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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

Germany - as home State

Clear selection
Loaded 59 out of 59 Show all
No. Year of
initiation
Short case
name
Summary Outcome of
original proceedings
Respondent
State
Home State
of investor
1 2017 DCM Energy and others v. Spain DCM Energy GmbH & Co. Solar 1 KG, DCM Energy GmbH & Co. Solar 2 KG, Edisun Power Europe A.G., Hannover Leasing Sun Invest 2 Spanien Beteiligungs GmbH, and Hannover Leasing Sun Invest 2 Spanien GmbH & Co. KG v. Kingdom of Spain (ICSID Case No. ARB/17/41) The Energy Charter Treaty (1994) ICSID ICSID Investment:

Summary:
Pending Spain Germany

Switzerland
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending None None None None None None None
2 2017 Hela Schwarz v. China Hela Schwarz GmbH v. People's Republic of China (ICSID Case No. ARB/17/19) China - Germany BIT (2003) ICSID ICSID Investment:

Summary:
Pending China Germany Secondary: C - Manufacturing 10 - Manufacture of food products Data not available Data not available Data not available Data not available Pending None None None None None None None
3 2017 Portigon v. Spain Portigon AG v. Kingdom of Spain (ICSID Case No. ARB/17/15) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in three solar power plants with an output of 150 megawatts as part of a consortium of banks.

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 three solar power plants with an output of 150 megawatts as part of a consortium of banks. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending None None None None None None None
4 2016 A.M.F. Aircraftleasing v. Czech Republic A.M.F. Aircraftleasing Meier & Fischer GmbH & Co. KG v. Czech Republic Czech Republic - Germany BIT (1990) Data not available Data not available Investment: Ownership of two aircrafts and related leasing activities.

Summary: Claims arising out of acts of Czech bankruptcy administrators and courts concerning two aircrafts that are allegedly owned by the claimant and were wrongly included in the bankruptcy proceedings of Czech company Air Charter Ltd, which had leased the planes. The aircrafts were subsequently sold as part of the bankruptcy proceedings.
Ownership of two aircrafts and related leasing activities. Pending Czech Republic Germany Tertiary: N - Administrative and support service activities 77 - Rental and leasing activities Tercier, P. - President

Alexandrov, S. A. - Claimant

Kalicki, J. E. - Respondent
125.20 mln USD Data not available Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Pending None None None None None None None
5 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
6 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
7 2016 ESPF and others v. Italy ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH, and InfraClass Energie 5 GmbH & Co. KG v. Italian Republic (ICSID Case No. ARB/16/5) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprise.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in renewable energy generation enterprise. Pending Italy Austria

Germany
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Álvarez, H. C. - President

Pryles, M. C. - Claimant

Boisson de Chazournes, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
8 2015 BayWa r.e. v. Spain BayWa r.e. Renewable Energy GmbH and BayWa r.e. Asset Holding GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/16) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in the Spanish solar energy sector; including majority ownership of a 99-megawatt solar power plant in Aragon, a 70-megawatt solar power plant in Valencia and investments in solar power plants in Barcelona, Mallorca and Madrid.

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 the Spanish solar energy sector; including majority ownership of a 99-megawatt solar power plant in Aragon, a 70-megawatt solar power plant in Valencia and investments in solar power plants in Barcelona, Mallorca and Madrid. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Malintoppi, L. - Respondent

Grigera Naón, H. A. - Claimant

Crawford, J. R. - President
Data not available Data not available Data not available Pending None None None None None None None
9 2015 E.ON SE and others v. Spain E.ON SE, E.ON Finanzanlagen GmbH and E.ON Iberia Holding GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/35) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in solar, wind and mini-hydro electric power plants 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.
Investments in solar, wind and mini-hydro electric power plants in Spain. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kantor, M. - President

Orrego Vicuña, F. - Claimant

Boisson de Chazournes, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
10 2015 El Jaouni v. Lebanon Abed El Jaouni and Imperial Holding SAL v. Lebanese Republic (ICSID Case No. ARB/15/3) Germany - Lebanon BIT (1997) ICSID ICSID Investment: Ownership of company ImperialJet, which operates a fleet of private jets for charter and lease throughout Europe and the Middle East.

Summary: Claims arising out of the alleged expropriation and unlawful revocation of aviation licenses by the Lebanese government from the claimant's subsidiary, ImperialJet.
Ownership of company ImperialJet, which operates a fleet of private jets for charter and lease throughout Europe and the Middle East. Pending Lebanon Germany Tertiary: H - Transportation and storage 51 - Air transport van den Berg, A. J. - President

Rowley, J. W. - Claimant

Oreamuno Blanco, R. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
11 2015 Kruck and others v. Spain Frank Schumm, Joachim Kruck, Jürgen Reiss and others v. Kingdom of Spain (ICSID Case No. ARB/15/23) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic power plant facilities in different regions of 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.
Investments in photovoltaic power plant facilities in different regions of Spain. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Born, G. B. - Claimant

Lowe, V. - President

Douglas, Z. - Respondent
Data not available Data not available Data not available Pending Decision on the Respondent’s preliminary objections pursuant to ICSID Arbitration Rule 41(5) dated 14 March 2016 None None None None None None
12 2015 KS and TLS Invest v. Spain KS Invest GmbH and TLS Invest GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/25) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a renewable energy generation enterprise.

