2005
Noble Energy v. Ecuador Noble Energy Inc. and Machala Power Cía. Ltd. v. Republic of Ecuador and Consejo Nacional de Electricidad (ICSID Case No. ARB/05/12)
Ecuador
United States of America
Ownership and control of contractual and legal rights through certain concession contract, investment agreement and production sharing contract concerning electricity supply; capital contributions; claims to money and performance having an economic value.
Claims arising out of a series of decrees, acts and omissions of the respondents through which they allegedly altered the economic, regulatory, legal, and contractual framework upon which the claimants had relied in making their investment in Ecuador, including the modification of the mechanism for the payment of invoices which caused a significant increase in unpaid receivables for electricity supply from a power plant in Ecuador.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Kaufmann-Kohler, G.
Álvarez, H. C.
Cremades, B. M.
Order taking note of the discontinuance issued by the Tribunal dated 20 May 2009, pursuant to Arbitration Rule 43(1)
370.00 mln USD
70.00 mln USD
Indirect expropriation

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

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability
None