Introduction

The Joy Mining Machinery Limited ("Joy Mining") v. Egypt[1]Decision on Jurisdiction's short length belies the controversy it is likely to generate. In just 28 pages, the Tribunal rejected he authority of a long line of cases on the burden that an investor must satisfy at the jurisdictional phase as well as offering its interpretation of bilateral investment treaty ("BIT") "umbrella clauses." Yet, the Tribunal's decision on whether the claimant had an investment deserves to generate the greatest controversy.