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Investment Dispute Settlement Navigator

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methodology

About

The UNCTAD Investment Dispute Settlement Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases.

General disclaimer

The Navigator includes information about publicly known IIA-based international investor-State arbitration proceedings. As some proceedings (or certain aspects of proceedings) remain confidential, the information contained in the Navigator cannot be deemed exhaustive.

While every effort is made to keep the information up to date and complete, the material is provided without any guarantees or warranties as to its accuracy or completeness. UNCTAD assumes no responsibility for eventual errors or omissions in these data.

We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Please contact us using the online contact form.

Cases included in the Navigator

A case is included in the Navigator if it is:

  • an international arbitration between an investor and a State;
  • fully or partially based on an IIA, such as a bilateral investment treaty or the investment chapter of a free trade agreement (not included are investor-State disputes that are solely based on contracts or on domestic investment legislation);
  • submitted to arbitration through a notice of arbitration or a request for arbitration, and upon registration of such request if applicable (not included are cases where a disputing party has only notified the other party of the existence of a dispute or signalled its intention to submit a claim, but has not yet commenced the arbitration).

Sources of information and frequency of updating

The information included in the Navigator is collected from publicly available sources. Primary sources (i.e. official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. Secondary sources, such as specialized reporting services and other sources deemed reliable, are used to supplement primary sources and/or obtain case information otherwise unavailable.

The Navigator is updated on a regular, typically biannual, basis. The date of the last update is displayed on the Navigator’s home page.

Methodological notes for the recording of data

Case name

Full case name is recorded as it appears in the official case documents and as it is registered at the administering institution if applicable. If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first claimant followed by the words “and others”.

Short case name is ascribed by UNCTAD. Typically it is the first word of a corporate claimant’s name, an abbreviation of the corporate claimant’s name, or the last name of a natural-person claimant “v.” the short version of the respondent State’s name.

If the Navigator includes more than one case with the exact same name, then “(I)” is added to the case name of the earlier case, and a “(II)”, “(III)”, etc. is added to the name of each subsequent case.

Year of initiation

This is the year in which the notice of arbitration / request for arbitration was submitted by the claimant. For arbitrations brought under the ICSID Convention Arbitration Rules or ICSID Additional Facilities (AF) Rules, the year in which the claim was registered by ICSID is used.

Applicable IIA

This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings.

Arbitral rules

These are the arbitral rules in accordance with which the proceedings are conducted. Proceedings that are not subject to any existing set of arbitral rules, i.e. where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”.

Administering institution

This is the institution that provides administrative support for the arbitral proceedings. When the proceedings are subject to arbitral rules of a certain arbitral institution (e.g. SCC or ICC), the relevant institution administers that case. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. UNCITRAL Arbitration Rules), the parties may request any arbitral institution to administer their case (e.g. PCA). Proceedings may also be conducted without being administered by any institution.

Common abbreviations for administering institutions:

CRCICACairo Regional Centre for International Commercial Arbitration
ICCInternational Chamber of Commerce (International Court of Arbitration)
ICSIDInternational Centre for Settlement of Investment Disputes
LCIALondon Court of International Arbitration
MCCIMoscow Chamber of Commerce and Industry
PCAPermanent Court of Arbitration
SCCStockholm Chamber of Commerce (Arbitration Institute)

Details of investment and summary of the dispute

The details of investment are presented as argued by the claimant, unless otherwise expressly identified by an arbitral tribunal in its decisions or awards.

The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant.

Economic sector and subsector

This refers to the economic sector to which the investment at issue allegedly belongs. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4).

Status/Outcome of original proceedings

This refers to the current status of the original arbitration proceedings.

  • Decided in favour of State: the tribunal dismissed the case for lack of jurisdiction or found that the respondent State has not committed any breach of the applicable IIA.
  • Decided in favour of investor: the tribunal found that the respondent State committed one or more breaches of the applicable IIA and awarded monetary compensation or non-pecuniary relief to the claimant investor.
  • Decided in favour of neither party (liability found but no damages awarded): the arbitral tribunal found that the respondent State committed one or more breaches of the applicable IIA but did not award monetary compensation or non-pecuniary relief to the claimant investor.
  • Settled: the disputing parties settled the case and the arbitral proceedings were discontinued for that reason.
  • Pending: the arbitration proceedings are pending. A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. The case remains pending, for instance, if a State is found to have breached one or more IIA obligations (liability) but no award on damages has been issued yet.
    Notes:
    • The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. In treaty-based cases that are simultaneously contract-based or based on national investment law ("mixed" disputes), a case is deemed concluded (for purposes of the Navigator) if the tribunal dismissed the case on jurisdiction or finds no breach of the IIA, even if it proceeds to adjudicate the contract- or statutory-based claims.
    • Cases in which a final award has been rendered but which are later subject to follow-on (post-award) proceedings (e.g. ICSID annulment proceedings or domestic judicial review), are marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).
  • Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. This includes discontinuance as a result of non-payment of arbitration fees, in order to pursue litigation in another forum, or for any other reason (including for unknown reasons).

Arbitral decisions rendered

These are decisions rendered by an arbitral tribunal. Included are those decisions that concern the substance of the case and affect the final outcome. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. Discontinuance orders and settlement agreements are also recorded if such information is available.

Not included are any other (supplementary) arbitral decisions, e.g. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. Similarly, procedural orders issued by arbitral tribunals are not included. To access a full list of documentation available with respect to a case, users are invited to use (i) the link to the case page on http://italaw.com, and/or (ii) links to the websites of governments and/or arbitral institutions provided in the “Additional information” section.

Amounts claimed and awarded

Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration.

Amount awarded refers to the amount of monetary compensation awarded by the arbitral tribunal to the claimant, not including interest, legal costs or costs of arbitration.

For proceedings that end in a settlement, the amount of compensation that the State agreed to pay to the claimant under the terms of settlement (if known) is recorded in this section.

Amounts are recorded in the currency used by the claimant/tribunal. The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list.

To enable comparisons between cases, all amounts are also converted to US dollars. For the purposes of such conversion, the OANDA Historical Currency Converter is being used; the date of conversion is the date of the document or other source from which the information was obtained (e.g. the date in which the request for arbitration containing this amount was submitted or the date of the final award).

Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. Otherwise, it is derived from other publicly available sources that are deemed reliable. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided.

If the claimant provides more than one valuation of damages claimed, the highest of these amounts is recorded.

IIA breaches alleged and found

Information about breaches alleged is primarily derived from the claimant’s request of arbitration, claimant’s memorials and/or arbitral decisions. When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable.

Information about breaches found is primarily derived from the arbitral decisions. When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable.

Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. Whenever a claimant or the tribunal refer to “expropriation”, without distinguishing between “direct” or “indirect”, such distinction is made on the basis of the factual background of the case and the context of the claimant’s claims and tribunal’s findings.

Composition of tribunal

These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators).

The disputing party (i.e. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. both types of appointment are recorded under “Appointed by / designated to Respondent” without further distinction).

In case an arbitrator has been replaced by another individual (e.g. as a result of resignation, disqualification or passing away), the names of both the previous and subsequent arbitrator are recorded.

Follow-on (post-award) proceedings

Follow-on (post-award) proceedings include three types of legal proceedings:

  • ICSID annulment proceedings;
  • Judicial review by national courts (set-aside proceedings); and
  • ICSID resubmission proceedings.

Initiation of a follow-on proceeding by either disputing party does not affect the field “Case Status/Outcome” of the original proceeding, until the follow-on proceeding is completed. For example, in a case where a final award has been rendered but it is later subject to a follow-on proceeding (e.g. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).

Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded.

The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded.

Link to Italaw’s case page

The Italaw.com portal offers a wide collection of case documentation for many investor-State disputes. It makes available not only the main arbitral decisions, but also procedural orders, parties’ submissions, expert opinions and other types of documents.

A link to the relevant case page at http://italaw.com is provided where such page is available, so that users could browse all documents relating to the case at hand.

Additional information

This section provides links to sources of information used for gathering data for the case at hand or otherwise relevant to that case. These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources.

Number of cases as respondent State
1 60
Updated as of 31 December 2017

Spain - as home State

Clear selection
Loaded 44 out of 44 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2017 Gas Natural v. Colombia Gas Natural Fenosa v. Republic of Colombia Colombia - Spain BIT (2005) UNCITRAL None Investment: Majority shareholding (85 per cent) in Electricaribe, a local electricity provider.

Summary: Claims arising out of the Government’s decision to seize and liquidate Electricaribe and other alleged actions, such as the harassment of the investor and its employees.
Majority shareholding (85 per cent) in Electricaribe, a local electricity provider. Pending Colombia Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 1000.00 mln USD Data not available Data not available Pending None None None None None None None
2 2017 Lidercón v. Peru Lidercón, S.L. v. Republic of Peru (ICSID Case No. ARB/17/9) Peru - Spain BIT (1994) ICSID ICSID Investment: Concession contract with the municipality of Lima for the operation of vehicle inspection centres.

Summary: Claims arising out of a municipality’s alleged non-compliance with a concession contract that grants the claimant an exclusive right to operate vehicle inspection centres in Lima.
Concession contract with the municipality of Lima for the operation of vehicle inspection centres. Pending Peru Spain Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 45 - Wholesale and retail trade and repair of motor vehicles and motorcycles Paulsson, J. - President

Gonzalez de Cossio, F. - Claimant

Perezcano Diaz, H. - Respondent
300.00 mln USD Data not available Data not available Pending None None None None None None None
3 2017 OHL and others v. Kuwait Obrascón Huarte Lain S.A., Rizzani de Eccher S.p.A. and Trevi S.p.A. v. State of Kuwait (ICSID Case No. ARB/17/8) Italy - Kuwait BIT (1987)

Kuwait - Spain BIT (2005)
ICSID ICSID Investment: Investment in a highway construction project.

Summary:
Investment in a highway construction project. Pending Kuwait Spain

Italy
Tertiary: F - Construction 42 - Civil engineering Alexandrov, S. A. - Claimant

Douglas, Z. - Respondent

Bull, C. - President
Data not available Data not available Data not available Pending None None None None None None None
4 2017 Ortiz v. Algeria Ortiz Construcciones y Proyectos S.A. v. People's Democratic Republic of Algeria (ICSID Case No. ARB/17/1) Algeria - Spain BIT (1994) ICSID ICSID Investment: Investment in a housing construction project.

Summary:
Investment in a housing construction project. Pending Algeria Spain Tertiary: F - Construction 41 - Construction of buildings Lévy, L. - President

Fortier, L. Y. - Claimant

Hanotiau, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
5 2017 Pey Casado and others v. Chile Victor Pey Casado, Coral Pey Grebe and President Allende Foundation v. Republic of Chile (PCA Case No. 2017-30) Chile - Spain BIT (1991) UNCITRAL PCA Investment: Ownership of the Chilean newspaper enterprises Consorcio Publicitario y Periódico S.A. (CPP) and Empresa Periodística Clarín Ltda. (EPC).

Summary: Claims arising out of the State’s actions following a 2008 judgment of the Santiago court in relation to the confiscation of the Goss printing press, as well as the alleged lack of remedy for the claimants’ deprivation of their property rights in the Chilean newspaper El Clarín.
Ownership of the Chilean newspaper enterprises Consorcio Publicitario y Periódico S.A. (CPP) and Empresa Periodística Clarín Ltda. (EPC). Pending Chile Spain Tertiary: J - Information and communication 58 - Publishing activities Ruiz Fabri, H. - Claimant

Drymer, S. L. - Respondent

Hanotiau, B. - President
338.30 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Pending None None None None None None None
6 2016 Agroinsumos Ibero-Americanos and others v. Venezuela Agroinsumos Ibero-Americanos, S.L., Inica Latinoamericana, S.L., Proyefa Internacional, S.L., Verica Atlántica, S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/16/23) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Majority shareholding in agriculture and food enterprises: Agroisleña, C.A., Sucesora de Enrique Fraga Afonso, Insecticidas Internacionales, C.A., Proyefa, C.A., and Venezolana de Riego, C.A.

