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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

United Kingdom - as home State

Clear selection
Loaded 74 out of 74 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2017 Agarwal and Mehta v. Uruguay Prenay Agarwal, Vinita Agarwal and Ritika Mehta v. Uruguay United Kingdom - Uruguay BIT (1991) UNCITRAL Data not available Investment: Investments in the Valentines iron ore project through Minera Aratirí that held several prospecting and exploration permits, granting it an exclusive right to obtain the exploitation concession for the Valentines project.

Summary: Claims arising out of allegedly arbitrary and non-transparent conduct of the Government in relation to the claimants’ investments in the Valentines iron ore project, including repeated regulatory changes with respect to the port terminal (which had to be built as part of the project), ultimately leading to the project’s shutdown.
Investments in the Valentines iron ore project through Minera Aratirí that held several prospecting and exploration permits, granting it an exclusive right to obtain the exploitation concession for the Valentines project. Pending Uruguay United Kingdom Primary: B - Mining and quarrying 7 - Mining of metal ores Rigo Sureda, A. - President

Johnson, O. T. - Claimant

Mayer, P. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
2 2017 FREIF Eurowind v. Spain FREIF Eurowind v. Kingdom of Spain (SCC Case No. 2017/060) The Energy Charter Treaty (1994) SCC SCC Investment:

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.
Pending Spain United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Jones, D. - President

Hobér, K. - Claimant

Clay, T. - Respondent
53.00 mln EUR (61.60 mln USD) Data not available Data not available Pending None None None None None None None
3 2017 Inicia and others v. Hungary Inicia Zrt, Kintyre Kft and Magyar Farming Company Ltd v. Hungary (ICSID Case No. ARB/17/27) Hungary - United Kingdom BIT (1987) ICSID ICSID Investment: Lease contract with the Government for 500 hectares of agricultural land.

Summary: Claims arising out of the termination by the Government of the claimants’ land lease contract, following the passage of new legislation in 2013 that mandated ending of long-term land lease contracts between foreign investors and the State, with no compensation to affected farmers.
Lease contract with the Government for 500 hectares of agricultural land. Pending Hungary United Kingdom Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Name not available - President

Alexandrov, S. A. - Claimant

Hanefeld, I. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2017 Norvik Banka and others v. Latvia AS Norvik Banka, Alexander Guselnikov, Grigory Guselnikov and others v. Republic of Latvia (ICSID Case No. ARB/17/47) Latvia - United Kingdom BIT (1994) ICSID ICSID Investment: Majority shareholding in the Latvian bank AS Norvik Banka.

Summary: Claims arising out of the sanctions imposed by the Government on the claimants’ bank for its alleged failure to comply with anti-money laundering and terrorist-financing regulations.
Majority shareholding in the Latvian bank AS Norvik Banka. Pending Latvia United Kingdom Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Data not available Data not available Data not available Data not available Pending None None None None None None None
5 2017 Rockhopper v. Italy Rockhopper Exploration Plc, Rockhopper Italia S.p.A. and Rockhopper Mediterranean Ltd v. Italian Republic (ICSID Case No. ARB/17/14) The Energy Charter Treaty (1994) ICSID ICSID Investment: 100% working interest in the Ombrina Mare oil and gas discovery project and a related offshore exploration permit.

Summary: Claims arising out of the decision in February 2016 by the Ministry of Economic Development not to award the claimants a production concession covering the Ombrina Mare field located within 12 miles of the coast of Italy, following the Government’s re-introduction of a general ban on oil and gas exploration and production activity within the 12 mile limit of the coastline.
100% working interest in the Ombrina Mare oil and gas discovery project and a related offshore exploration permit. Pending Italy United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Poncet, C. - Claimant

Dupuy, P.-M. - Respondent

Reichert, K. - President
Data not available Data not available Data not available Pending None None None None None None None
6 2017 Vodafone v. India (II) Vodafone Group Plc and Vodafone Consolidated Holdings Limited v. India (II) India - United Kingdom BIT (1994) UNCITRAL Data not available Investment: Ownership of an Indian telecoms company.

Summary: Claims arising out of a retrospective transaction tax imposed by the Government over claimants' acquisition of Indian-based Hutchison Whampoa telecoms business.
Ownership of an Indian telecoms company. Pending India United Kingdom Tertiary: J - Information and communication 61 - Telecommunications Name not available - President

Caron, D. D. - Claimant

Name not available - Respondent
Data not available Data not available Data not available Pending None None None None None None None
7 2016 Astro and South Asia Entertainment v. India Astro All Asia Networks and South Asia Entertainment Holdings Limited v. India India - United Kingdom BIT (1994)

India - Mauritius BIT (1998)
UNCITRAL Data not available Investment: Investment in the Indian satellite TV company Sun Direct.

Summary: Claims arising out of an allegedly unfair and biased criminal investigation by the Government relating to the suspected bribery by the claimants of Indian government officials.
Investment in the Indian satellite TV company Sun Direct. Pending India United Kingdom

Mauritius
Tertiary: J - Information and communication 61 - Telecommunications Leaver, P. - Claimant

Moser, M. J. - President

Reed, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
8 2016 Biram and others v. Spain Aharon Naftali Biram, Gilatz Spain SL, Redmill Holdings Ltd and Sun-Flower Olmeda GmbH v. Kingdom of Spain (ICSID Case No. ARB/16/17) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic plants.

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.
Investments in photovoltaic plants. Pending Spain Germany

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Bernardini, P. - Respondent (replaced)

Johnson, O. T. - Claimant

Greenwood, C. - President

Kohen, M. G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
9 2016 CIC Renewable and others v. Italy CIC Renewable Energies Italy GmbH, Enernovum Asset 1 GmbH & Co. KG, Enernovum GmbH & Co. KG and others v. Italian Republic (ICSID Case No. ARB/16/39) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic plants.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in photovoltaic plants. Pending Italy Germany

United Kingdom

Luxembourg
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Reichert, K. - President

Poncet, C. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
10 2016 Darley v. Poland Darley Energy Plc v. Republic of Poland Poland - United Kingdom BIT (1987) UNCITRAL PCA Investment: Investments in preparations for, and participation in, a Government tender for a potash concession.

Summary: Claims arising out of the Government’s decision to deny a potash mining concession to the claimant and to grant it to the partly State-owned mining company KGHM, allegedly in violation of the tender process.
Investments in preparations for, and participation in, a Government tender for a potash concession. Pending Poland United Kingdom Primary: B - Mining and quarrying 8 - Other mining and quarrying Mourre, A. - President

Hobér, K. - Claimant

Poczobut, J. - Respondent
1400.00 mln EUR (1665.50 mln USD) Data not available Data not available Pending Data not available Data not available None None None None None
11 2016 Eyre and Montrose Developments v. Sri Lanka Raymond Charles Eyre and Montrose Developments (Private) Limited v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/16/25) Sri Lanka - United Kingdom BIT (1980) ICSID ICSID Investment:

Summary:
Pending Sri Lanka United Kingdom Data not available Data not available Reed, L. - President

Lew, J. D. M. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
12 2016 Glencore Finance v. Bolivia Glencore Finance (Bermuda) Ltd. v. Plurinational State of Bolivia (PCA Case No. 2016-39) Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL PCA Investment: Indirect ownership of two smelting plants (the Vinto Metallurgical Complex and the Vinto Antimony Plant) and a tin and zinc mine (Colquiri Mining Center) through local subsidiaries Sinchi Wayra S.A. and Compañía Minera Colquiri S.A.

Summary: Claims arising out of Bolivia’s direct expropriations of two tin and antimony smelting plants as well as a tin and zinc mine, all owned by the claimant’s local subsidiaries.
Indirect ownership of two smelting plants (the Vinto Metallurgical Complex and the Vinto Antimony Plant) and a tin and zinc mine (Colquiri Mining Center) through local subsidiaries Sinchi Wayra S.A. and Compañía Minera Colquiri S.A. Pending Bolivia, Plurinational State of United Kingdom Primary: B - Mining and quarrying

Secondary: C - Manufacturing
7 - Mining of metal ores

24 - Manufacture of basic metals
Ramírez Hernández, R. - President

Gotanda, J. Y. - Claimant

Sands, P. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
13 2016 Gosling and others v. Mauritius Thomas Gosling, Property Partnerships Development Managers (UK), Property Partnerships Developments (Mauritius) Ltd, Property Partnerships Holdings (Mauritius) Ltd and TG Investments Ltd v. Republic of Mauritius (ICSID Case No. ARB/16/32) Mauritius - United Kingdom BIT (1986) ICSID ICSID Investment: Investments in two real estate projects (tourist resorts) in Le Morne and Pointe Jérôme.

