Summary

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Case Report (free download)

Case Report by Raul Pereira Fleury, Editor Ignacio Torterola

Summary

Claimant brought an action for relief against Costa Rica pursuant to the Costa Rica-Switzerland BIT ('BIT'), alleging that Costa Rica breached the fair and equitable treatment ("FET") standard contained in the BIT in relation to its investment in two Costa Rican enterprises (Tropigás and GNZ) engaged in the storage, packaging, distribution, and commercialization of liquefied petroleum gas (LPG). Following the jurisdictional phase of the proceedings whereby the Tribunal found it had jurisdiction, the Tribunal proceeded to hold the merits phase of the case, to determine if whether Costa Rica breached the FET standard under Article 4 of the BIT.

Main issues

Breach of FET standard, repudiation of regulatory framework, legitimate expectations, arbitrariness, lack of transparency, lack of administrative due process, bad faith.

Cervin Investissements S.A. and Rhone Investissements S.A. v. Republic of Costa Rica (ICSID Case No. ARB/13/2) - Award - 7 March 2017

Case report provided by International Arbitration Case Law (IACL)

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