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In the absence of manifest injustice, mere assumption of lack of access to an independent and impartial tribunal cannot substitute consent to arbitrate
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Lack of offer to arbitrate or arbitration clause excludes any jurisdiction over the claims
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Application of effet utile principle cannot run against the clear meaning of a provision
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Object and purpose of the treaty do not create a presumption in favour of consent to arbitration
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Existence of substantive obligations in the treaty does not necessarily entail a possibility to resort to investor-state arbitration
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Majority considers that the expression “recourse may be had” is “unusual” in arbitration agreements
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Ordinary meaning excludes investor-state disputes from the scope of Article XV
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Arbitrators zero in on jurisdictional objection regarding the interpretation of Article XV of the Framework Agreement
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Tribunal orders urgent provisional measures; condition on provisional measures is subsequently lifted, as claimants prove impossibility to provide bank guarantee
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Tribunal decides on Venezuela’s representation, ruling in favour of Maduro’s government
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Background: Claimants seek payment of outstanding debts and additional costs under construction contracts
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