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Provisional measures are urgent and necessary since there is a risk that the arbitration tribunal and the German courts will issue conflicting decisions regarding the validity of the arbitration agreement
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German Proceedings threaten rights to access and exclusivity of ICSID arbitration
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Tribunal sees no obvious defect that would deprive it of prima facie jurisdiction
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Tribunal sets out four-prong test for provisional measures and recalls that orders enjoining a party from pursuing parallel domestic proceedings are not unprecedented in ICSID arbitration
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ICSID provisional measures recommendations are legally binding
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Tribunal opts to rule on provisional measures request without holding hearing
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Background: Claimants request provisional measures after Spain lodges German Proceedings
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