Investment Definition

ICSID tribunal upholds Panama’s plea of illegality in the making of an investment in a tourism project located in an Indigenous area

ÁLVAREZ Y MARÍN CORPORACIÓN S.A., BARTUS VAN NOORDENNE, CORNELIS WILLEM VAN NOORDENNE, ESTUDIOS TRIBUTARIOS AP S.A. AND STICHTING ADMINISTRATIEKANTOOR ANBADI V. REPUBLIC OF PANAMA, ICSID CASE NO. ARB/15/14

ITN  |  October 18, 2018

Biwater v. Tanzania

Biwater Gauff (Tanzania) Ltd. v. United Republic of Tanzania, ICSID Case No. ARB/05/22 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this […]

ITN  |  October 18, 2018

SGS v. Pakistan

SGS Société Générale de Surveillance S.A. v. Islamic Republic of Pakistan, ICSID Case No. ARB/01/13 (Decision on Objections to Jurisdiction) (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases […]

ITN  |  October 18, 2018

Phoenix v. Czech Republic

Phoenix Action Ltd. v. Czech Republic, ICSID Case No. ARB/06/5 (Originally published in 2011 in International Investment Law and Sustainable Development: Key cases from 2000–2010; republished on this website on October 18, […]

ITN  |  October 18, 2018

SGS v. Philippines

SGS Société Générale de Surveillance S.A. v. Republic of the Philippines, ICSID Case No. ARB/02/6 (Decision on Objections to Jurisdiction and Separate Declaration) (Originally published in 2011 in International Investment Law and Sustainable Development: […]

The 2018 Draft Dutch Model BIT: A critical assessment

In May 2018, the Dutch Ministry of Foreign Affairs published its new draft model bilateral investment treaty (BIT), in hopes to foster rethinking of existing and future Dutch BITs. Will this revised model achieve this goal, or does it fall short of the promised policy reset?

The first ICSID case against Guinea is dismissed for lack of jurisdiction 

In a decision dated December 21, 2015, a tribunal at the International Centre for Settlement of Investment Disputes (ICSID) ruled that it lacked jurisdiction to hear a case brought by Société civile immobilière de Gaëta (Gaëta) against Guinea under the Guinean Investment Code.

The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds

A majority tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) dismissed the case of Spanish construction company Grupo Francisco Hernando Contreras, S.L. (Contreras Group) against Equatorial Guinea, in an award dated December 4, 2015.

The Brazilian Agreement on Cooperation and Facilitation of Investments (ACFI): A New Formula for International Investment Agreements?

Since the signing of the first Agreement on Cooperation and Facilitation of Investments (ACFI) by Brazil, in March 2015, English translations of the document and analyses of its innovative aspects have been published. The hidden question is: to what extent do Brazil’s ACFIs innovate in the regulation of foreign investments?

The Brazil–Mozambique and Brazil–Angola Cooperation and Investment Facilitation Agreements (CIFAs): A Descriptive Overview

Brazil and Mozambique signed on March 30, 2015 the first Cooperation and Investment Facilitation Agreement (CIFA) based on Brazil’s new model bilateral investment treaty (BIT). The second was signed on April 1, 2015 between Brazil and Angola. Unlike traditional BITs, which are geared towards investor protection, the CIFAs focus primarily on cooperation and investment facilitation. They promote amicable ways to settle disputes and propose state–state dispute settlement as a backup; notably, they do not include provisions on investor–state arbitration.

ITN  |  January 14, 2013

Awards and Decisions

US$1.76 billion dollar award levied against Ecuador in dispute with Occidental; tribunal split over damages   Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, […]

ITN  |  April 13, 2012

Awards and Decisions

US court vacates award against Argentina BG Group Plc v. Argentina Lise Johnson A US appellate court has vacated an award against Argentina in a decision that may give investors […]

Defining an ICSID Investment: Why Economic Development Should be the Core Element

A dispute will only fall within the jurisdiction of the International Centre for Settlement of Investment Disputes (ICSID) if it directly arises out of an ‘investment’, as is provided by Article 25(1) of the Convention for the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention). However, not only does the ICSID Convention fail to provide any definition of what constitutes an ‘investment’, the drafters of the ICSID Convention, in fact, made an express decision not to include such a definition. This absence has given rise to interesting issues of interpretation as ICSID tribunals have sought to arrive at an understanding of how the term ‘investment’ should be properly understood for the purposes of the ICSID Convention.

