln USD 28.90 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation Award dated 31 January 2014 Dissenting Opinion of co-arbitrator Manuel Conthe (Award) None None None None None
11 2010 Oiltanking v. Bolivia Oiltanking GmbH, Graña Montero S.A. and Graña Montero S.A.A. v. Bolivia Bolivia, Plurinational State of - Germany BIT (1987)

Bolivia, Plurinational State of - Peru BIT (1993)
UNCITRAL PCA Investment: Shareholding in Compañía Logística de Hidrocarburos de Bolivia, a fuel storage and pipeline company.

Summary: Claims arising out of the Government's 2008 nationalization of the claimants' shares in a company engaged in the transportation and storage of hydrocarbons, following failed negotiations between the State and the company concerning the amount invested and the compensation owed.
Shareholding in Compañía Logística de Hidrocarburos de Bolivia, a fuel storage and pipeline company. Settled Bolivia, Plurinational State of Germany

Peru
Primary: B - Mining and quarrying

Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas

9 - Mining support service activities
Data not available 30.00 mln USD 16.40 mln USD Direct expropriation

Unclear
Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
12 2010 Pan American v. Bolivia Pan American Energy LLC v. Plurinational State of Bolivia (ICSID Case No. ARB/10/8) Bolivia, Plurinational State of - United States of America BIT (1998) ICSID ICSID Investment: Shareholding in Pan American's subsidiary Chaco Petroleum, which held hydrocarbons exploration and exploitation rights in Bolivia.

Summary: Claims arising out of the Government's nationalization of the Chaco Petroleum Company, a subsidiary in which Pan American held a 50 per cent interest.
Shareholding in Pan American's subsidiary Chaco Petroleum, which held hydrocarbons exploration and exploitation rights in Bolivia. Settled Bolivia, Plurinational State of United States of America Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Cremades, B. M. - President

Orrego Vicuña, F. - Claimant

Oreamuno Blanco, R. - Respondent
1500.00 mln USD 357.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Decision on the Respondent's Preliminary Objections pursuant to ICSID Arbitration Rule 41(5) dated 26 April 2013

Decision on Respondent's request to address the objections to jurisdiction as a preliminary question dated 25 November 2013

Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 24 February 2015, pursuant to ICSID Arbitration Rule 43(1)
None None None None None None
13 2009 ETI v. Bolivia (II) E.T.I. Euro Telecom International N.V. v. Republic of Bolivia (II) Bolivia, Plurinational State of - Netherlands BIT (1992) UNCITRAL PCA Investment: Shareholding in a Bolivian telecoms company.

Summary: Claims arising out of the Government's transfer of claimant's 50 per cent stake in the Bolivian telecoms company Entel to the State after the company was nationalized in 2007.
Shareholding in a Bolivian telecoms company. Settled Bolivia, Plurinational State of Netherlands Tertiary: J - Information and communication 61 - Telecommunications Simma, B. - President

Orrego Vicuña, F. - Claimant

Sands, P. - Respondent
700.00 mln EUR (961.60 mln USD) 50.00 mln USD Direct expropriation

Unclear
Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
14 2008 AEI v. Bolivia Ashmore Energy International (A.E.I) Luxembourg Holdings S.a.r.l. v. the Plurinational State of Bolivia BLEU (Belgium-Luxembourg Economic Union) - Bolivia, Plurinational State of BIT (1990) SCC SCC Investment: Minority shareholding in the Bolivian Transporte de Hidrucarburos S.A. (Transredes) natural gas pipeline.

Summary: Claims arising out of the alleged Government's expropriation of shares in the natural gas pipeline Transporte de Hidrucarburos S.A. (Transredes) in which AEI held a 25 per cent stake.
Minority shareholding in the Bolivian Transporte de Hidrucarburos S.A. (Transredes) natural gas pipeline. Settled Bolivia, Plurinational State of Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kaufmann-Kohler, G. - President

Brower, C. N. - Claimant

Derains, Y. - Respondent
500.00 mln USD 121.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
15 2007 ETI v. Bolivia (I) E.T.I. Euro Telecom International N.V. v. Plurinational State of Bolivia (I) (ICSID Case No. ARB/07/28) Bolivia, Plurinational State of - Netherlands BIT (1992) ICSID ICSID Investment: Shareholding in a Bolivian telecoms company.

