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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 59

France - as home State

Clear selection
Loaded 41 out of 41 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2016 ENGIE and others v. Hungary ENGIE International Holdings BV, ENGIE SA and GDF International SAS v. Hungary (ICSID Case No. ARB/16/14) The Energy Charter Treaty ICSID ICSID Investment: Shareholding in gas companies.

Summary:
Shareholding in gas companies. Pending Hungary France

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Williams, D. A. R. - Claimant

Bernardini, P. - Respondent

Sachs, K. - President
642.00 mln EUR (725.60 mln USD) Data not available Data not available Pending None None None None None None None
2 2016 UAB and others v. Lithuania UAB Litesko, UAB Vilniaus Energija, Veolia Baltics and Eastern Europe S.A.S., Veolia Environnement S.A. v. Republic of Lithuania (ICSID Case No. ARB/16/3) France - Lithuania BIT (1992) ICSID ICSID Investment: Ownership of local subsidiaries in the heating and electrical power generation industry, Vilniaus Energija and Litesko.

Summary: Claims arising out allegedly unfair and discriminatory changes in laws and regulations.
Ownership of local subsidiaries in the heating and electrical power generation industry, Vilniaus Energija and Litesko. Pending Lithuania France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lévy, L. - President

Orrego Vicuña, F. - Claimant

Landau, T. - Respondent
100.00 mln EUR (108.50 mln USD) Data not available Data not available Pending None None None None None None None
3 2015 Cube Infrastructure v. Spain Cube Infrastructure Fund SICAV and others v. Kingdom of Spain (ICSID Case No. ARB/15/20) The Energy Charter Treaty ICSID ICSID Investment: Majority shareholding (66.5 per cent) in a Madrid-based renewable energy company, RPI.

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.
Majority shareholding (66.5 per cent) in a Madrid-based renewable energy company, RPI. Pending Spain France

Luxembourg
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Spigelman, J. - Claimant

Lowe, V. - President

Tomuschat, C. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2015 Orange SA v. Jordan Orange SA v. Hashemite Kingdom of Jordan (ICSID Case No. ARB/15/10) France - Jordan BIT (1978) ICSID ICSID Investment: Majority shareholding in the Jordanian telecommunications company Orange S.A.

Summary: Claims arising out of the alleged discriminatory State actions in the procedure of renewal of the 15-year 2G license of the claimant's local subsidiary Orange S.A., the formerly state-owned Jordan Telecommunications Company (JTC).
Majority shareholding in the Jordanian telecommunications company Orange S.A. Settled Jordan France Tertiary: J - Information and communication 61 - Telecommunications Veeder, V. V. - President

Douglas, Z. - Respondent

Tschanz, P.-Y. - Claimant
Data not available Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
5 2015 Pugachev v. Russia Sergei Viktorovich Pugachev v. The Russian Federation France - Russian Federation BIT (1989) UNCITRAL PCA Investment: Investments in a real estate development company; majority shareholdings in two shipbuilding enterprises and in a construction bureau; rights to develop and mine the coking coal deposit in the Tuva region of Russia; ownership of 167 land plots, and other investments.

Summary: Claims arising out of alleged expropriation by the government of the claimant’s various assets in Russia, civil and criminal proceedings instigated against the claimant and damage to other investments allegedly inflicted by the government.
Investments in a real estate development company; majority shareholdings in two shipbuilding enterprises and in a construction bureau; rights to develop and mine the coking coal deposit in the Tuva region of Russia; ownership of 167 land plots, and other investments. Pending Russian Federation France Tertiary: L - Real estate activities

Secondary: C - Manufacturing

Primary: B - Mining and quarrying

Secondary: C - Manufacturing
68 - Real estate activities

30 - Manufacture of other transport equipment

5 - Mining of coal and lignite

19 - Manufacture of coke and refined petroleum products
Clay, T. - Claimant

Zuleta, E. - President

Cremades, B. M. - Respondent
12000.00 mln USD Data not available Customary rules of international law

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

Full protection and security, or similar

Most-favoured nation treatment

Indirect expropriation
Pending None None None None None None None
6 2015 Rawat v. Mauritius Dawood Rawat v. Republic of Mauritius France - Mauritius BIT (1973) UNCITRAL None Investment: Indirect controlling shareholding in an investment holding company (British American Investment Co. (Mtius) Ltd) with a subsidiary life insurance company (British American Insurance Company Ltd) and a bank (Bramer Banking Corporation Ltd).

