Is There Room for Customary Law in International Investment Law? (The Requirement of Continuous Corporate Nationality in the Loewen Case)
Article from: TDM 3 (2005), in Case Comments & Awards
In its award of 26 June 2003, the ICSID arbitral Tribunal dismissed the claim of the Loewen Group, Inc., (TLGI) against the United States for lack of TLGI's continuous nationality. The Tribunal upheld the U.S.A.'s additional objection to its jurisdiction because of the change in the claimant's corporate structure and nationality following the reorganization plan approved by the Canadian and U.S. bankruptcy courts, while the ICSID proceedings were pending. In order to demonstrate that a claimant like TLGI could no longer bring a claim before ICSID arbitration ...