Casinos Austria International GmbH and Casinos Austria Aktiengesellschaft v. Argentine Republic - ICSID Case No. ARB/14/32 - Award of the Tribunal - 5 November 2021
Country
Year
2021
Summary
Reproduced from www.worldbank.org/icsid with permission of ICSID. (Document, does not apply to summary and/or TDM IACL Case Report below).
Case Report (free download)
Case Report by Juan Pablo Gómez-Moreno, Editor Ignacio Torterola
Summary
Claimants brought an action for relief against Argentina under the Argentina-Austria BIT (the 'BIT') alleging Argentina breached, inter alia, fair and equitable treatment and expropriation protections in the BIT concerning its investment through the revocation of a gambling license. A majority consisting of Mr. Hans Van Houtte and Mr. Stephan Schill considered that Respondent breached the protections relative to indirect expropriation incorporated in articles 4(1) and 4(2) of the BIT because the measures enacted by local authorities were not applied following the regulatory powers of the state as they were arbitrary and disproportionate under international law.
Main issues
indirect expropriation and regulatory powers of the state, damages for the expropriation of individual assets, causes of action derived from shareholding rights, content and scope of the fair and equitable treatment standard.
Case report provided by International Arbitration Case Law (IACL)
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