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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

Switzerland - as home State

Clear selection
Loaded 27 out of 27 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2017 DCM Energy and others v. Spain DCM Energy GmbH & Co. Solar 1 KG, DCM Energy GmbH & Co. Solar 2 KG, Edisun Power Europe A.G., Hannover Leasing Sun Invest 2 Spanien Beteiligungs GmbH, and Hannover Leasing Sun Invest 2 Spanien GmbH & Co. KG v. Kingdom of Spain (ICSID Case No. ARB/17/41) The Energy Charter Treaty (1994) ICSID ICSID Investment:

Summary:
Pending Spain Germany

Switzerland
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending None None None None None None None
2 2017 Pawlowski and Project Sever v. Czech Republic Pawlowski AG and Project Sever s.r.o. v. Czech Republic (ICSID Case No. ARB/17/11) Czech Republic - Switzerland BIT (1990) ICSID ICSID Investment: Ownership of land acquired for real estate development in Benice, a district in the southeast of Prague.

Summary: Claims arising out of the Government’s alleged frustration of the claimants’ real estate development project through legal proceedings related to a land use plan which had permitted construction on the claimants’ land.
Ownership of land acquired for real estate development in Benice, a district in the southeast of Prague. Pending Czech Republic Switzerland Tertiary: F - Construction 41 - Construction of buildings Beechey, J. - Claimant

Fernández-Armesto, J. - President

Lowe, V. - Respondent
3130.00 mln CZK (131.90 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Indirect expropriation
Pending None None None None None None None
3 2016 Glencore International and C.I. Prodeco v. Colombia Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia (ICSID Case No. ARB/16/6) Colombia - Switzerland BIT (2006) ICSID ICSID Investment: Ownership of Prodeco, a thermal coal producer holding a concession for the Calenturitas mine in Northern Colombia.

Summary: Claims arising out of the Government’s alleged unlawful interference with the coal concession contract, including its initiation of proceedings to challenge the validity of the amendment agreed by the parties in 2010 and imposition of royalties allegedly in excess of what is owed under the contract.
Ownership of Prodeco, a thermal coal producer holding a concession for the Calenturitas mine in Northern Colombia. Pending Colombia Switzerland Primary: B - Mining and quarrying 5 - Mining of coal and lignite Fernández-Armesto, J. - President

Garibaldi, O. M. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2015 OperaFund v. Spain OperaFund Eco-Invest SICAV PLC and Schwab Holding AG v. Kingdom of Spain (ICSID Case No. ARB/15/36) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of energy holdings in the Extremadura region of western Spain.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Ownership of energy holdings in the Extremadura region of western Spain. Pending Spain Malta

Switzerland
Tertiary: D - Electricity, gas, steam and air conditioning supply

Tertiary: H - Transportation and storage
35 - Electricity, gas, steam and air conditioning supply

49 - Land transport and transport via pipelines
Böckstiegel, K.-H. - President

Reinisch, A. - Claimant

Sands, P. - Unknown
Data not available Data not available Data not available Pending None None None None None None None
5 2014 Alpiq v. Romania Alpiq AG v. Romania (ICSID Case No. ARB/14/28) Romania - Switzerland BIT (1993)

The Energy Charter Treaty (1994)
ICSID ICSID Investment: Rights under two electricity generation and distribution contracts concluded between claimant's local subsidiaries and a Romanian State-owned entity.

Summary: Claims arising out of the Government's cancellation of two long-term energy delivery contracts concluded between claimant's local subsidiaries, Alpiq RomIndustries and Alpiq RomEnergie, and Romania’s state-owned electricity utility Hidroelectrica, after the latter was declared insolvent.
Rights under two electricity generation and distribution contracts concluded between claimant's local subsidiaries and a Romanian State-owned entity. Pending Romania Switzerland Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sachs, K. - Claimant

Clodfelter, M. A. - Respondent

Silva Romero, E. - President
100.00 mln EUR (125.30 mln USD) Data not available Data not available Pending None None None None None None None
6 2014 R.S.E. Holdings v. Latvia R.S.E. Holdings AG v. Latvia Latvia - Switzerland BIT (1992) Ad hoc Data not available Investment: Data not available

Summary: Claims arising out the alleged mistreatment of the claimant relating to the takeover of a Latvian bank, Parex Bank, and its subsequent division into two successor institutions.
Data not available Discontinued Latvia Switzerland Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Hanefeld, I. - President

Ferrari, F. - Claimant

Joubin-Bret, A. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
7 2013 Bryn Services v. Latvia Bryn Services Ltd. v. Latvia Latvia - Switzerland BIT (1992) Ad hoc None Investment: Deposit in a Latvian bank Latvijas Krājbanka.