Summary: Claims arising out of the Government's transfer of claimant's 50 per cent stake in the Bolivian telecoms company Entel to the State after the company was nationalized in 2007.
Shareholding in a Bolivian telecoms company. Settled Bolivia, Plurinational State of Netherlands Tertiary: J - Information and communication 61 - Telecommunications Simma, B. - President

Orrego Vicuña, F. - Claimant

Sands, P. - Respondent
700.00 mln EUR (961.60 mln USD) 50.00 mln USD Direct expropriation

Unclear
Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 21 October 2009, pursuant to ICSID Arbitration Rule 44 None None None None None None
16 2006 Quiborax v. Bolivia Quiborax S.A., Non-Metallic Minerals S.A. v. Plurinational State of Bolivia (ICSID Case No. ARB/06/2) Bolivia, Plurinational State of - Chile BIT (1994) ICSID ICSID Investment: Rights under mining concession agreements.

Summary: Claims arising out of the revocation by Presidential Decree of eleven mining concessions allegedly held by claimants through an investment vehicle in Bolivia.
Rights under mining concession agreements. Decided in favour of investor Bolivia, Plurinational State of Chile Primary: B - Mining and quarrying

Secondary: C - Manufacturing
8 - Other mining and quarrying

23 - Manufacture of other non-metallic mineral products
Kaufmann-Kohler, G. - President

Lalonde, M. - Claimant

Stern, B. - Respondent
66.00 mln USD 48.60 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Indirect expropriation
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Indirect expropriation
Decision on Jurisdiction dated 27 September 2012

Award dated 16 September 2015
Partially Dissenting Opinion ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on the Application for Annulment dated 18 May 2018 (ICSID annulment proceedings) None Rigo Sureda, A. - President

Söderlund, C. - Member

Argueta Pinto, M. - Member
17 2002 Aguas del Tunari v. Bolivia Aguas del Tunari S.A. v. Republic of Bolivia (ICSID Case No. ARB/02/3) Bolivia, Plurinational State of - Netherlands BIT (1992) ICSID ICSID Investment: Rights under a concession contract for the provision of water and sewerage services to the City of Cochabamba, Bolivia.

Summary: Claims arising out of alleged actions and omissions of the government leading up to the rescission of a concession agreement entered into with the claimant.
Rights under a concession contract for the provision of water and sewerage services to the City of Cochabamba, Bolivia. Settled Bolivia, Plurinational State of Netherlands Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Caron, D. D. - President

Álvarez, H. C. - Claimant

Alberro-Semerena, J. L. - Respondent
Data not available Data not available Indirect expropriation

Unclear
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 21 October 2005

Order taking note of the discontinuance issued by the Tribunal dated 28 March 2006, pursuant to ICSID Arbitration Rule 44
Dissenting Declaration of Jose Luis Alberro-Semerena (Decision on Jurisdiction) None None None None None
NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2009 Globalnet v. Ecuador Globalnet - Únete Telecomunicaciones S.A. and Clay Pacific S.R.L. v. The Republic of Ecuador Bolivia, Plurinational State of - Ecuador BIT (1995) UNCITRAL Data not available Investment: Rights under a concession agreement for telecommunication services in Ecuador concluded with the National Secretary of Telecommunications and the National Modernization Council (CONAM).

Summary: Claims arising out of the Government's unilateral termination of a contract concluded with the investor to provide fixed and mobile telephony and Internet to 1,120 rural and marginal urban municipalities of Ecuador that did not have such services at that time, due to the investor's alleged gross negligence in the performance of its contractual duties.
Rights under a concession agreement for telecommunication services in Ecuador concluded with the National Secretary of Telecommunications and the National Modernization Council (CONAM). Pending Ecuador Bolivia, Plurinational State of Tertiary: J - Information and communication 61 - Telecommunications Data not available 32.50 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

National treatment
Pending Data not available Data not available None None None None None