Summary: Claims arising out of the Government’s changes to its planning guidance policy and the designation of Le Morne area in southwest Mauritius as a UNESCO World Heritage Site in 2008, with the claimants alleging that these actions rendered worthless their investments in two planned tourist resorts.
Investments in two real estate projects (tourist resorts) in Le Morne and Pointe Jérôme. Pending Mauritius United Kingdom Tertiary: L - Real estate activities 68 - Real estate activities Alexandrov, S. A. - Claimant

Stern, B. - Respondent

Rigo Sureda, A. - President
70.00 mln EUR (78.60 mln USD) Data not available Data not available Pending None None None None None None None
14 2016 Vedanta v. India Vedanta Resources PLC v. India India - United Kingdom BIT (1994) UNCITRAL Data not available Investment: 59.9% shareholding in Cairn India Limited, one of the largest oil and gas exploration companies in India.

Summary: Claims arising out of a tax bill of approximately USD 3.29 billion, imposed by the Government on Cairn India Limited in 2015, for the alleged failure to pay taxes on capital gains arising from Cairn’s operations in 2006-2007.
59.9% shareholding in Cairn India Limited, one of the largest oil and gas exploration companies in India. Pending India United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Hwang, M. - President

Spigelman, J. - Claimant

McRae, D. M. - Respondent
3000.00 mln USD Data not available Data not available Pending None None None None None None None
15 2015 Anglia v. Czech Republic Anglia Auto Accessories Ltd v. The Czech Republic (SCC Case No. 2014/181) Czech Republic - United Kingdom BIT (1990) SCC SCC Investment: Contractual claim to damages confirmed by an arbitral award related to a joint venture with the local Czech company Kyjovan for the manufacturing of automobile accessories.

Summary: Claims arising out of alleged delays on the part of Czech courts related to the enforcement of a CZK 4.8 million arbitration award, which the claimant obtained against its local business partner Kyjovan in 1997. According to the claimant, the courts’ conduct deprived the claimant of the value of the arbitral award.
Contractual claim to damages confirmed by an arbitral award related to a joint venture with the local Czech company Kyjovan for the manufacturing of automobile accessories. Decided in favour of State Czech Republic United Kingdom Secondary: C - Manufacturing 28 - Manufacture of machinery and equipment n.e.c. Banifatemi, Y. - President

Reinisch, A. - Claimant

Sands, P. - Respondent
40.00 mln CZK (1.60 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
None - all claims dismissed at the merits stage Final Award dated 10 March 2017 None None None None None None
16 2015 Busta v. Czech Republic J.P. Busta and I.P. Busta v. The Czech Republic (SCC Case No. 2015/014) Czech Republic - United Kingdom BIT (1990) SCC SCC Investment: Sole shareholding in a locally incorporated company, Sprint CR, engaged in the wholesale of automobile parts and accessories.

Summary: Claims arising out of alleged inaction of the local police related to accusations of theft raised by the claimants against the local Czech partner in a joint venture, Kyjovan, when Kyjovan began moving goods owned by one of the claimants’ companies (Sprint CR) out of a warehouse.
Sole shareholding in a locally incorporated company, Sprint CR, engaged in the wholesale of automobile parts and accessories. Decided in favour of State Czech Republic United Kingdom Secondary: C - Manufacturing 28 - Manufacture of machinery and equipment n.e.c. Banifatemi, Y. - President

Reinisch, A. - Claimant

Sands, P. - Respondent
177.00 mln CZK (6.90 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
None - all claims dismissed at the merits stage Final Award dated 10 March 2017 None None None None None None
17 2015 Cairn v. India Cairn Energy PLC and Cairn UK Holdings Limited v. The Republic of India (PCA Case No. 2016-7) India - United Kingdom BIT (1994) UNCITRAL Data not available Investment: Interests in subsidiary Cairn UK Holdings Limited and 10 per cent shareholding in Cairn India Limited (CIL), one of the largest oil and gas exploration companies in India.

Summary: Claims arising out of a draft assessment order issued by the Indian Income Tax Department addressed to the claimant’s subsidiary, Cairn UK Holdings Limited, in respect of fiscal year 2006/7 in the amount of USD 1.6 billion plus any applicable interest and penalties; and the alleged prohibition for the claimant to sell its 10 per cent shareholding in Cairn India Limited.
Interests in subsidiary Cairn UK Holdings Limited and 10 per cent shareholding in Cairn India Limited (CIL), one of the largest oil and gas exploration companies in India. Pending India United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Lévy, L. - President

Alexandrov, S. A. - Claimant

Thomas, J. C. - Respondent
1000.00 mln USD Data not available Data not available Pending None None None None None None None
18 2015 Cortec Mining v. Kenya Cortec Mining Kenya Limited, Cortec (Pty) Limited and Stirling Capital Limited v. Republic of Kenya (ICSID Case No. ARB/15/29) Kenya - United Kingdom BIT (1999) ICSID ICSID Investment: Investments in the Kenyan mining sector, including a 21-year mining license for the extraction of rare earths at the Mrima Hill project, southern part of the country.

Summary: Claims arising out of the Government's allegedly unlawful revocation of claimant's mining license, following the discovery of new rare earths deposits by the claimant.
Investments in the Kenyan mining sector, including a 21-year mining license for the extraction of rare earths at the Mrima Hill project, southern part of the country. Pending Kenya United Kingdom Primary: B - Mining and quarrying 8 - Other mining and quarrying Stern, B. - Respondent

Dharmananda, K. - Claimant

Binnie, I. - President
2000.00 mln USD Data not available Data not available Pending None None None None None None None
19 2015 Gabriel Resources v. Romania Gabriel Resources Ltd. and Gabriel Resources (Jersey) v. Romania (ICSID Case No. ARB/15/31) Canada - Romania BIT (2009)

Romania - United Kingdom BIT (1995)
ICSID ICSID Investment: Majority shareholding in Rosia Montana Gold Corporation, a Romanian mining company, co-owned with a State-owned entity.

Summary: Claims arising out of the allegedly discriminatory measures relating to the approval of an environmental impact assessment and the issuance of an environmental permit required to start exploitation of the claimant's mining project.
Majority shareholding in Rosia Montana Gold Corporation, a Romanian mining company, co-owned with a State-owned entity. Pending Romania Canada

United Kingdom
Primary: B - Mining and quarrying 7 - Mining of metal ores Alexandrov, S. A. - Claimant (replaced)

Douglas, Z. - Respondent

Cheng, T. - President

Grigera Naón, H. A. - Claimant
5700.00 mln CAD (4400.00 mln USD) Data not available Data not available Pending None None None None None None None
20 2015 Hourani v. Kazakhstan Devincci Salah Hourani and Issam Salah Hourani v. Republic of Kazakhstan (ICSID Case No. ARB/15/13) Kazakhstan - United Kingdom BIT (1995)

Kazakhstan - United States of America BIT (1992)
ICSID ICSID Investment: Ownership of pharmaceuticals manufacturer, Pharm Industry.

Summary: Claims arising out of the alleged unlawful expropriation and liquidation of a pharmaceuticals manufacturer, Pharm Industry including the alleged seizure of a 10-hectare plot of land transferred from Issam Hourani to Pharm Industry as well as the annulment of a decree that had granted Pharm Industry ownership of a 42-hectare plot of land.
Ownership of pharmaceuticals manufacturer, Pharm Industry. Pending Kazakhstan United Kingdom

United States of America
Secondary: C - Manufacturing 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations Hoffmann, A. - Claimant

Thomas, J. C. - Respondent

Sachs, K. - President
170.00 mln USD Data not available Data not available Pending None None None None None None None
21 2015 ICS v. Argentina (II) ICS Inspection and Control Services Limited v. The Argentine Republic (II) Argentina - United Kingdom BIT (1990) UNCITRAL Data not available Investment: Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy.

