(1) Natland Investment Group N.V. (The Netherlands), (2) Capamera Limited (previously Natland Group Limited) (Cyprus), (3) G.I.H.G. Limited (Cyprus), (4) Radiance Energy Holding S.à.r.l. (Luxembourg) v. The Czech Republic

The PCA acts as registry in this arbitration, which is conducted under the UNCITRAL Arbitration Rules 1976 pursuant to the Energy Charter Treaty, the Netherlands-Czech Republic BIT, the Cyprus-Czech Republic BIT, and the Luxembourg-Czech Republic BIT.

Case information

Name(s) of Claimant(s) (1) Natland Investment Group N.V. (The Netherlands) (Private entity )
(2) Capamera Limited (previously Natland Group Limited) (Cyprus) (Private entity )
(3) G.I.H.G. Limited (Cyprus) (Private entity )
(4) Radiance Energy Holding S.à.r.l. (Luxembourg) (Private entity )
Name(s) of Respondent(s) The Czech Republic (State)
Names of Parties -
Case number 2013-35
Administering institution Permanent Court of Arbitration (PCA)
Case status Concluded
Type of case Investment arbitration
Subject matter or economic sector Electricity/Power
Procedural rules UNCITRAL Arbitration Rules 1976
Treaty or contract under which proceedings were commenced

Multilateral treaty
Energy Charter Treaty (ECT)

Bilateral treaty
Agreement on Encouragement and Reciprocal Protection of Investments between the Kingdom of the Netherlands and the Czech and Slovak Federal Republic
Country A: Netherlands
Country B: Czech Republic

Bilateral treaty
Agreement between the Czech Republic and the Republic of Cyprus for the Promotion and Reciprocal Protection of Investments
Country A: Cyprus
Country B: Czech Republic

Bilateral treaty
Agreement between the Belgo-Luxembourg Economic Union and the Czechoslovak Socialist Republic concerning the Reciprocal Promotion and Protection of Investments
Country A: Luxembourg
Country B: Czech Republic

Language of Proceeding English
Seat of Arbitration (by Country) Switzerland
Arbitrator(s), Conciliator(s), Other Neutral(s)

Prof. Alfredo Bullard (Presiding Arbitrator)

Mr John Beechey CBE

Mr J. Christopher Thomas, KC

Representatives of the Claimant(s)

Prof. Luca G. Radicati di Brozolo

Mr Michele Sabatini

Dr Flavio Ponzano

Dr Emilio Bettoni

Ms Lucia Pontremoli

ARBLIT - Radicati di Brozolo Sabatini Benedettelli Torsello


Mr Nico Leslie

Fountain Court Chambers


Representatives of the Respondent(s)

Ms Martina Matejová

Mr Jaroslav Kudrna

Ministry of Finance of the Czech Republic


Mr Paolo Di Rosa

Mr Dmitri Evseev*

Ms Mallory Silberman*

Ms Sally Pei

Mr Bart Wasiak

Mr John Muse-Fisher 

Mr Peter Nikitin*

Ms Naomi Biden

Arnold & Porter Kaye Scholer LLP

(* The attorneys identified with an asterisk are no longer with Arnold & Porter)


Ms Karolína Horáková

Mr Libor Morávek

Mr Pavel Kinnert

Skils s.r.o. advokátní kancelář


Representatives of the Parties
Number of Arbitrators in case 3
Date of commencement of proceeding 08 May 2013
Date of issue of final award -
Length of Proceedings -
Additional notes -