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Foreign Investment Disputes
Cases, Materials and Commentary
R. Doak Bishop
King & Spalding Houston, Texas
James Crawford
Lauterpacht Research Centrefor International Law University of
Cambridge
W. Michael Reisman
Yale Law School, New Häven
@1 Wolters Kluwer Law & Business
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Table of Contents
Acknowledgements
Chapter 1 Foreign Investment Disputes §1.01 Introduction § 1.02
A Brief Historyof Foreign Investment § 1.03 The International
Commitment to Encouraging and Protecting Foreign
Investment §1.04 What is a Foreign Investment Dispute ? §1.05
Investment Treaties § 1.06 International Forums for Resolving
Investment Disputes § 1.07 Political Risk Insurance §1.08
Applicable Law §1.09 International Claims §1.10 Procedura and Proof
§ 1.11 Transparencyandthe Role ofNGOs §1.12 Sovereign Immunity and
the Enforcement of State Awards § 1.13 Sources of Information about
Foreign Investment Disputes
[A] Selected Websites and Other On line Resources [B] Selected
Sources for Locating Gase Law [C] Selected Authoritative Treatises
[D] Selected Journals [in alphabetical order]
Chapter 2 Treaty Arrangements for Bilateral Investment Disputes
§ 2.01 Introduction: Why Treaties Have Been Concluded With Respect
to
International Investment [A] Jeswald W. Salacuse, BIT by BIT:
The Growth of Bilateral Investment
Treaties and Their Impad on Foreign Investment in Developing
Countries, 24 Int'l Law. 655,659-660 (1990)
[B] Comments and Questions § 2.02 Precursors of Modern
Investment Treaties
[A] Treaties of Friendship, Commerce and Navigation [1] John F.
Coyle, The Treaty of Friendship, Commerce and Navigation in the
ModernEra, 51 Colum.J. Transnat'lL. 302,303-304,319-323 (2013)
[2] Kenneth J. Vandevelde, The Bilateral Investment Treaty Program
of
the United States, 21 Cornell Int'l L.J. 201,203-208 (1988)
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Foreign Investment Disputes - Cases, Materials and
Commentary
[3] Comments and Questions 27 [B] Treaty of Friendship, Commerce
and Navigation Between the United
States of America and Israel 28 [ 1 ] Treaty of Friendship,
Commerce and Navigation Between the
United States of America and Israel (1951), 5 U.S.T. 550 (1954)
28 [2] Comments and Questions 39
§ 2.03 History of Attempts to Create Bilateral Investment
Treaties 40 [A] Jeswald W. Salacuse, BIT by BIT: The Growth of
Bilateral Investment
Treaties and Their Impact on Foreign Investment in Developing
Countries, 24 Int'l Law. 655,655-658 (1990) 40
[B] Alice Hadley, Do Chinas BITs Matter? Assessing the Effect of
Chinas Investment Agreements on Foreign Direct Investment Flows,
Investors' Rights, and the Rule ofLaw (unpublished paper, Yale Law
School 2013) 42
[C] Comments and Questions 44 § 2.04 Modern Investment Treaties
45
[A] Bilateral Treaties 45 [1] Rudolf Dolzer and Margrete
Stevens, Bilateral Investment Treaties,
10-11 (Martinas NijhoffPublishers 1995) 45 [2] Kenneth J.
Vandevelde, United States Investment Treaties: Policy
and Practice, 19-20 (Kluwer Law International 1992) 46 [3] US
Model Bilateral Investment Treaty (2012) 47 [4] German Model
Bilateral Investment Treaty (2008) 77 [5] United States- Singapore
Free Trade Agreement (2004), Chapter
15: Investment 83 [6] United States-Chile Free Trade Agreement
(2005), Chapter 10:
Investment (2005) 100 [7] Comments and Questions 120
[B] Multilateral Treaties 122 [ 1] North American Free Trade
Agreement (1992), Chapter Eleven:
Investment (1992) 122 [2] Energy Charter Treaty (1994) 137 [3]
Dominican Republic-Central America Free Trade Agreement
(2004), Chapter Ten: Investment 144 [4] ASEAN Comprehensive
Investment Agreement (2009) 162 [5] Agreement Among the Government
ofjapan, the Government
of the Republic of Korea and the Government of the People s
Republic of China for the Promotion, Facilitation and Protection of
Investment (2012) 184
§ 2.05 Structure of the Treaties and Obligations Undertaken by
States 200 [A] Dispute Resolution 200
[ 1 ] Forums to Which Consent is Given 201 [2] Compania deAguas
del Aconquija, S.A. and Compagnie Generale
des Eaux v. Argentine Republic (ICSID Gase No. ARB/97/3), Award
of21 November 2000 [Francisco Rezek (pres,), Thomas Buergenthal,
Peter D. Trooboff] 201
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[3] Compania deAguas delAconquija, S.A. and Vivendi Universal
(formerly Compagnie Generale des Eaux) v. Argentine Republic (ICSID
Case No. ARB/97/3), Decision on Annulment of3July 2002
[L.YvesFortier, C.C., QC. (pres.),JamesR. Crawford,Jose Carlos
Fernandez Rozas] 202
[B] Convention on the Settlement of Investment Disputes Between
States and Nationais of Other States [ICSID or Washington
Convention] (1965), 575 U.N.T.S. 159 204
[C] Comments and Questions 209 §2.06 Interpretation of Treaties
210
[A] Vienna Convention on the Law of Treaties (1969) 1155
U.N.T.S. 331 210 [B] Comments and Questions 211
Chapter 3 Investment Contracts and Key Clauses 213 §3.01
Introduction 213 § 3.02 Investment Agreements 215
[A] US Model Bilateral Investment Treaty (2012), Definition of
Investment Agreement 215
[B] Case Law 216 [1] Chevron Corp (USA) and Texaco Petroleum Co
(USA) v. Republic
of Ecuador (PCA Case No. 34877), Interim Award of 1 December
2008,59-60 [Karl-Heinz Böckstiegel (pres.), Charles N. Brower,
Albert Jan van den Berg] 216
[2] Chevron Corp (USA) and Texaco Petroleum Co (USA) v. Republic
of Ecuador (PCA Case No. 2009-23), Third Interim Award on
Jurisdiction and Admissibility of 27 February 2012, 10-12 [V.V.
Veeder (pres.), Horacio Alberto Grigera Naön, Vaughan Lowe] 217
§3.03 Key Investment Contract Clauses 219 [A] Arbitration
Clauses 219
[1] Arbitration Clauses 219 [a] Noah Rubins and N. Stephen
Kinsella, International
Investment, Political Risk, and Dispute Resolution: A
Practitioner's Guide, 43-45,261 (Oceana Publications 2005) 219
[b] R. Doak Bishop, A Practica! Guide For Drafting International
Arbitration Clauses, 1 Int'l Energy L. & Tax'n Rev. 16,16,20-23
(2000) 220
[c] Gary B. Born, International Arbitration and Forum Selection
Agreements: Drafting and Enforcing, 38 (Kluwer Law International
2010) 221
[2] Examples of Arbitration Clauses 223 [a] ICSID Model Clauses
223 [b] UNCITRAL Model Arbitration Clause 224
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[c] Angola Model Production Sharing Agreement for Deep Water
Blocks (February 1992), 141 Basic OilLaws & Concession
Contracts: South & Central Africa 1, 84 (2004) 225
[d] UMC Production Sharing Contract Dated 29 June 1992 Between
the Republic of Equatorial Guinea & United Meridian
International Corp., 135 Basic Oil Laws & Concession Contracts:
South & Central Africa 1,55-57 (1998) 225
[3] Comments and Questions 226 [B] Choice-of-Law Clauses 227
[ 1 ] M. Sornarajah, The Settlement of Foreign Investment
Disputes, §3.1 at 47-49 (Kluwer Law International 2000) 227
[2] Noah Rubins and N. Stephen Kinsella, International
Investment, Political Risk, and Dispute Resolution: A
Practitioner's Guide, 47-49 (Oceana Publications 2005) 228
[3] Examples of Choice-of-Law Clauses 230 [a] Trinidadian &
Tobagon Model Production Sharing Contract
for Deep Water Areas, HIS Energy, Petroleum, Economics and
Policy Solutions (PEPS) Database 230
[b] UMC Production Sharing Contract Dated 29 June 1992 Between
the Republic of Equatorial Guinea & United Meridian
International Corp., 135 Basic Oil Laws & Concession Contracts:
South & Central Africa 1, 59 (1998) 230
[c] Oil Concession Agreement Dated 13 October 1980 Between the
Government of Abu Dhabi & Amerada Hess Petroleum Abu Dhabi
Ltd., 75 Basic Oil Laws & Concession Contracts: Middle East
5,17 (1982) 230
[d] Pennzoil/Lukoil Group Agreement Dated 10 November 1995 on
Production Sharing for the Karabakh and Area Adjacent in the
Azerbaijan Sector of the Caspian Sea Between the State Oil Co. of
the Azerbaijan Republic (Socar) and Lukoil International, et al.,
23 Basic Oil Laws & Concession Contracts Russia & NIS 1,105
(2003) 231
[e] Texaco Exploration Pakistan Petroleum Concession Agreement
Dated 6 November 1990 Between the Islamic Republic of Pakistan, Oil
& Gas Development Corp., & Texaco Exploration Pakistan
Inc., 116 Basic Oil & Concession Contracts: Asia &
Australia 2, 97 (1993) 231
[4] Case Law on Choice-of-Law Clauses 231 [5] Comments and
Questions 231
[C] Force Majeure Clauses 232 [ 1 ] Karl-Heinz Böckstiegel,
Arbitration and State Enterprises: A Survey
on the National and International State ofLaw and Practice,
37-39, 42-48 (Kluwer Law International 1984) 232
[2] Examples of Force Majeure Clauses 237
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[a] Angola Model Production Sharing Agreement For Deep Water
Blocks (February 1992), 141 Basic OilLaws & Concession
Contracts: South & Central Africa 1,85 (2004) 237
[b] Concession Contract of 31 May 2001 Between the Republic of
Cameroon & RSM Production Corp., 157 Basic Oil Laws &
Concession Contracts: South & Central Africa 1,34-35 (2004)
237
[c] UMC Production Sharing Contract Dated 29 June 1992 Between
the Republic of Equatorial Guinea & United Meridian
International Corp., 135 Basic Oil Laws & Concession Contracts:
South & Central Africa 1,59-60 (1998) 238
[d] Agip/BP/Etal Production Sharing Agreement Dated 18 November
1997 in respect of the North Caspian Sea (Kashagan) AmongAgip
Caspian Sea V.B., et al., 39 Basic Oil Laws & Concession
Contracts: Russia & NIS 1,102-104 (2003) 239
[3] Case Law on Force Majeure Clauses 240 [a] National Oil Corp.
v. Libyan Sun Oil (ICC Case No. 4462/AS),
First Award of 31 May 1985,291.L.M. 565,568-570,584-600 (1990)
[Schmelck (pres.), Koetz, Muskie] 240
[b] Karaha Bodas Company L.L.C. v. Perusahaan Pertambangan
Minyak Dan Gas Bumi Negara ('Pertamina') and Pt. PLN (Persero)
('PLN') (ad hoc arbitration under the 1976 UNCITRAL Rules), Final
Award of 18 December 2000, 16(3) Mealey's Int'l Arb. Rep. C-2, C-7
to C-8 (2001) [Yves Derains (pres.), Piero Bernardini, Ahmed Sadek
El Kosheri] 247
[c] Mobil Cerro Negro, Ltd. v. Petroleos de Venezuela, S.A. and
PDVSA Cerro Negro, S.A. (ICC Case No. 15416/JRF/CA), Final Award of
23 December 2011,48-49,64-65,315-316, 323-325 [Karl-Heinz
Böckstiegel (pres.), Jacques Sales, Henri C. Alvarez] 248
[4] Comments and Questions 251 [D] Stabilization Clauses 251
[l] Stabilization Clauses 251 [a] Thomas W. Walde and George
Ndi, Stabilizing International
Investment Commitments: International Law Versus Contract
Interpretation, 31 Tex. Int'l L.J. 215,226-228,260-266 (1996)
251
[b] M. Sornarajah, The Settlementof Foreign Investment Disputes,
§ 3.2 at 50-51 (Kluwer Law International 2000) 255
[c] Noah Rubins and N. Stephen Kinsella, International
Investment, Political Risk, and Dispute Resolution: A
Practitioner's Guide, 53-57 (Oceana Publications 2005) 256
[2] Examples of Stabilization Clauses 258 [a] Offshore Agreement
Dated 10 January 1978 between
Government of Ghana & Offshore Hydrocarbons Corporation
(Later Transferred to Agri-Petco), 58 Basic Oil
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Foreign Investment Disputes — Cases, Materials and
Conimentary
Laws & Concession Contracts: South & Central Africa 22,
50-51 (1980) 258
[b] Amoco Group Agreement Dated 14 December 1996 on the
Exploration, Development & Production Sharing for Prospective
Structures Ashrafi, Dan Ulduzu & Area Adjacent in the
Azerbaijan Sector of the Caspian Sea, 24 Basic Oil Laws &
Concession Contracts: Russia & NIS 1,91 (1997) 259
[c] Oman Model Exploration & Production Sharing Agreement
of2002, Basic Oil Laws & Concession Contracts: Middle East, 45
(2003) 259
[d] Concession Contract of 31 May 2001 Between the Republic of
Cameroon & RSM Production Corp., 157 Basic Oil Laws &
Concession Contracts: South & Central Africa 1,40 (2004)
259
[3] Case Law on Stabilization Clauses 260 [a] Amoco
International Finance Corp. v. Government of the Islamic
Republic oflran (IUSCT Case No. 56), Partial Award No. 310-56-3
of 14July 1987 [Michel Virally (pres.), Charles N. Brower, Parviz
Ansari Moin] 260
[b] Libyan American Oil Company (LLAMCO) v. Government of the
LibyanArab Republic (ad hoc arbitration under the 1958 ILC Draft
Convention on Arbitral Procedure), Award of 12 April 1977, 201.L.M.