Summary: Claims arising out of Argentina's alleged non-payment of invoices to the investor under a contract in which ICS was to provide auditing services in relation to a government-sponsored scheme to inspect imports bound for the country before they were shipped.
Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy. Pending Argentina United Kingdom Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Sekolec, J. - President

Tschanz, P.-Y. - Claimant

Bello Janeiro, D. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
22 2015 JKX Oil & Gas and Poltava v. Ukraine JKX Oil & Gas plc, Poltava Gas B.V. and Poltava Petroleum Company v. Ukraine Ukraine - United Kingdom BIT (1993)

Netherlands - Ukraine BIT (1994)

The Energy Charter Treaty (1994)
UNCITRAL PCA Investment: Investments in oil and gas production plants in Ukraine.

Summary: Claims arising from a series of alleged discriminatory State measures including legislation adopted in July 2014 that temporarily raised royalties on gas production from 28 to 55 per cent as well as regulations introduced in November 2014 that required private companies to purchase gas solely from state entity Naftogaz, and placed restrictions on other sellers.
Investments in oil and gas production plants in Ukraine. Decided in favour of investor Ukraine United Kingdom

Netherlands
Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Crawford, J. R. - President

Hanotiau, B. - Claimant

Reisman, W. M. - Respondent
270.00 mln USD 11.80 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Data not available Award dated 6 February 2017 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Ruling of the High Court of Justice of England and Wales dated 27 October 2017 (Judicial review by national courts) None None
23 2015 MMEA and AHSI v. Senegal Menzies Middle East and Africa S.A. and Aviation Handling Services International Ltd. v. Republic of Senegal (ICSID Case No. ARB/15/21) Netherlands - Senegal BIT (1979)

Senegal - United Kingdom BIT (1980)
ICSID ICSID Investment: Ownership of subsidiary Aviation Handling Services (AHS), which provides aircraft ground-handling services at the Léopold Sédar Senghor International Airport in Dakar, Senegal.

Summary: Claims arising out of placing claimants’ company in administration by the government, which claimants view as disguised expropriation. According to the government, the measure was part of the illegal enrichment investigation against a former Senegalese minister for air transport.
Ownership of subsidiary Aviation Handling Services (AHS), which provides aircraft ground-handling services at the Léopold Sédar Senghor International Airport in Dakar, Senegal. Decided in favour of State Senegal United Kingdom

Netherlands
Tertiary: H - Transportation and storage 51 - Air transport Hanotiau, B. - President

Gharavi, H. G. - Claimant

Mayer, P. - Respondent
41.63 mln EUR (44.11 mln USD) Data not available Indirect expropriation None - jurisdiction declined Award dated 5 August 2016 None None None None None None
24 2015 Paz Holdings v. Bolivia Paz Holdings Ltd. v. Plurinational State of Bolivia Bolivia, Plurinational State of - United Kingdom BIT (1988) UNCITRAL None Investment: Shareholding of 36.6 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 claimant’s (indirectly-held) shares in four Bolivian electricity companies.
Shareholding of 36.6 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 United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted Data not available 19.51 mln USD Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
25 2014 A11Y v. Czech Republic A11Y LTD. v. Czech Republic (ICSID Case No. UNCT/15/1) Czech Republic - United Kingdom BIT (1990) UNCITRAL ICSID Investment: Company engaged in the supply of high quality compensation aids to the blind and visually impaired people.

Summary: Claims arising out of allegedly discriminatory State actions against claimant's business of providing electronic aids for visually handicapped, including the disclosure of know-how to A11Y's competitors and damages to its goodwill, in the context of government allowances to blind and visually handicapped people for special compensation aids.
Company engaged in the supply of high quality compensation aids to the blind and visually impaired people. Pending Czech Republic United Kingdom Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles

Tertiary: M - Professional, scientific and technical activities
47 - Retail trade, except of motor vehicles and motorcycles

74 - Other professional, scientific and technical activities
Fortier, L. Y. - President

Alexandrov, S. A. - Claimant

Joubin-Bret, A. - Respondent
565.00 mln CZK (23.80 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Pending Decision on Jurisdiction dated 9 February 2017 None None None None None None
26 2014 Anglia and Busta v. Czech Republic Anglia Auto Accessories, Ivan Peter Busta and Jan Peter Busta v. The Czech Republic Czech Republic - United Kingdom BIT (1990) SCC SCC Investment: Interests in a rooftop carrier production facility in Moravia.

Summary: Claims arising out of a series of alleged measures by the Government in the context of a dispute between the claimants and their local Czech partner in a joint venture engaged in the production of vehicle roof-racks.
Interests in a rooftop carrier production facility in Moravia. Discontinued Czech Republic United Kingdom Secondary: C - Manufacturing 28 - Manufacture of machinery and equipment n.e.c. Böckstiegel, K.-H. - President

Hobér, K. - Claimant

Sands, P. - Respondent
200.00 mln CZK (9.10 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability Order to dismiss the case issued by the SCC Secretariat for failure to pay advance on costs dated 23 October 2014 None None None None None None
27 2014 Anglo American v. Venezuela Anglo American PLC v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/14/1) United Kingdom - Venezuela, Bolivarian Republic of BIT (1995) ICSID AF ICSID Investment: Rights under nickel-mining concessions owned by Anglo American's local subsidiary, Minera Loma de Niquel.

Summary: Claims arising out of the Government's cancellation and non-renewal of nickel-mining concessions owned by claimant's Venezuelan subsidiary, allegedly resulting in the permanent cease of production and mining activities.
Rights under nickel-mining concessions owned by Anglo American's local subsidiary, Minera Loma de Niquel. Pending Venezuela, Bolivarian Republic of United Kingdom Primary: B - Mining and quarrying 7 - Mining of metal ores Derains, Y. - President

Tawil, G. S. - Claimant

Vinuesa, R. E. - Respondent
600.00 mln USD Data not available Indirect expropriation Pending None None None None None None None
28 2014 InfraRed and others v. Spain InfraRed Environmental Infrastructure GP Limited and others v. Kingdom of Spain (ICSID Case No. ARB/14/12) The Energy Charter Treaty (1994) ICSID ICSID Investment: Equity participations in two concentrated solar projects in Spain, located in Andalucía and Extremadura.

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.
Equity participations in two concentrated solar projects in Spain, located in Andalucía and Extremadura. Pending Spain United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Drymer, S. L. - President

Park, W. W. - Claimant

Dupuy, P.-M. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
29 2014 Krederi v. Ukraine Krederi Ltd. v. Ukraine (ICSID Case No. ARB/14/17) Ukraine - United Kingdom BIT (1993) ICSID ICSID Investment: Rights under contracts for the development of a hotel, shopping center and apartment complex within a property acquired by Krederi.

Summary: Claims arising out of a series of Ukrainian judicial rulings that annulled contracts held by claimant's subsidiary companies for the acquisition and commercial development of property.
Rights under contracts for the development of a hotel, shopping center and apartment complex within a property acquired by Krederi. Pending Ukraine United Kingdom Tertiary: F - Construction

Tertiary: L - Real estate activities
41 - Construction of buildings

68 - Real estate activities
van den Berg, A. J. - President (replaced)

Wirth, M. - Claimant

Griffith, G. - Respondent

Reinisch, A. - President
120.00 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
Pending None None None None None None None
30 2014 Uzan v. Turkey Cem Cenzig Uzan v. Republic of Turkey (SCC Case No. 2014/023) The Energy Charter Treaty (1994) SCC SCC Investment: Rights under electricity concessions held by claimant's companies ÇEAŞ and Kepez.

Summary: Claims arising out of the alleged termination by the Government of electricity concessions held by the claimant, as well as the seizure of the assets owned by claimant's electricity companies.
Rights under electricity concessions held by claimant's companies ÇEAŞ and Kepez. Decided in favour of State Turkey France

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Cremades, B. M. - President

Carreau, D. - Claimant

Sands, P. - Respondent
3500.00 mln USD Data not available Data not available None - jurisdiction declined Award on Respondent’s Bifurcated Preliminary Objection dated 20 April 2016 Declaration of Philippe Sands Judicial review by national courts Pending (Judicial review by national courts) None None None
31 2014 WNC v. Czech Republic WNC Factoring Ltd (WNC) v. The Czech Republic (PCA Case No. 2014-34) Czech Republic - United Kingdom BIT (1990) UNCITRAL PCA Investment: Ownership of Czech company ČEX, a.s. (later known as FITE Export, a.s.).