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 a renewable energy generation enterprise. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Simma, B. - President

Bethlehem, D. - Respondent

Born, G. B. - Unknown
Data not available Data not available Data not available Pending None None None None None None None
13 2015 Landesbank Baden-Württemberg and others v. Spain Landesbank Baden-Württemberg, HSH Nordbank AG, Landesbank Hessen-Thüringen Girozentrale and Norddeutsche Landesbank-Girozentrale v. Kingdom of Spain (ICSID Case No. ARB/15/45) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprises (photovoltaic and solar thermal 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 renewable energy generation enterprises (photovoltaic and solar thermal plants). Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Greenwood, C. - President

Poncet, C. - Claimant

Oreamuno Blanco, R. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
14 2015 Solarpark v. Spain Solarpark Management GmbH & Co. Atum I KG v. Kingdom of Spain (SCC Case No. 2015/163) 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.
Discontinued Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 6.10 mln EUR (7.10 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
15 2015 SolEs Badajoz v. Spain SolEs Badajoz GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/38) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a Spanish solar energy production company.

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 a Spanish solar energy production company. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Donoghue, J. E. - President

Alexandrov, S. A. - Claimant (replaced)

Joubin-Bret, A. - Respondent (replaced)

Williams, D. A. R. - Claimant

Sacerdoti, G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
16 2015 Stadtwerke München and others v. Spain Stadtwerke München GmbH and others v. Kingdom of Spain (ICSID Case No. ARB/15/1) The Energy Charter Treaty (1994) ICSID ICSID Investment: Majority shareholding in the Spanish thermo solar plant Andasol located in Granada and held by the Spanish project company Marquesado Solar S.L.

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 in the Spanish thermo solar plant Andasol located in Granada and held by the Spanish project company Marquesado Solar S.L. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Hobér, K. - Claimant

Douglas, Z. - Respondent

Salacuse, J. W. - President
Data not available Data not available Data not available Pending None None None None None None None
17 2015 STEAG v. Spain STEAG GmbH v. Kingdom of Spain (ICSID Case No. ARB/15/4) The Energy Charter Treaty (1994) ICSID ICSID Investment: Shareholding in the Spanish thermosolar power plant Arenales.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector.
Shareholding in the Spanish thermosolar power plant Arenales. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tawil, G. S. - Claimant

Dupuy, P.-M. - Respondent

Zuleta, E. - President
Data not available Data not available Data not available Pending None None None None None None None
18 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 (1994) 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. Decided in favour of State 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
187.80 mln EUR (196.30 mln USD) Data not available Indirect expropriation

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

Other
None - all claims dismissed at the merits stage Award dated 27 December 2016 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None McRae, D. M. - President

Khan, M. A. - Member

Shin, H.-T. - Member
19 2014 RWE Innogy v. Spain RWE Innogy GmbH and RWE Innogy Aersa S.A.U. v. Kingdom of Spain (ICSID Case No. ARB/14/34) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of several renewable energy generation enterprises in Spain, including the thermosolar plant Andasol 3 in Granada.

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Ownership of several renewable energy generation enterprises in Spain, including the thermosolar plant Andasol 3 in Granada. Pending Spain Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kessler, J. L. - Claimant

Wordsworth, S. - President

Joubin-Bret, A. - Respondent
82.00 mln EUR (97.00 mln USD) Data not available Data not available Pending None None None None None None None
20 2013 Antaris v. Czech Republic Antaris Solar GmbH and Dr. Michael Göde v. The Czech Republic Germany - Slovakia BIT (1990)

The Energy Charter Treaty (1994)
UNCITRAL PCA Investment: Equity interests in several Czech energy companies engaged in the photovoltaic sector.

Summary: Claims arising out of amendments to the pre-existing incentive regime applicable to renewable energy, including the introduction of a levy on electricity generated from solar power plants.
Equity interests in several Czech energy companies engaged in the photovoltaic sector. Pending Czech Republic Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Collins, L. - President

Bishop, D. - Claimant (replaced)

Tomka, P. - Respondent

Born, G. B. - Claimant
70.00 mln EUR (90.80 mln USD) Data not available Data not available Pending None None None None None None None
21 2013 Deutsche Telekom v. India Deutsche Telekom v. India Germany - India BIT (1995) UNCITRAL Data not available Investment: Indirect shareholding (20 per cent stake via a Singaporean subsidiary) in the Indian company Devas Multimedia, that had concluded contracts with Antrix -related to the Indian Space Research Organisation- for the launch and operation of two satellites.

Summary: Claims arising out of the Government's cancellation of a contract concluded with Devas, a company in which the claimant held interests, concerning the provision of broadband services to Indian consumers.
Indirect shareholding (20 per cent stake via a Singaporean subsidiary) in the Indian company Devas Multimedia, that had concluded contracts with Antrix -related to the Indian Space Research Organisation- for the launch and operation of two satellites. Pending India Germany Tertiary: J - Information and communication 61 - Telecommunications Kaufmann-Kohler, G. - President

Price, D. M. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
22 2013 JSW Solar and Wirtgen v. Czech Republic JSW Solar (zwei) GmbH & Co.KG, Gisela Wirtgen, Jürgen Wirtgen, and Stefan Wirtgen v. Czech Republic (PCA Case No. 2014-03) Czech Republic - Germany BIT (1990) UNCITRAL PCA 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. Decided in favour of State Czech Republic Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kaufmann-Kohler, G. - President