Summary: Claims arising out of a series of measures taken by the government of Mauritius, allegedly including the illegal appointment of special administrators who took control over two insurance and banking companies as well as related companies in which the claimant held interests, and the subsequent transfer or sale of their assets to state-owned companies and third parties.
Indirect controlling shareholding in an investment holding company (British American Investment Co. (Mtius) Ltd) with a subsidiary life insurance company (British American Insurance Company Ltd) and a bank (Bramer Banking Corporation Ltd). Pending Mauritius France Tertiary: K - Financial and insurance activities

Tertiary: K - Financial and insurance activities
64 - Financial service activities, except insurance and pension funding

65 - Insurance, reinsurance and pension funding, except compulsory social security
Honlet, J.-C. - Claimant

Reed, L. - President

Lowe, V. - Respondent
1000.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Pending None None None None None None None
7 2014 Blusun v. Italy Blusun S.A., Jean-Pierre Lecorcier and Michael Stein v. Italian Republic (ICSID Case No. ARB/14/3) The Energy Charter Treaty ICSID ICSID Investment: Interests in a photovoltaic energy generation project in Italy.

Summary: Claims arising out of Italy's modification to its solar power regime which reduced the level of feed-in-tariffs available in future, allegedly affecting claimant's investment in a photovoltaic energy generation project in that country.
Interests in a photovoltaic energy generation project in Italy. Data not available Italy Belgium

France

Germany
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Crawford, J. R. - President

Alexandrov, S. A. - Claimant

Dupuy, P.-M. - Respondent
Data not available Data not available Data not available Data not available Award dated 27 December 2016 None None None None None None
8 2014 LDA v. India Louis Dreyfus Armateurs SAS v. The Republic of India France - India BIT (1997) UNCITRAL PCA Investment: Shareholding in a joint venture with Indian port operator ABG Infralogistics to implement a project aimed at the mechanisation of berths at Haldia in West Bengal.

Summary: Claims arising out of a series of measures by the Indian Government that allegedly prevented the effective implementation of a joint venture related to a port modernization project at Haldia, in the city of Kolkota, in which the claimant held stakes; including allegedly failing to provide protection and security to the project, and to obey court orders concerning the removal of equipment from the port.
Shareholding in a joint venture with Indian port operator ABG Infralogistics to implement a project aimed at the mechanisation of berths at Haldia in West Bengal. Pending India France Tertiary: H - Transportation and storage 52 - Warehousing and support activities for transportation Kalicki, J. E. - President

Lew, J. D. M. - Claimant

Thomas, J. C. - Respondent
11.00 mln USD Data not available Full protection and security, or similar Pending None None None None None None None
9 2014 Sodexo Pass v. Hungary Sodexo Pass International SAS v. Hungary (ICSID Case No. ARB/14/20) France - Hungary BIT (1986) ICSID ICSID Investment: Company engaged in the sale of social vouchers in Hungary.

Summary: Claims arising out of the enactment of legislation granting the Government a monopoly over the prepaid corporate vouchers industry, allegedly introducing a State-run voucher system with conditions more favourable than those granted to private operators.
Company engaged in the sale of social vouchers in Hungary. Pending Hungary France Tertiary: N - Administrative and support service activities 82 - Office administrative, office support and other business support activities Park, W. W. - President

Carlevaris, A. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
10 2014 Uzan v. Turkey Cem Uzan v. Republic of Turkey The Energy Charter Treaty 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
2500.00 mln USD Data not available Data not available None - jurisdiction declined Award on Respondent’s Bifurcated Preliminary Objection dated 20 April 2016 None None None None None None
11 2014 VICAT v. Senegal VICAT v. Republic of Senegal (ICSID Case No. ARB/14/19) France - Senegal BIT (2007) ICSID ICSID Investment: Operation of several cement production facilities in Senegal through Vicat's Senegalese wholly-owned subsidiary Sococim.

Summary: Claims arising out of an alleged more favourable treatment by the Government to a Nigerian-based company which was claimant's competitor in the cement production business, including the non-enforcement of environmental and other regulations, to the detriment of Vicat.
Operation of several cement production facilities in Senegal through Vicat's Senegalese wholly-owned subsidiary Sococim. Discontinued Senegal France Secondary: C - Manufacturing 23 - Manufacture of other non-metallic mineral products Sachs, K. - President

Polak, P. - Claimant

Legum, B. - Respondent
Data not available Data not available Most-favoured nation treatment Not applicable - settled or discontinued before decision on liability None None None None None None None
12 2013 Edenred v. Hungary Edenred S.A. v. Hungary (ICSID Case No. ARB/13/21) France - Hungary BIT (1986) ICSID ICSID Investment: Company engaged in the sale of social vouchers in Hungary.