Summary: Claims arising out of the Governmental Decree No. 7.700 of 2010 that nationalized all assets of the Agroisleña Group and of associated agriculture and food companies in which the claimants held majority interests. The Government allegedly ordered a series of additional judicial and administrative measures to take control over the companies, including the occupation of company premises, removal of the management boards and appointment of new directors.
Majority shareholding in agriculture and food enterprises: Agroisleña, C.A., Sucesora de Enrique Fraga Afonso, Insecticidas Internacionales, C.A., Proyefa, C.A., and Venezolana de Riego, C.A. Pending Venezuela, Bolivarian Republic of Spain Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Zuleta, E. - President

Grigera Naón, H. A. - Claimant

Bottini, G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
7 2016 Albacora v. Ecuador Albacora S.A. v. Republic of Ecuador (PCA Case No. 2016-11) Ecuador - Spain BIT (1996) UNCITRAL PCA Investment:

Summary: Claims arising out of the Government’s alleged denial of certain tax exemptions to which the claimant considered its company to be entitled as a user of the free economic zone of Posorja (Zona Franca de Posorja) in the Guayas province of Ecuador.
Pending Ecuador Spain Primary: A - Agriculture, forestry and fishing

Secondary: C - Manufacturing
3 - Fishing and aquaculture

10 - Manufacture of food products
Anzola, J. E. - President

Nunes Pinto, J. E. - Claimant

Malintoppi, L. - Respondent
20.00 mln USD Data not available Data not available Pending None None None None None None None
8 2016 García Armas v. Venezuela Luis García Armas v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/16/1) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID AF ICSID Investment:

Summary: Claims arising out of the alleged expropriation of the claimant's investments in a food products enterprise.
Pending Venezuela, Bolivarian Republic of Spain Secondary: C - Manufacturing 10 - Manufacture of food products Nunes Pinto, J. E. - President

Gómez-Pinzón, E. - Claimant

Torres Bernárdez, S. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
9 2015 Abertis v. Argentina Abertis Infraestructuras, S.A. v. Argentine Republic (ICSID Case No. ARB/15/48) Argentina - Spain BIT (1991) ICSID ICSID Investment: Shareholdings in two companies, Grupo Concesionario del Oeste (“GCO”, 48.6 per cent) and Autopista del Sol S.A. (“Ausol”, 31.6 per cent), that hold toll highway concessions.

Summary: Claims arising out of the Government’s decision to freeze tools for highways in 2003, which allegedly adversely affected the economic balance of the concession contracts held by GCO and Ausol.
Shareholdings in two companies, Grupo Concesionario del Oeste (“GCO”, 48.6 per cent) and Autopista del Sol S.A. (“Ausol”, 31.6 per cent), that hold toll highway concessions. Pending Argentina Spain Tertiary: F - Construction 42 - Civil engineering Oreamuno Blanco, R. - President

Debevoise, E. W. - Claimant

Valencia-Ospina, E. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
10 2015 Clorox v. Venezuela Clorox Spain S.L. v. Bolivarian Republic of Venezuela Spain - Venezuela, Bolivarian Republic of BIT (1995) UNCITRAL PCA Investment: Ownership of Corporación Clorox de Venezuela S.A. (“Clorox Venezuela”), a local company engaged in manufacturing of cleaning products.

Summary: Claims arising out of Government measures that allegedly forced Clorox Venezuela to discontinue its operations in the country, and the alleged expropriation of its production facilities and offices after Clorox had announced its plans to exit the country and to sell its assets.
Ownership of Corporación Clorox de Venezuela S.A. (“Clorox Venezuela”), a local company engaged in manufacturing of cleaning products. Pending Venezuela, Bolivarian Republic of Spain Secondary: C - Manufacturing 20 - Manufacture of chemicals and chemical products Derains, Y. - President

Hanotiau, B. - Claimant

Vinuesa, R. E. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
11 2015 García Armas and others v. Venezuela Domingo García Armas, Manuel García Armas, Pedro García Armas and others v. Bolivarian Republic of Venezuela Spain - Venezuela, Bolivarian Republic of BIT (1995) UNCITRAL PCA Investment:

Summary:
Pending Venezuela, Bolivarian Republic of Spain Data not available Data not available Nunes Pinto, J. E. - President

Gómez-Pinzón, E. - Claimant

Torres Bernárdez, S. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
12 2015 GLP v. Ecuador Consorcio GLP Ecuador v. Republic of Ecuador Ecuador - Spain BIT (1996) UNCITRAL Data not available Investment: Contract with the Ecuadorian state-owned oil and gas transport company Flopec for the construction of storage spheres for liquefied petroleum gas at a terminal at the Ecuadorean port of Monteverde.

Summary: Claims arising out of government resolutions that declared the claimant in default of its obligations under a construction contract.
Contract with the Ecuadorian state-owned oil and gas transport company Flopec for the construction of storage spheres for liquefied petroleum gas at a terminal at the Ecuadorean port of Monteverde. Pending Ecuador Spain Tertiary: F - Construction 42 - Civil engineering Data not available 50.00 mln USD Data not available Data not available Pending None None None None None None None
13 2014 Iberdrola v. Bolivia Iberdrola, S.A. and Iberdrola Energía, S.A.U. v. Plurinational State of Bolivia Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL PCA Investment: Shareholding of 63.4 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER).

Summary: Claims arising out of Bolivia’s Supreme Decree No. 1448 of 2012, which ordered the nationalization of claimants’ (indirectly-held) shares in four electricity companies.
Shareholding of 63.4 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER). Settled Bolivia, Plurinational State of Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sepúlveda Amor, B. - President

García-Valdecasas, R. - Claimant

Bottini, G. - Respondent
Data not available 34.18 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability None None None None None None None
14 2014 Red Eléctrica v. Bolivia Red Eléctrica Internacional S.A.U. v. Plurinational State of Bolivia Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL Data not available Investment: Ownership and control (99 per cent shareholding) of Transportadora de Electricidad S.A. (TDE), a Bolivian electricity company.

