Delay in receiving local rulings means domestic remedies have been exhausted

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Expropriation claim was likewise within tribunal’s jurisdiction, as arbitrators were unprepared to rule out the use of puissance publique on a prima facie basis

FET claims likewise cleared jurisdictional hurdle, as tribunal held alleged change in policy was capable of constituting FET breach; allegedly confidential government documentation was part of the record in light of lack of formal challenge by Pakistan

Importation of FET through MFN satisfied the <em>prima facie</em> test

MFN claims passed the prima facie test; press reports were relevant for jurisdictional test

Prima facie test for making out claims at jurisdictional stage was applied both to factual and legal aspects

Puissance publique test became irrelevant in light of Bayindir’s abandonment of contract claims

There was no conflict between New York Convention and ICSID Convention

Tribunal saw no abuse of process

The “essential basis” of the claim was not purely contractual

Tribunal confirmed conceptual distinction between contract claims and treaty claims

“Salini criteria” were met

There was no lack of financial contribution in light of costs of providing guarantees

Tribunal held that non-financial contribution qualified as an investment under the BIT

Legality requirement related to investment’s validity, rather than to its definition

Notice requirement was not deemed to be jurisdictional in character

Tribunal was not bound by previous arbitration practice, but would “carefully consider” it; arbitrators did not distinguish between jurisdictional and admissibility issues

Tribunal recommended provisional measures upon Bayindir’s application; Pakistan’s security for costs request was rejected

Background: Failed highway project gave rise to ICSID claim

Background: Claimants acquired PV projects shortly after Spain adopted RD 661

Clone- Dispute is not limited to substantive provisions of Foreign Investment Law

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