Summary: Claims arising out of the enactment of legislation granting the Government a monopoly over the prepaid corporate vouchers industry, allegedly introducing a State-run voucher system with conditions more favourable than those granted to private operators.
Company engaged in the sale of social vouchers in Hungary. Decided in favour of investor Hungary France Tertiary: N - Administrative and support service activities 82 - Office administrative, office support and other business support activities Fernández-Armesto, J. - President

Orrego Vicuña, F. - Claimant

von Wobeser, C. - Respondent
Data not available 23.00 mln EUR (24.30 mln USD) Indirect expropriation Indirect expropriation Decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) dated 6 June 2014

Decision concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 16 October 2014

Award dated 13 December 2016
None None None None None None
13 2013 Le Chèque Déjeuner v. Hungary Le Chèque Déjeuner and C.D Holding Internationale v. Hungary (ICSID Case No. ARB/13/35) France - Hungary BIT (1986) ICSID ICSID Investment: Company engaged in the sale of social vouchers in Hungary.

Summary: Claims arising out of the enactment of legislation granting the Government a monopoly over the prepaid corporate vouchers industry, allegedly introducing a State-run voucher system with conditions more favorable than those granted to private operators.
Company engaged in the sale of social vouchers in Hungary. Pending Hungary France Tertiary: N - Administrative and support service activities 82 - Office administrative, office support and other business support activities Böckstiegel, K.-H. - President

Fortier, L. Y. - Claimant

Bethlehem, D. - Respondent
Data not available Data not available Data not available Pending Decision on Jurisdiction dated 3 March 2016 None None None None None None
14 2013 RECOFI v. Viet Nam RECOFI v. Viet Nam France - Viet Nam BIT (1992) UNCITRAL PCA Investment: Claims to money for outstanding payments concerning RECOFI's participation in a State-run food assistance programme.

Summary: Claims arising out of alleged outstanding payments by the Government concerning claimant's participation in an assistance programme that provided food and basic commodities to Viet Nam when the country faced food shortages in 1987.
Claims to money for outstanding payments concerning RECOFI's participation in a State-run food assistance programme. Decided in favour of State Viet Nam France Secondary: C - Manufacturing

Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles
10 - Manufacture of food products

46 - Wholesale trade, except of motor vehicles and motorcycles
Hanotiau, B. - President

Alexandrov, S. A. - Claimant

Thomas, J. C. - Respondent
66.00 mln USD Data not available Data not available None - jurisdiction declined Final Award dated 28 September 2015 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the Federal Supreme Court of Switzerland dated 20 September 2016 (Judicial review by national courts) None None
15 2012 Bidzina Ivanishvili v. Georgia Bidzina Ivanishvili v. Georgia (ICSID Case No. ARB/12/27) France - Georgia BIT (1997) ICSID ICSID Investment: Shareholding in two Georgian commercial banks: JSC Cartu Bank and JSC Progress Bank.

Summary: Claims arising out of legislative amendments passed by the Government that allegedly gave tax authorities priority over the secured claims of financial institutions, among other measures, which the claimant considered to be designed specifically to target the two commercial banks in which it had invested.
Shareholding in two Georgian commercial banks: JSC Cartu Bank and JSC Progress Bank. Discontinued Georgia France Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Tribunal not constituted 186.00 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
Not applicable - settled or discontinued before decision on liability Procedural order issued by the Secretary-General taking note of the discontinuance of the proceeding dated 10 December 2012, pursuant to ICSID Arbitration Rule 44 None None None None None None
16 2012 Saint-Gobain v. Venezuela Saint-Gobain Performance Plastics Europe v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/13) France - Venezuela, Bolivarian Republic of BIT (2001) ICSID ICSID Investment: Shareholding in a local proppant manufacturing company.

Summary: Claims arising out of the Government's issuance of Decree no. 8.133 that expropriated Norpro de Venezuela, a local manufacturer of proppant (a type of material used in hydraulic fracturing of oil and gas wells) in which the claimant had invested.
Shareholding in a local proppant manufacturing company. Pending Venezuela, Bolivarian Republic of France Secondary: C - Manufacturing 32 - Other manufacturing Sachs, K. - President

Brower, C. N. - Claimant

Bottini, G. - Respondent
Data not available Data not available Direct expropriation Pending None None None None None None None
17 2012 Slovak Gas v. Slovakia Slovak Gas Holding BV, GDF International SAS and E.ON Ruhrgas International GmbH v. Slovak Republic (ICSID Case No. ARB/12/7) The Energy Charter Treaty ICSID ICSID Investment: Shareholding of 49 per cent in the Slovakian natural gas supplier Slovenský plynárenský priemysel (SPP).