Summary: Claims arising out of the takeover of a Latvian bank, Latvijas Krājbanka, by the State, and the claimant's inability to access its funds deposited in that bank.
Deposit in a Latvian bank Latvijas Krājbanka. Settled Latvia Switzerland Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Caron, D. D. - President

Roney, D. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
8 2013 Cervin and Rhone v. Costa Rica Cervin Investissements S.A. and Rhone Investissements S.A. v. Republic of Costa Rica (ICSID Case No. ARB/13/2) Costa Rica - Switzerland BIT (2000) ICSID ICSID Investment: Ownership of the Costa Rican company Gas Nacional Zeta S.A. that held gas concession agreements.

Summary: Claims arising out of a series of regulatory changes by the Government concerning liquid petroleum gas (LPG) sales, including tariff adjustments and the filling of canisters in which gas is sold, that had an alleged negative impact on claimants' gas distribution business.
Ownership of the Costa Rican company Gas Nacional Zeta S.A. that held gas concession agreements. Decided in favour of neither party (liability found but no damages awarded) Costa Rica Switzerland Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Mourre, A. - President

Ramírez Hernández, R. - Claimant

Jana Linetzky, A. - Respondent
40632.00 mln CRC (75.00 mln USD) 0.00 mln USD 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
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Jurisdiction dated 15 December 2014

Award dated 7 March 2017
Dissenting Opinion of Ricardo Ramírez Hernández (Decision on Jurisdiction)

Separate Opinion Regarding Costs by Ricardo Ramírez Hernández
None None None None None
9 2012 Emmis v. Hungary Emmis International Holding, B.V., Emmis Radio Operating, B.V., MEM Magyar Electronic Media Kereskedelmi és Szolgáltató Kft. v. Hungary (ICSID Case No. ARB/12/2) Hungary - Netherlands BIT (1987)

Hungary - Switzerland BIT (1988)
ICSID ICSID Investment: Shareholding in a Hungarian company that won a competitive tender for one of the two licenses for FM national radio-broadcasting frequencies in Hungary.

Summary: Claims arising out of the alleged expropriation of claimants' investments in nationwide FM-frequency radio-broadcasting licenses in Hungary, through the Government's decision to award the radio-broadcasting frequencies formerly held by claimants to a third party.
Shareholding in a Hungarian company that won a competitive tender for one of the two licenses for FM national radio-broadcasting frequencies in Hungary. Decided in favour of State Hungary Netherlands

Switzerland
Tertiary: J - Information and communication 60 - Programming and broadcasting activities McLachlan, C. A. - President

Lalonde, M. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Indirect expropriation

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

Umbrella clause

National treatment

Customary rules of international law

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Decision on Respondent’s Objection Under ICSID Arbitration Rule 41(5) dated 11 March 2013

Decision on Respondent's Application for Bifurcation dated 13 June 2013

Award dated 16 April 2014
None None None None None None
10 2011 Koch Minerals v. Venezuela Koch Minerals Sàrl and Koch Nitrogen International Sàrl v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/19) Switzerland - Venezuela, Bolivarian Republic of BIT (1993) ICSID ICSID Investment: Minority shareholding in a Venezuelan fertilizer company.

Summary: Claims arising out of the Government's nationalization of Koch Mineral’s interest in Fertilizantes Nitrogenados de Venezuela (FertiNitro), a nitrogen-based fertilizer producer, Koch Nitrogen's alleged loss of rights under an associated long-term agreement for the purchase of ammonia and urea produced at the Fertinitro plant, and certain laws and regulations in effect prior to the nationalization.
Minority shareholding in a Venezuelan fertilizer company. Decided in favour of investor Venezuela, Bolivarian Republic of Switzerland Secondary: C - Manufacturing 20 - Manufacture of chemicals and chemical products Veeder, V. V. - President

Lalonde, M. - Claimant

Feliciano, F. P. - Respondent (replaced)