Summary: Claims arising out of the Government's issuance of Supreme Decree No. 1214 that seized and nationalized an electricity transmission company controlled by the claimant.
Ownership and control (99 per cent shareholding) of Transportadora de Electricidad S.A. (TDE), a Bolivian electricity company. Settled Bolivia, Plurinational State of Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted 200.00 mln USD 36.50 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 13 November 2014 None None None None None None
15 2014 Unión Fenosa Gas v. Egypt Unión Fenosa Gas, S.A. v. Arab Republic of Egypt (ICSID Case No. ARB/14/4) Egypt - Spain BIT (1992) ICSID ICSID Investment: Majority shareholding (80 per cent) in SEGAS, an Egyptian company that operated the Damietta liquefied natural gas plant in the port of Damietta.

Summary: Claims arising out of the alleged suspension of gas supplies by the Government to a liquefied natural gas plant operated by the claimant, which caused the plant to be inoperative for over a year.
Majority shareholding (80 per cent) in SEGAS, an Egyptian company that operated the Damietta liquefied natural gas plant in the port of Damietta. Pending Egypt Spain Primary: B - Mining and quarrying 9 - Mining support service activities Veeder, V. V. - President

Rowley, J. W. - Claimant

Clodfelter, M. A. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
16 2013 Cementos La Union v. Egypt Cementos La Union S.A. and Aridos Jativa S.L.U v. Arab Republic of Egypt (ICSID Case No. ARB/13/29) Egypt - Spain BIT (1992) ICSID ICSID Investment: Majority shareholding (60 per cent) in the cement manufacturing company Arabian Cement Company that had concluded the construction of a cement production facility in Suez.

Summary: Claims arising out of the alleged overpricing by the Government of an operating license for a cement manufacturing plant, and the application of an allegedly uncommon system of granting the licenses through tenders.
Majority shareholding (60 per cent) in the cement manufacturing company Arabian Cement Company that had concluded the construction of a cement production facility in Suez. Pending Egypt Spain Secondary: C - Manufacturing 23 - Manufacture of other non-metallic mineral products Söderlund, C. - President

Brower, C. N. - Claimant

Sands, P. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
17 2013 Cemusa v. Mexico Cemusa - Corporación Europea de Mobiliario Urbano, S.A. and Corporación Americana de Equipamientos Urbanos, S.L. v. United Mexican States (ICSID Case No. ARB(AF)/13/2) Mexico - Spain BIT (2006) ICSID AF ICSID Investment: Rights under a concession held by claimants' locally-incorporated company Eumex to provide the city of Guadalajara with bus stops and other street furniture containing advertising space.

Summary: Claims arising out of the annulment of claimants' street furnishing concession by an administrative court in the Mexican state of Jalisco and its transfer to another street furnishing company, allegedly in contravention of claimants' rights under the concession.
Rights under a concession held by claimants' locally-incorporated company Eumex to provide the city of Guadalajara with bus stops and other street furniture containing advertising space. Discontinued Mexico Spain Tertiary: M - Professional, scientific and technical activities 73 - Advertising and market research Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Acting Secretary-General dated 18 August 2014, pursuant to Article 51 of the Arbitration (Additional Facility) Rules None None None None None None
18 2013 Exeteco v. Peru Exeteco International Company S.L. v. Republic of Peru Peru - Spain BIT (1994) UNCITRAL Data not available Investment: Concession for the construction and management of a prison.

Summary: Claims arising out of cancellation of a concession to construct and manage a private prison that had been granted to a group of enterprises which included the claimant.
Concession for the construction and management of a prison. Pending Peru Spain Tertiary: F - Construction 41 - Construction of buildings Derains, Y. - President

Perezcano Diaz, H. - Unknown

Martinez, S. L. - Unknown
Data not available Data not available Data not available Pending None None None None None None None
19 2013 Valores Mundiales and Consorcio Andino v. Venezuela Valores Mundiales, S.L. and Consorcio Andino S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/13/11) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Ownership of two local cornflour and tortillas production companies, Monaca and Demaseca.

Summary: Claims arising out of the Government's issuance of a decree that expropriated claimants' tortilla and corn flour production businesses in Venezuela.
Ownership of two local cornflour and tortillas production companies, Monaca and Demaseca. Decided in favour of investor Venezuela, Bolivarian Republic of Spain Secondary: C - Manufacturing 10 - Manufacture of food products Zuleta, E. - President

Grigera Naón, H. A. - Claimant

Derains, Y. - Respondent
Data not available 430.40 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Transfer of funds

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Transfer of funds
Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 1 October 2014

Award dated 25 July 2017
None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Radicati di Brozolo, L. - President

Jiménez Figueres, D. - Member

De Quadros, F. - Member
20 2012 García Armas and García Gruber v. Venezuela Serafín García Armas and Karina García Gruber v. The Bolivarian Republic of Venezuela (PCA Case No. 2013-3) Spain - Venezuela, Bolivarian Republic of BIT (1995) UNCITRAL PCA Investment: Shareholding in the Venezuelan food companies Alimentos Frisa, C.A. and Transporte Dole, C.A.

Summary: Claims arising out of the alleged expropriation of claimants' investments in two Venezuelan companies engaged in food distribution and marketing.
Shareholding in the Venezuelan food companies Alimentos Frisa, C.A. and Transporte Dole, C.A. Pending Venezuela, Bolivarian Republic of Spain Secondary: C - Manufacturing 10 - Manufacture of food products Grebler, E. - President

Tawil, G. S. - Claimant

Oreamuno Blanco, R. - Respondent
Data not available Data not available Direct expropriation

Transfer of funds
Pending Decision on Jurisdiction dated 15 December 2014 Dissenting Opinion of the arbitrator R. Oreamuno Blanco on one aspect of the basis for the decision (Decision on Jurisdiction) Judicial review by national courts Award/decision partially set aside (Judicial review by national courts) Decision of the Paris Court of Appeal dated 25 April 2017 (Judicial review by national courts) None None
21 2012 Grupo Francisco v. Equatorial Guinea Grupo Francisco Hernando Contreras v. Republic of Equatorial Guinea (ICSID Case No. ARB(AF)/12/2) Equatorial Guinea - Spain BIT (2003) ICSID AF ICSID Investment: Rights under an agreement for the construction of housing and sports facilities in Malabo.

