The tribunal was composed of Mr. Laurent Lévy, Prof. Filip de Ly and Mr. John Beechey. The proceedings involved extensive provision of evidence from seven experts and culminated in a two-week hearing on the merits following two earlier procedural hearings.
Eni acknowledged the outcome of the arbitration but in the period thereafter has refused to return EUR 1 billion in price reductions that GasTerra had provisionally and for invoicing purposes only granted to Eni pending the outcome of the arbitration. GasTerra subsequently attached EUR 1 billion in assets of Eni, including shares in an Eni subsidiary holding Eni’s international operations. GasTerra has further commenced a new UNCITRAL arbitration to obtain return of the monies. De Brauw is also acting for GasTerra in these matters.