Born, G. B. - Claimant

Tomka, P. - Respondent
500.00 mln CZK (22.90 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause
None - all claims dismissed at the merits stage Final Award dated 11 October 2017 Dissenting Opinion of Gary B. Born None None None None None
23 2013 Photovoltaik Knopf Betriebs v. The Czech Republic Photovoltaik Knopf Betriebs-GmbH v. The Czech Republic Czech Republic - Germany BIT (1990)

The Energy Charter Treaty (1994)
UNCITRAL Data not available 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 Germany 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
24 2013 Utsch and others v. Egypt Erich Utsch Aktiengesellschaft, Helmut Jungbluth and Utsch M.O.V.E.R.S. International GmbH v. Arab Republic of Egypt (ICSID Case No. ARB/13/37) Egypt - Germany BIT (2005) ICSID ICSID Investment: Rights under a contract concluded with Egypt's Ministry of Finance for the manufacture and delivery of 9 million vehicle license plates.

Summary: Claims arising out of the Government's termination of a license plate supply and manufacturing contract concluded with the claimants, on the alleged basis that the transaction was closed for an uncompetitive price, leading to the conviction of Utsch's chief executive officer.
Rights under a contract concluded with Egypt's Ministry of Finance for the manufacture and delivery of 9 million vehicle license plates. Discontinued Egypt Germany Secondary: C - Manufacturing 32 - Other manufacturing van Houtte, H. - President

Ali, A. H. - Claimant

Clodfelter, M. A. - 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 Pursuant to ICSID Arbitration Rule 44 dated 18 April 2017 None None None None None None
25 2013 Voltaic Network v. The Czech Republic Voltaic Network GmbH v. The Czech Republic Czech Republic - Germany BIT (1990)

The Energy Charter Treaty (1994)
UNCITRAL Data not available 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 Germany 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
26 2012 Ampal-American and others v. Egypt Ampal-American Israel Corp., EGI-Fund (08-10) Investors LLC, EGI-Series Investments LLC, BSS-EMG Investors LLC and David Fischer v. Arab Republic of Egypt (ICSID Case No. ARB/12/11) Egypt - United States of America BIT (1986)

Egypt - Germany BIT (2005)
ICSID ICSID Investment: Shareholding in a consortium that held a long term gas supply contract with the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holdings.

Summary: Claims arising out of alleged breaches of a long term contract for the supply of natural gas between the parties, including the prolonged interruption of gas supply and failure to deliver the agreed volume of gas.
Shareholding in a consortium that held a long term gas supply contract with the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holdings. Pending Egypt United States of America

Germany
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Fortier, L. Y. - President

Orrego Vicuña, F. - Claimant

McLachlan, C. A. - Respondent
535.10 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation

Full protection and security, or similar
Decision on Jurisdiction dated 1 February 2016

Decision on Liability and Heads of Loss dated 21 February 2017
None None None None None None
27 2012 Gelsenwasser v. Algeria Gelsenwasser AG v. People's Democratic Republic of Algeria (ICSID Case No. ARB/12/32) Algeria - Germany BIT (1996) ICSID ICSID Investment: Rights under a water management contract entered into with the Algerian Government.

Summary: Claims arising out of the early termination of claimant's water management contract by the Government due to an alleged lack of progress in the firm's investment programme.
Rights under a water management contract entered into with the Algerian Government. Discontinued Algeria Germany Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Tribunal not constituted 23.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Secretary-General dated 27 February 2015, pursuant to ICSID Arbitration Rule 43(1) None None None None None None
28 2012 Sana Consulting v. Russia Sana Consulting & Management GmbH v. The Russian Federation Germany - Russian Federation BIT (1989) Ad hoc None Investment: Data not available

Summary: Claims arising out of an investment project in the Kaliningrad Region of Russia.
Data not available Decided in favour of State Russian Federation Germany Data not available Data not available Data not available 30.00 mln USD Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available
29 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 (1994) 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
30 2011 Fraport v. Philippines (II) Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines (II) (ICSID Case No. ARB/11/12) Germany - Philippines BIT (1997) ICSID ICSID Investment: Direct and indirect shareholding in project company that held rights under a concession agreement for building and operating an airport terminal; capital contributions of over USD 420 million.

Summary: Claims arising out of the annulment of a concession contract concluded between the Philippine Department of Transportation and Communication and claimant's company for the construction and operation of an international passenger terminal at Ninoy Aquino International Airport in Manila.
Direct and indirect shareholding in project company that held rights under a concession agreement for building and operating an airport terminal; capital contributions of over USD 420 million. Decided in favour of State Philippines Germany Tertiary: H - Transportation and storage 51 - Air transport Bernardini, P. - President

Alexandrov, S. A. - Claimant

van den Berg, A. J. - Respondent
425.00 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 10 December 2014 None None None None None None
31 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
32 2010 Oiltanking v. Bolivia Oiltanking GmbH, Graña Montero S.A. and Graña Montero S.A.A. v. Bolivia Bolivia, Plurinational State of - Germany BIT (1987)

Bolivia, Plurinational State of - Peru BIT (1993)
UNCITRAL PCA Investment: Shareholding in Compañía Logística de Hidrocarburos de Bolivia, a fuel storage and pipeline company.

