Summary

Source: icsid.worldbank.org

HCI, Highly Confidential Information

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7. The Respondent argues that Sauna has taken an umeasonable and incorrect approach to designating as HCI. It argues that Sauna proposed the HCI regime in P02 on the basis that it was intended to prevent the disclosure of "confidential business infonnation"

and asserts there is no basis for extending the regime to cover "especially sensitive material" or for imposing a new requirement that the information must not be available from other sources.

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12. The Claimant argues that (i) the designated sections of C-110 are "plainly HCI" (as defined in P02) and Finland has identified no principled basis justifying the removal ofthe designation, and (ii) pennitting disclosure would cause serious prejudice to Sauna.

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22. On balance, the Tribunal concludes that Finland is not significantly prejudiced, because it can refer to the witness statement of. .. to make various points about regulatory risk and financial analysis.

23. Nevertheless, we give leave to Finland to reapply in the event that, for example,. ..

is requested by the SPN tribunal, or it becomes evident that it was shared and Finland cannot otherwise obtain a copy through document production, or substantial prejudice may result.

IV. DECISION

24. The Tribunal declines Finland's application but gives leave for it to reapply.

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