Summary: Claims arising out of legislative amendments affecting Slovakian price regulation in the gas sector that were allegedly in contravention of certain shareholder's agreement concluded between the claimants and Slovakia, among other actions allegedly resulting in financial losses for claimants' investment in a Slovakian gas company.
Shareholding of 49 per cent in the Slovakian natural gas supplier Slovenský plynárenský priemysel (SPP). Settled Slovakia France

Germany

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Landau, T. - President

Douglas, Z. - Claimant

Thomas, J. C. - Respondent
Data not available Non-pecuniary relief Indirect expropriation Not applicable - settled or discontinued before decision on liability Settlement deed dated 14 December 2012

Award embodying the parties' settlement agreement dated 19 March 2013
None None None None None None
18 2012 Veolia v. Egypt Veolia Propreté v. Arab Republic of Egypt (ICSID Case No. ARB/12/15) Egypt - France BIT (1974) ICSID ICSID Investment: Rights under a 15-year contract concluded with the governorate of Alexandria to provide waste management services in that city.

Summary: Claims arising out of disagreements over the performance of a contract entered into between Veolia's subsidiary, Onyx Alexandria, and the governorate of Alexandria to provide waste management services, including Egypt's alleged refusal to modify the contract in response to inflation and the enactment of new labour legislation.
Rights under a 15-year contract concluded with the governorate of Alexandria to provide waste management services in that city. Pending Egypt France Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Yusuf, A. A. - President

Sachs, K. - Claimant

Douglas, Z. - Respondent
Data not available Data not available Data not available Pending Decision on Objections to Jurisdiction dated 13 April 2015 None None None None None None
19 2011 Arif v. Moldova Mr. Franck Charles Arif v. Republic of Moldova (ICSID Case No. ARB/11/23) France - Moldova, Republic of BIT (1997) ICSID ICSID Investment: Ownership of the Moldovan company Le Bridge, which had won a tender to set up and run a network of five duty free stores at the border with Romania; rights under related lease agreements; construction of four duty free stores; related authorizations and licenses.

Summary: Claims arising out of the alleged Government interference in the investor's duty-free business at Chisinau Airport and at five border stores with Romania which delayed or prevented the opening of such duty free stores.
Ownership of the Moldovan company Le Bridge, which had won a tender to set up and run a network of five duty free stores at the border with Romania; rights under related lease agreements; construction of four duty free stores; related authorizations and licenses. Decided in favour of investor Moldova, Republic of France Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 47 - Retail trade, except of motor vehicles and motorcycles Cremades, B. M. - President

Hanotiau, B. - Claimant

Knieper, R. - Respondent
27.90 mln EUR (36.30 mln USD) 35.10 mln MDL (2.70 mln USD)
Non-pecuniary relief
Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 8 April 2013 None None None None None None
20 2011 Dialasie v. Vietnam Dialasie SAS v. Socialist Republic of Vietnam France - Viet Nam BIT (1992) UNCITRAL PCA Investment: Ownership of local subsidiary that operated a nephrology and dialysis clinic in Viet Nam.

Summary: Claims arising out of the alleged Government's closure of a private nephrology and dialysis clinic in Ho Chi Minh City operated by claimant's local subsidiary.
Ownership of local subsidiary that operated a nephrology and dialysis clinic in Viet Nam. Decided in favour of State Viet Nam France Tertiary: Q - Human health and social work activities 86 - Human health activities Hobér, K. - President

Jacquet, J.-M. - Claimant

Moser, M. J. - Respondent
47.00 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
None - all claims dismissed at the merits stage Award dated 17 November 2014 None None None None None None
21 2011 Levy and Gremcitel v. Peru Renée Rose Levy and Gremcitel S.A. v. Republic of Peru (ICSID Case No. ARB/11/17) France - Peru BIT (1993) ICSID ICSID Investment: Direct and indirect controlling shareholding in Peruvian company that held title to three parcels of land located in the Municipality of Chorrillos, Peru.

