Introduction

On 16 August 2007, an ICSID Arbitral Tribunal, composed of L. Yves Fortier (presiding), Dr. Bernardo Cremades, and Professor W. Michael Reisman, rendered its decision in the matter of Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines (ICSID Case No. ARB/03/25). The Tribunal declared - with Dr. Cremades dissenting - that ICSID did not have jurisdiction to hear the dispute, and that accordingly the Tribunal was not competent to resolve it. The majority based its decision on its assessment that Fraport's investment had not been made in ...