Summary: Claims arising out of the Government’s alleged failures during the privatization of Škoda Export following a public tender, which was won by the claimant’s Czech company ČEX, and subsequent actions allegedly resulting in Škoda Export’s insolvency.
Ownership of Czech company ČEX, a.s. (later known as FITE Export, a.s.). Decided in favour of State Czech Republic United Kingdom Tertiary: M - Professional, scientific and technical activities 71 - Architectural and engineering activities; technical testing and analysis Griffith, G. - President

Volterra, R. - Claimant

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

Umbrella clause

Indirect expropriation
None - all claims dismissed at the merits stage Award dated 22 February 2017 None None None None None None
32 2013 Eiser and Energía Solar v. Spain Eiser Infrastructure Limited and Energía Solar Luxembourg S.à r.l. v. Kingdom of Spain (ICSID Case No. ARB/13/36) The Energy Charter Treaty (1994) ICSID ICSID Investment: Interests in three concentrated solar power plants located in 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.
Interests in three concentrated solar power plants located in Spain. Decided in favour of investor Spain Luxembourg

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Crook, J. R. - President

Alexandrov, S. A. - Claimant

McLachlan, C. A. - Respondent
256.00 mln EUR (279.50 mln USD) 128.00 mln EUR (139.80 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 9 February 2015

Award dated 4 May 2017
None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Ramírez Hernández, R. - President

Cheng, T. - Member

Hascher, D. - Member
33 2013 I.C.W. v. The Czech Republic I.C.W. Europe Investments Limited v. The Czech Republic Czech Republic - United Kingdom BIT (1990)

The Energy Charter Treaty (1994)
UNCITRAL None Investment: Interests in the Czech photovoltaic sector.

Summary: Claims arising out of amendments to the pre-existing incentive regime for the renewable energy sector, including the introduction of a levy on electricity generated from solar power plants.
Interests in the Czech photovoltaic sector. Pending Czech Republic United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply van Houtte, H. - President

Bishop, D. - Claimant (replaced)

Landau, T. - Respondent

Born, G. B. - Claimant
Data not available Data not available Data not available Pending None None None None None None None
34 2013 RREEF v. Spain RREEF Infrastructure (G.P.) Limited and RREEF Pan-European Infrastructure Two Lux S.à r.l. v. Kingdom of Spain (ICSID Case No. ARB/13/30) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in two solar power plants located in Andalucía, 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.
Shareholding in two solar power plants located in Andalucía, Spain. Pending Spain Luxembourg

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Pellet, A. - President

Volterra, R. - Claimant

Nikken, P. - Respondent
441.00 mln EUR (512.30 mln USD) Data not available Data not available Pending Decision on Jurisdiction dated 6 June 2016 None None None None None None
35 2012 Accession Mezzanine v. Hungary Accession Mezzanine Capital L.P. and Danubius Kereskedöház Vagyonkezelö Zrt. v. Hungary (ICSID Case No. ARB/12/3) Hungary - United Kingdom BIT (1987) ICSID ICSID Investment: Shareholding in two Hungarian companies (Sláger Rádió Műsorszolgáltató Zrt. and Danubius Rádió Műsorszolgáltató Zrt.) that won a competitive tender for 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 two Hungarian companies (Sláger Rádió Műsorszolgáltató Zrt. and Danubius Rádió Műsorszolgáltató Zrt.) that won a competitive tender for licenses for FM national radio-broadcasting frequencies in Hungary. Decided in favour of State Hungary United Kingdom Tertiary: J - Information and communication 60 - Programming and broadcasting activities Rovine, A. W. - President

Lalonde, M. - Claimant

Douglas, Z. - Respondent

McRae, D. M. - Respondent (replaced)
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 Arbitration Rule 41(5) dated 16 January 2013

Decision on Respondent's Notice of Jurisdictional Objections and Request for Bifurcation dated 8 August 2013

Award dated 17 April 2015
None None None None None None
36 2012 Allawi v. Pakistan Ali Allawi v. Islamic Republic of Pakistan Pakistan - United Kingdom BIT (1994) UNCITRAL PCA Investment: Shareholding in Progas, a company engaged in import operations of liquid petroleum gas.

Summary: Claims arising out of the alleged Government interference in operations at a gas import terminal at Port Qasim, leading to the alleged expropriation of claimant's liquid petroleum gas infrastructure in Karachi.
Shareholding in Progas, a company engaged in import operations of liquid petroleum gas. Decided in favour of State Pakistan United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Fortier, L. Y. - President

Brower, C. N. - Claimant

Thomas, J. C. - Respondent
70.00 mln USD Data not available Data not available None - all claims dismissed at the merits stage Award dated 2016 None None None None None None
37 2012 Churchill Mining and Planet Mining v. Indonesia Churchill Mining and Planet Mining Pty Ltd v. Republic of Indonesia (ICSID Case No. ARB/12/40 and 12/14) Indonesia - United Kingdom BIT (1976)

Australia - Indonesia BIT (1992)
ICSID ICSID Investment: Controlling interest in the mining East Kutai Coal Project; rights under related mining licenses.

Summary: Claims arising out of the unilateral revocation by the Government of mining licenses in which the claimants held interests.
Controlling interest in the mining East Kutai Coal Project; rights under related mining licenses. Decided in favour of State Indonesia United Kingdom

Australia
Primary: B - Mining and quarrying 5 - Mining of coal and lignite Kaufmann-Kohler, G. - President

van den Berg, A. J. - Claimant

Hwang, M. - Respondent
1315.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Indirect expropriation
None - jurisdiction declined Decision on Jurisdiction (Churchill Mining Plc) dated 24 February 2014

Decision on Jurisdiction (Planet Mining Pty Ltd) dated 24 February 2014

Award dated 6 December 2016
None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Hascher, D. - President

Böckstiegel, K.-H. - Member

Kalicki, J. E. - Member
38 2011 Garanti Koza v. Turkmenistan Garanti Koza LLP v. Turkmenistan (ICSID Case No. ARB/11/20) Turkmenistan - United Kingdom BIT (1995)

Turkey - Turkmenistan BIT (1992)
ICSID ICSID Investment: Rights under a contract signed between State Concern Turkmenautoyollari and Garanti Koza LLP for the design and construction of 28 highway bridges and overpasses on the Mary-Turkmenabad highway in Turkmenistan.

Summary: Claims arising out of disagreements between Garanti Koza and Turkmenistan over the performance of certain construction contract that led to the suspension of works and the subsequent Government's termination of the contract based on the investor's alleged failure to complete the work on time and the failure to resume works for a prolonged time of time.
Rights under a contract signed between State Concern Turkmenautoyollari and Garanti Koza LLP for the design and construction of 28 highway bridges and overpasses on the Mary-Turkmenabad highway in Turkmenistan. Decided in favour of investor Turkmenistan United Kingdom Tertiary: F - Construction 42 - Civil engineering Townsend, J. M. - President

Boisson de Chazournes, L. - Claimant

Lambrou, G. C. - Respondent
46.10 mln USD 2.50 mln USD Direct expropriation

Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Decision on the Objection to Jurisdiction for Lack of Consent dated 3 July 2013

Award dated 19 December 2016
Dissenting Opinion by Laurence Boisson de Chazournes (Decision on the Objection to Jurisdiction for Lack of Consent) None None None None None
39 2011 Indorama v. Egypt Indorama International Finance Limited v. Arab Republic of Egypt (ICSID Case No. ARB/11/32) Egypt - United Kingdom BIT (1975) ICSID ICSID Investment: Shareholding in an Egyptian textile production company.

Summary: Claims arising out of the Government's renationalisation of Indorama's Shebin al-Kom textile factory, in the Menoufia province.
Shareholding in an Egyptian textile production company. Settled Egypt United Kingdom Secondary: C - Manufacturing 13 - Manufacture of textiles McRae, D. M. - President

Schreuer, C. H. - Claimant

Douglas, Z. - Respondent
156.00 mln USD 54.00 mln USD Direct expropriation Not applicable - settled or discontinued before decision on liability Procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 2 July 2015 None None None None None None
40 2011 Oxus Gold v. Uzbekistan Oxus Gold plc v. Republic of Uzbekistan, the State Committee of Uzbekistan for Geology & Mineral Resources, and Navoi Mining & Metallurgical Kombinat United Kingdom - Uzbekistan BIT (1993) UNCITRAL Data not available Investment: Direct and indirect shareholding in subsidiaries that held interests in two mining projects in Uzbekistan.