Summary: Claims arising out of the Government's 2008 nationalization of the claimants' shares in a company engaged in the transportation and storage of hydrocarbons, following failed negotiations between the State and the company concerning the amount invested and the compensation owed.
Shareholding in Compañía Logística de Hidrocarburos de Bolivia, a fuel storage and pipeline company. Settled Bolivia, Plurinational State of Germany

Peru
Primary: B - Mining and quarrying

Primary: B - Mining and quarrying
6 - Extraction of crude petroleum and natural gas

9 - Mining support service activities
Data not available 30.00 mln USD 16.40 mln USD Direct expropriation

Unclear
Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
33 2010 ST-AD v. Bulgaria ST-AD GmbH v. The Republic of Bulgaria (PCA Case No. 2011-06) Bulgaria - Germany BIT (1986) UNCITRAL PCA Investment: Shareholding in the previously State-owned company LIDI-R that held property title over the land at issue.

Summary: Claims arising out of the alleged Government's unlawful restitution to a family of certain property, including a factory and commercial buildings located on it, on a tract of land in Sofia, Bulgaria.
Shareholding in the previously State-owned company LIDI-R that held property title over the land at issue. Decided in favour of State Bulgaria Germany Tertiary: L - Real estate activities 68 - Real estate activities Stern, B. - President

Klein, B. - Claimant

Thomas, J. C. - Respondent
Data not available Data not available Indirect expropriation None - jurisdiction declined Award on Jurisdiction dated 18 July 2013 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Decision on Enforceability of Award, 1st Civil Division of the Thuringian Higher Regional Court in Jena dated 20 November 2013 (Judicial review by national courts) None None
34 2010 von Pezold and others v. Zimbabwe Bernhard von Pezold and others v. Republic of Zimbabwe (ICSID Case No. ARB/10/15) Germany - Zimbabwe BIT (1995)

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

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

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

Williams, D. A. R. - Claimant

Hwang, M. - Respondent

Chen, A. - Respondent (replaced)

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

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

Full protection and security, or similar

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation

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

Full protection and security, or similar

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

Transfer of funds

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

Kalicki, J. E. - Member

Kettani, A. - Member
35 2009 Deutsche Bank v. Sri Lanka Deutsche Bank AG v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/09/2) Germany - Sri Lanka BIT (2000) ICSID ICSID Investment: Rights under an oil hedging agreement concluded between Deutsche Bank and Sri Lanka’s national petroleum corporation.

Summary: Claims arising out of Deutsche Bank's termination of an oil hedging agreement concluded with Ceylon Petroleum Corporation, Sri Lanka’s national petroleum company, and close-out amounts payable under such contract.
Rights under an oil hedging agreement concluded between Deutsche Bank and Sri Lanka’s national petroleum corporation. Decided in favour of investor Sri Lanka Germany Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Hanotiau, B. - President

Williams, D. A. R. - Claimant

Khan, M. A. - Respondent
60.00 mln USD 60.00 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
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award dated 31 October 2012 Dissenting Opinion of Makhdoom Ali Khan (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) None None Rigo Sureda, A. - President

Danelius, H. - Member

Kettani, A. - Member
36 2009 Dogan v. Turkmenistan Adem Dogan v. Turkmenistan (ICSID Case No. ARB/09/9) Germany - Turkmenistan BIT (1997) ICSID ICSID Investment: Contractual interest in a proportion of the revenue stream of a poultry farm near Ashgebat; capital contributions of around USD 6 million to operate such poultry farm.

Summary: Claims arising out of the alleged expropriation and physical destruction of a poultry farm located near the capital of Ashgabat in which the claimant had invested.
Contractual interest in a proportion of the revenue stream of a poultry farm near Ashgebat; capital contributions of around USD 6 million to operate such poultry farm. Decided in favour of investor Turkmenistan Germany Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Paulsson, J. - President

Wirth, M. - Claimant

Sands, P. - Respondent
45.00 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

Transfer of funds
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Decision on Jurisdiction dated 29 February 2012

Award dated 12 August 2014
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 15 January 2016 (ICSID annulment proceedings) None Bernardini, P. - President

Khan, M. A. - Member

van Haersolte-Van Hof, J. J. - Member
37 2009 ECE v. Czech Republic ECE Projektmanagement International GmbH and Kommanditgesellschaft PANTA Achtungsechzigste Grundstücksgesellschaft mbH & Co v. The Czech Republic Czech Republic - Germany BIT (1990) UNCITRAL PCA Investment: Rights under a planned approval for the construction of a shopping centre in the Czech Republic.

Summary: Claims arising out of the Government's revocation of a planned approval to the claimant for the construction of a shopping centre in Liberec, at the northwest of the Czech Republic.
Rights under a planned approval for the construction of a shopping centre in the Czech Republic. Decided in favour of State Czech Republic Germany Tertiary: L - Real estate activities 68 - Real estate activities Berman, F. - President

Bucher, A. - Claimant

Thomas, J. C. - Respondent
1800.00 mln CZK (95.00 mln USD) Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Final Award dated 19 September 2013 None None None None None None
38 2009 Reinhard Unglaube v. Costa Rica Reinhard Hans Unglaube v. Republic of Costa Rica (ICSID Case No. ARB/09/20) Costa Rica - Germany BIT (1994) ICSID ICSID Investment: Acquisition of land for the development of a tourism project in Costa Rica; particularly, ownership of certain properties on the Playa Grande peninsula.