ITN  |  January 12, 2012

Awards and Decisions

Arbitrator sharply critical of majority decision in Italian bondholder claim against Argentina Abaclat and Others (Case formerly known as Giovanna a Beccara and Others) v. Argentine Republic, ICSID Case No. […]

ITN  |  October 7, 2011

Awards and Decisions

Mass claim in Argentine bond dispute is granted ICSID jurisdiction Abaclat and Others (Case formerly known as Giovanna A Beccara and Others) and The Argentine Republic, Decision on Jurisdiction and […]

ITN  |  July 12, 2011

Awards and Decisions

Swiss claimant fails jurisdictional stage for not qualifying as an ‘investor’ Alps Finance and Trade AG v. Slovak Republic Damon Vis-Dunbar A claim against the government of Slovakia has failed […]

ITN  |  April 7, 2011

Awards and decisions

UK firm victorious in dispute with Russia, but damages much less than claimed RosInvestCo UK Ltd.  v. The Russian Federation, SCC Case No. Arb. V079/2005 Lise Johnson In an award […]

ITN  |  December 16, 2010

Awards and decisions

Georgia loses dispute with Greek and Israeli oil investors Ioannis Kardassopoulos and Ron Fuchs v. The Republic of Georgia (ICSID Case Nos. ARB/05/18 and ARB/07/15) Martin D. Brauch Two oil […]

ITN  |  September 23, 2010

Awards and Decisions

Argentina on the hook for breach of Fair and Equitable Treatment Suez, Sociedad General de Aguas de Barcelona S.A., and Vivendi Universal v. Argentine Republic (ICSID Case No. ARB/03/19) Lise […]

ITN  |  November 1, 2009

Cementownia claim against Turkey found to be “manifestly ill-founded”

By Elizabeth Whitsitt November 3, 2009 On September 17, 2009 an ICSID tribunal dismissed yet another claim initiated against the Republic of Turkey by an entity, Cementownia “Nowa Huta” S.A. […]

ITN  |  August 31, 2009

Tribunal dismisses claim by Europe Cement against Turkey; Claimant ordered to bear cost of the arbitration

By Damon Vis-Dunbar 2 September 2009 An ICSID tribunal has rendered a decision after finding itself in the unusual position of facing requests from both the Claimant and Respondent for […]

ITN  |  July 13, 2009

ICSID tribunal accepts Ecuador’s objections to jurisdiction in dispute with electricity firm

By Fernando Cabrera Diaz 15 July 2009 A tribunal at the International Centre for Settlement of Investment Disputes (ICSID) has accepted Ecuador’s objections to jurisdiction in an arbitration commenced by […]

ITN  |  April 23, 2009

Malaysian Historical Salvors jurisdictional award annulled; committee split on question of economic development as criteria of ICSID investments

By Damon Vis-Dunbar 23 April 2009 The members of an ICSID committee hearing an annulment request in Malaysian Historical Salvors v. the Government of Malaysia have come to starkly different […]

ITN  |  January 9, 2009

Tribunal pierces the corporate veil in jurisdictional decision involving Argentina

By Damon Vis-Dunbar 9 January 2009 Two out of three members of an ICSID tribunal have declined jurisdiction in a claim brought by TSA Spectrum de Argentina S.A. (TSA) against […]

Awards  |  September 30, 2008

Plama Consortium Limited v. Republic of Bulgaria: Honesty is the best policy

By Elizabeth Whitsitt 30 September 2008 In a 27 August 2008 decision, a tribunal has concluded that Plama Consortium Limited (PCL), a Cyprus firm, was not entitled to protections afforded […]

ITN  |  August 13, 2008

News in Brief: Tribunal declines jurisdiction in African Holding Company of America, INC et Société Africaine de construction au Congo SARL (SAFRICA) v. République Démocratique du Congo

By Suzy H. Nikièma 13 August 2008 An ICSID tribunal has declined jurisdiction in a dispute over a failed construction contract between the Democratic Republic of Congo (DRC) and two […]