Douglas, Z. - Respondent
672.40 mln USD 325.10 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

National treatment

Umbrella clause

Indirect expropriation
Indirect expropriation Award dated 30 October 2017 Partially Dissenting Opinion of Zachary Douglas None None None None None
11 2010 Border Timbers and others v. Zimbabwe Border Timbers Limited, Timber Products International (Private) Limited, and Hangani Development Co. (Private) Limited v. Republic of Zimbabwe (ICSID Case No. ARB/10/25) Switzerland - Zimbabwe BIT (1996) ICSID ICSID Investment: Shareholding in Zimbabwean forestry and timber processing enterprises.

Summary: Claims arising out of the Government's compulsory acquisition of claimants' farms and forestry plantations following Zimbabwe's land reform, the alleged expropriation of foreign exchange from claimants' bank accounts and the State's alleged failure to prevent invasions to the forestry plantations by illegal squatters.
Shareholding in Zimbabwean forestry and timber processing enterprises. Decided in favour of investor Zimbabwe Switzerland Primary: A - Agriculture, forestry and fishing 2 - Forestry and logging Fortier, L. Y. - President

Williams, D. A. R. - Claimant

Hwang, M. - Respondent

Chen, A. - Respondent (replaced)

Mutharika, A. P. - Respondent (replaced)
Data not available Data not available Direct expropriation

Indirect expropriation

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

Full protection and security, or similar

Transfer of funds
Data not available Award dated 28 July 2015 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Heiskanen, V. - President

Kalicki, J. E. - Member

Kettani, A. - Member
12 2010 Flughafen Zürich v. Venezuela Flughafen Zürich A.G. and Gestión e Ingenería IDC S.A. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/10/19) Switzerland - Venezuela, Bolivarian Republic of BIT (1993)

Chile - Venezuela, Bolivarian Republic of BIT (1993)
ICSID ICSID Investment: Rights as consortium members to administer, manage and operate the Isla Margarita airport under a contract with the state of Nueva Esparta.

Summary: Claims arising out of the Government's alleged expropriation of claimants' concession to operate an airport on Isla Margarita through three administrative acts undertaken by the government of Nueva Esparta and two resolutions issued by the Supreme Court.
Rights as consortium members to administer, manage and operate the Isla Margarita airport under a contract with the state of Nueva Esparta. Decided in favour of investor Venezuela, Bolivarian Republic of Switzerland

Chile
Tertiary: H - Transportation and storage

Tertiary: H - Transportation and storage
51 - Air transport

52 - Warehousing and support activities for transportation
Fernández-Armesto, J. - President

Álvarez, H. C. - Claimant

Vinuesa, R. E. - Respondent
79.00 mln CHF (82.20 mln USD) 19.40 mln USD Direct expropriation

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

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 18 November 2014 Partial Dissent of Professor Raúl Emilio Vinuesa (Award) ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Castellanos Howell, A. R. - President

Zusman Tinman, S. - Member

Urrutia Valenzuela, C. - Member
13 2010 Philip Morris v. Uruguay Philip Morris Brand Sàrl (Switzerland), Philip Morris Products S.A. (Switzerland) and Abal Hermanos S.A. (Uruguay) v. Oriental Republic of Uruguay (ICSID Case No. ARB/10/7) Switzerland - Uruguay BIT (1988) ICSID ICSID Investment: Immovable and movable property, shares and intellectual property rights, including the ownership of several tobacco trademarks and manufacture facilities of tobacco cigarettes for the Uruguayan market sold under several brand names in accordance to license agreements.

Summary: Claims arising out of the enactment of certain ordinance by the Uruguayan Ministry of Public Health and the enactment of a Presidential decree prohibiting different packaging or presentations for cigarettes sold under a given brand and mandating graphic images purported to illustrate the adverse health effects of smoking.
Immovable and movable property, shares and intellectual property rights, including the ownership of several tobacco trademarks and manufacture facilities of tobacco cigarettes for the Uruguayan market sold under several brand names in accordance to license agreements. Decided in favour of State Uruguay Switzerland Secondary: C - Manufacturing 12 - Manufacture of tobacco products Bernardini, P. - President

Born, G. B. - Claimant

Crawford, J. R. - Respondent
22.30 mln USD Data not available Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Decision on Jurisdiction dated 2 July 2013

Award dated 8 July 2016

Decision on Rectification dated 26 September 2016
Concurring and Dissenting Opinion of Gary Born None None None None None
14 2010 von Pezold and others v. Zimbabwe Bernhard von Pezold and others v. Republic of Zimbabwe (ICSID Case No. ARB/10/15) Germany - Zimbabwe BIT (1995)

Switzerland - Zimbabwe BIT (1996)
ICSID ICSID Investment: Ownership of forestry and agricultural businesses in Zimbabwe engaged in the production of tobacco, timber, tea, coffee and macadamia nuts.