Summary: Claims arising out of the termination of a project for the construction of housing and sports facilities in Equatorial Guinea.
Rights under an agreement for the construction of housing and sports facilities in Malabo. Decided in favour of State Equatorial Guinea Spain Tertiary: F - Construction 41 - Construction of buildings Sepúlveda Amor, B. - President

Orrego Vicuña, F. - Claimant

Vinuesa, R. E. - Respondent
450.00 mln EUR (600.00 mln USD) Data not available Data not available None - jurisdiction declined Award dated 4 December 2015 Dissenting Opinion None None None None None
22 2012 Isolux v. Peru Isolux Corsán Concesiones S.A. v. Republic of Peru, ICSID Case No. ARB/12/5 Peru - Spain BIT (1994) ICSID ICSID Investment: Rights under two concession agreements to build an electrical transmission line in Peru.

Summary: Claims arising out of the modification of tender rules by Peru concerning the construction of an electrical transmission line allegedly designed to prevent further participation by the claimant after it had initially qualified, by requiring Isolux a higher bank guarantee as opposed to that required from other bidders.
Rights under two concession agreements to build an electrical transmission line in Peru. Settled Peru Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Perezcano Diaz, H. - President

Mourre, A. - Claimant

Grigera Naón, H. A. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Award embodying the parties' settlement agreement dated 25 March 2014 None None None None None None
23 2012 Repsol v. Argentina Repsol, S.A. and Repsol Butano, S.A. v. Argentine Republic (ICSID Case No. ARB/12/38) Argentina - Spain BIT (1991) ICSID ICSID Investment: Majority shareholding in the Argentinean oil company YPF.

Summary: Claims arising out of the issuance of Law no. 660/2012 and decree 660/2010 that expropriated Repsol's 51 per cent shareholding in an Argentinean oil company.
Majority shareholding in the Argentinean oil company YPF. Settled Argentina Spain Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas von Wobeser, C. - President

Orrego Vicuña, F. - Claimant

Stern, B. - Respondent
10500.00 mln USD 5000.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 20 March 2014

Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 19 May 2014, pursuant to ICSID Arbitration Rule 44
None None None None None None
24 2012 Supervision v. Costa Rica Supervision y Control S.A. v. Republic of Costa Rica (ICSID Case No. ARB/12/4) Costa Rica - Spain BIT (1997) ICSID ICSID Investment: Shareholding in a Costa Rican joint venture, Riteve SyC, that held rights under a 10-year concession agreement to build and operate motor vehicle inspection facilities in Costa Rica.

Summary: Claims arising out of the decision by Costa Rica’s ministry of public works and transport not to effect annual increases to the rates for vehicle inspection services as allegedly required by the concession agreement at issue.
Shareholding in a Costa Rican joint venture, Riteve SyC, that held rights under a 10-year concession agreement to build and operate motor vehicle inspection facilities in Costa Rica. Decided in favour of State Costa Rica Spain Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities von Wobeser, C. - President

Klock, J. P. - Claimant

Silva Romero, E. - Respondent
297.90 mln EUR (317.50 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

National treatment

Most-favoured nation treatment

Umbrella clause

Indirect expropriation
None - jurisdiction declined Award dated 18 January 2017 Dissenting Opinion of Joseph P. Klock None None None None None
25 2012 Telefónica v. Mexico Telefónica S.A. v. United Mexican States (ICSID Case No. ARB(AF)/12/4) Mexico - Spain BIT (2006) ICSID AF ICSID Investment: Ownership of seven Mexican telecommunications subsidiaries, including their assets, contracts, concessions, permits and authorizations.

Summary: Claims arising out a series of measures adopted by Mexican authorities allegedly aimed at settling disagreements among telecommunications operators in the country, including the issuance of a resolution by the regulatory authority Cofetel requiring all telecoms operators to reduce their interconnection tariffs.
Ownership of seven Mexican telecommunications subsidiaries, including their assets, contracts, concessions, permits and authorizations. Pending Mexico Spain Tertiary: J - Information and communication 61 - Telecommunications Zuleta, E. - President

Grigera Naón, H. A. - Claimant

Ramírez Hernández, R. - Respondent
14737.00 mln MXN (1060.00 mln USD) Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

National treatment

Most-favoured nation treatment

Transfer of funds

Other
Pending None None None None None None None
26 2012 Ternium v. Venezuela Ternium S.A. and Consorcio Siderurgia Amazonia S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/19) BLEU (Belgium-Luxembourg Economic Union) - Venezuela, Bolivarian Republic of BIT (1998)

Spain - Venezuela, Bolivarian Republic of BIT (1995)
ICSID ICSID Investment: Majority shareholding in Sidor, a Venezuelan steel manufacturing plant.

Summary: Claims arising out of an alleged outstanding amount of compensation owed under certain settlement agreement for the nationalization of claimants' stake in a Venezuelan steel production company.
Majority shareholding in Sidor, a Venezuelan steel manufacturing plant. Discontinued Venezuela, Bolivarian Republic of Spain

Luxembourg
Secondary: C - Manufacturing 24 - Manufacture of basic metals Tribunal not constituted 130.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Secretary-General dated 29 November 2012, pursuant to ICSID Arbitration Rule 44 None None None None None None
27 2012 Valle Verde v. Venezuela Valle Verde Sociedad Financiera S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/18) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Shareholding in a Venezuelan lending and savings bank.

Summary: Claims arising out of the expropriation of Casa Propia Entidad de Ahorro y Préstamo, a Venezuelan financial institution in which the claimant had invested, due to alleged illegal banking practices.
Shareholding in a Venezuelan lending and savings bank. Pending Venezuela, Bolivarian Republic of Spain Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Barros Bourie, E. - President

Ferrari, F. - Claimant

Vinuesa, R. E. - Respondent
100.00 mln USD Data not available Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause
Pending Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 8 August 2014 None None None None None None
28 2011 Abertis v. Bolivia Abertis Infraestructuras S.A. v. Government of Bolivia (PCA Case No. 2011-14) Bolivia, Plurinational State of - Spain BIT (2001) UNCITRAL PCA Investment: Controlling interest in three Bolivian airports (Santa Cruz, La Paz and Cochabamba) through a concession company in which claimant held a 90 per cent shareholding; related capital contributions.