Summary: Claims arising out of the alleged misappropriation by the Uzbek Government of claimant’s Khandiza and Amantaytau Goldfields mining/exploration assets in Uzbekistan.
Direct and indirect shareholding in subsidiaries that held interests in two mining projects in Uzbekistan. Decided in favour of investor Uzbekistan United Kingdom Primary: B - Mining and quarrying 7 - Mining of metal ores Tercier, P. - President

Lalonde, M. - Claimant

Stern, B. - Respondent
1250.50 mln USD 10.30 mln USD 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 Decision on Jurisdiction dated 2012

Final Award dated 17 December 2015
Partially Dissenting Opinion Judicial review by national courts Pending (Judicial review by national courts) None None None
41 2011 Rafat v. Indonesia Rafat Ali Rizvi v. Republic of Indonesia (ICSID Case No. ARB/11/13) Indonesia - United Kingdom BIT (1976) ICSID ICSID Investment: Indirect shareholding in three Indonesian banks through the alleged co-ownership of a Bahamas corporation.

Summary: Claims arising out of the Government's bailout of Bank Century in which Mr. Rizvi allegedly held shares and the subsequent claimant's conviction by Indonesian courts for fraud and money laundering.
Indirect shareholding in three Indonesian banks through the alleged co-ownership of a Bahamas corporation. Decided in favour of State Indonesia United Kingdom Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Griffith, G. - President

Donoghue, J. E. - Claimant

Sornarajah, M. - Respondent
75.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None - jurisdiction declined Award on jurisdiction dated 16 July 2013

Decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) dated 4 April 2012

Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 22 June 2012
Separate Concurring Opinion of Prof. Muthucumaraswamy Sornarajah (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rules 53 and 44 issued dated 4 May 2015 (ICSID annulment proceedings) None Rigo Sureda, A. - President

Cheng, T. - Member

Knieper, R. - Member

Schreuer, C. H. - Member (replaced)
42 2011 Shortt v. Venezuela Hortensia Margarita Shortt v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/30) United Kingdom - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Ownership of Zulia Towing and Barge Company, engaged in providing towing services for docking and undocking of oil and petrochemical tankers and boats used for lake transportation.

Summary: Claims arising out of the Government's enactment of the Law on the Expropriation of Primary Activities for Oil Production by which claimant's maritime transport equipment and facilities were expropriated.
Ownership of Zulia Towing and Barge Company, engaged in providing towing services for docking and undocking of oil and petrochemical tankers and boats used for lake transportation. Settled Venezuela, Bolivarian Republic of United Kingdom Primary: B - Mining and quarrying

Tertiary: H - Transportation and storage
9 - Mining support service activities

50 - Water transport
Data not available Data not available Direct expropriation Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Secretary-General pursuant to ICSID Arbitration Rule 45 dated 11 May 2015 None None None None None None
43 2011 The PV Investors v. Spain The PV Investors v. Spain (PCA Case No. 2012-14) The Energy Charter Treaty (1994) UNCITRAL PCA Investment: Interests in photovoltaic energy installations in 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.
Interests in photovoltaic energy installations in Spain. Pending Spain Denmark

Germany

Ireland

Luxembourg

Netherlands

United Kingdom
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kaufmann-Kohler, G. - President

Brower, C. N. - Claimant

Sepúlveda Amor, B. - Respondent
1900.00 mln EUR (2200.00 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Pending Decision on Bifurcation dated March 2013 None None None None None None
44 2011 Williams Companies and others v. Venezuela The Williams Companies, International Holdings B.V., WilPro Energy Services (El Furrial) Limited and WilPro Energy Services (Pigap II) Limited v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/11/10) Netherlands - Venezuela, Bolivarian Republic of BIT (1991) ICSID ICSID Investment: Rights under long term agreements for gas supply in Venezuela; ownership and operation of gas compression and injection plants.

Summary: Claims arising out of the Government's termination of claimants' long term agreements entered into with the national oil company PDVSA for gas compression and injection and gas supply in Venezuela, followed by the seizure of their assets under a nationalisation decree and the alleged failure to comply with payment obligations for services rendered before the companies' nationalisation.
Rights under long term agreements for gas supply in Venezuela; ownership and operation of gas compression and injection plants. Settled Venezuela, Bolivarian Republic of Netherlands

United Kingdom
Primary: B - Mining and quarrying

Tertiary: D - Electricity, gas, steam and air conditioning supply
6 - Extraction of crude petroleum and natural gas

35 - Electricity, gas, steam and air conditioning supply
Tribunal not constituted Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order of the Secretary-General Taking Note of the Discontinuance of the Proceeding Pursuant to ICSID Arbitration Rule 45 dated 8 February 2017 None None None None None None
45 2011 World Callao v. Peru DP World Callao S.R.L., P&O Dover (Holding) Limited, and The Peninsular and Oriental Steam Navigation Company v. Republic of Peru (ICSID Case No. ARB/11/21) Peru - United Kingdom BIT (1993) ICSID ICSID Investment: Rights under a concession agreement granted by the Peruvian Government to build and operate a pier at Lima's port of Callao.

Summary: Claims arising out of alleged Government discriminatory treatment by not allowing the claimants to participate in the bidding for the North Pier of Callao's Port, as well as the alleged lack of compensation to the investor for granting better conditions to the current operator of the North Pier which allegedly affected the economic balance of the concession agreement of the South Pier and the competitive conditions guaranteed by the State.
Rights under a concession agreement granted by the Peruvian Government to build and operate a pier at Lima's port of Callao. Pending Peru United Kingdom Tertiary: F - Construction 42 - Civil engineering Veeder, V. V. - President

Orrego Vicuña, F. - Claimant

von Wobeser, C. - Respondent
200.00 mln USD Data not available Most-favoured nation treatment Pending None None None None None None None
46 2010 British Caribbean Bank v. Belize British Caribbean Bank Ltd. v. The Government of Belize (PCA Case No. 2010-18) Belize - United Kingdom BIT (1982) UNCITRAL PCA Investment: Rights under certain loan and security agreements concluded with two Belizean companies.

Summary: Claims arising out of the Government’s compulsory acquisition of the claimant’s interest in certain loan and security agreements concluded with Belize Telemedia, a telecommunications company registered in Belize, and Sunshine Holdings Limited, a company registered in Belize that held shares in Telemedia, in the context of the Government’s compulsory acquisition of Telemedia and Sunshine themselves.
Rights under certain loan and security agreements concluded with two Belizean companies. Decided in favour of investor Belize United Kingdom Tertiary: J - Information and communication 61 - Telecommunications van den Berg, A. J. - President

Beechey, J. - Claimant

Oreamuno Blanco, R. - Respondent
45.20 mln USD 25.20 mln USD Indirect 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
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 19 December 2014 None None None None None None
47 2010 Dunkeld v. Belize (II) Dunkeld International Investment Limited v. The Government of Belize (II) (PCA Case No. 2010-21) Belize - United Kingdom BIT (1982) UNCITRAL PCA Investment: Majority shareholding in the Belizean telecommunications company Belize Telemedia Limited; right to arbitrate.

Summary: Claims arising out of an injunction from Belizean courts against arbitral proceedings previously initiated by the claimant against Belize concerning the alleged expropriation of its investment in the telecoms company Telemedia Limited, and Dunkeld's consideration that this action was tantamount to the State's expropriation of claimant's right to pursue arbitration.
Majority shareholding in the Belizean telecommunications company Belize Telemedia Limited; right to arbitrate. Settled Belize United Kingdom Tertiary: J - Information and communication 61 - Telecommunications van den Berg, A. J. - President

Beechey, J. - Claimant

Oreamuno Blanco, R. - Respondent
175.00 mln USD 24.60 mln USD Indirect expropriation Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 11 September 2015

Termination Order and Award of Costs dated 31 December 2016
None None None None None None
48 2010 Guaracachi v. Bolivia Guaracachi America, Inc. and Rurelec PLC v. The Plurinational State of Bolivia (PCA Case No. 2011-17) Bolivia, Plurinational State of - United Kingdom BIT (1988)

Bolivia, Plurinational State of - United States of America BIT (1998)
UNCITRAL PCA Investment: Indirect controlling shareholding in Bolivian company that held a 30 year electricity generation license; associated licenses and permits; capital contributions for acquisition of energy generation assets including several gas turbines and gas engines.