Summary: Claims arising out of disagreements between the parties concerning the legal effects of three sales contracts of land for a property development project, and the issuance of a resolution by Peru's National Institute of Culture establishing boundaries delimitations that allegedly imposed on the land an intangibility status which did not exist until then and hence rendered claimants' project meaningless.
Direct and indirect controlling shareholding in Peruvian company that held title to three parcels of land located in the Municipality of Chorrillos, Peru. Decided in favour of State Peru France Tertiary: L - Real estate activities 68 - Real estate activities Kaufmann-Kohler, G. - President

Zuleta, E. - Claimant

Vinuesa, R. E. - Respondent
41000.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims None - jurisdiction declined Award dated 9 January 2015 None None None None None None
22 2010 De Levi v. Peru Renée Rose Levy de Levi v. Republic of Peru (ICSID Case No. ARB/10/17) France - Peru BIT (1993) ICSID ICSID Investment: Shareholding in the French-owned banking institution Banco Nuevo Mundo (BNM).

Summary: Claims arising out of an emergency regime for financial institutions put in place by Peru in 2000 to facilitate the restructuring of the banking sector and alleged measures by the oversight agency for banking, SBS, leading to the bankruptcy of the bank in which the claimant had invested after considering that the institution had failed to meet payment obligations.
Shareholding in the French-owned banking institution Banco Nuevo Mundo (BNM). Decided in favour of State Peru France Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Oreamuno Blanco, R. - President

Morales Godoy, J. - Claimant

Hanotiau, B. - Respondent
6989.00 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
None - all claims dismissed at the merits stage Award dated 26 February 2014 Dissenting Opinion of Prof. Joaquín Morales Godoy (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding issued by the ad hoc Committee dated 24 September 2014, pursuant to ICSID Arbitration Rule 44 (ICSID annulment proceedings) None Townsend, J. M. - President

Bucher, A. - Member

Shin, H.-T. - Member
23 2009 EDF v. Hungary Electricite de France (EDF) International S.A. v. Republic of Hungary The Energy Charter Treaty UNCITRAL PCA Investment: Majority shareholding in Budapesti Eromu ZRt, an electricity company that operated several plants under long-term power purchase agreements with Hungary’s state electricity company.

Summary: Claims arising out of the Government's termination of certain long-term power purchase agreements concluded between EDF’s local subsidiary and the State-owned energy company MVM, following a ruling by the European Commission declaring that the agreements were illegal under EU State aid rules and should be terminated.
Majority shareholding in Budapesti Eromu ZRt, an electricity company that operated several plants under long-term power purchase agreements with Hungary’s state electricity company. Decided in favour of investor Hungary France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Böckstiegel, K.-H. - President

Dupuy, P.-M. - Claimant

van den Berg, A. J. - Respondent
100.00 mln USD 107.00 mln EUR (132.60 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

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

Other
Award dated 3 December 2014 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Swiss Federal Supreme Court Decision on Set-Aside of Award dated 6 October 2015 (Judicial review by national courts) None None
24 2009 Servier v. Poland Les Laboratoires Servier, S.A.S., Biofarma, S.A.S., Arts et Techniques du Progres S.A.S. v. Republic of Poland France - Poland BIT (1989) UNCITRAL PCA Investment: Data not available

Summary: Claims arising out of the Government's withdrawal of Servier’s marketing authorisations for certain medicines, in the context of Poland’s accession to the European Union and its enactment of a series of legislative and administrative reforms to harmonise its regulation of pharmaceuticals with that of the European Union.
Data not available Decided in favour of investor Poland France Secondary: C - Manufacturing 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations Park, W. W. - President

Hanotiau, B. - Unknown

Lalonde, M. - Unknown
220.00 mln EUR (300.00 mln USD) 4.00 mln EUR (5.00 mln USD) Indirect expropriation

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

Full protection and security, or similar

National treatment

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation Interim Award on Jurisdiction dated 3 December 2010

Award dated 14 February 2012
None None None None None None
25 2007 CIM v. Ethiopia Compagnie International de Maintenance (CIM) v. Ethiopia Ethiopia - France BIT (2003) UNCITRAL None Investment: Claims to money under an ICC arbitral award rendered in claimant's favor and/or out of a contract concluded between the investor and a partly Ethiopian-owned enterprise for the upkeep and maintenance of a rail track in Ethiopia.

