This page details an ongoing investor-state arbitration case filed by Cyrus Capital Partners, L.P., and Contrarian Capital Management against the United Mexican States. The case, registered as ICSID Case No. ARB/23/33, falls under the rules of the International Centre for Settlement of Investment Disputes (ICSID Convention – Arbitration Rules).
The legal basis for this claim is rooted in the North American Free Trade Agreement (NAFTA) and its successor, the United States-Mexico-Canada Agreement (USMCA), both key international investment agreements. The economic sector involved is classified as Financial and insurance activities, indicating the nature of Cyrus Partners’ investment in Mexico.
For those seeking to follow the case more closely, it is mapped and further detailed on Investor-State LawGuide, a resource specializing in investment treaty arbitration.
Key Dates and Appointments in the Cyrus Partners v. Mexico Arbitration
Several key dates mark the progression of this arbitration. Initial appointments were made in June 2023, with both claimant and respondent appointing arbitrators on June 28th and June 30th, 2023 respectively. David J. A. Cairns was appointed by the claimants, Cyrus Partners and Contrarian Capital Management, while Zachary Douglas was appointed by the United Mexican States. Lord Collins of Mapesbury was designated as the Chair/President of the arbitration tribunal.
Further updates in April 2024 show continued activity, with entries on April 3rd and 4th. These entries list the legal counsel representing both sides. Cyrus Partners and Contrarian Capital Management are represented by a team from Akin Gump Strauss Hauer & Feld LLP, including Jonathan C. Poling, Stephen S. Kho, Katherine P. Padgett, and others. The United Mexican States is represented by Pillsbury Winthrop Shaw Pittman LLP, including Stephan E. Becker and Gary J. Shaw, and additional counsel listed in later updates.
A more recent update from June 4th, 2024, and another on September 29, 2024, reiterate the appointed arbitrators and counsel, indicating the ongoing nature of the proceedings. The inclusion of various Mexican counsel for the respondent in the June and September entries, alongside international firms, suggests a deepening phase of engagement in the arbitration.
Tracking the Cyrus Partners Arbitration
This case, Cyrus Capital Partners, L.P. and Contrarian Capital Management v. United Mexican States, represents a significant investor-state dispute under both NAFTA and USMCA. For professionals tracking investment arbitration and for those specifically interested in cases involving Cyrus Partners, this page serves as a continuously updated resource. The listed documents and personnel provide a clear overview of the case’s progression and key participants involved in this international legal challenge.