Summary: Claims arising out of the Government's expropriation without compensation of three estates owned by the claimants, including forestry and agricultural businesses, in the context of Zimbabwe's 2000 land reform programme.
Ownership of forestry and agricultural businesses in Zimbabwe engaged in the production of tobacco, timber, tea, coffee and macadamia nuts. Decided in favour of investor Zimbabwe Germany

Switzerland
Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Fortier, L. Y. - President

Williams, D. A. R. - Claimant

Hwang, M. - Respondent

Chen, A. - Respondent (replaced)

Mutharika, A. P. - Respondent (replaced)
Data not available 64.90 mln USD Direct expropriation

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

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

Transfer of funds
Direct 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

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Award dated 28 July 2015 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Heiskanen, V. - President

Kalicki, J. E. - Member

Kettani, A. - Member
15 2009 GEM v. Kazakhstan GEM Equity Management AG v. Republic of Kazakhstan Kazakhstan - Switzerland BIT (1994) UNCITRAL Data not available Investment: Shareholding in the Kazakh entity BTA Bank.

Summary: Claims arising out of the Government's alleged forced nationalization of claimant's interest in BTA Bank, by means of Kazakhstan's acquisition of around 75 per cent of the shares of BTA through the National Welfare Fund Samruk-Kazyna.
Shareholding in the Kazakh entity BTA Bank. Pending Kazakhstan Switzerland Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Data not available 1500.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
16 2009 Holcim v. Venezuela Holcim Limited, Holderfin B.V. and Caricement B.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/09/3) Switzerland - Venezuela, Bolivarian Republic of BIT (1993)

Netherlands - Venezuela, Bolivarian Republic of BIT (1991)
ICSID ICSID Investment: Ownership interests in Venezuelan cement production enterprise.

Summary: Claims arising out of the Government's 2008 nationalization of foreign-owned cement companies in Venezuela, including the claimants, and the alleged cease of compensation negotiations between Holcim and the national oil company PDVSA.
Ownership interests in Venezuelan cement production enterprise. Settled Venezuela, Bolivarian Republic of Netherlands

Switzerland
Secondary: C - Manufacturing 23 - Manufacture of other non-metallic mineral products Fernández-Armesto, J. - President

Brower, C. N. - Claimant

Abi-Saab, G. - Respondent
Data not available 650.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability None None None None None None None
17 2009 Swisslion v. Macedonia Swisslion DOO Skopje v. Macedonia, former Yugoslav Republic of (ICSID Case No. ARB/09/16) Macedonia, The former Yugoslav Republic of - Switzerland BIT (1996) ICSID ICSID Investment: Majority shareholding in a former socially-owned Macedonian company under certain share sale agreement concluded with Macedonia's Ministry of Economy.

Summary: Claims arising out of a share sale agreement concluded between Swisslion and Macedonia under which the investor acquired a controlling stake in Agroplod AD Resen, a Macedonian food production company, and subsequent Government's measures leading to the termination of such agreement and ordering the transfer of claimant's Agropold shares to a State Ministry without compensation.
Majority shareholding in a former socially-owned Macedonian company under certain share sale agreement concluded with Macedonia's Ministry of Economy. Decided in favour of investor Macedonia, The former Yugoslav Republic of Switzerland Secondary: C - Manufacturing 10 - Manufacture of food products Guillaume, G. - President

Price, D. M. - Claimant

Thomas, J. C. - Respondent
21.00 mln EUR (26.00 mln USD) 0.35 mln EUR (0.43 mln USD) Indirect expropriation

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

Umbrella clause

Other
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 6 June 2012 None None None None None None
18 2008 Alps Finance v. Slovakia Alps Finance and Trade AG v. The Slovak Republic Slovakia - Switzerland BIT (1990) UNCITRAL None Investment: Acquisition of certain receivables from a private Slovak company, i.e. sums payable to the assignor by a debtor who at the time of the assignment of the receivables had been declared bankrupt.