1,30-31,55-56 (1981) [Sobhi Mahmassani, sole arbitrator] 263
[c] Phillips Petroleum Company Venezuela Ltd. and ConocoPhillips
Petrozuata B.V. v. Petroleos de Venezuela, S.A. (ICC Case No.
16848/JRF/CA (C-16849/JRF/CA), Final Award of 17 September 2012
[Pierre Tercier (pres.), Horacio Alberto Grigera Naön, Ahmed Sadek
El Kosheri] 264
[4] Comments and Questions 267 [E] Adaptation &
Renegotiation Clauses 267
[ 1 ] Thomas W. Walde and George Ndi, Stabilizing International
Investment Commitments: International Law Versus Contract
Interpretation, 31 Tex. Int'lL.J. 215,265-266 (1996) 267
[2] M. Sornarajah, The Settlement of Foreign Investment
Disputes, § 3.7 at 54-55 (Kluwer Law International 2000) 268
[3] Piero Bernardini, Stabilization and Adaptation in Oil and
Gas Investments, 1 (l) J.World Energy Law & Bus. 98,101-105
(2008) 269
[4] Examples of Adaptation and Renegotiation Clauses 271 [a]
Restated LNG Development & Production Sharing
Agreement for the North Field Gas Dated 31 January 1993 Between
the Government of the State of Qatar and (as Contractor) Qatar
General Petroleum Corporation, et al., 58 World LNG Contracts:
Qatar 1 (2003) 271
[b] Agip/BP/Etal Production Sharing Agreement Dated 18 November
1997 in respect of the North Caspian Sea
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(Kashagan) Among Agip Caspian Sea V.B., et al., 39 Basic Oil
Laws & Concession Contracts: Russia & NIS 1,114 (2003)
271
[5] Case Law on Adaptation Clauses 272 [a] Burlington Resources
Inc. v. Republic of Ecuador (ICSID Case
No. ARB/08/5), Decision on Liability of 14 December 2012,
111-113 [Gabrielle Kaufmann-Kohler (pres.), Brigitte Stern,
Francisco Orrego Vicuna] 272
[b] Mobil Cerro Negro, Ltd. v. Petroleos de Venezuela, S.A. and
PDVSA Cerro Negro, S.A. (ICC Case No. 15416/JRF/CA), Final Award
of23 December 2011,48-49,269-271,347-351 [Karl-Heinz Böckstiegel
(pres.), Jacques Sales, Henri C. Alvarez] 273
[6] Comments and Questions 277 [F] Waiver of Sovereign Immunity
Clauses 277
[ 1 ] Noah Rubins and N. Stephen Kinsella, International
Investment, Political Risk, and Dispute Resolution: A
Practitioner's Guide, 63-65 (Oceana Publications 2005) 277
[2] Examples of Sovereign Immunity Waiver Clauses 278 [a]
Agip/BP/Etal Production Sharing Agreement Dated
18 November 1997 in respect ofthe North Caspian Sea (Kashagan)
Among Agip Caspian Sea V.B., et al., 39 Basic Oil Laws &
Concession Contracts: Russia & NIS 1,109 (2003) 278
[b] Oman Model Exploration & Production Sharing Agreement
of2002, Basic Oil Laws & Concession Contracts: Middle East, 45
(2003) 279
[3] Comments and Questions 279
Chapter 4 Forums for Resolving Foreign Investment Disputes 281 §
4.01 Foreign Investment Arbitration Regimes 281
[A] International Centre for Settlement of Investment Disputes
(ICSID) 281 [ 1 ] Background - W. Michael Reisman, Systems
ofControl in
International Adjudication and Arbitration: Breakdown andRepair,
46-47 (Duke University Press 1992) 282
[2] Advantages of ICSID Arbitration - Lucy Reed, Jan Paulsson
and Nigel Blackaby, Freshfields Guide to ICSID Arbitration, 14-17
(2nd ed., Kluwer Law International 2011) 283
[3] Jurisdiction: ICSID Convention Art. 25 285 [a] The Presence
of a Legal Dispute 285
[i] Christoph H. Schreuer, Loretta Malintoppi, August Reinisch
and Anthony Sinclair, 7he ICSID Convention: A Commentary,
93-95,98-101 (2nd ed., Cambridge University Press 2009) 285
[ii] UNCTAD, Scope and Definition: A Sequel, Series on Issues on
International Investment Agreements II, 46 (United Nations
Publications 2011) 288
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[iii] Georgios Petrochilos, Sylvia Noury and Daniel Kalderimis,
ICSID Convention, Chapter II, Article 25 [Jurisdiction ofthe
Centre], in Concise International Arbitration, 66,67-69 (Loukas A.
Misteiis (ed.), Kluwer Law International 2010) 2.88
[iv] Comments and Questions 290 [b] The Presence of a Legal
Dispute Arising Directly Out of an
Investment 290 [i] Commentary on the Directness Requirement
290
[aa] Christoph H. Schreuer, Loretta Malintoppi, August Reinisch
and Anthony Sinclair, The ICSID Convention: A Commentary, 106 (2nd
ed., Cambridge University Press 2009) 290
[bb] Georgios Petrochilos, Sylvia Noury and Daniel Kalderimis,
ICSID Convention, Chapter II, Article 2S [Jurisdiction ofthe
Centre], in Concise International Arbitration, 66,69 (Loukas A.
Misteiis (ed.), Kluwer Law International 2010) 291
[ii] Commentary on the Investment Requirement 291 [aa] Christoph
H. Schreuer, Loretta Malintoppi,
August Reinisch and Anthony Sinclair, The ICSID Convention: A
Commentary, 114-117,125-128 (2nd ed., Cambridge University Press
2009) 291
[bb] Campbell McLachlan, Laurence Shore and Matthew Weiniger,
International Investment Arbitration: Substantive Principles, 164
(Oxford University Press 2007) 293
[cc] Georgios Petrochilos, Sylvia Noury and Daniel Kalderimis,
ICSID Convention, Chapter II, Article 25 [Jurisdiction ofthe
Centre], in Concise International Arbitration, 66,69-70 (Loukas A.
Misteiis (ed.), Kluwer Law International 2010) 294
[iii] Definitions in International Investment Agreements 295
[aa] US Model Bilateral Investment Treaty (2012) 295 [bb] UNCTAD,
Scope and Definition: A Sequel, Series on
Issues on International Investment Agreements II, 21 -48 (United
Nations Publications 2011) 295
[iv] Definitions in Local Foreign Investment Law 302 [aa] Tradex
Hellas S.A. v. Republic ofAlbania (ICSID
Case No. ARB/94/2), Decision on Jurisdiction of 24 December 1996
[Karl-Heinz Böckstiegel (pres.), Fred Fielding, Andrea Giardina]
302
[bb] Zhinvali Development Ltd. v. Republic of Georgia (ICSID
Case No. ARB/00/1), unreported, as commented on in Walid Ben
Hamida, The Mihaly
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v. Sri Lanka Case: Some Thoughts Relating to the Status
ofPre-InvestmentExpenditures, in International Investment Law and
Arbitration: Leading Casesfrom the ICSID, NAFTA, Bilateral Treaties
and Customary International Law, 47, 67-70 (Todd Weiler ed.,
Cameron May 2005) 302
[v] Cases 304 [aa] Malaysian Historical Salvors, SDN, BHD v.
The Government of Malaysia (ICSID Case No. ARB/05/10), Award on
Jurisdiction of 17 May 2007 [Michael Hwang, S.C. (sole arbitrator)]
and Decision on the Application for Annulment of 16 April 2009
[Stephen M. Schwebel (pres.), Mohamed Shahabuddeen, Peter Tomka]
304
[bb] Abaclat and Others v. Argentine Republic (formerly Giovanna
A. Beccara and Others v. The Argentine Republic) (ICSID Case No.
ARB/07/5), Decision on Jurisdiction and Admissibility of 4 August
2011 [Pierre Tercier (pres.), Georges Abi-Saab, Albert Jan van den
Berg] 312
[cc] Biwater Gauff (Tanzania) Ltd., v. United Republic
ofTanzania (ICSID Case No. ARB/05/22), Award of24JuIy 2008 [Bernard
Hanotiau (pres.), Gary B. Born, Toby Landau] and Concurring and
Dissenting Opinion of 18 July 2008 [Gary B. Born] 317
[dd] Comments and Questions 319 [c] Parties 320
[i] Contracting State or Constituent Subdivision or Agency 320
[aa] Georgios Petrochilos, Sylvia Noury and Daniel
Kalderimis, ICSID Convention, Chapter II, Article 25
[Jurisdiction ofthe Centre], in Concise International Arbitration,
66,70-71 (Loukas A. Misteiis (ed.), Kluwer Law International 2010)
320
[bb] Cable Television ofNevis, Ltd. and Cable Television ofNevis
Holdings, Ltd. v. Federation ofSt. Kitts and Nevis (ICSID Case No.
ARB/95/2), Decision on Jurisdiction of 13 January 1997 [Woodbine A.
Davis (pres.), Arthur A. Maynard, Rex McKay] 321
[ii] National of Another Contracting State 324 [aa] Campbell
McLachlan, Laurence Shore and
Matthew Weiniger, International Investment Arbitration:
Substantive Principles, 131-133 (Oxford University Press 2007)
324
[bb] Jeswald W. Salacuse, The Law of Investment Treaties,
186-189 (Oxford University Press 2010) 325
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[cc] Hussein Nuaman Soufraki v. The United Arab Emirates (ICSID
Case No. ARB/02/7), Award of 7July2004 [L.Yves Fortier (pres.),
StephenM. Schwebel, Aktham El Kholy] 327
[dd] Tokios Tokeles v. Ukraine (ICSID Case No. ARB/02/18),
Decision on Jurisdiction of 29 April 2004 [Prosper Weil (pres.),
Piero Bernardini, Daniel M. Price] 331
[ee] TSA Spectrum de Argentina S.A. v. Argentine Republic (ICSID
Case No. ARB/05/5), Award of 19 December 2008 [Hans Danelius
(pres.), Georges Abi-Saab, Grant D. Aldonas] 337
[ff] Comments and Questions 340 [d] Consent 341
[i] Georgios Petrochilos, Sylvia Noury and Daniel Kalderimis,
ICSID Convention, Chapter II, Article 25 [Jurisdiction ofthe
Centre], in Concise International Arbitration, 66, 74-77 (Loukas A.
Misteiis (ed.), Kluwer Law International 2010) 341
[ii] Standard Chartered Bank v. United Republic of Tanzania
(ICSID Case No. ARB/10/12), Award of 2 November 2012 [William W.
Park (pres.), Barton Legum, Michael C. Pryles] 343
[iii] Daimler Financial Services AG v. Argentine Republic (ICSID
Case No. ARB/05/01), Award of 22 August 2012 [Pierre-Marie Dupuy
(pres.), Charles N. Brower, Domingo Bello Janeiro] and Dissenting
Opinion of 15 August 2012 [Charles N. Brower] 345
[iv] Comments and Questions 347 [4] Annulment Proceedings
348
[a] W. Michael Reisman, Systems ofControl in International
Adjudication and Arbitration: Breakdown and Repair, 48,50 (Duke
University Press 1992) 348
[b] Lucy Reed, Jan Paulsson and Nigel Blackaby, Freshfields
Guide to ICSID Arbitration, 162-174 (2nd ed., Kluwer Law
International 2011) 349
[c] Comments and Questions 355 [B] International Centre for
Settlement of Investment Disputes (ICSID)
Additional Facility 355 [ 1 ] Andrew Newcombe and Lluis
Paradell, Law and Practice of
Investment Treaties: Standards ofTreatment, 29 (Kluwer Law
International 2009) 355
[2] Lucy Reed, Jan Paulsson and Nigel Blackaby, Freshfields
Guide to ICSID Arbitration, 17-19 (2nd ed., Kluwer Law
International 2011) 355
[C] Iran U.S. Claims Tribunal (Algiers Accords) 357
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[ l] David D. Caron, Lee M. Caplan and Matti Pellonpää, The
UNCITRAL Arbitration Rules: A Commentary, 3-8 (Oxford University
Press 2006) 357
[2] David D. Caron, The Iran-U.S. Claims Tribunal and Investment
Arbitration: Understandingthe Claims SettlementDeclaration as a
Retrospective BIT, in The Iran-U.S. Claims Tribunal at 25: The
Cases Everyone Needs to Knowfor Investor-State and International
Arbitration, 378-383 (Christopher R. Drahozal and Christopher S.
