Summary

Reproduced from www.worldbank.org/icsid with permission of ICSID. (Document, does not apply to summary and/or TDM IACL Case Report below).

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Case report (free download)

Case Report by Marina Kofman, Editor Ignacio Torterola

Summary

Claimant brought an action for relief against Montenegro pursuant to the Cyprus-Montenegro BIT ('BIT') alleging Montenegro breached, inter alia, fair and equitable treatment, full protection and security, most-favoured nation and expropriation protections in the BIT in relation to its investment in an aluminium plant located in Montenegro. Following preliminary objections, the Tribunal decided to have a phase of the proceedings dedicated to determining whether Claimant has a "seat" under Article 1(3)(b) of the BIT, in order to qualify for the Treaty's protections as an "investor".

Main issues

Definition of "seat" of incorporation under international law as well as under Cypriot and Montenegrin law.

CEAC Holdings Limited v Montenegro - ICSID Case No. ARB/14/8 - Award of the Tribunal - 26 July 2016

Case report provided by International Arbitration Case Law (IACL)

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