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Tribunal sees no discrimination, since any difference in treatment was justified by factual, technical, or legal differences
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Claims for lack of due process and bad faith are also rejected
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Tribunal sees no breach of legitimate expectations or transparency obligation
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Mexico’s conduct was consistent with the applicable legal framework and the terms of the concession agreement, therefore no arbitrariness is established
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No need to decide whether FET provision is tied to minimum standard of treatment
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FET claims are based on alleged breach of promises by government officials and allegations of unequal and anti-competitive treatment
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Arbitrators see no independent standard of investment promotion and protection
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Claims initially raised but not pursued were abandoned; BIT and principles of international law are applicable to the merits
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Contested measures were not triggered by conduct that mirrored a request by Eutelsat that pre-dated acquisition of foreign control – meaning that theory of mirror acts does not apply
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Tribunal sets out three-prong test for mirror acts theory
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Facts that pre-date making of investment may be considered in assessing the existence of legitimate expectations
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Background: Investor in telecoms company lodges BIT claim against Mexico
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Background: Libreville’s new market project was stopped in its tracks
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Contracts are not governed by administrative law
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Failure to comply with order to post guarantee on costs attracts symbolic sanction
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Claimants win merits, but tribunal does not award all heads of damages
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On quantum, 50-year investment proves hard to quantify
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Gabon is also estopped from challenging unratified tax agreement
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State cannot claim that contracts are not binding when it frustrated their entry into force
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Document is found inadmissible under Gabonese law
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