Summary: Claims arising out of the investor's failure to enforce an ICC arbitral award in Ethiopian courts relating to outstanding payments for equipment delivered by the claimant under a railroad maintenance contract concluded with a partly Ethiopian-owned enterprise, Chemin de Fer Djibouti-Ethiopien.
Claims to money under an ICC arbitral award rendered in claimant's favor and/or out of a contract concluded between the investor and a partly Ethiopian-owned enterprise for the upkeep and maintenance of a rail track in Ethiopia. Decided in favour of State Ethiopia France Tertiary: H - Transportation and storage 49 - Land transport and transport via pipelines Silva Romero, E. - President

Duprey, P. - Claimant

Wetmore, T. - Respondent
7.60 mln FRF (1.00 mln USD) Data not available Data not available None - jurisdiction declined Award issued in 2009 (not public) None Data not available Data not available Data not available Data not available Data not available
26 2007 Société Générale v. Dominican Republic Société Générale in respect of DR Energy Holdings Limited and Empresa Distribuidora de Electricidad del Este, S.A. v. The Dominican Republic Dominican Republic - France BIT (1999) UNCITRAL LCIA Investment: Indirect ownership of a Cayman Islands-incorporated company which in turned owned 50 per cent of a Dominican joint venture created between the Government and a foreign investor to serve as an electricity distribution company.

Summary: Claims arising out of the Government's alleged wrongful interference with the claimant's indirect holdings in an electricity joint venture (Empresa Distribuidora de Electricidad del Este, S.A.) by, among other alleged actions and omissions, failing to pay compensation for negotiated tariffs and subsidies.
Indirect ownership of a Cayman Islands-incorporated company which in turned owned 50 per cent of a Dominican joint venture created between the Government and a foreign investor to serve as an electricity distribution company. Settled Dominican Republic France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Orrego Vicuña, F. - President

Bishop, D. - Claimant

Cremades, B. M. - Respondent
680.00 mln USD 26.50 mln USD 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
Not applicable - settled or discontinued before decision on liability Award on Preliminary Objections to Jurisdiction dated 19 September 2008 None None None None None None
27 2006 Vivendi v. Poland Vivendi v. Republic of Poland France - Poland BIT (1989) UNCITRAL Data not available Investment: Interests in a Polish joint venture engaged in the telecommunications sector.

Summary: Claims arising out of the alleged mishandling by Polish courts of a number of lawsuits arising out of a commercial dispute over the ownership of a cellular communications company.
Interests in a Polish joint venture engaged in the telecommunications sector. Settled Poland France Tertiary: J - Information and communication 61 - Telecommunications Sachs, K. - President

Fadlallah, I. - Unknown

Furtek, M. - Unknown
Data not available Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Not applicable - settled or discontinued before decision on liability Settlement agreement dated April 2011 None None None None None None
28 2004 BNP Paribas v. India BNP Paribas v. Republic of India France - India BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India France 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
29 2004 Credit Lyonnais v. India Credit Lyonnais S.A. (now Calyon S.A.) v. Republic of India France - India BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India France 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
30 2004 France Telecom v. Argentina France Telecom S.A. v. Argentine Republic (ICSID Case No. ARB/04/18) Argentina - France BIT (1991) ICSID ICSID Investment: Shareholding in local company that had a concession agreement for telecommunication services.

Summary: Claims arising out of the Government's modification of the tariff structure applicable to the claimant's investment, as part of a series of other measures undertaken by Argentina during its financial crisis.
Shareholding in local company that had a concession agreement for telecommunication services. Settled Argentina France Tertiary: J - Information and communication 61 - Telecommunications Tribunal not constituted 300.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Acting Secretary-General dated 29 March 2006, pursuant to ICSID Arbitration Rule 44 None None None None None None
31 2004 Gemplus v. Mexico Gemplus, S.A., SLP, S.A., and Gemplus Industrial S.A. de C.V. v. United Mexican States (ICSID Case No. ARB(AF)/04/3) France - Mexico BIT (1998) ICSID AF ICSID Investment: Minority shareholding in local company that had a concession agreement with the Mexican Ministry of Economy.

Summary: Claims arising out of the revocation of a concession granted by the federal government to operate a national vehicle registry.
Minority shareholding in local company that had a concession agreement with the Mexican Ministry of Economy. Decided in favour of investor Mexico France Tertiary: M - Professional, scientific and technical activities 74 - Other professional, scientific and technical activities Veeder, V. V. - President

Fortier, L. Y. - Claimant

Magallón Gómez, E. - Respondent
340.00 mln MXN (37.00 mln USD) 4.50 mln USD 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

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 16 June 2010 None None None None None None
32 2004 SAUR v. Argentina SAUR International v. Argentine Republic (ICSID Case No. ARB/04/4) Argentina - France BIT (1991) ICSID ICSID Investment: Indirect and minority shareholding in a formerly State-owned water and sewerage Argentinean company holding a concession agreement for related services.