Summary: Claims arising out of the Government's nationalisation of Guaracachi America, Inc. and of Rurelec's controlling 50.001 per cent shareholding in the Bolivian electricity company Empresa Eléctrica Guaracachi, as well as the alleged failure by the claimants to obtain justice through the Bolivian court system and the subsequent seizure of assets owned by Rurelec’s subsidiary, Energía para Sistemas Aislados Energais S.A.
Indirect controlling shareholding in Bolivian company that held a 30 year electricity generation license; associated licenses and permits; capital contributions for acquisition of energy generation assets including several gas turbines and gas engines. Decided in favour of investor Bolivia, Plurinational State of United Kingdom

United States of America
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Júdice, J. M. - President

Conthe, M. - Claimant

Vinuesa, R. E. - Respondent
136.40 mln USD 28.90 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
Direct expropriation Award dated 31 January 2014 Dissenting Opinion of co-arbitrator Manuel Conthe (Award) None None None None None
49 2010 SCB v. Tanzania Standard Chartered Bank v. United Republic of Tanzania (ICSID Case No. ARB/10/12) United Republic of Tanzania - United Kingdom BIT (1994) ICSID ICSID Investment: Debt indirectly owed to SCB under a loan agreement concluded by one of its subsidiaries and a company that had contracted with a State-owned enterprise for the construction and operation of an electricity generating facility; security interests granted as security for the loan; contractual rights under several project finance agreements.

Summary: Claims arising out of outstanding invoices under a loan agreement concluded by claimant's subsidiary and a company that had contracted with a State-owned enterprise for the construction and operation of an electricity generating facility, followed by the Government's control over the power plant and the refusal by Tanzanian courts to enforce a LCIA award in favor of the investor.
Debt indirectly owed to SCB under a loan agreement concluded by one of its subsidiaries and a company that had contracted with a State-owned enterprise for the construction and operation of an electricity generating facility; security interests granted as security for the loan; contractual rights under several project finance agreements. Decided in favour of State Tanzania, United Republic of United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Pryles, M. C. - Claimant

Legum, B. - Respondent
118.60 mln USD Data not available Indirect expropriation

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

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 2 November 2012 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None None
50 2009 Dunkeld v. Belize (I) Dunkeld International Investment Limited v. The Government of Belize (I) (PCA Case No. 2010-13) Belize - United Kingdom BIT (1982) UNCITRAL PCA Investment: Majority shareholding in the Belizean telecommunications company Telemedia Limited.

Summary: Claims arising out of the Government's compulsory acquisition of certain shares in Belize Telemedia Limited, an operator of telecommunications and other media services in Belize in which the claimant had invested, through the enactment of the Belize Telecommunications (Amendment) Act 2009 and certain Belize Telecommunications (Assumption of Control over Belize Telemedia Limited) Order.
Majority shareholding in the Belizean telecommunications company Telemedia Limited. Settled Belize United Kingdom Tertiary: J - Information and communication 61 - Telecommunications van den Berg, A. J. - President

Beechey, J. - Claimant

Oreamuno Blanco, R. - Respondent
600.00 mln BZD (298.70 mln USD) 96.90 mln USD Direct expropriation

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

Full protection and security, or similar

Most-favoured nation treatment
Direct expropriation Award dated 28 June 2016 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the Belize Court of Appeals to Strike Down Injunctions dated 1 November 2013 (Judicial review by national courts) None None
51 2009 ICS v. Argentina (I) ICS Inspection and Control Services Limited v. The Argentine Republic (I) (PCA Case No. 2010-9) Argentina - United Kingdom BIT (1990) UNCITRAL PCA Investment: Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy.

Summary: Claims arising out of Argentina's alleged non-payment of invoices to the investor under a contract in which ICS was to provide auditing services in relation to a government-sponsored scheme to inspect imports bound for the country before they were shipped.
Rights under an auditing services contract concluded between ICS and Argentina's Ministry of Economy. Decided in favour of State Argentina United Kingdom Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Dupuy, P.-M. - President

Lalonde, M. - Claimant

Torres Bernárdez, S. - Respondent
25.00 mln USD Data not available Umbrella clause None - jurisdiction declined Award on Jurisdiction dated 10 February 2012 None None None None None None
52 2008 Malicorp v. Egypt Malicorp Limited v. Arab Republic of Egypt (ICSID Case No. ARB/08/18) Egypt - United Kingdom BIT (1975) ICSID ICSID Investment: Rights under a contract concluded with the Government for the construction and operation of an international airport.

Summary: Claims arising out of the Government's rescission of a contract for the construction and operation of the Ras Sudr international airport in Sinai.
Rights under a contract concluded with the Government for the construction and operation of an international airport. Decided in favour of State Egypt United Kingdom Tertiary: F - Construction

Tertiary: H - Transportation and storage

Tertiary: H - Transportation and storage
41 - Construction of buildings

51 - Air transport

52 - Warehousing and support activities for transportation
Tercier, P. - President

Baptista, L. O. - Claimant

Tschanz, P.-Y. - Respondent
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None - all claims dismissed at the merits stage Award dated 7 February 2011 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on the Application for Annulment of Malicorp Limited dated 3 July 2013 (ICSID annulment proceedings) None Rigo Sureda, A. - President

Alexandrov, S. A. - Member

Silva Romero, E. - Member
53 2007 AES v. Hungary (II) AES Summit Generation Limited and AES-Tisza Erömü Kft. v. Republic of Hungary (II) (ICSID Case No. ARB/07/22) The Energy Charter Treaty (1994) ICSID ICSID Investment: Majority shareholding in a Hungarian electricity generation company that held a power purchase agreement with Hungary; contributions of over EUR 98 million to retrofit certain power station.

Summary: Claims arising out of the Government's reintroduction in 2006 and 2007 of administrative pricing pursuant to two Price Decrees (after administrative prices had been abolished as of 1 January 2004), and the alleged resulting loss of revenue to the investor.
Majority shareholding in a Hungarian electricity generation company that held a power purchase agreement with Hungary; contributions of over EUR 98 million to retrofit certain power station. Decided in favour of State Hungary United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply von Wobeser, C. - President

Rowley, J. W. - Claimant

Stern, B. - Respondent
230.00 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

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 23 September 2010 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the ad hoc Committee on the Application for Annulment dated 29 June 2012 (ICSID annulment proceedings) None Hanotiau, B. - President

Knieper, R. - Member

Yusuf, A. A. - Member
54 2006 Oxus Gold v. Kyrgyzstan Oxus Gold v. Kyrgyz Republic Kyrgyzstan - United Kingdom BIT (1994) UNCITRAL LCIA Investment: Rights under a mining license; capital contributions of over USD 63 million to the mining project.

Summary: Claims arising out of the Government's cancellation of a license for the development of a gold deposit in Kyrgyzstan (known as the Jerooy gold project) and the alleged government-sponsored occupation of premises owned by Talas Gold Mining Company, Oxus’ joint venture company at Jerooy.
Rights under a mining license; capital contributions of over USD 63 million to the mining project. Settled Kyrgyzstan United Kingdom Primary: B - Mining and quarrying 7 - Mining of metal ores Orrego Vicuña, F. - President

Brower, C. N. - Claimant

Dupuy, P.-M. - Respondent
600.00 mln USD Data not available Indirect expropriation Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
55 2006 Vestey v. Venezuela Vestey Group Ltd v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/06/4) United Kingdom - Venezuela, Bolivarian Republic of BIT (1995) ICSID ICSID Investment: Landholdings amounting to some 350,000 hectares in Venezuela for farming purposes.

Summary: Claims arising out of declarations by Venezuela's Land Institute on the lack of validity of a number of Verney's farms, labelled as "unproductive" by State authorities, following the introduction of a new land law in 2001 which created a Land Institute to examine titles to landholdings and to assess whether lands were being used in a productive manner.
Landholdings amounting to some 350,000 hectares in Venezuela for farming purposes. Decided in favour of investor Venezuela, Bolivarian Republic of United Kingdom Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Kaufmann-Kohler, G. - President

Grigera Naón, H. A. - Claimant

Dupuy, P.-M. - Respondent
157.40 mln USD 98.10 mln USD Direct expropriation

Full protection and security, or similar

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Direct expropriation Award dated 15 April 2016 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Donoghue, J. E. - President

Griffith, G. - Member

Fathallah, R. - Member
56 2005 Biwater v. Tanzania Biwater Gauff (Tanzania) Limited v. United Republic of Tanzania (ICSID Case No. ARB/05/22) United Republic of Tanzania - United Kingdom BIT (1994) ICSID ICSID Investment: Controlling interest in local investment vehicle company that had concluded certain agreements with a Tanzanian public corporation, the Dar es Salaam Water and Sewerage Authority, to implement a water and sewerage infrastructure project.