Gibson (eds), Oxford University Press 2007) 360
§4.02 OtherArbitral Regimes 363 [A] Permanent Court of
Arbitration (PCA) 363
[1] PCA, 11 Ith AnnualReport: 2011,2,3,6,8 (2012) 363 [2] UN
CTAD, Dispute Settlement: Permanent Court of Arbitration,
32-33 (United Nations Publications 2003) 365 [B] International
Court of Arbitration of the International Chamber of
Commerce (ICC) 366 [ 1 ] ICC, ICC Dispute Resolution: A World
ofExperience - A Wealth of
Expertise, 2-5 (2012) 366 [2] Jacob Grierson and Annet van
Hooft, Arbitrating Under the
2012 ICC Rules: An Introductory Users Guide, 30 (Kluwer Law
International 2012) 368
[3] ICC, ICC Commission Report: States, State Entities and ICC
Arbitration, 2 (2012) 369
[C] London Court of International Arbitration (LCIA) 370 [ l]
Simon Nesbitt, LCIA Rules [Introductory Remarks], in Concise
International Arbitration, 401 (Loukas A. Misteiis ed., Kluwer
Law International 2010) 370
[2] Peter Turner and Reza Mohtashami, A Guide to the LCIA
Arbitration Rules, 2-3 (Oxford University Press 2009) 371
[D] Arbitration Institute of the Stockholm Chamber of Commerce
(SCC) 372 [ l] Gary B. Born, International Arbitration and Forum
Selection
Agreements: Drafting and Enforcing, 56 (3rd ed., Kluwer Law
International 2010) 372
[2] The SCC Experience of Investment Arbitration under UNCITRAL
Rules, Paper presented by Annette Magnusson, SCC Secretary General,
in October 2012 372
[E] United Nations Commission on International Trade Law
(UNCITRAL) Arbitration Rules 374 [1] UNCITRAL, Recommendations to
Assist Arbitral Institutions
and Other Interested Bodies With Regard to Arbitration Under the
UNCITRAL Arbitration Rules (asRevised in 2010) (2012) 374
[2] David D. Caron, Lee M. Caplan, The UNCITRAL Arbitration
Rules: A Commentary, 7-8 (2nd ed., Oxford University Press 2013)
375
§ 4.03 International Courts 375 [A] Permanent Court of
International Justice (PCIj) 375
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[ 1 ] UNCTAD, Dispute Settlement: International Court of
Justice, 5 (United Nations Publications 2003) 375
[2] Stephan W. Schill, Private Enforcement of International
Investment Law: Why We Need Investor Standing in BIT Dispute
Settlement, in The Backlash Against Investment Arbitration:
Perceptions and Reality, 29,37-39 (Michael Waibel, Asha Kaushal,
Kyo-Hwa Liz Chung and Ciaire Balchin (eds), Kluwer Law
International 2010) 376
[B] International Court of Justice (ICJ) 377 [ 1 ] UNCTAD,
Dispute Settlement: International Court of Justice, 5
(United Nations Publications 2003) 377 [2] Andrew Newcombe and
Lluis Paradell, Law and Practice of
Investment Treaties: Standards ofTreatment, 35-39 (Kluwer Law
International 2009) 378
[C] Other International Courts 380 § 4.04 National Forums
380
[A] General Considerations 380 [B] Comments and Questions
380
Chapter 5 Political Risk Insurance 381 §5.01 Introduction 381 §
5.02 Multilateral Investment Guarantee Agency (MIGA) 382
[A] Convention Establishing the Multilateral Investment
Guarantee Agency (198S), 1S08 U.N.T.S. 99 (1985) 382
[B] Commentary on the Convention Establishing the Multilateral
Investment Guarantee Agency, 1 ICSID Rev. - Foreign Inv. L.J.
193,195-202 (1986) 384
[C] Comments and Questions 386 § 5.03 National Programs - U.S.
Overseas Private Investment Corporation (OPIC) 386
[A] OPIC Program Handbook, 1 -21 (OPIC 2007) 386 [B] OPIC
Enabling Statute, 22 U.S.C. § 2191-2200 (1969) 389 [C] OPIC
Agreements with Foreign Governments 391
[1] Model OPIC Investment Incentive Agreement, 1 B.D.I.E.L. 669
(1994) 391
[2] Robert C. O'Sullivan, Model OPIC Investment Incentive
Agreement, 1 B.D.I.E.L. 665 (1994) 393
[D] Comments and Questions 394 § 5.04 OPIC Claims 394
[A] Expropriation Claims 394 [1] Governmental Nexus 394
[a] Otis Elevator Co. (Iran: 1982), OPIC Memorandum of
Determinations: Expropriation Claim of Otis Elevator Company -
Contract of Insurance No. 8982R - of 8 November 1982 394
[2] Repudiation of Contract 393
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[a] Ponderosa Assets, L.P. (Argentina: 2005), OPIC Memorandum of
Determinations: Expropriation Claim of Ponderosa Assets, L.P. -
Contract of Insurance No. 733 - of 2 August 2005,1,5,7-14,19
398
[3] Creeping Expropriation 402 [a] Revere Copper & Brass,
Inc. v. OPIC (AAA Case No. 1610
0137 76), Award of 24 August 1978,17I.L.M.
1321,1329-1332,1338,1340,1342-1343,1347-1351,1353 (1978) 402
[b] MidAmerican Energy Holdings Company (formerly CalEnergy
Company, Inc.) (Indonesia: 1999), OPIC Memorandum of
Determinations: Expropriation Claim of MidAmerican Energy Holdings
Company (formerly CalEnergy Company, Inc.) - Contracts of Insurance
Nos. E374, E453, E527, and E759 - of November 1999,1-4,5-6 407
[4] Defenses 413 [a] Central Soya Company, Inc. (Venezuela:
1967), OPIC Action
Memorandum: Denial of Expropriation Claim - Contracts Nos. 5128
and 5129 - of21 September 1967,2-3 413
[b] TheAnaconda Company 6" Chile Copper Company v. Overseas
Private Investment Corporation (AAA Case No. 16 10 0071 72), Award
of 17 JuJy 1975,14I.L.M. 1210,1211,1235-1246 (1975) 414
[5] Comments and Questions 418 [B] Currency Inconvertibility
Claims 420
[ 1 ] Reasonable Steps to Convert Local Currency 420 [a]
Philippine Geothermal, Inc. (The Philippines: 1984), OPIC
Memorandum of Determinations: Inconvertibility Claim of
Philippine Geothermal, Inc. - Contract of Insurance No. 8577 - of
10 August 1984 420
[2] Lack ofPre-existing Law or Regulation 422 [a] Active
Inconvertibility 422
[i] Kimberly Clark Corp. (Honduras: 1990), OPIC Memorandum of
Determinations: Inconvertibility Claim of Kimberly Clark
Corporation - Contract of Insurance No. A663 - of 22 May
1990,1-3,4,9 422
[b] Passive Inconvertibility 424 [i] Phelps Dodge Corp.
(Honduras: 1999), OPIC
Memorandum of Determinations: Inconvertibility Claim of Phelps
Dodge Corporation and Phelps Dodge International Corporation -
Contracts of Insurance Nos. A021, A022, and A023 - of 28 December
1999 424
[3] Comments and Questions 426 [C] PoliticalViolence Claims
427
[1] Direct Causation 427
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Foreign Investment Disputes - Cases, Materials and
Commentary
[a] Nord Resources Corporation (Sierra Leone: 1998), OPIC
Memorandum of Determination^: Political Violence Claim of Nord
Resources Corporation - Contract of Insurance No. A628 (as amended
the 'Contract') - of 14 May 1998,1-2,4 427
[b] Haitian Tropica! Management, S.A. (Haiti: 1992), OPIC
Executive Summary: Political Violence Claim of Haitian Tropical
Management, S.A. - Contract of Insurance No. C042 - of 23 November
1992,1 430
[2] Political Motivation 431 [a] Freeport Minerals Corp.
(indonesia: 1986), OPIC
Memorandum of Determination«: War, Revolution, Insurrection and
Civil Strife Claim of Freeport Minerals -Contract of Guaranty No.
7034 and Contract of Insurance No. 9704 - of 30 September 1986
431
[b] Beckman Instruments, Inc. (El Salvador: 1982), OPIC
Memorandum of Determinations: War, Revolution, Insurrection and
Civil Strife Claim of Beckman Instruments, Inc. - Contracts of
Insurance Nos. 9652 and 9653 - of 27 August 1982 434
[3] Comments and Questions 436
Chapter 6 Applicable Substantive Law 437 §6.01 Introduction
437
[A] Rudolf Dolzer and Christoph H. Schreuer, Principles of
International Investment Law, 211,288-289 (2nd ed., Oxford
University Press 2012), Chapter X: Settling Investment Disputes
437
[B] Comments and Questions 438 [C] Convention on the Recognition
and Enforcement of Foreign Arbitral
Awards [New York Convention] (1958), 330 U.N.T.S. 38 (1959),
Article V 439
[D] Comments and Questions 440 § 6.02 The Choice of Law Process
in International Commercial Arbitration 440
[A] Rules of Arbitration of the International Chamber of
Commerce (2012), Article 21 440
[B] Convention on the Settlement of Investment Disputes Between
States and Nationais of Other States [ICSID or Washington
Convention] (1965), 575 U.N.T.S. 159 (1965), Article 42 440
[C] UNCITRAL Model Law on International Commercial Arbitration
(1985, amended 2006), Article 28 441
[D] UNCITRAL Arbitration Rules (l976, revised 2010), Article 35
441 [E] Regulation (EC) No. 593/2008 ofthe European Parliament and
of
the Council of 17 June 2008 on the Law Applicable to Contractual
Obligations (Rome I), OJ L 177,4.7.2008,6, Articles 3 and 4 441
[F] Comments and Questions 443
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§ 6.03 Options for the Applicable Law 443 [A] National Law
443
[ l] Responsibility ofthe State for Injuries Caused in Its
Territory to the Person orProperty of Aliens - Measures Ajfecting
Acquired Rights: Pourth Report by F. V. Garcia Amador, [ 1959] 2
Y.B. Int'l L. Comm'n 1,26, U.N. Doc. A/CN.4/119 443
[2] Comments and Questions 445 [B] National Law with
International Guarantees 445
[ l] AGIP S.p.A. v. People's Republic of the Congo (ICSID Case
No. ARB/77/1), Award of 30 November 1979,1 ICSID Rep. 306,67 I.L.R.
318 (1979) [Jorgen Trolle (pres.), Rene-Jean Dupuy, Puad Rouhani]
445
[2] Klöckner Industrie-Anlagen GmbH and others v. United
Republic of Cameroon and Societe Camerounaise des Engrais (ICSID
Case No. ARB/81/2), Decision on Annulment of 3 May 1985,2 ICSID
Rep. 95 (1994) [Pierre Lalive (pres.), Ahmed Sadek El-Kosheri,
Ignaz Seidl-Hohenveldem] 447
[3] Amco Asia Corporation and others v. Republic oflndonesia
(ICSID Case No. ARB/81/1), Decision on the Application for
Annulment of 16 May 1986,1 ICSID Rep. 509 (1993) [Ignaz
Seidl-Hohenveldern (pres.), Florentino P. Feliciano, Andrea
Giardina] 448
[4] W. Michael Reisman, The Regime for Lacunae in the ICSID
Choice ofLaw Provision and the Question oflts Threshold, 15 ICSID
Rev. -Foreign Inv. L.J. 362,366-380 (2000) 451
[5] Wena Hotels Limited v. Arab Republic ofEgypt (ICSID Case No.
ARB/98/4), Decision on Annulment of 5 February 2002, [Konstantinos
D. Kerameus (pres.), Andreas Bucher, Francisco Orrego Vicuna]
454
[6] Azurix Corp. v. Argentine Republic (ICSID Case No.
