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No expropriation, since losses have been insufficiently substantiated and, in any case, were not caused by the state
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Non-impairment standard overlaps with FET; tribunal sees no discrimination
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Obligation to grant permits and authorizations does not apply to suspension of permits
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Press statements cannot give rise to moral damages
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Majority finds that erroneous press statements by the Health Minister violated duty of prudence and neutrality in FET standard – but arbitrators see no causal nexus with damages claimed
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Since these irregularities were promptly corrected by a local court, the majority ultimately finds no treaty breach
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Tribunal majority finds that cancellation of cure period and the ensuing closure of the plant were arbitrary
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Police powers doctrine is not relevant to this case
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Legitimate expectations must be assessed at the time when the investment was made; regulatory inconsistencies during the lifetime of the investment are more appropriately assessed by looking for arbitrariness and lack of transparency
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FET standard is linked to customary international law, which has evolved beyond the Neer test
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Cancellation of cure period were irregular under domestic law
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Environmental authorities had a certain discretionary power when it came to updating the plant’s environmental permits
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Requirement that notice of dispute must contain “detailed information” must be read in light of the object and purpose of the notice requirement, which is to facilitate negotiations
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Background: Series of sanitary orders lead to closure of meat processing plant, prompting ICSID claim
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