Summary: Claims arising out of alleged actions by the Slovak judiciary, particularly the Regional Court of Bratislava, preventing the claimant to enforce certain credits it had acquired towards a Slovak debtor.
Acquisition of certain receivables from a private Slovak company, i.e. sums payable to the assignor by a debtor who at the time of the assignment of the receivables had been declared bankrupt. Decided in favour of State Slovakia Switzerland Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Crivellaro, A. - President

Stuber, H. - Claimant

Klein, B. - Respondent
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
None - jurisdiction declined Award dated 5 March 2011 None None None None None None
19 2008 Intersema Bau v. Libya Intersema Bau AG v. Libya Libya - Switzerland BIT (2003) UNCITRAL Data not available Investment: Several construction contracts with a Libyan municipal authority.

Summary: Claims arising out of the Government’s alleged failure to uphold the terms of a 2005 settlement agreement between the claimant and the Government related to construction contracts for road, water, sewage and lighting infrastructure, including the non-payment of CHF 13 million of the 31 million settlement sum.
Several construction contracts with a Libyan municipal authority. Decided in favour of investor Libya Switzerland Tertiary: F - Construction 42 - Civil engineering Bernardini, P. - President

Heiskanen, V. - Claimant

Poncet, I. - Respondent
140.00 mln CHF (135.40 mln USD) 13.00 mln CHF (12.60 mln USD) Umbrella clause

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

Umbrella clause
Award dated January 2010 None None None None None None
20 2008 Oeconomicus v. Czech Republic Konsortium Oeconomicus v. The Czech Republic Czech Republic - Switzerland BIT (1990) UNCITRAL None Investment: Rights under a loan agreement for the construction of a waste incineration plant in Mlada Boleslav.

Summary: Claims arising out of alleged refusals to honour guarantees made by the Environment Ministry to claimant's investment, including the firm's declaration of bankruptcy and the failure to build a waste incinerator at issue.
Rights under a loan agreement for the construction of a waste incineration plant in Mlada Boleslav. Discontinued Czech Republic Switzerland Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Silva Romero, E. - President

Ueltzhöffer, A. - Claimant

Konrad, S. - Respondent

Marvan, J. - Claimant (replaced)
710.00 mln CZK (31.30 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability Award on Costs dated 8 February 2012

Addendum to the Award on Costs dated 22 February 2012

Decision for Termination of the Proceedings dated 5 December 2011
None None None None None None
21 2007 SGS v. Paraguay SGS Société Générale de Surveillance S.A. v. Republic of Paraguay (ICSID Case No. ARB/07/29) Paraguay - Switzerland BIT (1992) ICSID ICSID Investment: Rights under a pre-shipment inspection contract concluded between SGS and Paraguay's Ministry of Finance.

Summary: Claims arising out of Paraguay's alleged non-payment of invoices to the investor under a pre-shipment inspection contract, followed by the termination of the contract by Paraguay's Ministry of Finance.
Rights under a pre-shipment inspection contract concluded between SGS and Paraguay's Ministry of Finance. Decided in favour of investor Paraguay Switzerland Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Alexandrov, S. A. - President

Donovan, D. - Claimant

García Mexía, P. - Respondent
61.50 mln USD 39.00 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Umbrella clause Decision on Jurisdiction dated 12 February 2010

Award dated 10 February 2012
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Paraguay's Request for the Continued Stay of Enforcement of the Award dated 22 March 2013 (ICSID annulment proceedings)

Decision on Annulment dated 19 May 2014 (ICSID annulment proceedings)
None Oreamuno Blanco, R. - President

Yusuf, A. A. - Member

Zuleta, E. - Member
22 2006 Mensik v. Slovakia Branimir Mensik v. Slovak Republic (ICSID Case No. ARB/06/9) Czech Republic - Switzerland BIT (1990) ICSID ICSID Investment: Data not available

Summary: Claims arising out of respondent's alleged mistreatment concerning a mineral water spring project in which the claimant had invested.
Data not available Discontinued Slovakia Switzerland Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Reisman, W. M. - President

Klein, B. - Claimant

Böckstiegel, K.-H. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding issued by the Tribunal dated 9 December 2008, pursuant to Regulation 14(3)(d) of the ICSID Administrative and Financial Regulations None None None None None None
23 2006 Romak v. Uzbekistan Romak S.A. v. The Republic of Uzbekistan (PCA Case No. AA280) Switzerland - Uzbekistan BIT (1993) UNCITRAL PCA Investment: Claims to money, including rights under certain supply agreement concluded with a State institution with responsibility for cereal production and distribution and an arbitration award.

