Antonio del Valle Ruiz and others v. The Kingdom of Spain

The PCA provides registry and administrative support in this arbitration, which is being conducted under the 2013 UNCITRAL Arbitration Rules


Case information

Name(s) of Claimant(s) Abraham Abadi Tawil (Private entity )
Alejandra Pérez Mina (Private entity )
Alejandro Finkler Kudler (Private entity )
Alejandra Rojas Velasco (Private entity )
Alonso de Garay Gutiérrez (Private entity )
Antonio Cosio Ariño (Private entity )
Antonio del Valle Perochena (Private entity )
Arantzazu del Valle Diharce (Private entity )
Arturo Grinberg Kreimerman (Private entity )
BBVA Bancomer Servicios, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer, as trustee of Trust F/703850 (Private entity )
Carlos Ruiz Sacristán (Private entity )
Consultores CGEK, S.C. (Private entity )
David Troice Jalife (Private entity )
Divo Milan Haddad (Private entity )
Edmundo del Valle Diharce (Private entity )
Elías Abadi Cherem (Private entity )
Enrique Rojas Blásquez (Private entity )
Eugenio Santiago Clariond Reyes (Private entity )
Fernando Ramos González de Castilla (Private entity )
Francisco Javier del Valle Perochena (Private entity )
Fondo Administrado 5, S.A. de C.V., Fondo de Inversión de Renta Variable (Private entity )
GBM Capital Bursátil, S.A. de C.V., Fondo de Inversión de Renta Variable (Private entity )
GBM Fondo de Inversión Total, S.A. de C.V., Fondo de Inversión de Renta Variable (Private entity )
GBM Global, S.A. de C.V., Fondo de Inversión de Renta Variable (Private entity )
GBM, S.A. de C.V., Casa de Bolsa, as trustee of Trusts F/000138; F/000139; F/101; and F/100 (Private entity )
Gerardo Madrazo Gómez (Private entity )
Germán Larrea Mota Velasco (Private entity )
Georgina Rojas Velasco (Private entity )
Grow Investments S.A. de C.V. (Private entity )
Hechos con Amor S.A. de C.V. (Private entity )
Inmobiliaria Asturval, S.A. de C.V. (Private entity )
Isabel Rojas Velasco (Private entity )
Jacobo Troice Jalife (Private entity )
Jaime Abadi Cherem (Private entity )
Jaime Ruiz Sacristán (Private entity )
Jorge Esteve Recolons (Private entity )
Jorge Rojas Mota Velasco (Private entity )
José Eduardo del Valle Diharce (Private entity )
José María Casanueva Y Llaguno (Private entity )
José Manuel Fierro Von Mohr (Private entity )
Juan Pablo del Valle Perochena (Private entity )
Julio Andrés Maza Casas (Private entity )
Luis de Garay Russ (Private entity )
Luis Francisco Suinaga Aguilar (Private entity )
María Blanca del Valle Percohena (Private entity )
María de Guadalupe del Valle Perochena (Private entity )
María Eugenia Velasco Fernández (Private entity )
María Rojas Velasco (Private entity )
Pedro de Garay Montero (Private entity )
Rogelio Barrenechea Cuenca (Private entity )
Simple Investments, S.A de C.V. (Private entity )
Sofía de Garay Montero (Private entity )
Xochitl de Guadalupe Montero Motta (Xochitl Montero De De Garay) (Private entity )
Name(s) of Respondent(s) -
Names of Parties -
Case number 2019-17
Administering institution Permanent Court of Arbitration (PCA)
Case status Pending
Type of case Investment arbitration
Subject matter or economic sector International investment law
Rules used in arbitral proceedings UNCITRAL Arbitration Rules 2013
Treaty or contract under which proceedings were commenced

[Bilateral treaty]
Agreement on the Promotion and Reciprocal Protection of Investments Between the United Mexican States and the Kingdom of Spain signed on 10 October 2006
Country A: Mexico
Country B: Spain


Language of Proceeding -
Seat of Arbitration (by Country) - N/A -
Arbitrator(s)

Prof. Gabrielle Kaufmann-Kohler (President of the Tribunal)

Prof. William Park (Co-Arbitrator)

Mr. Alexis Mourre (Co-Arbitrator)

Dr. Michele Potestà (Secretary to the Tribunal)  

Representatives of the Claimant(s)

Javier H. Rubinstein
Lauren F. Friedman
Lucila I. M. Hemmingsen
Kevin Mohr
Eduardo Bruera
Fernando Rodriguez-Cortina
Enrique Molina
Isabel San Martin

King & Spalding LLP

Representatives of the Respondent(s)

José Manuel Gutiérrez Delgado
Luis Enrique Vacas Chalfoun
Pablo Elena Abad
Alberto Torró Molés
María del Socorro Garrido
Ana María Rodríguez Esquivias
Juan Antonio Quesada Navarro

Abogacía General del Estado,

Ministerio de Justicia

Representatives of the Parties
Number of Arbitrators in case 3
Date of commencement of proceeding 23 August 2018
Date of issue of final award -
Length of Proceedings -
Additional notes

The economic sector involved in this dispute is the banking sector.