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Iura novit curia principle imposes a duty on the tribunal to respect due process
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Not all ambiguous words are equally important
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Conflicting precedents can still offer guidance to the tribunal
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Costs lie where they fall
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No jurisdiction under contract since Kazakhstan is not a signatory
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Swiss and Kazakh law also offer no route for jurisdiction under the Association Agreement
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No expropriation when there is nothing to expropriate, according to the majority
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Cooling-off requirement is met, and might be optional in any case
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Extinctive prescription defence fails on facts
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Majority arbitrators find expropriation claims unsubstantiated in law and facts
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Dissenter disagrees with the majority’s interpretation of the Association Agreement
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MFN clause can import FET, FPS standard and umbrella clause from other BITs
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For the majority, an umbrella clause does not operate when the state is not a party to contract
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Request for reconsideration is denied
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