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Tribunal failed to state reasons in ignoring several of Guinea’s arguments that would have had a material difference
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Decision on costs is also annulled, as it is “inextricably linked” with annulled part of the award
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Committees have a certain degree of discretion in annulling award
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Error in citing correct law does not warrant annulment when content is identical
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State obtains stay of enforcement of award
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Applicable law is Senegalese law
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Establishment Agreement implicitly encompasses earlier contracts
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Claimant’s imprudence should not be compensated by respondent
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Senegal contests jurisdiction over claimant owned by Panamanian shell entity
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Foreign control under article 25 can be indirect
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Tribunal chair defends decision on jurisdiction and interpretation of Article 25(2)(b)
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On the merits, wrongful termination is compensated
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Investors were contracted to build 15000 units of low-cost social housing
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Contract might be void under local law, but state did not raise that argument
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