Bupa Investments Overseas Limited v. Republic of Chile

At a glance

Parties

Bupa Investments Overseas Limited v. Republic of Chile

Case no.

ICSID Case No. ARB/25/50

Forum and rules

ICSID Convention arbitration; ICSID Arbitration Rules in force as of 1 July 2022; place of proceeding Washington, D.C.

Treaty

United Kingdom–Chile BIT (1996)

Tribunal

Mr. Eduardo Siqueiros T. (President), Ms. Sandra González, Prof. Jorge E. Viñuales

Sector

Health insurance and healthcare

Outcome

Pending. The published documents are two procedural orders of 29 June 2026 and do not show any decision on jurisdiction or the merits.

The dispute

Bupa Investments Overseas Limited brought an ICSID claim against the Republic of Chile under the 1996 agreement between the United Kingdom and Chile. According to the case record, the dispute concerns a health insurance and healthcare company. The published documents are procedural only. They do not describe the investment, the measures challenged, the claims or the amounts in dispute. The procedural calendar provides for a Reply on the Merits and Counter-Memorial on Jurisdiction, followed by a Rejoinder on Jurisdiction. This shows that Chile is expected to raise jurisdictional objections together with the merits.

Key holdings

1. The arbitration is governed by the ICSID Arbitration Rules in force as of 1 July 2022. The Tribunal was constituted on 4 May 2026, and the Parties confirmed they had no objection to any member. Procedural Order No. 1, §§ 1.1, 2.1
2. English and Spanish are the procedural languages. The award will be rendered in both languages simultaneously, and both versions are equally authentic. Washington, D.C. is the place of the proceeding. Hearings on jurisdiction and the merits are to be held in person at ICSID and are closed to the public. Procedural Order No. 1, §§ 10.1, 11.1, 11.12, 21.2, 21.6
3. Each Party may request up to 30 documents or categories of documents, using a Redfern Schedule and guided by the IBA Rules 2020. The Tribunal may draw adverse inferences if a Party fails without good cause to produce documents. Procedural Order No. 1, §§ 15.1–15.2, 15.9
4. Chile consents to ICSID publishing the Award and any post-award decisions. The Claimant does not consent. ICSID may therefore publish only excerpts, under Arbitration Rule 62(4). Procedural Order No. 2, ¶¶ 8–9
5. The following will not be published: the written submissions, the supporting documents, and the hearing transcripts and recordings. Information obtained in the arbitration is confidential and may be used only for this proceeding and related proceedings. These obligations last until five years after dispatch of the Award or the final resolution of any post-award proceeding. Procedural Order No. 2, ¶¶ 11–16, 20
6. Either Party may disclose the result of the arbitration and discuss the Award once confidential information has been redacted. The redactions are to be agreed by the Parties, or decided by the Tribunal or ad hoc Committee if they disagree. Procedural Order No. 2, ¶ 21

Procedural history

1. 24 November 2025After registration of the Request for Arbitration, ICSID requests an advance of USD 400,000, to be paid in equal shares.
2. 9 January 2026Sandra González accepts her appointment as arbitrator.
3. 11 February 2026Jorge E. Viñuales accepts his appointment as arbitrator.
4. 4 May 2026The Tribunal is constituted after Eduardo Siqueiros T. accepts his appointment as President.
5. 22 June 2026First session held by video conference.
6. 29 June 2026Procedural Order No. 1 issued, setting out the procedural rules and calendar.
7. 29 June 2026Procedural Order No. 2 issued, on transparency and confidentiality.

Tribunal, counsel and experts

Decided by

• Eduardo Siqueiros T. President
• Sandra González Co-arbitrator
• Jorge E. Viñuales Co-arbitrator

For the claimant

White & Case LLP · Baker McKenzie Ltda.

For the respondent

Ministerio de Relaciones Exteriores, Unidad de Defensa en Controversias Internacionales · Foley Hoag LLP · Fuchs Mufdi Solimano Abogados

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Keywords

• United Kingdom–Chile BIT
• health insurance
• healthcare
• Bupa
• Chile
• ICSID Arbitration Rules 2022
• procedural order
• transparency
• confidentiality
• publication of award
• document production
• Redfern Schedule
• IBA Rules 2020
• jurisdictional objections
• bilingual proceedings

Summary generated with AI from the published documents — refer to the award for the authoritative text.