ARB/Ol/12), Decision on the Application for Annulment of 1
September 2009 [Gavan Griffith QC (pres.), Bola Ajibola, Michael
Hwang] 456
[7] Comments and Questions 459 [C] Internationalization 459
[ 1 ] Petroleum Development (Trucial Coast) Ltd. v. Sheikh ofAbu
Dhabi, Award of September 1951,181.L.R. 144,148-150 (1951) [Lord
Asquith (sole arbitrator)] 459
[2] Comments and Questions 461 [3] Texaco Overseas Petroleum
Company and Californian Asiatic Oil
Company v. The Government ofthe Libyan Arab Republic, Award on
the Merits of 19 January 1977,531.L.R. 420,457-462 (1977)
[Rene-Jean Dupuy (sole arbitrator)] 461
[4] Comments and Questions 464
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Foreign Investment Disputes - Cases, Materials and
Commentary
[5] ltalian Enterprise v. Syrian Enterprise (ICC Case No. 3380),
Award of 29 November 1980,108 Journal du Droit International
(Clunet, No. 4) 928,928-930 (1981) 464
[6] Comments and Questions 466 [ 7] Government of Kuwait v.
American Independent Oil Co.
(AMINOIL), Award of 24 March 1982, 66 Int'l L. Rep. 518, 559-562
(1982) [Paul Reuter (pres.), Hamed Sultan, Gerald Fitzmaurice]
466
[8] Comments and Questions 468 [9] United States v. Iran (IUSCT
Case No. B36), Award of 23 March
1997 [Krzysztof Skubiszewski (pres.), George H. Aldrich, Koorosh
H. Ameli] 468
[10] James R. Crawford, Treaty and Contract in Investment
Arbitration, 24 Arb Int'l 351,352-353,360-361,367-370,373-374
(2008) 469
[11] Wintershall A.G.f et al. v. Government ofQatar, Partial
Award on Liability of 5 February 1988,281.L.M. 795, 802 (1989)
[John R. Stevenson (pres.), Ian Brownlie, Bernardo M. Cremades]
473
[12] Comments and Questions 474 [D] Direct Claims under Treaties
474
[1] JanPaulsson, Arbitration WithoutPrivity, 10(2) ICSID Rev.
-Foreign Inv. L.J. 232,232-234,254-257 (1995) 475
[2] Comments and Questions 477 [3] Asian Agricultural Products
Limited v. Republic ofSri Lanka (ICSID
Case No. ARB/87/3), Award of 27 June 1990,4 ICSID Rep. 250,
256-257 (1997) [Ahmed Sadek El-Kosheri (pres.), Samuel K.B. Asante,
Berthold Goldman] 478
[4] Comments and Questions 480 [5] Compania deAguas delAconquija
S.A. and Vivendi Universal v.
Argentine Republic (ICSID Case No. ARB/97/3), Decision on
Annulment of 3July 2002,19(l) ICSID Rev. - Foreign Inv. L.J.
89,117,127-131 (2004) [L.Yves Fortier (pres.), James R. Crawford,
Jose Carlos Fernändez Rozas] 480
[6] Comments and Questions 483 [7] ADCAffiliate Limited andADC
& ADMC Management Limited v.
The Republic ofHungary (ICSID Case No. ARB/03/16), Award of 2
October 2006 [Charles N. Brower (pres.), Albert Jan van den Berg,
Neil Kaplan] 484
§ 6.04 Applicable International Law 485 [A] The Sources of
International Law 485
[1] Statute of the International Court ofjustice (1945), Article
38 485 [2] Comments and Questions 485
[B] Applicable Treaty Standards 485 [1] North American Free
Trade Agreement (1994), 321.L.M 289
(1993), Chapter 11: Investment 486 [2] France - Argentina,
Treaty Concerning the Treatment and
Protection of Investments (1991), 1728 U.N.T.S. 298 489
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[C] OtherSources of International Law 493 [ 1 ] Texaco Overseas
Petroleum Company and Califomian Asiatic Oil
Company v. The Government of the Libyan Arab Republic, Award on
the Merits of 19 January 1977,531.L.R. 420,484-485,490-495 (1979)
[Rene-Jean Dupuy (sole arbitrator)] 493
[2] Comments and Questions 496 [3] Libyan American Oil Company
(LLAMCO) v. Government ofthe
Libyan Arab Republic, Award of 12 April 1977,621.L.R.
140,187-189 (1982) [Sobhi Mahmassani (sole arbitrator)] 496
[4] SED CO Inc v. National Iranian Oil Company and Islamic
Republic oflran (IUSCT Case No. 129), Interlocutory Award of27
March 1986 [Nils Mangard (pres.), Charles N. Brower, Parviz Ansari
Moin] 498
[5] Comments and Questions 500 § 6.05 Sources of "Non-National"
Law: the Lex Mercatoria 500
[A] Michael J. Mustill, The New Lex Mercatoria: The First
Twenty-five Years, in Maarten Bos and Ian Brownlie,
LiberAmicorumfor the Rt. Hon. Lord Wilberforce, 149,162-166
(Clarendon Press, 1987) 501
[B] State party (State X) v. Private contractor (United Kingdom)
(ICC Case No. 7110), First Partial Award of June 1995,10(2) ICC
Bulletin 39, 39-40(1999) 503
[C] Watkins-Johnson Company and Watkins-Johnson Limited v.
Islamic Republic oflran and Bank Saderat Iran (IUSCT Case No. 370),
Award of 28 July 1989 [Karl-Heinz Bockstiegel (pres.), Assadollah
Noori] 504
[D] Seiler v. Buyer (ICC Case No. 5713), Final Award of 1989,15
Y.B. Comm 1 Arb. 70,70-73 (1990) 505
[E] Comments and Questions 506 [F] James Crawford and Anthony
Sinclair, The UNIDROIT Principles
of International Commercial Contracts and their Application to
State Contracts, ICC Bulletin - Special Supplement 57,57-75 (2002)
507
[G] Joseph C. Lemire v. Ukraine (ICSID Case No. ARB/06/18),
Decision on Jurisdiction and Liability of 21 January 2010 [Juan
Fernändez-Armesto (pres.), Jan Paulsson, Jürgen Voss] 509
[H] Comments and Questions 510
Chapter 7 International Responsibility: General Principles 511
§7.01 Development ofthe Law of State Responsibility 511
[A] The Concept of Diplomatie Protection 511 [ 1] Mavrommatis
Palestine Concessions (Greece v. United Kingdom),
Decision on Jurisdiction of 30 August 1924, [ 1924] P.C.I.J.
Series A-No.2,5,12(1924) 511
[2] Panevezys-Saldutiskis Railway (Estonia v. Lithuania),
Judgment of 28 February 1939, [ 1939] P.C.I.J. Series A/B - No.
76,5,6,16 (1939) 512
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Foreign Investment Disputes - Cases, Materials and
Commentary
[3] Nottebohm (Liechtenstein v. Guatemala), Second Phase,
Judgment of 6 April 1955, [1955] I.C.J. Rep. 4,16-17,20-24,26
(1955) 512
[4] Comments and Questions 516 [5] Barcelona Traction, Light and
Power Company, Limited (Belgium
v. Spain) (New Application: 1962), Second Phase, Judgment of 5
February 1970, [1970] I.C.J. Rep. 3,41-51 (1970) 516
[6] Elettronica Sicula S.p.A. (ELSI) (United States of America
v. Italy), Judgment of 20 July 1989, [1989] I.C.J. Rep. 15,89-93
(1989) 521
[7] LaGrand (Germany v. United States of America), Judgment of
27 June 2001, [2001] I.C.J. Rep. 466,480-483,492-494 (2001) 523
[8] Comments and Questions 527 [9] The Loewen Group Inc. and
Raymond L. Loewen v. United States of
America (ICSID Case No. ARB(AF)/98/3), Award of 26 June 2003, 7
ICSID Rep. 442,484-490 (2005) [Anthony Mason (pres.), Abner J.
Mikva, Michael Mustill] 527
[10] Comments and Questions 531 [ 11 ] International Law
Commission, Articles on Diplomatie Protection,
OfScial Records ofthe General Assembly, Sixty-first Session,
Supplement No. 10 (UN Doc. A/61/10) 532
[ 12] Ahmadou Sadio Diallo (Republic of Guinea v. Democratic
Republic ofthe Congo), Preliminary Objections, Judgment of 24 May
2007, [2007] I.C.J. Rep. 582,601-602,605-606,610,614-616 (2001)
533
[B] The General Character of State Responsibility Principles 536
[ l] International Law Commission, Articles on Responsibility of
States
for Internationally WrongfulActs, General Commentary, [2001]
2(2) Y.B. Int'l L. Comm'n 30,31-32 (2001) 537
[2] Mohammad Ammar Al-Bahloül v. Tajikistan (SCC Case No. V
064/2008), Partial Award on Jurisdiction and Liability of 2
September 2009 [Jeffrey M. Hertzfeld (pres.), Richard Happ, Ivan S.
Zykin] 538
[C] Delictual and Treaty Responsibility 539 [1] Rainbow Warrior
(New Zealand v. France), Award of 30 April 1990,
20R.I.A.A. 215, 251 (1990) [Eduardo Jimenez de Arechaga (pres.),
Kenneth Keith, Eduardo Jimenez de Arechaga] 539
[2] Comments and Questions 540 [3] International Law Commission,
Articles on Responsibility of States
for Internationally WrongfulActs, Article 12 and Commentary,
[2001] 2(2) Y.B. Int'l L. Comm'n 30,54-55 (2001) 540
[D] Responsibility under International and Internal Law 541 [1]
Elettronica Sicula S.p.A. (ELSI) (United States of America v.
Italy),
Judgment of 20 July 1989, [1989] I.C.J. Rep. 15, 51, 74 (1989)
541 [2] International Law Commission, Articles on Responsibility of
States
for Internationally WrongfulActs, Article 3 and Commentary,
[2001] 2(2) Y.B. Int'l L. Comm'n 30,36-38 (2001) 542
[E] The Lex Specialis Issue 545
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[ 1 ] International Law Commission, Artides on Responsibility of
States for Internationally Wrongful Acts, Article 55 and
Commentary, [2001] 2(2) Y.B. Int'l L. Comm'n 30,54-55 (2001)
545
[2] International Law Commission, Conclusions ofthe work ofthe
Study Group on the Fragmentation of International Law: Difßculties
arisingfrom the Diversification and Expansion of International Law,
[2006] 2(2) Y.B. Int'l L. Comm'n 175,178-179 (2006) 547
§ 7.02 Attribution of Conduct to the State 548 [A] Organs of the
State or of Political Subdivisions 548
[ 1 ] International Law Commission, Articles on Responsibility
of States for Internationally Wrongful Acts, Article 4 and
Commentary, [2001] 2(2) Y.B. Int'l L. Comm'n 30,40-42 (2001)
548
[2] Restatement (Third) Foreign Relations Law of the United
States, § 207,96-98 (American Law Institute 1987) 552
[3] Compania deAguas delAconquija, S.A. and Compagnie Generale
des Eaux v. Argentine Republic (ICSID Case No. ARB/97/3), Award of
21 November 2000,16 ICSID Rev. - Foreign Inv. L.J. 641 (2001)
[Francisco Rezek (pres.), Thomas Buergenthal, Peter D. Trooboff]
553
[4] Application ofthe Convention on the Prevention and
Punishment ofthe Crime ofGenocide (Bosnia and Herzegovina v. Serbia
and Montenegro), Judgment of 26 February 2007, [2007] I.C.J. Rep.
43,203,205-206 (2007) 555
[5] Jan de Nul NVand DredgingInternational NV v. Egypt (ICSID
Case No. ARB/04/13), Award of 6 November 2008 [Gabrielle
Kaufmann-Köhler (pres.), Pierre Mayer, Brigitte Stern] 557
[6] Comments and Questions 558 [B] State Enterprises 558
[1] Wintershall A.G., etal. v. Government of Qatar, Partial
Award on Liability of 5 February 1988,281.L.M. 795,811-812 (1989)
[John R. Stevenson (pres.), Ian Brownlie, Bernardo M. Cremades]
558
[2] International Law Commission, Articles on Responsibility of
States for Internationally Wrongful Acts, Article 5 and Commentary,
[2001] 2(2) Y.B. Int'l L. Comm'n 30,42-43 (2001) 559
[3] Jan de Nul NV and Dredging International NV v. Egypt (ICSID
Case No. ARB/04/13), Award of 6 November 2008 [Gabrielle
Kaufmann-Kohler (pres.), Pierre Mayer, Brigitte Stern] 562
[4] Toto Construzioni Generali S.p.A. v. Lebanon (ICSID Case No.
ARB/07/12), Decision on Jurisdiction of 11 September 2009 [Hans van
Houtte (pres.), Alberto Feliciani, Alberto Feliciani] 563
[C] Conduct of Private Parties 565 [l] Tradex Hellas S.A.
(Greece) v. Republic ofAlbania (ICSID Case No.
ARB 94/2), Award of 29 April 1999,14 ICSID Rev. - Foreign Inv.
