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Majority grants a fraction of damages claimed by investor and orders parties to share costs
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NAFTA does not require exhaustion of local remedies
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Claimant has standing to bring a claim as a US national, despite being a permanent resident in Mexico
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Only the notice of arbitration (and not the notice of intent) can interrupt the NAFTA limitation period
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Tribunal finds that NAFTA limitation period may only be suspended by “unavoidable events”
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Tribunal accepts ancillary claim, but rejects claims pre-dating NAFTA’s entry into force
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Tribunal adopts narrow view of “like circumstances”
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In dissenting opinion, Mexico’s nominee sees insufficient proof of discrimination
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Majority finds that Mexico de facto discriminated against the investor in applying its tax law
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Previous NAFTA decisions and criteria for lawfulness of expropriation under NAFTA confirm the tribunal’s findings on expropriation
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Tribunal distinguishes between indirect expropriation and valid governmental activity
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Denial of tax rebates does not amount to an unlawful expropriation where the claimant was never entitled to the rebates under Mexican law
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Request for clarification is rejected as it seeks to secure a new remedy
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US and Canada submit non-disputing party briefs, and tribunal decides to bifurcate jurisdictional questions
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Referring to WTO law, the majority considers that it could validly shift the burden of proof to the respondent
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