Summary: Claims arising out of the alleged failure of the government of the Argentine province of Mendoza to implement service tariff increases under an agreement between Saur's subsidiary and the federal government, in the wake of the State's 2001-2002 economic crisis.
Indirect and minority shareholding in a formerly State-owned water and sewerage Argentinean company holding a concession agreement for related services. Decided in favour of investor Argentina France 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
Fernández-Armesto, J. - President

Hanotiau, B. - Claimant

Tomuschat, C. - Respondent
143.90 mln USD 39.90 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
Decision on Objections to Jurisdiction dated 27 February 2006

Decision on Jurisdiction and Liability dated 6 June 2012

Award dated 22 May 2014
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 19 December 2016 (ICSID annulment proceedings) None Zuleta, E. - President

Castellanos Howell, A. R. - Member

Yusuf, A. A. - Member
33 2004 Total v. Argentina Total S.A. v. Argentine Republic (ICSID Case No. ARB/04/1) Argentina - France BIT (1991) ICSID ICSID Investment: Majority and minority shareholding interests in companies operating in the gas transportation, exploration and production and power generation sectors, as well as various related licences, rights, concessions and loans.

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.
Majority and minority shareholding interests in companies operating in the gas transportation, exploration and production and power generation sectors, as well as various related licences, rights, concessions and loans. Decided in favour of investor Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Sacerdoti, G. - President

Álvarez, H. C. - Claimant

Herrera Marcano, L. - Respondent
940.00 mln USD 269.90 mln USD Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Decision on Liability dated 27 December 2010

Decision on Objections to Jurisdiction dated 25 August 2006

Award dated 27 November 2013
Dissenting Opinion of Henri Álvarez (Decision on Liability)

Concurring Opinion of Luis Herrera Marcano (Decision on Liability)

Dissenting Opinion of Henri Álvarez

Dissenting Opinion of Luis Herrera Marcano
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 1 February 2016 (ICSID annulment proceedings) None Zuleta, E. - President

Castellanos Howell, A. R. - Member

Cheng, T. - Member
34 2003 EDF and others v. Argentina EDF International S.A., SAUR International S.A. and León Participaciones Argentinas S.A. v. Argentine Republic (ICSID Case No. ARB/03/23) Argentina - France BIT (1991)

Argentina - BLEU (Belgium-Luxembourg Economic Union) BIT (1990)
ICSID ICSID Investment: Controlling interest in company that had a concession agreement relating to the transmission and distribution of electricity.

Summary: Claims arising out of a series of alleged acts and omissions by Argentina, including pre-emergency measures, emergency tariff measures, and certain renegotiation process that negatively affected the claimants' investment.
Controlling interest in company that had a concession agreement relating to the transmission and distribution of electricity. Decided in favour of investor Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Kaufmann-Kohler, G. - Claimant

De Trazegnies Granda, F. - Respondent (replaced)

Remón Peñalver, J. - Respondent
270.00 mln USD 136.00 mln USD Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

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

Umbrella clause
Decision on Jurisdiction dated 5 August 2008

Award dated 11 June 2012
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 5 February 2016 (ICSID annulment proceedings) None Greenwood, C. - President

Cheng, T. - Member

Taniguchi, Y. - Member
35 2003 Electricidad Argentina and EDF International v. Argentina Electricidad Argentina S.A. and EDF International S.A. v. Argentine Republic (ICSID Case No. ARB/03/22) Argentina - France BIT (1991) ICSID ICSID Investment:

Summary: Claims arising out of claimants' investment in an electricity distribution enterprise.
Pending Argentina France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Kaufmann-Kohler, G. - Claimant

De Trazegnies Granda, F. - Respondent
1200.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
36 2003 Suez and Interagua v. Argentina Suez, Sociedad General de Aguas de Barcelona, S.A. and Interagua Servicios Integrales de Agua, S.A. v. Argentine Republic (ICSID Case No. ARB/03/17) Argentina - France BIT (1991)

Argentina - Spain BIT (1991)
ICSID ICSID Investment: Shareholding in local company that had a concession for water distribution and waste water treatment services in the Argentine Province of Santa Fe.

