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Liberia’s breach of the agreement entitles LETCO to damages
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Tribunal finds Liberia in default, and orders costs against it
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Liberia’s bad faith leads to cost order
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Standard of compensation found under Liberian law
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Presumption that foreign control suffices for standing under article 25(2)(b) ICSID Convention
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Mere fact of signing ICSID arbitration clause with domestic entity could evidence agreement to consider it as foreign
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Liberia breached concession agreement by failing to notify LETCO of alleged breaches
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First ICSID rectification proceedings grants claimant’s amended costs
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Tribunal chastizes government, and refuses to discard witness statements – but would need to give them less weight
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Kazakhstan says law was repealed in full, and arbitration-offer was not preserved
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Arbitrators smile upon Kazakhstan’s objections with respect to 1994 law
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Arbitrators disagree with approach taken by tribunal in earlier ICSID case
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Claimant says 1994 law contained Kazakh offer to arbitrate with foreigners, and this still applies to Ruby Roz despite 2003 repeal of law
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Even if stabilization provision of repealed statute was applicable, its 10 year freezing period elapsed before arbitration was sought
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Eleventh hour criminal proceedings lead key witnesses of claimant to decline to appear at hearing
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