Summary: Claims arising out of Mr. Unglaube's alleged investment in the ecotourism industry in Costa Rica through the acquisition of land for the development of a tourism project and its subsequent alleged expropriation by the Costa Rican Government.
Acquisition of land for the development of a tourism project in Costa Rica; particularly, ownership of certain properties on the Playa Grande peninsula. Decided in favour of State Costa Rica Germany Tertiary: L - Real estate activities 68 - Real estate activities Kessler, J. L. - President

Berman, F. - Claimant

Cremades, B. M. - Respondent
4.40 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 16 May 2012 None None None None None None
39 2009 Vöcklinghaus v. Czech Republic Peter Franz Vöcklinghaus v. Czech Republic Czech Republic - Germany BIT (1990) UNCITRAL None Investment: Shareholding of 50 per cent in the company KOMFORT V.P. Cihelny, spol. s r.o., engaged in the construction of a professional golf course in the Czech Republic.

Summary: Claims arising out of the alleged forced bankruptcy and takeover of claimant's investment in the Cihelna golf course in the Northwest of the Czech Republic.
Shareholding of 50 per cent in the company KOMFORT V.P. Cihelny, spol. s r.o., engaged in the construction of a professional golf course in the Czech Republic. Decided in favour of State Czech Republic Germany Tertiary: R - Arts, entertainment and recreation 93 - Sports activities and amusement and recreation activities Beechey, J. - President

Klein, B. - Claimant

Lévy, L. - Respondent
60.00 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

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Final Award dated 19 September 2011 None None None None None None
40 2008 GEA v. Ukraine GEA Group Aktiengesellschaft v. Ukraine (ICSID Case No. ARB/08/16) Germany - Ukraine BIT (1993) ICSID ICSID Investment: Capital loans to OJSC Oriana, a former Ukrainian State-owned petrochemicals plant.

Summary: Claims arising out of the alleged misappropriation of diesel and raw materials by a State-owned petrochemical company which were supplied by the investor, and the investor's subsequent failure to collect an ICC award in its favour against such company in Ukrainian courts.
Capital loans to OJSC Oriana, a former Ukrainian State-owned petrochemicals plant. Decided in favour of State Ukraine Germany Secondary: C - Manufacturing 19 - Manufacture of coke and refined petroleum products van den Berg, A. J. - President

Landau, T. - Claimant

Stern, B. - Respondent
30.60 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 31 March 2011 None None None None None None
41 2008 Inmaris Perestroika v. Ukraine Inmaris Perestroika Sailing Maritime Services GmbH and others v. Ukraine (ICSID Case No. ARB/08/8) Germany - Ukraine BIT (1993) ICSID ICSID Investment: Claims to performance under direct and derivative rights under certain bareboat charter contract and related agreements concluded between the claimants and a State-owned entity.

Summary: Claims arising out of a series of contracts concluded between a State-owned education institution of Ukraine and the claimants concerning the use of a windjammer sail training ship and subsequent disagreements regarding the operation of the contracts, including financing options for the reconstruction of the ship, followed by a Government's decision prohibiting the ship to leave Ukrainian territorial waters until clarification of matters relating to its joint operation.
Claims to performance under direct and derivative rights under certain bareboat charter contract and related agreements concluded between the claimants and a State-owned entity. Decided in favour of investor Ukraine Germany Tertiary: H - Transportation and storage 50 - Water transport Alexandrov, S. A. - President

Rubins, N. - Claimant

Cremades, B. M. - Respondent
15.00 mln EUR (23.50 mln USD) 3.00 mln EUR (3.80 mln USD) Indirect expropriation

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

Arbitrary, unreasonable and/or discriminatory measures

Other
Indirect expropriation

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

Arbitrary, unreasonable and/or discriminatory measures
Decision on Jurisdiction dated 8 March 2010

Award dated 1 March 2012
None None None None None None
42 2008 InterTrade v. Czech Republic InterTrade Holding GmbH v. The Czech Republic Czech Republic - Germany BIT (1990) UNCITRAL PCA Investment: Shareholding in the Czech forestry company CE Wood.

Summary: Claims arising out of the Government's alleged misconduct concerning a failed 2005 tender for the privatization of the State's forests.
Shareholding in the Czech forestry company CE Wood. Decided in favour of State Czech Republic Germany Primary: A - Agriculture, forestry and fishing 2 - Forestry and logging Fortier, L. Y. - President

Álvarez, H. C. - Claimant

Stern, B. - Respondent
84.42 mln EUR (105.50 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

National treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Final Award dated 7 June 2012 Dissenting Opinion of Mr. Henri Álvarez (Award) None None None None None
43 2008 Marion Unglaube v. Costa Rica Marion Unglaube v. Republic of Costa Rica (ICSID Case No. ARB/08/1) Costa Rica - Germany BIT (1994) ICSID ICSID Investment: Acquisition of land for the development of a tourism project in Costa Rica; particularly, ownership of certain properties on the Playa Grande peninsula.

Summary: Claims arising out of Mrs. Unglaube's alleged investment in the ecotourism industry in Costa Rica through the acquisition of land for the development of a tourism project and its subsequent alleged expropriation by the Costa Rican Government.
Acquisition of land for the development of a tourism project in Costa Rica; particularly, ownership of certain properties on the Playa Grande peninsula. Decided in favour of investor Costa Rica Germany Tertiary: L - Real estate activities 68 - Real estate activities Kessler, J. L. - President

Berman, F. - Claimant

Cremades, B. M. - Respondent
4.40 mln USD 4.00 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
Indirect expropriation Award dated 16 May 2012 None None None None None None
44 2008 Nepolsky v. Czech Republic Georg Nepolsky v. Czech Republic Czech Republic - Germany BIT (1990) UNCITRAL Data not available Investment: Rights to land, acquired to extract and sell mineral water; associated water extraction rights granted by local authorities.