Summary: Claims arising out of the investor's unsuccessful attempts to enforce an arbitral award rendered under the auspices of the Grain and Feed Trade Association concerning Romak and a Uzbek counterparty for difficulties in obtaining payment of wheat deliveries under a set of contracts (concluded between the investor and several companies specialized in the trading of grain).
Claims to money, including rights under certain supply agreement concluded with a State institution with responsibility for cereal production and distribution and an arbitration award. Decided in favour of State Uzbekistan Switzerland Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Mantilla-Serrano, F. - President

Rubins, N. - Claimant

Molfessis, N. - Respondent
10.00 mln USD Data not available Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures

Other
None - jurisdiction declined Award dated 26 November 2009 None None None None None None
24 2004 Credit Suisse v. India Credit Suisse First Boston v. Republic of India India - Switzerland BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India Switzerland Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
25 2002 SGS v. Philippines SGS Société Générale de Surveillance S.A. v. Republic of the Philippines (ICSID Case No. ARB/02/6) Philippines - Switzerland BIT (1997) ICSID ICSID Investment: Rights under an agreement for the provision of comprehensive import supervision services entered into with the Philippines.

Summary: Claims arising out of alleged breaches of an agreement concluded between the investor, a corporation which provided verification, testing, monitoring and certification services, and the Philippines.
Rights under an agreement for the provision of comprehensive import supervision services entered into with the Philippines. Settled Philippines Switzerland Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities El-Kosheri, A. S. - President

Crivellaro, A. - Claimant

Crawford, J. R. - Respondent
140.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision of the Tribunal on Objections to Jurisdiction dated 29 January 2004

Award embodying the parties' settlement agreement dated 11 April 2008
Declaration of Mr. Antonio Crivellaro (Decision of the Tribunal on Objections to Jurisdiction) None None None None None
26 2001 SGS v. Pakistan SGS Société Générale de Surveillance S.A. v. Islamic Republic of Pakistan (ICSID Case No. ARB/01/13) Pakistan - Switzerland BIT (1995) ICSID ICSID Investment: Rights under a pre-shipment inspection contract entered into with Pakistani authorities.

Summary: Claims arising out of Pakistan's alleged non-payment of invoices to the investor and its attempts to terminate an underlying agreement for the provision of services relating to customs clearance and control processes in Pakistan.
Rights under a pre-shipment inspection contract entered into with Pakistani authorities. Settled Pakistan Switzerland Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Feliciano, F. P. - President

Faures, A. - Claimant

Thomas, J. C. - Respondent

Landau, T. - Respondent (replaced)
112.30 mln USD Data not available Indirect expropriation

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

Umbrella clause
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 6 August 2003

Order taking note of the discontinuance issued by the Tribunal dated 23 May 2004, pursuant to Arbitration Rule 43(1)
None None None None None None
27 1999 Alimenta S.A. v. Gambia Alimenta S.A. v. Republic of The Gambia (ICSID Case No. ARB/99/5) Gambia - Switzerland BIT (1993) ICSID ICSID Investment: Ownership of local groundnut processing plant.

Summary: Claims arising out of the government takeover of claimant's groundnut processing plant at Denton Bridge, which constituted the biggest industrial complex in the country, on allegations of money laundering.
Ownership of local groundnut processing plant. Settled Gambia Switzerland Secondary: C - Manufacturing 10 - Manufacture of food products Brower, C. N. - President

Rokison, K. S. - Claimant

Asante, S. K.B. - Respondent
Data not available 11.20 mln USD Data not available Not applicable - settled or discontinued before decision on liability Order taking note of discontinuance of the proceeding issued by the Arbitral Tribunal dated 3 May 2001, pursuant to Arbitration Rule 43(1) None None None None None None