L.J. 197,233,235-240,244-245 (1999) [Karl-Heinz Bockstiegel
(pres.), Fred F. Fielding, Andrea Giardina] 565
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Commentary
[2] International Law Commission, Articles on Responsibility of
States for Internationally Wrongful Acts, Article 9 and Commentary,
[2001] 2(2) Y.B. Int'l L. Comm'n 30,49 (2001) 567
[3] International Law Commission, Articles on Responsibility of
States for Internationally WrongfulActs, Article 10 and Commentary,
[2001] 2(2) Y.B. Int'l L. Comm'n 30, 50 (2001) 568
[4] Comments and Questions 569 [D] Succession to Responsibility
570
[1] Tinoco Case (GreatBritain v. Costa Rica), Award of 18
October 1923,1 R.I.A.A. 375,381-384 (1923) [William H. Taft (sole
arbitrato r)] 570
[2] Arbitration of Lighthouses (France v. Greece), Claims No. 11
and 4 (PCA), Award of 24 July 1956,231.L.R. 81,88-93 (1956) [Jan
Hendrik Willem Verzijl (pres.), Achille Mestre, Georges Charbouris]
572
[3] Comments and Questions 576 §7.03 Breach of an International
Obligation 576
[A] The Concept of Due Diligence and the Roleof Fault 577 [1]
Alabama Arbitration, Award of 14 September 1872, in J.B. Moore,
History and Digest ofthe International Arbitrations to which the
United States has been a Party, Vol. 1,495, 550, 572-573 (US
Government Printing Office 1898) [Charles Francis Adams, Alexander
James Edmund Cockburn, Frederick Sclopis, James Stampfl!, Marcos
Antonio dAraujo] 577
[2] James R. Crawford, The International Law Commission's
Articles on State Responsibility: Introduction, Textand
Commentaries, 13-14 (Cambridge University Press 2002) 578
[B] Obligations of Conduct and Result 578 [1] International Law
Commission, Articles on Responsibility of States
for Internationally Wrongful Acts, Commentary to Article 12,
[2001] 2(2) Y.B. Int'l L. Comm'n 30,56 (2001) 579
[2] James R. Crawford, State Responsibility: The General Part,
220-223 (Cambridge University Press 2013) 579
[C] Irrelevance of Sovereign/Commercial Act Distinction 581 [ 1
] Swedish Engine Drivers' Union v. Sweden (Application No.
5614/72),6February 1976, [1976] ECHRRep.,SeriesA-No. 20(1976)
Sgl
[2] Comments and Questions 582
Chapter 8 Violations of Investor Rights Under Customary
International Law 583 § 8.01 Relationship Between Customary
International Law and the International
Investment Law Regime -[A] Jose E. Alvarez, The Public
International Law Regime Governing
International Investment, 94,105-108,114-117 (Hague Academy of
International Law 2011)
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[B] Stephen M. Schwebel, Investor-State Disputes and the
Development of International Law: The Influence of Bilateral
Investment Treaties on Customary International Law, 98 Am. Soc'y
Int'l L. Proc. 27,27-30 (2004) 585
[C] Patrick Dumberry, Are BITs Representing the "New" Customary
International Law in International Investment Law ?, 28 Penn St.
Int'l L. Rev. 675,701 (2010) 588
§ 8.02 Expropriation 589 [A] Introduction 589
[1] Responsibility ofthe Statefor Injuries Causedinlts Territory
to the Person or Property of Aliens - Measures Aßecting Acquired
Rights: Fourth Report by F. V. Garcia Amador, [1959] 2 Y.B. Int'l
L. Comm'n 1,11-12,14-16, U.N. Doc. A/CN.4/119 589
[B] General Distinction 593 [ 1 ] Direct - De Jure 593
[a] Compania del Desarrollo de Santa Elena, S.A. v. The Republic
of Costa Rica (ICSID Case No. ARB/96/1), Final Award of 17 February
2000 [L. Yves Fortier (pres.), Elihu Lauterpacht, Prosper Weil]
593
[b] Martin Domke, Foreign Nationalizations: Some Aspeds of
Contemporary International Law, 55 Am. J. Int'l L.
585,587-590(1961) 594
[c] The Oxford Handbook of International Investment Law, 408-409
(Peter Muchlinski, Federico Ortino and Christoph Schreuer (eds),
Oxford University Press 2008) 595
[2] Indirect - de facto - Creeping 595 [a] Errol P. Mendes, The
Canadian National Energy Program:
An Example ofAssertion of Economic Sovereignty or Creeping
Expropriation in International Law, 14 Vand. J. Trans. L. 475,
498-501(1981) 595
[b] Waste Management, Inc. v. United Mexican States (ICSID Case
No. ARB(AF)/98/2), Arbitral Award of 2 June 2000 -Dissenting
Opinion of Keith Highet of 8 May 2000 [Bernardo M. Cremades
(pres.), Keith Highet, Eduardo Siqueiros T.] 598
[c] Rumeli Telekom A.S. and Telsim Mobil Telekomunikasyon
Hizmetleri A.S. v. Republic ofKazakhstan (ICSID Case No.
ARB/05/16), Award of29July 2008 [Bernard Hanotiau (pres.), Marc
Lalonde, Stewart Boyd] 598
[d] Walter Bau AG v. Thailand (ad hoc arbitration under the 1976
UNCITRAL Rules), Award of 1 July 2009, HC 429 (2009) [Ian Barker
(pres.), Marc Lalonde, Jayavadh Bunnag] 600
[e] UNCTAD, Bilateral Investments Treaties in theMid-1990s,
65-66 (United Nations 1998) 602
[f] Comments and Questions 603 [C] Initial Precepts - Government
is not a Guarantor or Insurer of the
Investment 603
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Foreign Investment Disputes - Cases, Materials and
Commentary
[a] United Kingdom v. Belgium (The Oscar Chinn case), Judgment
of 12 December 1934,3 World Court Reports 416,436, 439 (1932-1935)
(Manley O. Hudson (ed.) with the collaboration ofRuth E. Bacon, By
the Carnegie Endowment for International Peace, Rumford Press,
1938) 603
[b] Wena Hotels Limited v. Arab Republic of Egypt (ICSID Case
No. ARB/98/4), Award of 8 December 2000 [Monroe Leigh (pres.),
Ibrahim Fadlallah, Don. Wallace, Jr.] 604
[D] Property Expropriated 605 [1] Tangible Property 605
[a] Sedco, Inc. v. National Iranian Oil Company and The Islamic
Republic oflran (IUSCT Case No. 129), Award No. 309-129-3 of 2July
1987 [Nils Mangärd (chairman), Charles N. Brower, Parviz Ansari
Moin] 605
[b] Oil Field of Texas, Inc. v. The Government ofthe Islamic
Republic oflran, National Iranian Oil Company (Iran-United States
Claims Tribunal Case No. 43), Award No. 258-43-1 of 8 October 1986
[Karl-Heinz Böckstiegel (chairman), Richard M. Mosk, Mohsen
Mostafavi] 605
[2] Real Property 606 [a] Metalclad Corporation v. The United
Mexican States (ICSID
Case No. ARB/(AF)/97/l), Award of 30 August 2000 [Elihu
Lauterpacht (pres.), Benjamin R. Civiletti, Jose Luis Siqueiros]
606
[b] Compania del Desarrollo de Santa Elena, S.A. v. The Republic
of Costa Rica (ICSID Case No. ARB/96/1), Final Award of 17 February
2000 [L. Yves Fortier (pres.), Elihu Lauterpacht, Prosper Weil]
608
[c] Burlington Resources Inc. v. Republic of Ecuador (ICSID Case
No. ARB/08/5), Decision on Liability of 14 December 2012 111-113
[Gabrielle Kaufmann-Kohler (pres.), Brigitte Stern, Francisco
Orrego Vicuna] 609
[3] Stocks and Shares 610 [a] Dr. Horst Reineccius, FirstEagle
SoGen Funds, Inc., Mr. Pierre
Mathieu and la Societe de Concours Hippique de la Chätre v. Bank
of International Settlements, Arbitral Tribunal ofthe Bank of
International Settlements (Permanent Court of Arbitration), Partial
Award of 22 November 2002 on the Lawfulness of the Recall ofthe
Privately Held Shares on 8 January 2001 and the Applicable
Standards for Valuation of Those Shares, 74-75, 77-81 [W. Michael
Reisman (pres.), Jochen A. Frowein, Mathias Krafft, Paul Lagarde,
Albert Jan van den Berg] 610
[4] BankAccounts 612 [a] American Bell International, Inc. v.
The Islamic Republic of
Iran, The Ministry of Defense ofthe Islamic Republic of Iran,
the Ministry of Post, Telegraph and Telephone ofthe Islamic
Republic
xxviii
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oflran, and The Telecommunications Company oflran (IUSCT Case
No. 48), Award No. 255-48-3 of 19 September 1986 [Michel Virally
(pres.), Charles N. Brower, Parviz Ansari Moin] 612
[5] Dividends 613 [a] Foremost Tehran, Inc., et al. v. The
Government ofthe Islamic
Republic oflran, etat (IUSCT Case Nos. 37 and 231), Award No.
220-37/231-1 of 11 April 1986 [Gunnar Lagergren (pres.),
Koorosh-Hossein Ameli, Howard M. Holtzmann] 613
[6] Bonds 616 [a] Edwin Borchard, State Insolvency and Foreign
Bondholders, Vol.
I, General Principles, 193,200-202 (Yale University Press 1951)
616 [b] Abaclat and Others v. Argentine Republic (formerly Giovanna
A.
Beccara and Others v. The Argentine Republic) (ICSID Case No.
ARB/07/5), Decision on Jurisdiction and Admissibility of 4 August
2011 [Pierre Tercier (pres.), Georges Abi-Saab, Albert Jan van den
Berg] 617
[7] Management of Business 619 [a] Sedco, Inc. for itself and on
behalf ofSedco International, S.A.,
and Sediran Drilling Company v. National Iranian Oil Company and
The Islamic Republic oflran (IUSCT Case No. 129), Award No, ITL
55-129-3 of 28 October 1985 [Nils Mangärd (pres.), Charles N.
Brower, Parviz Ansari Moin] 619
[b] Starrett Housing Corporation, Starrett Systems, Inc.,
Starrett Housing International, Inc., v. The Government ofthe
Islamic Republic oflran, Bank Omran, BankMellat, BankMarkazi (IUSCT
Case No. 24), Interlocutory Award No. ITL 32-24-1 of 19 December
1983 [Gunnar Lagergren (pres.), Mahmoud M. Kashani, Howard M.
Holtzmann] 619
[8] Contractual Rights 621 [a] Phillips Petroleum Company Iran
v. The Islamic Republic oflran
and The National Iranian Oil Company (IUSCT Case No. 39), Award
No. 425-39-2 of 29 June 1989 [Robert Briner (pres.), Seyed K.
Khalilian, George H. Aldrich] 621
[b] Amoco International Finance Corporation, v. The Government
of the Islamic Republic oflran, et al (IUSCT Case No. 56), Award
No. 310-56-3 of 14July 1987 [Michel Virally (pres.), Charles N.
Brower, Parviz Ansari Moin] 622
[c] Mobil Oil Iran Inc., et al. v. Government ofthe Islamic
Republic of Iran and National Iranian Oil Company (IUSCT Case Nos.
74, 76,81,150), Award No. 311-74/76/81/150-3 of 14July 1987 [Michel
Virally (pres.), Charles N. Brower, Parviz Ansari Moin] 624
[d] Waste Management, Inc. v. United Mexican States (ICSID Case
No. ARB(AF)/00/3), Award of 30 April 2004 [James Crawford (pres.),
Benjamin R.Civiletü, Eduardo Magallön Gömez] 626
-
Foreign Investment Disputes — Cases, Materials and
Commentary
[e] Saipem S.p.A. v. The People's Republic of Bangladesh (ICSID
Case No. ARB/05/7), Award of 30 June 2009 [Gabrielle
Kaufmann-Kohler (pres.), Christoph H. Schleuer, Philip Otton]
628
[f] Comments and Questions 630 [9] Intangible Property (e.g,
Intellectual Property, Goodwill) 631
[a] Case Concerning the Factory at Chorzöw (Claim for Indemnity)
(TheMerits), P.C.I.J. Judgment No. 13 of 13 September 1928,
P.C.I.J. Series A - Nos. 10-17 Recueil Des Arrets (Chorzöw Series
A-No. 17 atp. 51) 631
[b] Amoco International Finance Corporation v. The Government of
the Islamic Republic oflran, et al. (IUSCT Case No. 56), Award No.
310-56-3 of 14 July 1987 [Michel Virally (pres.), Charles N.
