Committee sees no other violations of fundamental rules of procedure

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Applicants are ordered to bear entirety of costs as well costs of Armenia’s legal representation

Committee sees no failure to state reasons in addressing various claims in light of the “interwoven” aspect of the case

Absence of adequate and sufficient reasoning may amount to failure to state reasons; correctness of the reasoning is relevant at the annulment stage

Tribunal’s general remarks on the merits of time-barred claims had no effect on the outcome of the case

While claimants may have been surprised by tribunal’s reasoning, it was not arbitrary or unexpected

Tribunals have no obligation to ask questions; parties should not plead the case on the basis of speculation as to tribunal’s thinking

Claimants’ must accept the consequences of their strategic approach not to address statutory limitation issue thoroughly

No violation of the right to be heard where tribunal relies on arguments not advanced by the parties while staying within the dispute’s legal framework

Committee sees no gross misinterpretation and misapplication of statute of limitation provisions

Tribunal did not incorporate new requirement for interruption of statute of limitation under Armenian law

No unequal treatment of parties in ruling on request for witness testimony

No bias in tribunal’s decision on limitation period starting date

Committee may not revisit tribunal’s assessment of evidence and legal interpretation

Committee is unconvinced that the award permanently extinguished applicants’ claims under Armenian law

Committee may not entertain questions not put before the tribunal

Committee deems as irrelevant whether the limitation issue was dealt with as either admissibility or jurisdictional matter

Tribunal rightfully applied Armenian procedural law to contractual claims

Tribunal correctly analyzed timeliness of contractual claims under statutory limitation provisions of Armenian law

Committee stresses its limited role and refuses to examine legal and factual issues anew

Committee differentiates between failure to apply proper law and erroneous application

Committee conditions stay of award’s enforcement on applicants posting security bond

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