Allegations of breaches of good faith principle are dismissed

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No denial of justice in refusing to honour dubious ICC Award, but breach of FET standard overlaps with denial of justice

Tunisia breached the investor’s legitimate expectations, and admitted having instrumentalised Tunisian courts

No temporary expropriation, given supervening settlement, but later agreement obtained under duress resulted in dispossession

International public policy prevents upholding contract obtained under duress

Settlement agreement was obtained under duress

Conduct of state’s banking arm should be attributed to Tunisia, given evidence of instructions emanating from state authorities

Claims are admissible, as prescription would require explicit time-bar in applicable law

Customary international law is applicable alongside domestic law

Key role of claimant’s principal in negotiations has been known to state since beginning and offers no reason to lift corporate veil

New fact merely repeats circumstance previously found to be irrelevant to tribunal’s jurisdiction

Decision on Jurisdiction can be reconsidered, but only in exceptional circumstances

Tribunal can organise proceedings as it sees fit; new preliminary objection can be reviewed after jurisdiction was upheld, but only in exceptional circumstances

Multiple requests for provisional measures punctuate the proceedings, with tribunal declining jurisdiction over several of them

No urgency to grant security for costs in the circumstances

State’s civil servant can represent the state and appoint arbitrator

Background: Investment in privatised bank gives rise to 40+ year dispute

Dissenting arbitrator persuaded of impropriety

Even if fraud proven it would not appear to affect loss of Egyptian nationality

Majority distinguishes Siag case from outcome in Soufraki v. U.A.E.

Majority deems Egypt’s objection to be ill-timed, and also without merit

Mr. Siag vigorously contests fraud allegation

Egypt says new evidence casts doubt on validity of Lebanese nationality

Mr. Siag’s new Lebanese nationality led to lapse of Egyptian nationality

Costs are split, in view of novelty of issues

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