Brower, Parviz Ansari Moin] 631
[c] Comments and Questions 632 [10] Use of Property 632
[a] Thomas Waelde and Abba Kolo, Environmental Regulation,
Investment Protection and 'Regulatory Taking in International Law,
50 Int'l & Comp. L.Q.811,839-840, 846-847 (2001) 632 [i]
Protocol to the Convention for the Protection of Human
Rights and Fundamental Freedoms, as amended by Protocol No. 11,
Paris, 20 March 1952. Article 1 -Protection of Property (Council of
Europe, European Treaty Series - No. 009, page 3) 634 [aa]
LegitimateAims 634 [bb] Control is Proportionale to the Aims
634
[b] Katte Klitsche de la Grange v. Italy (Development ban on
private land), before the European Court of Human Rights, Series A,
No. 293-B, Application No. 12539/86, Judgment of 27 October 1994,19
Eur. H.R. Rep. 368 (1995) 634
[c] Trustees ofthe Late Duke ofWestminster's Estate v. United
Kingdom (The Leasehold Reform Acts case), before the European
Commission of Human Rights, Application No. 8793/79, Decision as to
Admissibility of 28 January 1983, 5 Eur. H.R. Rep. 440,441,463-464
(1983) 635
[E] Expropriatory Intent 636 [l] Question ofthe
NecessityofExpropriatory Intent 636
[a] Tippetts, Abbett, McCarthy, Stratton v. TAMS-AFFA Consulting
Engineers oflran, et al. (IUSCT Case No. 7), Award No. 141-7-2 of
29 June 1984 [Willem Riphagen (pres.), Shafie Shafeiei, George H.
Aldrich] 636
[b] Phillips Petroleum Company Iran v. The Islamic Republic
oflran, The National Iranian Oil Company (IUSCT Case No. 39), Award
No. 425-39-2 of 29 June 1989 [Robert Briner (pres.), Seyed K.
Khalilian, George H. Aldrich] 637
[c] Comments and Questions 637
XXX
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[2] Effect of Act 011 Interests 638 [a] Tippetts, Abbett,
McCarthy, Stratton v. TAMS-AFFA Consulting
Engineers oflran, et al. (IUSCT Case No. 7), Award No. 141-7-2
of 29June 1984 [Willem Riphagen (pres.), Shafie Shafeiei, George H.
Aldrich] 638
[F] Standards 638 [ 1 ] Direct Expropriation: the Government
Acquires Title and
Benefits fem It 638 [a] Eudoro Armando Olgutn v. Republic of
Paraguay (ICSID Case
No. ARB/98/5), Decision on Objections to Jursdiction of 8 August
2000 [Rodrigo Oreamuno (pres.), Eduardo Mayora Alvarado, Francisco
Rezek] 638
[b] CME Czech Republic BV. (The Netherlands) v. The Czech
Republic, UNCITRAL Arbitration Proceedings, Partial Award of 13
September 2001 (UNCITRAL Ad Hoc Trib. 2001) [Wolfgang Kühn (pres.),
Stephen M. Schwebel,Jaroslav Hindi] 638
[2] Indirect Expropriation 640 [a] G.C. Christie, What
Constitutes a Taking ofProperty Under
International Law?, 38 Brit. Y.B. Int'l L.
307,322-324,330-333,336-338(1962) 640
[b] Antoine Biloune and Marine Drive complex Ltd v. Ghana
Investments Centre and the Government of Ghana, Award on
Jurisdiction and Liability of 27 October 1989,95 Int'l L. Rep.
183,209-210 (1994) [Stephen M. Schwebel (pres.), Don Wallace, Jr.,
Monroe Leigh] 644
[c] Wena Hotels Limited v. Arab Republic of Egypt (ICSID Case
No. ARB/98/4), Award of 8 December 2000 [Monroe Leigh (pres.),
Ibrahim Fadlallah, Don. Wallace, Jr.] 645
[d] Generation Ukraine, Inc v. Ukraine (ICSID Case No.
ARB/00/9), Award of 16 September 2003 [Jan Paulsson (pres.), Eugen
Salpius, Jürgen Voss] 647
[e] Comments and Questions 650 [3] Legitimate Expectations of
Investor 651
[a] OpelAustria GmbH v. Council ofthe European Union (Case T-l
15/94), Judgment the Court of First Instance (Fourth Chamber) of 22
January 1997, European Court Reports (1997), 11-00039 [K. Lenaerts
(pres.), P. Lindh, J. D. Cooke] 651
[b] Comments and Questions 652 [G] Governmental Acts 653
[1] Laws and Decrees Explicitly Expropriating 653 [a]
Anglo-Iranian Oil Co. Case, 19521.C.J. 103,103-114 (July
22) (Jurisdiction denied) 653 [b] Bolivia: Supreme Decree No.
28701,1 May 2006,45 ILM
1020,1021 (2006) 653 [2] Appointment of Managers 653
xxxi
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Foreign Investment Disputes — Cases, Materials and
Commentary
[a] Anglo-Iranian Oil Co. Case, 1952 I.C.J. 103,103-114 (July
22) (Jurisdiction denied) ^53
[3] Seizure of Premises and Impoundment of Property 653 [4]
Announcement oflntended Expropriation without Further Acts 654
[a] Sola Tiles, Inc. v. The Government ofthe Islamic Republic
oflran (IUSCT Case No. 317), Award No. 298-317-1 of 22 April 1987
[Karl-Heinz Böckstiegel (pres.), Mohsen Mostafavi, Howard M.
Holtzmann] 654
[b] Comments and Questions 655 [c] Agrotexim and Others v.
Greece (Town planning measures
taken by a municipality with a view to expropriating Company
property), before the European Court of Human Rights, Series A, No.
330, Application No. 14807/89, Judgment of 24 October 1995,21 Eur.
H.R. Rep. 250 (1995) 655
[d] Compania del Desarrollo de Santa Elena, S.A. v. The Republic
of Costa Rica (ICSID Case No. ARB/96/1), Final Award of 17 February
2000 [L. Yves Fortier (pres.), Elihu Lauterpacht, Prosper Weil]
655
[5] Unilateral Reduction of Concession Area 655 [a] Liberian
Eastern Timber Corporation ("LETCO") v. The
Government ofthe Republic of Liberia (ICSID Case No. ARB/83/2),
Award of 31 March 1986, 2 ICSID Rep. 346 (1994) [BernardoM.
Cremades (pres.), Jorge Gongalves Pereira, Alan Redfern] 655
[6] Use Restrictions 657 [7] Forced Sales 658
[a] G.C. Christie, What Constitutes a Taking of Property Under
International Law?, 38 Brit. Y.B. Int'l L. 307,324-326,328-329
(1962) 658
[b] Comments and Questions 660 [8] Cessation ofProject Work
Dueto Governmental Interference 661
[a] Antoine Biloune and Marine Drive complex Ltd v. Ghana
Investments Centre and the Government of Ghana, Award on
Jurisdiction and Liability of 27 October 1989,95 Int'l L. Rep.
183,209-210 (1994) [Stephen M. Schwebel (pres.), Don Wallace, Jr.,
Monroe Leigh] 661
[9] Setting Product Price at Lossby Governmental Decree 661 [a]
S.A.R.L. Benvenuti and Bonfant v. People's Republic ofthe Congo
(ICSID Case No. ARB/77/2), Award of 8 August 1980, 1 ICSID Rep.
330 (1993) [Jorgen Trolle (pres.), Rudolf Bystricky, Edilbert
Razafindralambo] 661
[b] Pope & Talbott Inc. v. The Government ofCanada (ad hoc
arbitration under the 1976 UNCITRAL Rules), Award on the Merits of
Phase 2 by Arbitral Tribunal of 10 April 2001 [Lord Dervaird
(pres.), BenjaminJ. Greenberg, MurrayJ. Belman] 661
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[H] Legality 662 [ 1 ] Form of Expropriation (e.g., Due Process)
662
[a] Responsibility ofthe State for Injuries Caused in Its
Territory to the Person or Property of Aliens - Measures Affecting
Acquired Rights: Fourth Report by F. V. Garcia Amador, [1959] 2
Y.B. Int'l L. Comm'n 1, U.N. Doc. A/ CN.4/119 662
[b] Sedco, Inc. v. National Iranian Oil Company and The Islamic
Republic oflran (IUSCT Case No. 129), Award No. ITL 59-129-3 of 27
March 1986 [Nils Mangärd (pres.), Charles N. Brower, Parviz Ansari
Moin] 662
[2] Purpose 663 [a] Not for a Public Purpose 663
[i] Amoco International Finance Corporation, v. The Government
ofthe Islamic Republic oflran, et al. (IUSCT Case No. 56), Award
No. 310-56-3 of 14July 1987 [Michel Virally (pres.), Charles N.
Brower, Parviz Ansari Moin] 663
[b] Discrimination 664 [i] Sociedad Minera el Teniente S.A. v.
The Aktiengesellschaft
Norddeutsche Attinerie (Chilean Copper case), Superior Court of
Hamburg Docket No. 80 0 4/73, Decision of 22 January 1973,121.L.M.
251,276-278 (1973) 664
[ii] Liberian Eastern Timber Corporation ("LETCO") v. The
Government ofthe Republic of Liberia (ICSID Case No. ARB/83/2),
Award of 31 March 1986,2 ICSID Rep. 346 (1994) [Bernardo M.
Cremades (pres.), Jorge Gon^alves Pereira, Alan Redfern] 665
[c] Violation of stabilization clause 665 [i] AGIP Spav. The
Government ofthe Populär Republic of
the Congo (ICSID Case No. ARB/77/1), Award of 30 November
1979,67 Int'l L. Rep. 318 (1984) [Jorgen Trolle (pres.), Rene-Jean
Dupuy, Fuad Rouhani] 665
[ii] Government of Kuwait v. American Independent Oil Company
(AMINOLL), Award of 24 March 1982,66 Int'l L. Rep. 518,585-591
(1982) [Paul Reuter (pres.), Hamed Sultan, Gerald Fitzmaurice]
665
[iii] Mobil Oil Iran Inc., et al. v. Government ofthe Islamic
Republic oflran and National Iranian Oil Company (IUSCT Case Nos.
74,76,81, ISO), Award No. 311-74/76/81/150-3 of 14July 1987 [Michel
Virally (pres.), Charles N. Brower, Parviz Ansari Moin] 669
[d] Comments and Questions 670 [I] Date of Expropriation 670
[ 1 ] Vance R. Koven, Expropriation and the "Jurisprudence" of
OPIC, 22 Harv.J. Int'l L. 269,277,311-314 (1981) 670
xxxiii
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Foreign Investment Disputes - Cases, Materials and
Commentary
[2] W. Michael Reisman and Robert D. Sloane, Indirect
Expropriation and Its Valuation in the BIT Generation, 74 Brit.
Y.B. Int IL. 115, 148,150 (2004) 672
[3] Cases 674 [a] Amoco International Finance Corporation, v.
The Government of
the Islamic Republic oflran, et al. (IUSCT Case No. 56), Award
No. 310-56-3 of 14 July 1987 [Michel Virally (pres.), Charles N.
Brower, Parviz Ansari Moin] 674
[b] Phillips Petroleum Company Iran v. The Islamic Republic of
Iran and The National Iranian Oil Company (IUSCT Case No. 39),
Award No. 425-39-2 of 29 June 1989 [Robert Briner (pres.), Seyed K.
Khalilian, George H. Aldrich] 676
[c] Compama del Desarrollo de Santa Elena, S.A. v. The Republic
of Costa Rica (ICSID Case No. ARB/96/1), Final Award of 17 February
2000 [L. Yves Fortier (pres.), Elihu Lauterpacht, Prosper Weil]
676
[d] Comments and Questions 677 [J] Defenses Argued by
Governments 677
[1] U.N. Resolutions 677 [a] Permanent Sovereignty over Natural
Resources, General
Assembly Resolution 1803 (XVTl) of 14 December 1962 677 [b]
Declaration on the Establishment of a New International
Economic Order (l May 1974), A/RES/3201 (S-Vl) 678 [c] Charter
of Economic Rights and Duties of States (12
December 1974), A/RES/3281 (XXIX) 678 [2] Cases 679
[a] Texaco Overseas Petroleum Company/California Asiatic Oil
Company (TOPCO) v. The Government ofthe Libyan Arab Republic, Award
on the Merits of 19 January 1977,171.L.M. 3, 27-31 (1978)
[Rene-Jean Dupuy (sole arbitrator)] 679
[b] Comments and Questions 685 [c] Government of Kuwait v.
American Independent Oil Company
(AMINOIL), Award of 24 March 1982, 66 Int'l L. Rep. 518 (1982)
[Paul Reuter (pres.), Hamed Sultan, Gerald Fitzmaurice] 686
[3] Administrative Contracts 686 [a] The Government ofthe State
of Kuwait v. The American
Independent Oil Company (AMINOIL), Award of 24 March 1982,66
Int'l L. Rep. 518,588-589 (pars. 90(3), 9l(i)(ii)) (1982) [Paul
Reuter (pres.), Hamed Sultan, Gerald Fitzmaurice] 686
[4] Force Majeure/Impossibility/Frustration 687 [a] Mobil Oil
Iran Inc., et al. v. Government ofthe Islamic Republic
oflran, et al. (IUSCT Case Nos. 74, 76, 81,150), Award No.