Summary: Claims arising out of alleged undue delay to which Mr. Nepolsky's bid for a water extraction license was subjected, and alleged discrimination in favour of two other investors interested in extracting underground water in the same Czech area.
Rights to land, acquired to extract and sell mineral water; associated water extraction rights granted by local authorities. Discontinued Czech Republic Germany Tertiary: E - Water supply; sewerage, waste management and remediation activities 36 - Water collection, treatment and supply Lévy, L. - President

Belohlavek, A. - Claimant

Reinisch, A. - Respondent
60.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Decision on costs dated February 2010 None None None None None None
45 2008 TRACO v. Poland TRACO Deutsche Travertin Werke GmbH v. The Republic of Poland Germany - Poland BIT (1989) UNCITRAL PCA Investment: Data not available

Summary: Claims arising out of the alleged expropriation and discriminatory treatment to claimant's investment in the privatized company Przedsiębiorstwo Kamienia Budowlanego engaged in the Polish stone industry in Radków.
Data not available Decided in favour of State Poland Germany Primary: B - Mining and quarrying 8 - Other mining and quarrying Veeder, V. V. - President

Schreuer, C. H. - Claimant

Stern, B. - Respondent
8.20 mln EUR (10.50 mln USD) Data not available Direct expropriation

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

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 5 September 2012 None Data not available Data not available Data not available Data not available Data not available
46 2007 Hamester v. Ghana Gustav F W Hamester GmbH & Co KG v. Republic of Ghana (ICSID Case No. ARB/07/24) Germany - Ghana BIT (1995) ICSID ICSID Investment: Rights under a joint venture agreement concluded with the Ghana Cocoa Board (statutory company) for the renovation of a coca processing factory, through the incorporation of a local company (in which the claimant held a majority shareholding) that took over the assets and titles of the old factory.

Summary: Claims arising out of a joint venture between the claimant and a Ghanaian statutory company to renovate a cocoa bean processing factory in Takoradi, west Ghana, and alleged breaches of the parties' joint-venture agreement.
Rights under a joint venture agreement concluded with the Ghana Cocoa Board (statutory company) for the renovation of a coca processing factory, through the incorporation of a local company (in which the claimant held a majority shareholding) that took over the assets and titles of the old factory. Decided in favour of State Ghana Germany Secondary: C - Manufacturing 10 - Manufacture of food products Stern, B. - President

Cremades, B. M. - Claimant

Landau, T. - Respondent
100.00 mln EUR (142.70 mln USD) Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 18 June 2010 None None None None None None
47 2007 HOCHTIEF v. Argentina HOCHTIEF Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/07/31) Argentina - Germany BIT (1991) ICSID ICSID Investment: Minority shareholding in an Argentinean vehicle company, incorporated by the claimant and other members to a consortium that had a 25-year highway system construction concession.

Summary: Claims arising out of Argentina's enactment of a 'pesification' law, among other measures during its 2001-2002 economic crisis, allegedly affecting the investor's interests in a consortium responsible for the construction, maintenance and operation of a toll road and several bridges between the cities of Rosario and Victoria over the Paraná river in northern Argentina.
Minority shareholding in an Argentinean vehicle company, incorporated by the claimant and other members to a consortium that had a 25-year highway system construction concession. Decided in favour of investor Argentina Germany Tertiary: F - Construction 42 - Civil engineering Lowe, V. - President

Brower, C. N. - Claimant

Thomas, J. C. - Respondent
157.20 mln USD 13.40 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 Decision on Jurisdiction dated 24 October 2011

Decision on Liability dated 29 December 2014

Award dated 21 December 2016
Separate and Dissenting Opinion of J. Christopher Thomas, Q.C. (Decision on Jurisdiction) ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Kettani, A. - President

Mourre, A. - Member

Bastid Burdeau, G. - Member
48 2006 Nordzucker v. Poland Nordzucker AG v. The Republic of Poland Germany - Poland BIT (1989) UNCITRAL None Investment: Intended acquisition of two sugar production plants in Poland, including the payment of a guarantee deposited with certain sugar holding companies in its capacity of bidder for the companies' shares.

Summary: Claims arising out of the Government's implementation of a privatization programme for its sugar industry and its alleged retraction from selling Nordzucker two state-owned sugar producers (including a total of five production plants), which would have increased claimant's total market-share to 20per cent of Poland's sugar industry.
Intended acquisition of two sugar production plants in Poland, including the payment of a guarantee deposited with certain sugar holding companies in its capacity of bidder for the companies' shares. Decided in favour of neither party (liability found but no damages awarded) Poland Germany Secondary: C - Manufacturing 10 - Manufacture of food products van Houtte, H. - President

Bucher, A. - Claimant

Tomaszewski, M. - Respondent
153.70 mln EUR (228.30 mln USD) 0.00 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Other
Other Partial Award (Jurisdiction) dated 10 December 2008

Second Partial Award (Merits) dated 28 January 2009

Third Partial and Final Award (Damages and Costs) dated 23 November 2009
None None None None None None
49 2005 Binder v. Czech Republic Rupert Joseph Binder v. Czech Republic Czech Republic - Germany BIT (1990) UNCITRAL None Investment: Ownership of a company, Cargo Transport-Internationale Spedition, which helped to facilitate cross-border trade.