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 Argentine Province of Santa Fe. Data not available Argentina France 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
257.70 mln USD Data not available Direct expropriation

Indirect expropriation

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

Full protection and security, or similar
Data not available Decision on Liability dated 30 July 2010

Decision on Jurisdiction dated 16 May 2006

Award dated 4 December 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) None None None None None
37 2003 Vivendi v. Argentina (II) Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A. (formerly Aguas Argentinas, S.A., Suez, Sociedad General de Aguas de Barcelona, S.A. and Vivendi Universal, S.A.) v. Argentine Republic (II) (ICSID Case No. ARB/03/19) Argentina - France BIT (1991)

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

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

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

Kaufmann-Kohler, G. - Claimant

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

Indirect expropriation

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

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

Decision on Jurisdiction dated 3 August 2006

Award dated 9 April 2015
Separate Opinion of Arbitrator Pedro Nikken (Decision on Liability) ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Sachs, K. - President

Carmichael, T. A. - Member

Oreamuno Blanco, R. - Member
38 2002 France Telecom v. Lebanon France Telecom v. Lebanon France - Lebanon BIT (1996) UNCITRAL None Investment: Rights under a contract to operate a GSM mobile telephone network.

Summary: Claims arising out of the Government's termination of a contract entered into with the investor to implement cellular GSM services in Lebanon.
Rights under a contract to operate a GSM mobile telephone network. Decided in favour of investor Lebanon France Tertiary: J - Information and communication 61 - Telecommunications Audit, B. - President

Lalonde, M. - Unknown

Akl, A. - Unknown
952.00 mln USD 266.00 mln USD Data not available Data not available Award dated 22 February 2005 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Swiss Federal Tribunal, Recours de droit public contre la sentence du Tribunal arbitral du 7 avril 2005, 4P.154/2005/sYC, dated 10 November 2005 (Judicial review by national courts) None None
39 1998 Compagnie Minière v. Peru Compagnie Minière Internationale Or S.A. v. Republic of Peru (ICSID Case No. ARB/98/6) France - Peru BIT (1993) ICSID ICSID Investment: Shareholding in project company for the construction and operation of a gold mine in Peru.

Summary: Claims arising out of disagreements over a gold exploitation project for the construction and operation of a gold mine in the highlands of northern Peru.
Shareholding in project company for the construction and operation of a gold mine in Peru. Settled Peru France Primary: B - Mining and quarrying 7 - Mining of metal ores Brownlie, I. - President

Álvarez, H. C. - Claimant

Highet, K. - 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 Secretary-General dated 23 February 2001, pursuant to Arbitration Rule 43(1) None None None None None None
40 1997 Vivendi v. Argentina (I) Compañía de Aguas del Aconquija S.A. and Vivendi Universal S.A. (formerly Compañía de Aguas del Aconquija, S.A. and Compagnie Générale des Eaux) v. Argentine Republic (I) (ICSID Case No. ARB/97/3) Argentina - France BIT (1991) ICSID ICSID Investment: Rights under a concession contract concluded between claimant's Argentine affiliate company and the Province of Tucumán for operating the water and sewage system of Tucumán.

Summary: Claims arising out of a series of decrees, resolutions, laws, and legal opinions of the Argentine Republic and its constituent Province of Tucumán which were allegedly designed to undermine the operation of a thirty-year water and sewerage concession contract.
Rights under a concession contract concluded between claimant's Argentine affiliate company and the Province of Tucumán for operating the water and sewage system of Tucumán. Decided in favour of investor Argentina France 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
Rezek, F. - President

Trooboff, P. D. - Claimant

Buergenthal, T. - Respondent
317.00 mln USD 105.00 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
Award dated 21 November 2000 None ICSID annulment proceedings

ICSID resubmission proceedings

ICSID annulment proceedings
Award/decision partially annulled (ICSID annulment proceedings)

Decided in favour of the investor (ICSID resubmission proceedings)

Award/decision upheld (ICSID annulment proceedings)
Decision on Annulment dated 3 July 2002 (ICSID annulment proceedings)

Award II dated 20 August 2007 (ICSID resubmission proceedings)

Decision on the Argentine Republic’s Request for Annulment of the Award rendered on 20 August 2007 dated 10 August 2010 (ICSID annulment proceedings)
None Fortier, L. Y. - President

Crawford, J. R. - Member

Fernández Rozas, J. C. - Member

El-Kosheri, A. S. - President

Jacovides, A. J. - Member

Dalhuisen, J. H. - Member
41 1996 France Telecom v. Poland France Telecom v. Republic of Poland France - Poland BIT (1989) UNCITRAL Data not available Investment: Shareholding in local cellular phone company.

Summary: Claims arising out of certain telecommunications statutory enactment overturning a Government's letter of intent which contained Poland's commitment to award the claimant digital cellular licenses.
Shareholding in local cellular phone company. Settled Poland France Tertiary: J - Information and communication 61 - Telecommunications Data not available 500.00 mln USD 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