Summary: Claims arising out of allegations that Bolivia breached the regime applicable to tariffs for boarding and landing services under certain airport concession agreement since it froze these tariffs in 2003 and later reduced them in 2005. The Government later nationalized SABSA, claimant's airport subsidiary in Bolivia after the arbitration was initiated and disagreements between the parties on appropriate compensation arose.
Controlling interest in three Bolivian airports (Santa Cruz, La Paz and Cochabamba) through a concession company in which claimant held a 90 per cent shareholding; related capital contributions. Settled Bolivia, Plurinational State of Spain Tertiary: H - Transportation and storage 51 - Air transport Mourre, A. - President (replaced)

Grigera Naón, H. A. - Claimant

Verhoosel, G. - Claimant (replaced)

Oreamuno Blanco, R. - Respondent

Perezcano Diaz, H. - President
85.50 mln USD 23.00 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
29 2011 Gamesa v. Syria Gamesa Eólica, S.L.U. v. Syrian Arab Republic Spain - Syrian Arab Republic BIT (2003) UNCITRAL PCA Investment: Investments in the Qatineh wind farm project near the city of Homs.

Summary: Claims arising out of the Government’s alleged call upon a bank guarantee posted by the claimant in relation to a project to build a wind farm in Syria as part of tender documentation. The claimant won the tender, but has not continued with the project due to the outbreak of civil conflict in Syria, and the subsequent imposition of sanctions by the European Union.
Investments in the Qatineh wind farm project near the city of Homs. Decided in favour of investor Syrian Arab Republic Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Fortier, L. Y. - President

Wallgren-Lindholm, C. - Claimant

Kemicha, F. - Respondent
Data not available 4.70 mln EUR (6.30 mln USD) Data not available Data not available Award dated 5 February 2014 None None None None None None
30 2010 Universal Compression v. Venezuela Universal Compression International Holdings, S.L.U. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/9) Spain - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Natural gas compression services and products to the natural gas Venezuelan industry, including personnel, equipment, tools, materials, and supplies necessary for gas compression.

Summary: Claims arising out of the Government's nationalization of claimant's assets, operations and personnel, including over fifty gas compression and power-generation facilities in Venezuela.
Natural gas compression services and products to the natural gas Venezuelan industry, including personnel, equipment, tools, materials, and supplies necessary for gas compression. Settled Venezuela, Bolivarian Republic of Spain Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Rowley, J. W. - President

Tawil, G. S. - Claimant

Stern, B. - Respondent
1200.00 mln USD 442.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Order of the Tribunal Suspending the Proceeding dated 16 September 2013 None None None None None None
31 2009 Abengoa v. Mexico Abengoa, S.A. y COFIDES, S.A. v. United Mexican States (ICSID Case No. ARB(AF)/09/2) Mexico - Spain BIT (2006) ICSID AF ICSID Investment: Construction of a hazardous waste landfill and treatment plant under authorizations and permits granted to claimants' investment vehicle company by a Mexican municipality.

Summary: Claims arising out of the stalled opening of a hazardous waste landfill and treatment plant built by the claimants in the Mexican state of Hidalgo, due to several alleged acts by the municipality of Zimapán and certain federal authorities, including Mexico's Ministry of the Environment and Natural Resources and the Ministry of the Interior.
Construction of a hazardous waste landfill and treatment plant under authorizations and permits granted to claimants' investment vehicle company by a Mexican municipality. Decided in favour of investor Mexico Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Mourre, A. - President

Fernández-Armesto, J. - Claimant

Siqueiros, E. - Respondent
846.40 mln MXN (70.00 mln USD) 491.80 mln MXN (40.30 mln USD) Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 18 April 2013 None None None None None None
32 2009 Iberdrola Energía v. Guatemala Iberdrola Energía, S.A. v. Republic of Guatemala (ICSID Case No. ARB/09/5) Guatemala - Spain BIT (2002) ICSID ICSID Investment: Majority shareholding and operator of Empresa Eléctrica de Guatemala, a local electricity distribution company that held rights under certain authorization agreement for distribution of electricity in the departments of Guatemala, Sacatepéquez and Escuintla, for a period of 50 years.

Summary: Claims arising out of Guatemala’s electricity regulator decision to set tariffs for the electricity company in which the claimant had investment based on an independently commissioned technical study rather than on a study commissioned by the electricity company, during the process of review and pricing of electricity distribution tariffs for the five-year period 2008-2013.
Majority shareholding and operator of Empresa Eléctrica de Guatemala, a local electricity distribution company that held rights under certain authorization agreement for distribution of electricity in the departments of Guatemala, Sacatepéquez and Escuintla, for a period of 50 years. Decided in favour of State Guatemala Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Zuleta, E. - President

Derains, Y. - Claimant

Oreamuno Blanco, R. - Respondent
188.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 17 August 2012 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on annulment dated 13 January 2015 (ICSID annulment proceedings) None Barros Bourie, E. - President

Bernardini, P. - Member

Shaw, J. L. - Member
33 2009 Teinver and others v. Argentina Autobuses Urbanos del Sur S.A., Teinver S.A. and Transportes de Cercanías S.A. v. Argentine Republic (ICSID Case No. ARB/09/1) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect shareholding in two Argentinean airlines.

Summary: Claims arising out of the Government's alleged re-nationalization and taking of other measures regarding claimants' investments in two Argentine airlines, Aerolíneas Argentinas S.A. and Austral-Cielos del Sur S.A., and subsequent disagreements between the parties as to the remedy due to claimants for the expropriation of their shares in those airlines.
Indirect shareholding in two Argentinean airlines. Decided in favour of investor Argentina Spain Tertiary: H - Transportation and storage 51 - Air transport Buergenthal, T. - President

Álvarez, H. C. - Claimant

Hossain, K. - Respondent
1590.00 mln USD 320.80 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Decision on Jurisdiction dated 21 December 2012

Award dated 21 July 2017
Separate Opinion of Dr. Kamal Hossain (Decision on Jurisdiction)

Dissenting Opinion of Kamal Hossain
ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Mourre, A. - President

Cantuarias Salaverry, F. - Member

Ramírez Hernández, R. - Member
34 2007 Quasar de Valores SICAV and others v. Russia Quasar de Valores SICAV S.A., Orgor de Valores SICAV S.A., GBI 9000 SICAV S.A. and ALOS 34 S.L. v. The Russian Federation (SCC Case No. 24/2007) Russian Federation - Spain BIT (1990) SCC SCC Investment: Ownership of Yukos American Depository Receipts, related to the value of Russian-incorporated Yukos Oil Company.

