WCV World Capital Ventures Cyprus Ltd - Channel Crossings Ltd v The Czech Republic - PCA Case No 2016-12 - Final Award - 26 July 2023
Country
Year
2023
Summary
FINAL AWARD
ARBITRAL TRIBUNAL
Juan Fernández-Armesto (President)
Stanimir Alexandrov
Marcelo Kohen
26 July
TABLE OF CONTENTS
ABBREVIATIONS AND ACRONYMS
TABLE OF CASES AND OTHER LEGAL MATERIALS
I. PERSONS INVOLVED IN THE ARBITRATION
II. PROCEDURAL HISTORY
III. FACTUAL BACKGROUND
IV. RELIEF SOUGHT
V. APPLICABLE LAW
VI. FINAL JURISDICTIONAL OBJECTION
VII. MERITS
VII.1. Fair and equitable treatment
VII.1.1. Did the regulatory changes performed by the Czech Republic
constitute, by themselves, a breach of the FET standard?
VII.1.2. Did the Czech Republic create and then breach legitimate
expectations?
VII.1.3. Did the Czech Republic fail to protect Claimants' acquired rights?
VII.2. Full protection and security
VIII. COSTS
IX. CONCLUSION
X. DECISION
...
X. DECISION
487. For the reasons set forth above, the Tribunal decides as follows:
1. DISMISSES the remaining jurisdictional objection brought by the Czech Republic.
2. DECLARES that it has jurisdiction to adjudicate Claimants' claims against the Czech Republic and that such claims are admissible.
3. DISMISSES Claimants' claims514.
4. DECLARES that each Party should bear 50% of the Administrative Costs and the totality of its own Legal Costs.
5. DISMISSES all other prayers for relief.
6. DECLARES the finalization of the arbitral procedure.
...