Summary: Claims arising out of contractual disputes between claimant's locally-incorporated company and Tanzania's Water and Sewerage Authority, followed by a series of events that allegedly led to the deportation of the investor's senior management, as well as the seizure of its assets and takeover of its business.
Controlling interest in local investment vehicle company that had concluded certain agreements with a Tanzanian public corporation, the Dar es Salaam Water and Sewerage Authority, to implement a water and sewerage infrastructure project. Decided in favour of neither party (liability found but no damages awarded) Tanzania, United Republic of United Kingdom 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
Hanotiau, B. - President

Born, G. B. - Claimant

Landau, T. - Respondent
20.00 mln USD 0.00 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

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Indirect 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
Award dated 24 July 2008 Concurring and Dissenting Opinion of Gary Born None None None None None
57 2005 EDF v. Romania EDF (Services) Limited v. Republic of Romania (ICSID Case No. ARB/05/13) Romania - United Kingdom BIT (1995) ICSID ICSID Investment: Interests in two joint venture companies with Romanian entities owned by the Romanian Government, engaged in providing duty-free services.

Summary: Claims arising out of the alleged arbitrary taking of a concession to provide duty free and other retail services at several Romanian airports and on board airplanes.
Interests in two joint venture companies with Romanian entities owned by the Romanian Government, engaged in providing duty-free services. Decided in favour of State Romania United Kingdom Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 47 - Retail trade, except of motor vehicles and motorcycles Bernardini, P. - President

Rovine, A. W. - Claimant

Derains, Y. - Respondent
132.50 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 Award dated 8 October 2009 Dissent regarding costs of Mr. Arthur W. Rovine (Award) None None None None None
58 2005 MHS v. Malaysia Malaysian Historical Salvors, SDN, BHD v. Malaysia (ICSID Case No. ARB/05/10) Malaysia - United Kingdom BIT (1981) ICSID ICSID Investment: Rights under a contract entered into with Malaysia for the location and salvage of a British vessel's cargo sank in 1817, and a subsequent contract concerning the auction of potentially recovered items.

Summary: Claims arising out of the alleged non-payment of amounts owed to the claimant from the sale of items recovered from the cargo of a British ship that sank in Malaysian waters pursuant to a salvage contract concluded between the investor and the respondent.
Rights under a contract entered into with Malaysia for the location and salvage of a British vessel's cargo sank in 1817, and a subsequent contract concerning the auction of potentially recovered items. Decided in favour of State Malaysia United Kingdom Tertiary: H - Transportation and storage 52 - Warehousing and support activities for transportation Hwang, M. - Sole arbitrator 3.00 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

Other
None - jurisdiction declined Award on Jurisdiction dated 17 May 2007 None ICSID annulment proceedings Award/decision annulled in its entirety (ICSID annulment proceedings) Decision on the Application for Annulment dated 16 April 2009 (ICSID annulment proceedings) None Schwebel, S. M. - President

Shahabuddeen, M. - Member

Tomka, P. - Member
59 2005 RosInvest v. Russia RosInvestCo UK Ltd. v. The Russian Federation (SCC Case No. 079/2005) Russian Federation - United Kingdom BIT (1989) SCC SCC Investment: Shareholding in the Russian-incorporated Yukos Oil Company OJSC.

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 claimant's 7 million shares in Yukos.
Shareholding in the Russian-incorporated Yukos Oil Company OJSC. Decided in favour of investor Russian Federation United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Böckstiegel, K.-H. - President

Steyn, J. - Unknown

Berman, F. - Unknown
232.70 mln USD 3.50 mln USD Indirect expropriation Indirect expropriation Award on Jurisdiction dated October 2007

Final Award dated 12 September 2010
None Judicial review by national courts Award/decision partially set aside (Judicial review by national courts) Challenge to Jurisdiction dated 12 November 2010 (Judicial review by national courts)

Default Judgment of the Swedish District Court dated 9 November 2011 (Judicial review by national courts)

Judgment of the Svea Court of Appeal (Svea Hovrätt) dated 5 September 2013 (Judicial review by national courts)
None None
60 2005 Yukos Universal v. Russia Yukos Universal Limited (Isle of Man) v. The Russian Federation (PCA Case No. AA 227) The Energy Charter Treaty (1994) UNCITRAL PCA Investment: Shareholding in the Russian-incorporated Yukos Oil Company OJSC.

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 claimant's shares in Yukos.
Shareholding in the Russian-incorporated Yukos Oil Company OJSC. Decided in favour of investor Russian Federation United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Fortier, L. Y. - President

Poncet, C. - Claimant

Kaufmann-Kohler, G. - Claimant (replaced)

Price, D. M. - Claimant (replaced)

Schwebel, S. M. - Respondent
4100.00 mln USD 1846.00 mln USD Indirect expropriation

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

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation Interim Award on Jurisdiction and Admissibility dated 30 November 2009

Final Award dated 18 July 2014
None 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 on Jurisdiction dated 11 September 2014 (Judicial review by national courts)

Judgment of the Hague District Court dated 20 April 2016 (Judicial review by national courts)
None None
61 2004 ANZEF v. India ANZEF Ltd. v. Republic of India India - United Kingdom BIT (1994) 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 United Kingdom 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
62 2004 Standard Chartered Bank v. India Standard Chartered Bank v. Republic of India India - United Kingdom BIT (1994) 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 United Kingdom 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
63 2003 AWG v. Argentina AWG Group Ltd. v. The Argentine Republic Argentina - United Kingdom BIT (1990) UNCITRAL 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 United Kingdom 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
34.10 mln USD 21.00 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) Judicial review by national courts Award/decision upheld (Judicial review by national courts) Memorandum Opinion (on Argentina's application to vacate award), U.S. District Court for the District of Columbia dated 30 September 2016 (Judicial review by national courts) None None
64 2003 BG v. Argentina BG Group Plc v. The Republic of Argentina Argentina - United Kingdom BIT (1990) UNCITRAL None Investment: Direct and indirect ownership interests in a natural gas distribution company incorporated in Argentina.

Summary: Claims arising out of a series of decrees and resolutions taken by Argentina in the course of an economic crisis (including restrictions on transfers, rescheduling of cash deposits and pesification of US dollar deposits) that allegedly affected the claimant's investment and frustrated the investor's ability to hedge against the risk of the devaluation of the pesos.
Direct and indirect ownership interests in a natural gas distribution company incorporated in Argentina. Decided in favour of investor Argentina United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Aguilar Álvarez, G. - President

van den Berg, A. J. - Claimant

Garro, A. M. - Respondent
238.10 mln USD 185.20 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

Arbitrary, unreasonable and/or discriminatory measures
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
Final Award dated 24 December 2007 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Memorandum Opinion (on review of Petition to Vacate or Modify Arbitration Award), U.S. District Court for the District of Columbia, dated 7 June 2010 (Judicial review by national courts)

Memorandum Opinion (on Cross-motion for recognition and enforcement of arbitral award), U.S. District Court for the District of Columbia, dated 21 January 2011 (Judicial review by national courts)

Opinion, United States Court of Appeals, dated 17 January 2012 (Judicial review by national courts)

Judgment of the Supreme Court of the United States dated 5 March 2014 (Judicial review by national courts)
None None
65 2003 Joy Mining v. Egypt Joy Mining Machinery Limited v. Arab Republic of Egypt (ICSID Case No. ARB/03/11) Egypt - United Kingdom BIT (1975) ICSID ICSID Investment: Rights under a contract for supply of phosphate mining equipment concluded with an Egyptian State enterprise.

Summary: Claims arising out of the investor's supply of two sets of phosphate mining equipment to an Egyptian State enterprise, IMC, for a project in Egypt under a contract requiring the claimant to put in place letters of guarantee, including allegations that the equipment was paid but the relevant guarantees were never released.
Rights under a contract for supply of phosphate mining equipment concluded with an Egyptian State enterprise. Decided in favour of State Egypt United Kingdom Primary: B - Mining and quarrying 8 - Other mining and quarrying Orrego Vicuña, F. - President

Craig, W. L. - Claimant

Weeramantry, C. G. - Respondent
2.50 mln GBP (4.50 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

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award on Jurisdiction dated 6 August 2004 None ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance issued by the Tribunal dated 16 December 2005, pursuant to Arbitration Rule 43(1) (ICSID annulment proceedings) None Dimolitsa, A. - President

Hwang, M. - Member

Shaw, J. L. - Member
66 2003 National Grid v. Argentina National Grid PLC v. The Argentine Republic Argentina - United Kingdom BIT (1990) UNCITRAL ICSID Investment: Ownership of shares, through a local investment vehicle company, of an enterprise that had a concession contract with the Argentine government for the operation of the high voltage electricity system, in addition to other associated contracts.