311-74/76/81/150-3 of 14 July 1987 [Michel Virally (pres.), Charles
N. Brower, Parviz Ansari Moin] 687
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[b] CMS Gas Transmission Company v. The Argentine Republic
(ICSID Case No. ARB/01/8), Award of 12 May 2005 [Francisco Orrego
Vicuna (pres.), Marc Lalonde, Francisco Rezek] 689
[c] Sempra Energy International v. Argentine Republic (ICSID
Case No. ARB/02/16), Award of 28 September 2007,102-105 [Francisco
Orrego Vicuna (pres.), Marc Lalonde, Sandra Morelli Rico] 694
[d] LG&E Energy Corp., LG&E Capital Corp. and LG&E
International Inc. v. Argentine Republic (ICSID Case No. ARB/02/1),
Decision on Liability of 3 October 2006,61-62, 64,67-68,70-80
[Tatiana B. de Maekelt (pres.), Francisco Rezek, Albert Jan van den
Berg] 696
[5] Implied Termination orWaiver 703 [a] Mobil Oil Iran Inc., et
al. v. Government ofthe Islamic Republic
oflran, et al. (IUSCT Case Nos. 74,76,81,150), Award No.
311-74/76/81/150-3 of 14July 1987 [Michel Virally (pres.), Charles
N. Brower, Parviz Ansari Moin] 703
[6] Changed Circumstances 703 [a] Mobil Oil Iran Inc., et al v.
Government ofthe Islamic Republic
oflran, etal. (IUSCT Case Nos. 74,76,81,150), Award No.
311-74/76/81/150-3 of 14July 1987 [Michel Virally (pres.), Charles
N. Brower, Parviz Ansari Moin] 703
[b] Phillips Petroleum Company Iran v. The Islamic Republic
oflran and The National Iranian Oil Company (IUSCT Case No. 39),
Award No. 425-39-2 of 29 June 1989 [Robert Briner (pres.), Seyed K.
Khalilian, George H. Aldrich] 704
§ 8.03 Discriminatory Conduct: What is the Customary
International Law Standard? 704 [A] BP Exploration Company (Libya)
Limited v. The Government ofthe
Libyan Arab Republic, Award of 10 October 1973 and 1 August
1974, 53 Int'l L. Rep. 297,329,346-348,353-354 (1979) [Gunnar
Lagergren (sole arbitrator)] 704
[B] A.F.M. Maniruzzaman, Expropriation of Alien Property and the
Principle ofNon-Discrimination in International Law of Foreign
Investment: An Overview, 8 J. Transnat'l L. & Pol'y 57-59,67-70
(1998) 707
[C] Comments and Questions 709 § 8.04 Arbitrary Conduct 709
[A] Responsibility ofthe State for Injuries Caused in Its
Territory to the Person or Property of Aliens - Measures Aßecting
Acquired Rights: Fourth Report by F. V. Garäa Amador, [1959] 2 Y.B.
Int'l L. Comm'n 1,7-9, U.N. Doc. A/CN.4/119 709
[B] Glamis Gold, Ltd. v. United States of America (ad hoc
arbitration under the 1976 UNCITRAL Rules), Award of 8 June 2009
[Michael K. Young, (pres.), David D. Caron, Kenneth D. Hubbard]
712
[C] Comments and Questions 714
xxxv
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Foreign Investment Disputes - Cases, Materials and
Commentary
§ 8.05 DenialofJustice [A] The Loewen Group, Inc. and Raymond L.
Loewen v. United States of
America (ICSID Case No. ARB/(AF)/98/3), Award of 26 June 2003
[Anthony Mason (pres.), Abner J. Mikva, Michael Mustill] 714
[B] Mondev International Ltd. v. United States of America (ICSID
Case No. ARB(AF)/99/2), Award of 11 October 2002 [Ninian Stephen
(pres.), James Crawford, Stephen M. Schwebel] 71 *
[C] AmcoAsia Corporation and others v. Republic oflndonesia
(ICSID Case No. ARB/81/1), Award of 5 June 1990,1 ICSID Rep. 569,
602-605 (1993) [Rosalyn Higgins (pres.), Marc Lalonde, Per Magid]
722
[D] Athanassoglou and Others v. Switzerland Judgment of European
Court of Human Rights of 6 April 2000, Application No. 27644/95,
ECHR 2000-IV 725
[E] Robert Azinian, Kenneth Davitian and Ellen Baca v. The
United Mexican States (ICSID Case No. ARB(AF)/97/2), Award of 1
November 1999 [Jan Paulsson (pres.), Benjamin R. Civiletti, Claus
von Wobeser] 727
[F] Comments and Questions 731 § 8.06 Abuse of Rights 732
[A] Responsibility ofthe State for Injuries Caused in Its
Territory to the Person or Property of Aliens - Measures Affecting
Acquired Rights: Fourth Report by F.V. Garcia Amador, [1959] 2 Y.B.
Int'l L. Comm'n 1, U.N. Doc. A/ CN.4/119 732
[B] Karl-Heinz Böckstiegel, Arbitration and State Enterprises: A
Survey on the National and Internatioanl State of Law and Practice,
45-46 (Kluwer Law International 1984) 732
[C] International Law Commission (ILC) Articles on State
Responsibility (2001) 733
§ 8.07 Unjust Enrichment 733 [A] Christoph H. Schreuer,
Unjustified Enrichment in International Law, 22
Am.J. Comp. L. 281,281,284-285,289, 300-301(1974) 733 [B]
International Law Commission (ILC) Articles on State
Responsibility
(2001) 734 [C] Factory at Chorzow (Germany v. Poland), Claim No.
13 (PCA),
Judgment on the Merits of 13 September 1928, [1928] P.C.I.J.
Series A-No. 17,47(1928) 735
[D] Arthur Nussbaum, The Arbitration Between the Lena Goldfelds,
Ltd. and the Soviet Government, 36 CornellL. Q. 31, 50-51
(1950-1951) 735
[E] Sea-Land Service, Inc. v. The Islamic Republic oflran and
Ports and Shipping Organization oflran (IUSCT Case No. 33), Award
No. 135-33-1 of 22 June 1984 [Gunnar Lagergren (pres.), MahmoudM.
Kashani, Howard M. Holtzmann] 736
[F] Flexi-Van Leasing, Inc. v. The Government ofthe Islamic
Republic of Iran (IUSCT Case No. 36), Award No. 259-36-1 of 13
October 1986 [Gunnar Lagergren (pres.), Koorosh-Hossein Ameli,
Howard M. Holtzmann]
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[G] Schlegel Corporation on behalf of Schiegal Linign Technology
GmbH v. National Iranian Copper Industries Company (IUSCT Case No.
834), Award No. 295-834-2 of 27 March 1987 [Robert Briner (pres.),
George H. Aldrich, Hamid Bahrami-Ahmadi] 741
[H] Lockheed Corporation v. The Government oflran, The Ministry
ofWar & The Iranian Air Force (IUSCT Case No. 829), Award No.
367-829-2 of 9 June 1988 [Robert Briner (pres.), George H. Aldrich,
Seyed K. Khalilian] 744
[I] Beyeler v. Italy, Judgment of the European Court of Human
Rights of 5 January 2000, Application No. 33202/96, ECHR 2000-157
745
[j] Mobil Oil Iran Inc., et al. v. Government ofthe Islamic
Republic oflran & National Iranian Oil Company (IUSCT Case Nos.
74,76,81,150), Award No. 311-74/76/81/150-3 of 14July 1987 [Michel
Virally (pres.), Charles N. Brower, Parviz Ansari Moin] 746
[K] Arnco Asia Corporation and others v. Republic oflndonesia
(ICSID Case No. ARB/81/1), Award of 5 June 1990,1 ICSID Rep.
569,607-608 (1993) [Rosalyn Higgins (pres.), Marc Lalonde, Per
Magid] 746
[L] Charles N. Brower and Jason D. Brueschke, The Iran-United
States Claims Tribunal 427-430 (Martinus Nijhoff Publishers 1998)
747
[M] Comments and Questions 748 § 8.08 Unlawful Interference
748
[A] Eastman Kodak Company and others v. The Government oflran
and others (IUSCT Case No. 227) and Eastman Kodak International
Capital Company, Incorporated, a claim ofless than U.S.
$250,000presented by the Government ofthe United States of America
v. The Islamic Republic oflran (IUSCT Case No. 12384), Award No.
329-227/12384-3 of 11 November 1987 [Michel Virally (pres.),
Charles N. Brower, Parviz Ansari Moin] 749
[B] Comments and Questions 752
Chapter 9 Violation of Investor Rights under Investment Treaties
753 § 9.01 Introduction 753 § 9.02 Absolute Standards 756
[A] Fair & Equitable Treatment 756 [1] US Model Bilateral
Investment Treaty (2012), Article 2(2)(a) 756 [2] North American
Free Trade Agreement (1993), Article 1105(1) 756 [3] Energy Charter
Treaty (1994), Article 10(l) 757 [4] Rudolf Dolzer and Christoph H.
Schreuer, Principles of
International Investment Law, 132,134,136-17,139-140 (2nd ed.,
Oxford University Press 2012) 757
[5] BIT Cases 759 [a] Tecnicas Medioambientales Tecmed, S.A. v.
The United Mexican
States (ICSID Case No. ARB (AF)/00/2), Award of 29 May
xxxvii
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Foreign Investment Disputes - Cases, Materials and
Commentary
2003,99 153-157,165-167,172-174 [Horacio A. Grigera Naon
(pres.), Jose Carlos Fernandez Rozas, Carlos Bernal Verea] 759
[b] Saluka Investments BV. v. The Czech Republic (ad hoc
arbitration under the 1976 UNCITRAL Rules), Partial Award of 17
March 2006, 99 297-309 [Arthur Watts (pres.), L. Yves Fortier,
Peter Behrens] 763
[c] El Paso Energy International Company v. The Argentine
Republic (ICSID Case No. ARB/03/15), Award of 31 October 2011, gg
355,364-377,512-519 [Lucius Caflisch (pres.), Brigitte Stern, Piero
Bernardini] 7 66
[d] Parkerings-Compagniet AS v. Republic ofLithuania (ICSID Case
No. ARB/05/8), Award of 11 September 2007, 99 330-338 [Laurent Levy
(pres.), Julian Lew, Marc Lalonde] 770
[6] NAFTA Cases 771 [a] NAFTA Free Trade Commission, Notes of
Interpretation of
Certain Chapter 11 Provisions, 2 (2001) 771 [b] Waste
Management, Inc. v. United Mexican States ('Number
2') (ICSID Case No.ARB(AF)/00/3), Award of 25 June 2003,99
91-93,98-99 [James R. Crawford (pres.), Benjamin R. Civilette,
Eduardo Magallön Gömez] 772
[c] Glamis Gold, Ltd. v. United States of America (ICSID
Administered Case), Award of 8 June 2009,99 598-609,611-615,
617-621,625-627 [Michael K. Young, David D. Caron, Kenneth D.
Hubbard] 774
[d] Merrill & Ring Forestry L,P. v. Canada (ICSID
Administered Case), Award of31 March 2010, 99 190-197,201, 204-207,
209-213 [Francisco Orrego Vicuna (pres.), Kenneth W. Dam, J.
William Rowley] 778
[7] Comments and Questions 782 [B] Füll Protection &
Security 785
[ 1 ] Rudolf Dolzer and Christoph H. Schreuer, Principles of
International Investment Law, 160-162 (2nd ed., Oxford University
Press 2012) 735
[2] Elettronica Sicula S.p.A. (ELSI) (United States of America
v. Italy), Judgment of 20 July 1989, [1989] I.C.J. Rep. 15, 89-93
(1989), 99 104-105,107-108 786
[3] Asian Agricultural Products Ltd. v. Republic ofSri Lanka
(ICSID Case No. ARB/87/3), Final Award of 27 June 1990,4 ICSID Rep.
246 (1997), 99 45-49, 53,72-73,75-77, 85-86 [Ahmed Sadek El-Kosheri
(pres.), Berthold Goldman, Samuel K.B. Asante] 788
[4] Azurix Corp. v. Argentine Republic (ICSID Case No.
ARB/01/12), Award of 14 July 2006, 99 406-408 [Andres Rigo Sureda
(pres.), Marc Lalonde, Daniel Hugo Martins] 793
[5] Comments and Questions 794 [C] Treatment No Less Favorable
than that Required by International Law 795
xxxviii
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Table of Contents
[1] KennethJ. Vandevelde, United States Investment Treaties:
Policy and Practice, 77-78 (Kluwer Law International 1992) 795
[2] L.F.H. Neer and Pauline E. Neer v. Mexico (General Claims
Commission - United States and Mexico), Opinion Rendered 15 October
1926,21 Am. J. Int'l L. 555,556,559-560 (1927) [General Claims
Commission; Concurring Opinion by Fred K. Nielsen] 795
[3] Mondev International Ltd. v. United States of America (ICSID
Case No. ARB (AF)/99/2), Award of 11 October 2002, 99 110-117,
119-125 [Ninian Stephen (pres.), James R. Crawford, Stephen M.