Summary: Claims arising out of the Czech customs authorities' decision to order claimant's company the forced payment of customs debts of another company for which the investor was acting as a guarantor and by which it had been defrauded, allegedly causing bankruptcy of the investment.
Ownership of a company, Cargo Transport-Internationale Spedition, which helped to facilitate cross-border trade. Decided in favour of State Czech Republic Germany Tertiary: H - Transportation and storage 49 - Land transport and transport via pipelines Danelius, H. - President

Creutzig, J. - Claimant

Gaillard, E. - Respondent
4000.00 mln CZK (233.00 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

Customary rules of international law

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award on Jurisdiction dated 6 June 2007

Final Award dated 15 July 2011
None Judicial review by national courts Discontinued (Judicial review by national courts) None None None
50 2005 Daimler v. Argentina Daimler Financial Services AG v. Argentine Republic (ICSID Case No. ARB/05/1) Argentina - Germany BIT (1991) ICSID ICSID Investment: Majority and controlling interest in local company engaged in extending loans and leases to Argentinean dealers and purchasers of automotive goods; additional capital contributions to the subsidiary company.

Summary: Claims arising out of Argentina's enactment of an Emergency Law and other measures undertaken by the respondent to stem the country's economic crisis of 2001-2002 which allegedly affected the claimant's investment.
Majority and controlling interest in local company engaged in extending loans and leases to Argentinean dealers and purchasers of automotive goods; additional capital contributions to the subsidiary company. Decided in favour of State Argentina Germany Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Dupuy, P.-M. - President

Brower, C. N. - Claimant

Bello Janeiro, D. - Respondent
272.70 mln EUR (243.00 mln USD) Data not available Indirect expropriation

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

Umbrella clause

Most-favoured nation treatment

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 22 August 2012 Dissenting Opinion of Judge Charles N. Brower (Award)

Opinion of Professor Domingo Bello Janeiro (Award)
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on annulment dated 7 January 2015 (ICSID annulment proceedings) None Zuleta, E. - President

Feliciano, F. P. - Member

Khan, M. A. - Member
51 2005 Walter Bau v. Thailand Werner Schneider, acting in his capacity as insolvency administrator of Walter Bau Ag v. The Kingdom of Thailand (formerly Walter Bau AG (in liquidation) v. The Kingdom of Thailand) Germany - Thailand BIT (2002) UNCITRAL None Investment: Shareholding in company that had concluded a concession agreement with the respondent to construct and operate a toll highway in Bangkok.

Summary: Claims arising out of the failure of Thai authorities to approve toll hikes as contemplated in certain concession contract, which allegedly prevented the investor from making a reasonable rate of return on its investment.
Shareholding in company that had concluded a concession agreement with the respondent to construct and operate a toll highway in Bangkok. Decided in favour of investor Thailand Germany Tertiary: F - Construction 42 - Civil engineering Barker, I. - President

Lalonde, M. - Claimant

Bunnag, J. - Respondent

Valaisathien, S. - Respondent (replaced)
118.30 mln EUR (162.80 mln USD) 29.20 mln EUR (41.10 mln USD) Indirect expropriation

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 Award on Jurisdiction dated 5 October 2007

Award dated 1 July 2009
None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the Swiss Federal Tribunal dated 23 July 2012 (Judicial review by national courts) None None
52 2004 Wintershall v. Argentina Wintershall Aktiengesellschaft v. Argentine Republic (ICSID Case No. ARB/04/14) Argentina - Germany BIT (1991) ICSID ICSID Investment: Indirect controlling shareholding in a wholly-owned local subsidiary engaged in gas and oil production.

Summary: Claims arising out of the government's modification of its hydrocarbons regulatory framework that allegedly negatively affected the investor's subsidiary hydrocarbon-production concessions and exploration permits, through the enactment of a series of decrees and resolutions during the Argentinean economic crisis of 2001-2002.
Indirect controlling shareholding in a wholly-owned local subsidiary engaged in gas and oil production. Decided in favour of State Argentina Germany Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Nariman, F. S. - President

Bernardini, P. - Claimant

Torres Bernárdez, S. - Respondent
300.00 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Transfer of funds

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 8 December 2008 None None None None None None
53 2003 Ed. Züblin v. Saudi Arabia Ed. Züblin AG v. Kingdom of Saudi Arabia (ICSID Case No. ARB/03/01) Germany - Saudi Arabia BIT (1996) ICSID ICSID Investment: Data not available

Summary: Claims arising out of the investor's construction of university facilities in Saudi Arabia.
Data not available Settled Saudi Arabia Germany Tertiary: F - Construction 41 - Construction of buildings Tribunal not constituted 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 Acting Secretary-General dated 22 July 2003, pursuant to Arbitration Rule 44 None None None None None None
54 2003 Fraport v. Philippines (I) Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines (I) (ICSID Case No. ARB/03/25) Germany - Philippines BIT (1997) ICSID ICSID Investment: Majority shareholder and lender to the project company that held rights under a concession agreement for building and operating an airport terminal.