Summary: Claims arising out of the privatization program carried out by the Government of Argentina in the early 1990s, the guarantees offered to investors who brought assets in the electricity sector, and the measures taken by the Respondent to stem the Argentina economic crisis in 2001-2002.
Ownership of shares, through a local investment vehicle company, of an enterprise that had a concession contract with the Argentine government for the operation of the high voltage electricity system, in addition to other associated contracts. Decided in favour of investor Argentina United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Rigo Sureda, A. - President

Kessler, J. L. - Claimant

Debevoise, E. W. - Claimant (replaced)

Garro, A. M. - Respondent
59.00 mln USD 53.50 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

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Decision on Jurisdiction dated June 2006

Award dated 3 November 2008
None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Order (on Petition to Vacate or Modify the award), U.S. District Court for the District of Columbia, dated 7 June 2010 (Judicial review by national courts)

Appeal of Order, U.S. Court of Appeals, dated 7 June 2010 (Judicial review by national courts)

Appeal of Order II, U.S. Court of Appeals, dated 21 April 2011 (Judicial review by national courts)

Certiorari Summary Disposition dated 28 November 2011 (Judicial review by national courts)
None None
67 2003 Petrobart v. Kyrgyz Republic Petrobart Ltd. v. The Kyrgyz Republic (SCC Case No. 126/2003) The Energy Charter Treaty (1994) SCC SCC Investment: Gas supply contract entered into with the State gas company.

Summary: Claims arising out of the non-payment of certain deliveries under the contract, followed by the stay of execution of a debt judgment in favour of the claimant, and a presidential decree pursuant to which the investor's contractual counterparty was restructured and subsequently declared bankrupt, precluding Petrobart to satisfy its debt judgment or obtain any proceeds from the sale of assets.
Gas supply contract entered into with the State gas company. Decided in favour of investor Kyrgyzstan United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Danelius, H. - President

Bring, O. - Claimant

Smets, J. - Respondent
4.10 mln USD 1.10 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

Arbitrary, unreasonable and/or discriminatory measures

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

Other
Award dated 29 March 2005 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Review by Svea Court of Appeal dated 13 April 2006, 13 ICSID Rep. 369 (2008) (Judicial review by national courts)

Review by Svea Court of Appeal dated 19 January 2007, 13 ICSID Rep. 480 (2008) (Judicial review by national courts)
None None
68 2002 JacobsGibb v. Jordan JacobsGibb Limited v. Hashemite Kingdom of Jordan (ICSID Case No. ARB/02/12) Jordan - United Kingdom BIT (1979) ICSID ICSID Investment: Data not available

Summary: Claims arising out of a waterway construction project.
Data not available Settled Jordan United Kingdom Tertiary: F - Construction 43 - Specialized construction activities Böckstiegel, K.-H. - President

Sacerdoti, G. - Claimant

Crawford, J. R. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 13 October 2004, pursuant to Arbitration Rule 43(1) None None None None None None
69 2002 Nagel v. Czech Republic William Nagel v. The Czech Republic (SCC Case No. 049/2002) Czech Republic - United Kingdom BIT (1990) SCC SCC Investment: Rights under a cooperation agreement entered into with a State-owned enterprise.

Summary: Claims arising out of the respondent's failure to grant a public tender for mobile phone contracts to the investor, despite the signature of a cooperation agreement with a State telecommunications company wholly owned by the respondent under which the parties would seek to obtain, through a consortium, the necessary licenses and permits to establish, own and operate a GSM mobile telephone network in the Czech Republic.
Rights under a cooperation agreement entered into with a State-owned enterprise. Decided in favour of State Czech Republic United Kingdom Tertiary: J - Information and communication 61 - Telecommunications Danelius, H. - President

Hunter, M. J. - Claimant

Kronke, H. - 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

Most-favoured nation treatment

Other
None - jurisdiction declined Final Award dated 9 September 2003 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Review by Svea Court of Appeal dated 26 August 2005, 13 ICSID Rep. 97 (2008) (Judicial review by national courts) None None
70 2001 AES v. Hungary (I) AES Summit Generation Limited v. Republic of Hungary (I) (ICSID Case No. ARB/01/4) The Energy Charter Treaty (1994)

Hungary - United Kingdom BIT (1987)
ICSID ICSID Investment: Power purchase and sale agreement.

Summary: Claims arising out of Hungary's alleged failure to comply with a sale agreement of certain State-owned power facilities.
Power purchase and sale agreement. Settled Hungary United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Philip, A. - President

Weil, P. - Claimant

Orrego Vicuña, F. - Respondent
Data not available 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 Tribunal dated 3 January 2002, pursuant to Arbitration Rule 43(1) None None None None None None
71 2001 Booker v. Guyana Booker plc v. Co-operative Republic of Guyana (ICSID Case No. ARB/01/9) Guyana - United Kingdom BIT (1989) ICSID ICSID Investment: Compensation payment rights under debt instruments issued by the government.

Summary: Claims arising out of the repayment of outstanding debt related to the expropriation of a sugar enterprise in the 1970s.
Compensation payment rights under debt instruments issued by the government. Settled Guyana United Kingdom Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Stern, B. - Sole arbitrator 6.80 mln GBP (9.90 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 dated 11 October 2003, pursuant to Arbitration Rule 43(1) None None None None None None
72 2000 UK Bank v. Russia UK Bank v. Russian Federation Russian Federation - United Kingdom BIT (1989) SCC SCC Investment: Sovereign bonds.

Summary: Claims arising out of the default on sovereign bonds during the Russian financial crisis.
Sovereign bonds. Settled Russian Federation United Kingdom Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Data not available Data not available Data not available 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
73 1998 Wena Hotels v. Egypt Wena Hotels Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/98/4) Egypt - United Kingdom BIT (1975) ICSID ICSID Investment: Rights under two long-term hotel lease and development agreements concluded with a company wholly owned by the Egyptian Government.

Summary: Claims arising out of the alleged breach of agreements to develop and manage two hotels in Luxor and Cairo, Egypt, as well as an alleged campaign of continual harassment to the investor by the Government of Egypt.
Rights under two long-term hotel lease and development agreements concluded with a company wholly owned by the Egyptian Government. Decided in favour of investor Egypt United Kingdom Tertiary: L - Real estate activities 68 - Real estate activities Leigh, M. - President

Fadlallah, I. - Claimant

Wallace, D. Jr. - Respondent

Hoellering, M. F. - Respondent (replaced)

Haddad, H. A. - Respondent (replaced)
62.80 mln USD 8.00 mln USD (8.00 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

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

Full protection and security, or similar
Decision on Jurisdiction dated 29 June 1999

Award dated 8 December 2000
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Application for Annulment dated 5 February 2002 (ICSID annulment proceedings) None Kerameus, K. D. - President

Bucher, A. - Member

Orrego Vicuña, F. - Member
74 1987 AAPL v. Sri Lanka Asian Agricultural Products Ltd. (AAPL) v. Republic of Sri Lanka (ICSID Case No. ARB/87/3) Sri Lanka - United Kingdom BIT (1980) ICSID ICSID Investment: Shareholding in a Sri Lankan shrimp farming enterprise.

Summary: Claims arising out of the alleged destruction of claimant's investment during a military operation conducted by Sri Lanka security forces.
Shareholding in a Sri Lankan shrimp farming enterprise. Decided in favour of investor Sri Lanka United Kingdom Primary: A - Agriculture, forestry and fishing 3 - Fishing and aquaculture El-Kosheri, A. S. - President

Goldman, B. - Claimant

Asante, S. K.B. - Respondent
8.00 mln USD 0.46 mln USD Full protection and security, or similar

Losses sustained due to insurrection, war, or similar events

Customary rules of international law
Customary rules of international law Award dated 27 June 1990 Dissenting Opinion of Samuel K.B. Asante (Award) None None None None None