Summary: Claims arising out of a series of actions undertaken by the respondent against Yukos Oil Company, including arrests, large tax assessments and liens, and the auction of the main Yukos facilities, among others, which allegedly led to the bankruptcy of the company and eliminated all value of claimants' American Depository Receipts in Yukos.
Ownership of Yukos American Depository Receipts, related to the value of Russian-incorporated Yukos Oil Company. Decided in favour of investor Russian Federation Spain Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Paulsson, J. - President

Brower, C. N. - Claimant

Landau, T. - Respondent
2.60 mln USD 2.00 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Most-favoured nation treatment
Direct expropriation Award on Preliminary Objections dated 20 March 2009

Award dated 20 July 2012
Separate Opinion of Charles N. Brower (Award on Preliminary Objections) Judicial review by national courts

Judicial review by national courts
Award/decision upheld (Judicial review by national courts)

Award/decision set aside in its entirety (Judicial review by national courts)
Ruling of the Stockholm District Court dated 11 September 2014 (Judicial review by national courts)

Judgment of the Svea Court of Appeal dated 18 January 2016 (Judicial review by national courts)
None None
35 2007 Urbaser and CABB v. Argentina Urbaser S.A. and Consorcio de Aguas Bilbao Biskaia, Bilbao Biskaia Ur Partzuergoa v. Argentine Republic (ICSID Case No. ARB/07/26) Argentina - Spain BIT (1991) ICSID ICSID Investment: Direct and indirect minority shareholding in an Argentinean vehicle company that held a concession for the provision of a drinking water supply and sewerage services in Buenos Aires.

Summary: Claims arising out of Argentina's alleged interference with the tariff regime applicable to claimant's investment and other alleged breaches of obligations under the relevant concession agreement through the enactment of emergency measures during its 2001-2002 economic crisis.
Direct and indirect minority shareholding in an Argentinean vehicle company that held a concession for the provision of a drinking water supply and sewerage services in Buenos Aires. Decided in favour of neither party (liability found but no damages awarded) Argentina Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Bucher, A. - President

Martínez-Fraga, P. J. - Claimant

McLachlan, C. A. - Respondent

Brownlie, I. - Respondent (replaced)
211.20 mln USD 0.00 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 19 December 2012

Award dated 8 December 2016
None None None None None None
36 2006 Técnicas Reunidas v. Ecuador Técnicas Reunidas, S.A. and Eurocontrol, S.A. v. Republic of Ecuador (ICSID Case No. ARB/06/17) Ecuador - Spain BIT (1996) ICSID ICSID Investment: Rights under an oil refinery expansion contract.

Summary: Claims arising out of a contract concluded between Ecuador and two engineering and construction companies to upgrade Ecuador's largest oil refinery in the Esmeraldas province in north-west Ecuador, operated by Petroindustriel, a subsidiary of Ecuador's state-run oil company, Petroecuador.
Rights under an oil refinery expansion contract. Settled Ecuador Spain Tertiary: F - Construction 43 - Specialized construction activities Tribunal not constituted 35.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Acting Secretary-General dated 13 May 2008, pursuant to ICSID Arbitration Rule 44 None None None None None None
37 2004 Vieira v. Chile Sociedad Anónima Eduardo Vieira v. Republic of Chile (ICSID Case No. ARB/04/7) Chile - Spain BIT (1991) ICSID ICSID Investment: Shareholding in local company that had a 'foreign investment contract' with the Chilean government for fishing activities, and that subsequently transferred all its contractual rights as foreign investor to the claimant.

Summary: Claims arising out of Chile's alleged imposition of fishing quota on hake catches off the coast of southern Chile despite earlier licenses that enabled the investor's company to fish in Chilean waters.
Shareholding in local company that had a 'foreign investment contract' with the Chilean government for fishing activities, and that subsequently transferred all its contractual rights as foreign investor to the claimant. Decided in favour of State Chile Spain Primary: A - Agriculture, forestry and fishing 3 - Fishing and aquaculture von Wobeser, C. - President

Czar de Zalduendo, S. B. - Claimant

Reisman, W. M. - Respondent
22.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

National treatment

Most-favoured nation treatment
None - jurisdiction declined Award dated 21 August 2007 Dissenting Opinion of Mrs. Susana Czar de Zalduendo (Award) ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on the Application for Annulment dated 10 December 2010 (ICSID annulment proceedings) None Söderlund, C. - President

Bernardini, P. - Member

Silva Romero, E. - Member
38 2003 Aguas Cordobesas v. Argentina Aguas Cordobesas, S.A., Suez, and Sociedad General de Aguas de Barcelona, S.A. v. Argentine Republic (ICSID Case No. ARB/03/18) Argentina - Spain BIT (1991)

Argentina - France BIT (1991)
ICSID ICSID Investment: Shareholding in company that had been awarded a water services concession for the city of Córdoba.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimants' investments.
Shareholding in company that had been awarded a water services concession for the city of Córdoba. Settled Argentina Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
112.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
39 2003 Gas Natural v. Argentina Gas Natural SDG, S.A. v. Argentine Republic (ICSID Case No. ARB/03/10) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect shareholding in local corporation engaged in the production and distribution of natural gas for the northern parts of the Province of Buenos Aires.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimant's investments.
Indirect shareholding in local corporation engaged in the production and distribution of natural gas for the northern parts of the Province of Buenos Aires. Pending Argentina Spain Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lowenfeld, A. F. - President

Álvarez, H. C. - Claimant

Nikken, P. - Respondent
136.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Pending Decision of the Tribunal on Preliminary Questions on Jurisdiction dated 17 June 2005 None None None None None None
40 2003 Inceysa v. El Salvador Inceysa Vallisoletana S.L. v. Republic of El Salvador (ICSID Case No. ARB/03/26) El Salvador - Spain BIT (1995) ICSID ICSID Investment: Rights under a service contract for installation, management and operation of mechanical inspection stations for vehicles, executed under public bid organized by the Salvadorian Ministry of the Environment and Natural Resources.

