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Tribunal interprets FIL in line with later move by Kyrgyzstan to reassure foreign investors
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State to bear 2/3 of costs and legal fees
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No reduction of compensation for contributory fault
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DCF and market capitalisation methods too speculative
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Sunk costs approach needs to consider assets’ residual value
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Dispute is not limited to substantive provisions of Foreign Investment Law
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Indirect investments are covered by the FIL
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Unexpected termination of the licences amounts to expropriation
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No proof of bribery, as investors had reason to believe officials were acting legally
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Jurisdiction not defeated by alleged illegality – but tribunal can rule on these allegations’ merits
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Interpretation conflict over Investment Law enacted in two different languages
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