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Arbitrators hold that the ordinary meaning of NAFTA article 1101(1) in light of its context precludes actions by foreigners against a state in which they have not made investments
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Object and purpose of chapter 11 confirms the tribunal’s conclusions
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Subsequent actions of NAFTA member States also confirm arbitrators’ conclusion
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Tribunal considers that NAFTA negotiating history is of limited use
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Tribunal confirms its findings by reference to previous arbitral decisions
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Costs are evenly split between the parties
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Mexico submits a non-disputing party brief
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Parties agree on consolidation of claims and on bifurcation of “preliminary issue”
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