Summary: Claims arising out of the decision of El Salvador's Ministry of the Environment and Natural Resources not to proceed with a concession contract for the operation of vehicle inspection services, despite previously awarding the concession to the investor.
Rights under a service contract for installation, management and operation of mechanical inspection stations for vehicles, executed under public bid organized by the Salvadorian Ministry of the Environment and Natural Resources. Decided in favour of State El Salvador Spain Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Oreamuno Blanco, R. - President

Landy, B. A. - Claimant

von Wobeser, C. - Respondent
122.00 mln USD Data not available Indirect expropriation None - jurisdiction declined Award dated 2 August 2006 None None None None None None
41 2003 Suez and Vivendi v. Argentina (II) Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A. (formerly Aguas Argentinas, S.A., Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A.) v. Argentine Republic (II) (ICSID Case No. ARB/03/19) Argentina - France BIT (1991)

Argentina - Spain BIT (1991)
ICSID ICSID Investment: Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including its alleged failure or refusal to apply previously agreed adjustments to the tariff calculation and adjustment mechanisms affecting claimants' investment.
Shareholding in local company that had a concession for water distribution and waste water treatment services in the city of Buenos Aires and some surrounding municipalities. Decided in favour of investor Argentina France

Spain
Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Salacuse, J. W. - President

Kaufmann-Kohler, G. - Claimant

Nikken, P. - Respondent
834.10 mln USD 383.60 mln USD Direct expropriation

Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Liability dated 30 July 2010

Decision on Jurisdiction dated 3 August 2006

Award dated 9 April 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Argentina’s Application for Annulment dated 5 May 2017 (ICSID annulment proceedings) None Sachs, K. - President

Carmichael, T. A. - Member

Oreamuno Blanco, R. - Member
42 2003 Telefónica v. Argentina Telefónica S.A. v. Argentine Republic (ICSID Case No. ARB/03/20) Argentina - Spain BIT (1991) ICSID ICSID Investment: Indirect majority shareholding in local company holding a telecom license.

Summary: Claims arising out of the modification of the investor's licensee tariff regime, as a result of the enactment of Argentina's Emergency Law, whereby the free conversion of the Argentine currency into U.S. dollars was eliminated and previous dollar adjustment clauses and indexation clauses based on foreign price indexes became invalid.
Indirect majority shareholding in local company holding a telecom license. Settled Argentina Spain Tertiary: J - Information and communication 61 - Telecommunications Sacerdoti, G. - President

Brower, C. N. - Claimant

Siqueiros, E. - Respondent
2800.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 25 May 2006

Order taking note of the discontinuance issued by the Tribunal dated 24 September 2009, pursuant to ICSID Arbitration Rule 43(1)
None None None None None None
43 2000 Tecmed v. Mexico Técnicas Medioambientales Tecmed v. United Mexican States (ICSID Case No. ARB(AF)/00/2) Mexico - Spain BIT (1995) ICSID AF ICSID Investment: Majority shareholding in local investment vehicle which acquired land, buildings and other assets through a bid procedure to operate a hazardous waste landfill in Mexico.

Summary: Claims arising out of Mexico's alleged non-renewal of a licence necessary to operate a landfill of hazardous industrial waste.
Majority shareholding in local investment vehicle which acquired land, buildings and other assets through a bid procedure to operate a hazardous waste landfill in Mexico. Decided in favour of investor Mexico Spain Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Grigera Naón, H. A. - President

Fernández Rozas, J. C. - Claimant

Bernal Verea, C. - Respondent

Aguilar Álvarez, G. - Respondent (replaced)
52.00 mln USD 5.50 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Indirect expropriation Award dated 29 May 2003 None None None None None None
44 1998 Pey Casado and Allende Foundation v. Chile Víctor Pey Casado and President Allende Foundation v. Republic of Chile (ICSID Case No. ARB/98/2) Chile - Spain BIT (1991) ICSID ICSID Investment: Majority shareholding in a Chilean newspaper.

Summary: Claims arising out of the confiscation and eventual expropriation in the 1970s of the newspaper El Clarín, of which Victor Pey Casado and the President Allende Foundation claimed ownership.
Majority shareholding in a Chilean newspaper. Decided in favour of investor Chile Spain Tertiary: J - Information and communication 58 - Publishing activities Lalive, P. - President

Rezek, F. - President (replaced)

Chemloul, M. - Claimant

Bedjaoui, M. - Claimant (replaced)

Gaillard, E. - Respondent

Leoro Franco, G. - Respondent (replaced)

Witker Velásquez, J. - Respondent (replaced)
515.00 mln USD 10.00 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Other
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 8 May 2002

Award dated 8 May 2008
None Judicial review by national courts

ICSID annulment proceedings

ICSID resubmission proceedings
Award/decision upheld (Judicial review by national courts)

Award/decision partially annulled (ICSID annulment proceedings)

Neither investor nor the State (liability found but no damages awarded) (ICSID resubmission proceedings)
Resolution of Spanish Court of First Instance dated 6 March 2013 (Judicial review by national courts)

Decision of Spanish Court on Execution of Award dated 4 July 2013 (Judicial review by national courts)

Decision on the Application for Annulment of the Republic of Chile dated 18 December 2012 (ICSID annulment proceedings)

Decision on Admissibility of the Application for Annulment dated 4 May 2010 (ICSID annulment proceedings)

Decision on Chile's Request for a Stay of Enforcement of the Unannulled Portion of the Award dated 16 May 2013 (ICSID annulment proceedings)

Decision on the Republic of Chile's Request for Supplementation of the Annulment Decision dated 11 September 2013 (ICSID annulment proceedings)

Award dated 13 September 2016 (ICSID resubmission proceedings)
None None