Schwebel] 796
[4] Comments and Questions 800 [D] Arbitrary Treatment 800
[1] US Model Bilateral Investment Treaty (2012), Article 2(2)(b)
800 [2] Elettronica Sicula S.p.A. (ELSI) (United States of America
v. Italy),
Judgment of20July 1989, [1989] I.C.J. Rep. 15,89-93 (1989), 99
120-121,123-124,127-130 801
[3] Ronald S. Lauder v. The Czech Republic (ad hoc arbitration
under the 1976 UNCITRAL Rules), Final Award of 3 September 2001, 99
214,219,221-222,225-228,229-230,232 [Robert Briner (pres.), Lloyd
Cutler, Bohuslav Klein] 803
[4] Azurix Corp. v. Argentine Republic (ICSID Case No.
ARB/01/12), Award of 14 July 2006,99 390-393 [Andres Rigo Sureda
(pres.), Marc Lalonde, Daniel Hugo Martins] 805
[5] Comments and Questions 806 [E] Discrimination 807
[1] North American Free Trade Agreement (1993), Article 1104 807
[2] A.F.M. Maniruzzaman, Expropriation of Alien Property and
the
Principle ofNon-Discrimination in International Law of Foreign
Investment: An Overview, 8 J. Transnat'l L. & Pol'y
57,58-59,61-65,67-70,72,77(1998) 807
[3] Amoco International Finance Corporation v. The Government
ofthe Islamic Republic oflran (IUSCT Case No. 56), Partial Award of
14July 1987 [Michel Virally (pres.), Charles N. Brower, Parviz
Ansari Moin] 811
[4] Nykomb Synergetics Technology Holding AB v. The Republic
ofLatvia (SCC Case No. 118/2001), Award of 16 December 2003, [2003]
HC 182, § 4.3.2(1) at 34 (2003) 812
[5] Comments and Questions 813 [F] Umbrella Clause 814
[1] US Model Bilateral Investment Treaty (2012), Article 2(2)
(c) 814 [2] Anthony C. Sinclair, The Origins ofthe Umbrella Clause
in the
International Law of Investment Protection, 20(4) Arb. Int'l
411, 411-434 (2004) 814
xxxix
-
Foreign Investment Disputes — Cases, Materials and
Commentary
[3] OECD, Working Paper No. 2006/3: Interpretation ofthe
Umbrella Clause in Investment Agreements, 7-9 (OECD, 2006) 816
[4] James R. Crawford, Treaty and Contract in Investment
Arbitration: The 22nd Freshfields Lecture on International
Arbitration, London (29 November 2007), 6( l) Transnational Dispute
Management 18-21 (2009) 817
[5] Eureko BV. v. Republic ofPoland (ad hoc arbitration under
the 1976 UNCITRAL Rules), Partial Award of 19 August 2005, 99 246
[L. Yves Fortier (pres.), Stephen M. Schwebel, Jerzy Rajski]
819
[6] SGS Societe Generale de Surveillance v. Republic ofthe
Philippines (ICSID Case No. ARB/02/6), Decision ofthe Tribunal on
Objections to Jurisdiction of 29 January 2004,99 H3,115-128,
130-131,134-135,137-138,141,143,154 [Ahmed S. El-Kosheri (pres.),
James R. Crawford, Antonio Crivellaro] 819
[7] LG&E Energy Corp., LG&E Capital Corp. and LG&E
International Inc. v. Argentine Republic (ICSID Case No. ARB/02/1),
Decision on Liability of 3 October 2006,99 171-172,174-175
[TatianaB. de Maekelt (pres.), Francisco Rezek, Albert Jan van den
Berg] 825
[8] El Paso Energy International Company v. Argentine Republic
(ICSID Case No. ARB/03/15), Decision on Jurisdiction of 27 April
2006, 99 70,79,81-82, 84 [Lucius Caflisch (pres.), Brigitte Stern,
Piero Bernardini] 826
[9] Burlington Resources Inc. v. Republic of Ecuador, ICSID Case
No. ARB/08/5 (formerly Burlington Resources Inc. and others v.
Republic of Ecuador and Empresa Estatal Petroleos del Ecuador
(PetroEcuador)) (ICSID Case No. ARB/08/5), Decision on Liability of
14 December 2012,99 211,214-218,220 [Gabrielle Kaufmann-Köhler
(pres.), Brigitte Stern, Francisco Orrego Vicuna] 828
[10] Comments and Questions 829 [G] Expropriation 831
[1] U§ Model Bilateral Investment Treaty (2012), Article 3 831
[2] North American Free Trade Agreement (1993), Article 1110 832
[3] Energy Charter Treaty (1994), Article 13 833 [4] OECD, Working
Paper No. 2004/4: 'Indirect Expropriation' and the
'Right to Regulate in International Investment Law, 3-5, 22
(OECD 2004) 8)4
[5] Ursula Kriebaum, Partial Expropriation, 8 (1) J. of World
Inv. and Trade 69,83-84 (2007) 835
[6] Phillips Petroleum Company Iran v. The Islamic Republic
oflran & The National Iranian Oil Company (IUSCT Case No. 39),
Award of 29June 1989 [Robert Briner (pres.), Seyed K. Khalilian,
George H. Aldrich] 8
[7] Pope & Talbot Inc. v. The Government ofCanada (ad hoc
arbitration under the 1976 UNCITRAL Rules), Interim Award of 26
June
xl
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Table of Contents
2000,99 96-105 [Lord Dervaird (pres.), BenjaminJ. Greenberg,
Murray J. Belman] 842
[8] Waste Management, Inc. v. United Mexican States ('Number 2')
(ICSID Case No. ARB(AF)/00/3), Award of 25 June 2003, 99
143-145,159-162,177 [James R. Crawford (pres.), Benjamin R.
Civilette, Eduardo Magallön Gömez] 844
[9] GAMI Investments, Inc. v. The Government ofthe United
Mexican States (ad hoc arbitration under the 1976 UNCITRAL Rules),
Final Award of 12 November 2004,99 116,123,126-133 [W. Michael
Reisman, Julio Lacarte Muro, Jan Paulsson] 846
[ 10] Compania deAguas del Aconquija S.A. and Vivendi Universal
(formerly Compagnie Generale Des Eaux) v. Argentine Republic (ICSID
Case No. ARB/97/3), Award of 20 August 2007,99
7.5.3-7.5.4,7.5.8,7.5.10-7.5.11,7.5.17-7.5.21,7.5.24-7.5.30,
7.5.31, 7.5.33-7.5.34 [J. William Rowley (pres.), Gabrielle
Kaufmann-Kohler, Carlos Bemal Verea] 848
[ 11 ] Burlington Resources Inc. v. Republic of Ecuador, ICSID
Case No. ARB/08/5 (formerly Burlington Resources Inc. and others v.
Republic of Ecuador and Empresa Estatal Petröleos del Ecuador
(PetroEcuador)) (ICSID Case No. ARB/08/5), Decision on Liability of
14 December 2012,99 344-345,391-404,429-430,
448-449,454-456,537-540 [Gabrielle Kaufmann-Kohler (pres.),
Brigitte Stern, Francisco Orrego Vicuna] 852
[12] Comments and Questions 856 [H] Effective Means of Enforcing
Rights 858
[1] Chevron Corporation (USA) and Texaco Petroleum Company (USA)
v. The Republic of Ecuador (PCA Case No. 34877), Partial Award on
the Merits of 30 March 2010,99 241-248,250-257, 262-264,268-270
[Karl-Heinz Böckstiegel (pres.), Charles N. Brower, Albert Jan van
den Berg] 858
[2] Questions and Comments 862 § 9.03 Relative Standards 863
[A] National Treatment 863 [1] US Model Bilateral Investment
Treaty (2012), Article 3 863 [2] North American Free Trade
Agreement (1993), Article 1102 864 [3] Energy Charter Treaty
(1994), Articles 10(2), 10(3), 10(7) and
10(10) 864 [4] UNCTAD, National Treatment, UNCTAD Series on
Issues in
International Investment Agreements, 1-2,12,25-26,33 (United
Nations Publications 1999) 865
[5] S.D. Myers, Inc. v. Government ofCanada (ad hoc arbitration
under the 1976 UNCITRAL Rules), Partial Award of 13 November
2000,99 238,240-256 [Bryan P. Schwartz, Edward C. Chiasson, J.
Martin Hunter] 867
xli
-
Foreign Investment Disputes - Cases, Materials and
Commentary
[6] Archer Daniels Midland Company and Täte & Lyle
Ingredients Americas, Inc. v. The United Mexican States (ICSID Case
No. ARB(AF)/04/05), Award of 21 November 2007, 99 197-213 [Bernardo
M. Cremades (pres.), Arthur W. Rovine, Eduardo Siqueiros T.]
8^0
[7] Merrill & RingForestry L.P. v. Canada (ICSID
Administered Case), Award of 31 March 2010, «ff 86-94 [Francisco
Orrego Vicuna (pres.), Kenneth W. Dam, J. William Rowley] 874
[8] Comments and Questions 876 [B] Most-Favored-Nation Treatment
877
[1] US Model Bilateral Investment Treaty (2012), Article 4 877
[2] North American Free Trade Agreement (1993), Article 1103 877
[3] UNCTAD, Bilateral Investment Treaties in the Mid-1990s, 58,
61-
62 (United Nations Publications 1998) 877 [4] Rudolf Dolzer and
Margrete Stevens, Bilateral Investment Treaties,
66 (Kluwer Law International 1995) 879 [5] Emilio Agustin
Maffezini v. The Kingdom ofSpain (ICSID Case
No. ARB/97/7), Decision on Jurisdiction of 25 January 2000, 16
ICSID Rev. - Foreign Int'l L.J. 212,225-236 (2001) [Francisco
Orrego Vicuna (pres.), Thomas Buergenthal, Maurice Wolf] 879
[6] Plama Consortium Limited v. Republic ofBulgaria (ICSID Case
No. ARB/03/24), Decision on Jurisdiction of 8 February 2005, H
184,186-187,189-192,198-200,203-210,212,218-219,222-224,227 [Carl
F. Salans (pres.), Albert Jan van den Berg, W. Veeder] 885
[7] Impregilo S.p.A. v. Argentine Republic (ICSID Case No.
ARB/07/17), Final Award of 21 June 2011 - Prof. Bridgette Sterns
Concurring and Dissenting Opinion, 99 16-17,45,47-53, 57-58,61,67,
70, 78-80 [Hans Danelius (pres.), Charles N. Brower, Brigette
Stern] 889
[8] UNCTAD, Most-Favoured-Nation Treatment, UNCTAD Series on
Issues in International Investment Agreements II, 66-67, 82-85
(United Nations Publications 2010) 893 Table 1. Summary ofMFN
claims 894
[9] Comments and Questions 895
Chapter 10 Defense« § 10.01 Introduction § 10.02 Force Majeure
gng
[A] National Oil Corporation (Libya) v. Libyan Sun Oil Company
(USA) (ICC Case No. 4462/A5), First Award of 31 May 1985,291.L.M.
565, 584-588 (1990) [Edmund Muskie, Hein Kotz, Robert Schmelck]
898
[B] Comments and Questions
xlii
897 897
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Table of Contents
[C] Gould Marketing, Inc. v. Ministry of National Defense oflran
(IUSCT Case No. 49), Interlocutory Award of 27 July 1983 [Pierre
Bellet (pres.), George H. Aldrich, Shafie Shafeiei] 901
[D] Amoco International Finance Corporation v. The Government
ofthe Islamic Republic oflran (IUSCT Case No. 56), Partial Award of
14 July 1987 [Michel Virally (pres.), Charles N. Brower, Parviz
Ansari Moin] 902
[E] Comments and Questions 904 [F] Phillips Petroleum Company
Iran v. The Islamic Republic oflran & The
National Iranian Oil Company (IUSCT Case No. 39), Award of 29
June 1989 [Robert Briner (pres.), Seyed K. Khalilian, George H.
Aldrich] 904
[G] Comments and Questions 906 [H] International Law Commission,
Articles on Responsibility of States
for Internationally WrongfulActs, November 2001, Article 23 and
Commentary, [2001] 2(2) Y. B. Int'l L. Comm'n 30,76-78 907
[I] Comments and Questions 910 [J] UNIDROIT Principles of
International Commercial Contracts
(2010), Article 7.1.7 910 [K] James R. Crawford and Anthony
Sinclair, The UNIDROIT Principles
of International Commercial Contracts and their Application to
State Contracts, ICC Bulletin - Special Supplement 57,57-75 (2002)
910
[L] Comments and Questions 915 § 10.03 Coercion and Duress
916
[A] Detlev F. Vagts, Coercion and Foreign Investment
Rearrangements, 72 Am. J: Int'l. L. 17,17-19,33-36 (1978) 916
[B] Comments and Questions 919 [C] International Law Commission,
Articles on Responsibility of States for
Internationally WrongfulActs, Article 18 and Commentary, [2001]
2(2) Y.B. Int'l L. Comm'n 30,69-70 (2001) 919
[D] Comments and Questions 921 [E] UNIDROIT Principles of In