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Although it prevailed, Mexico is not awarded its legal or arbitration costs
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GAMI failed to demonstrate quantifiable damage connected with alleged unfair and inequitable treatment
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Barcelona Traction decision only applied to diplomatic protection; minority shareholder GAMI has standing to bring NAFTA claim
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Jurisdiction upheld despite partial redress obtained by local entity before Mexican courts
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Tribunal warns that states can’t plead poverty as excuse for not living up to international standards
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Discrimination claim fails; no like circumstances, and rational objective pursued
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Local action by GAM does not affect GAMI’s expropriation claim under NAFTA
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Expectations are to be assessed at time of investment
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Mere failure to fulfil domestic law is insufficient; “outright and unjustified repudiation” is needed – and is not satisfied here
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Minimum standard of treatment has evolved since Neer case
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