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In obiter dictum, arbitrators find that statute of limitations is determined by international, not domestic law
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Domestic law deemed relevant to determine if an investment has been made
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Although it prevailed, Czech Republic is awarded only 80% of revised legal costs and 90% of arbitration costs
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Distinction between treaty claims and contract claims led to dismissal of concerns regarding double compensation and overlapping jurisdiction
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Cooperation Agreement valid under Czech law, but not binding on Czech Republic
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Arbitrators accept that there will be a lengthy transitional process as government works out how to move to a free-market economy
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Cooperation Agreement was of preparatory nature and did not qualify as investment under BIT
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Tribunal only upheld jurisdiction over grounds listed as predicate to arbitration in dispute resolution provision
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Settlement Agreement with State enterprise did not affect treaty claims
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UK-Czechoslovakia BIT is binding on the Czech Republic
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Tribunal sees Czech politicians as generally encouraging investment, not making specific promises to claimant
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Tribunal treated existence of an investment as a merits question
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