Summary

Source: icsid.worldbank.org

1. Mr Ricardo Filomeno Duarte Ventura Leitão Machado ("Mr Machado" or the "Claimant") submits this statement of claim (the "Statement of Claim") against the Republic of Angola ("Angola", the "Respondent" or the "State"), pursuant to Rule 30 of the ICSID Arbitration Rules and to the procedural calendar annexed to Procedural Order No. 1, which was confirmed by the Tribunal's Decision on the Respondent's Rule 41 objection.

I. Introduction

2. This dispute arises from Angola's arbitrary, unlawful, and persistent interference with Mr Machado's indirect property rights in four GE TM2500 GEN8 turbines, with manufacturer codes MNG #7266027, #7267025, #7267575, and #7267577, and related1 and additional2 equipment (the "Four Turbines"), held through Aenergy, S.A. ("Aenergy").

3. Angola's unlawful interference with Mr Machado's investment began in 2022 and continues to this day. Amongst other wrongful actions, Angola has removed the Four Turbines from judicial custody, installed them in Angolan state-owned power plants, and connected them to the national power grid.

4. These actions were taken with the complicity of Angola's Institute for the Management of the State's Assets and Shares ("IGAPE") and the Provincial Court of Luanda, Civil and Administrative Chamber, Second Division (the "Provincial Court of Luanda"). Both authorities, responsible for the judicial custody of the Four Turbines, turned a blind eye or perhaps even participated in the misappropriation of the Claimant's investment.

5. Their complicity became evident when they failed to take any action or to even respond to Aenergy's requests for information regarding the whereabouts of the Four Turbines. This collusion was further confirmed when the Provincial Court of Luanda suddenly decided to revive the proceeding relating to the Four Turbines after five years of silence, just days before the Tribunal decided on Angola's Rule 41 objection.

6. The State's conduct is in violation of the bilateral investment treaty between the Republic of Portugal and the Republic of Angola, entered into on 22 February 2008 and amended on 16 July 2021 (the "BIT"). First, Angola's acts constitute an expropriation. Second, Angola has breached its obligation to provide fair and equitable treatment ("FET"), having frustrated Mr Machado's legitimate expectations, breached due process, and acted arbitrarily. Third, Angola has breached its obligation to provide full protection and security ("FPS") to Mr Machado's investment.

7. Mr Machado is entitled to full reparation for the damage caused by Angola's unlawful conduct. The Claimant's experts - AlixPartners - have calculated that, as a result of Angola's breaches of the BIT, Mr Machado has lost USD 171,065,808. These losses must be compensated by Angola.

8. The Claimant's Statement of Claim is structured as follows: Section II sets out the facts underlying the dispute; Section III addresses the Tribunal's jurisdiction; Section IV addresses Mr Machado's standing to bring claims of expropriation, FET and FPS with respect to the Four Turbines; Section V sets out Angola's breaches of the BIT; Section VI explains that Angola must compensate Mr Machado for the losses it has caused; and Section VII contains Mr Machado's request for relief.

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