Summary: Claims arising out of the annulment of a concession contract concluded between the Philippine Department of Transportation and Communication and claimant's company for the construction and operation of an international passenger terminal at Ninoy Aquino International Airport in Manila.
Majority shareholder and lender to the project company that held rights under a concession agreement for building and operating an airport terminal. Decided in favour of State Philippines Germany Tertiary: H - Transportation and storage 51 - Air transport Fortier, L. Y. - President

Cremades, B. M. - Claimant

Reisman, W. M. - Respondent
425.00 mln USD Data not available Direct expropriation

Unclear
None - jurisdiction declined Award dated 16 August 2007 Dissenting Opinion of Mr. Bernardo M. Cremades (Award) ICSID annulment proceedings Award/decision annulled in its entirety (ICSID annulment proceedings) Decision on Annulment dated 23 December 2010 (ICSID annulment proceedings) None Tomka, P. - President

Hascher, D. - Member

McLachlan, C. A. - Member
55 2002 Siemens v. Argentina Siemens A.G. v. The Argentine Republic (ICSID Case No. ARB/02/8) Argentina - Germany BIT (1991) ICSID ICSID Investment: Sole shareholder of local investment vehicle company; claims to money under certain contract; business concessions conferred by public law.

Summary: Claims arising out of the government's suspension and subsequent termination of a contract to establish a system of migration control and personal identification.
Sole shareholder of local investment vehicle company; claims to money under certain contract; business concessions conferred by public law. Decided in favour of investor Argentina Germany Tertiary: O - Public administration and defence; compulsory social security 84 - Public administration and defence; compulsory social security Rigo Sureda, A. - President

Brower, C. N. - Claimant

Bello Janeiro, D. - Respondent
462.50 mln USD 237.80 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
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 6 February 2007

Decision on Jurisdiction dated 3 August 2004
Separate Opinion by Professor Domingo Bello Janeiro (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding issued by the ad hoc Committee dated 28 September 2009, pursuant to ICSID Arbitration Rule 43(1) (ICSID annulment proceedings) None Guillaume, G. - President

Feliciano, F. P. - Member

Shahabuddeen, M. - Member
56 1998 Schaper v. Poland Lutz Ingo Schaper v. Republic of Poland Germany - Poland BIT (1989) UNCITRAL None Investment: Shareholding in company engaged in the import of waste-paper into Poland.

Summary: Claims arising out of the prohibition on importation of raw material waste paper pursuant to a statutory amendment concerning environmental protection.
Shareholding in company engaged in the import of waste-paper into Poland. Data not available Poland Germany Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Data not available 3.00 mln USD Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available Data not available
57 1996 Saar Papier v. Poland (II) Saar Papier Vertriebs GmbH v. Republic of Poland (II) Germany - Poland BIT (1989) UNCITRAL None Investment: Ownership of local subsidiary company for import of waste-paper into Poland.

Summary: Claims arising out of alleged damages for a subsequent time period during which Poland had continued to block Saar Papier's operations, despite a prior arbitration award rendered in favour of the investor.
Ownership of local subsidiary company for import of waste-paper into Poland. Decided in favour of State Poland Germany Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Data not available Data not available Data not available Data not available Data not available Interim Award dated 24 January 2000

Final Award dated 7 June 2001
None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Decision of the Swiss Federal Tribunal dated 20 September 2000 (regarding the Interim Award of 24 January 2000) (Judicial review by national courts)

Decision of the Swiss Federal Tribunal dated 1 March 2002 (regarding the Final Award of 7 June 2001) (Judicial review by national courts)
None None
58 1996 Sedelmayer v. Russia Mr. Franz Sedelmayer v. The Russian Federation Germany - Russian Federation BIT (1989) SCC SCC Investment: Property rights in joint stock company engaged in the delivery of law enforcement equipment and relevant training.

Summary: Claims arising out of the alleged confiscation of the investor's property as a result of certain directive issued by the President of the Russian Federation ordering transfer of the claimant's assets to a state agency.
Property rights in joint stock company engaged in the delivery of law enforcement equipment and relevant training. Decided in favour of investor Russian Federation Germany Tertiary: N - Administrative and support service activities 80 - Security and investigation activities Magnusson, S. - President

Wachler, J. P. - Claimant

Zykin, I. S. - Respondent
7.60 mln USD 2.30 mln USD Direct expropriation Direct expropriation Arbitration Award dated 7 July 1998 Dissenting Opinion of Arbitrator Prof. Ivan S. Zykin (Arbitration Award) Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the City Court of Stockholm dated 18 December 2002 (Judicial review by national courts)

Judgment of the Svea Court of Appeal dated 15 June 2005 (Judicial review by national courts)
None None
59 1994 Saar Papier v. Poland (I) Saar Papier Vertriebs GmbH v. Republic of Poland (I) Germany - Poland BIT (1989) UNCITRAL None Investment: Ownership of local subsidiary company for import of waste-paper into Poland.

Summary: Claims arising out of the prohibition on importation of raw material waste paper pursuant to a statutory amendment concerning environmental protection.
Ownership of local subsidiary company for import of waste-paper into Poland. Decided in favour of investor Poland Germany Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Karrer, P. A. - President

Ahrens, G. - Claimant

Szurski, T. - Respondent
2.30 mln DEM (1.60 mln USD) 2.30 mln DEM (1.60 mln USD) Indirect expropriation Indirect expropriation Interim Award on Jurisdiction dated 17 August 1994

Final Award dated 16 October 1995
Dissenting Opinion of Dr. habil. Tadeusz Szurski (Interim Award on Jurisdiction)

Dissenting Opinion of Dr. habil. Tadeusz Szurski (Final Award)
Data not available Data not available Data not available Data not available Data not available