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The fact that the dispute was not capable of being settled through arbitration under Ecuadorian law was irrelevant
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Majority declined jurisdiction to decide whether or not the concession contract was null and void
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No exhaustion of local remedies requirement
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IBM could bring claims for damages suffered by its local subsidiary
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Majority found that contractual forum selection clause did not affect the tribunal’s jurisdiction under the BIT
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Majority rejected limitation period under Ecuadorian law as irrelevant
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After the decision on jurisdiction had been rendered, parties reached a settlement agreement, which the tribunal agreed to incorporate into a consent award
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