Madagascar is ordered to bear costs of the proceedings, but costs of representation lie where they fall

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Reversal of burden of proof may justify annulment, but no such reversal took place here

Committee is unpersuaded that right to effective counsel qualifies as a fundamental rule of procedure

Mr. Bottini is unconvinced that the ICC Primary Objection was implicitly rejected

Dissenter emphasizes that ICSID tribunals have an obligation to consider and decide all jurisdictional objections raised by the parties

Majority sees “strong argument” that applicant should request a supplementary decision before filing for annulment if such a decision could address its concerns

Majority considers that both ICC arbitration-related jurisdictional objections were addressed in the award; however, more explicit approach would have been “strongly preferable”

In the ICSID proceedings, Madagascar raised two jurisdictional objections related to the previous ICC BIT arbitration

Jurisdictional findings can only be annulled for manifest excess of powers if they rely on an interpretation that is “obviously wrong”

Tribunal must address all questions submitted to it, but not all arguments advanced by the parties

Parties agree on stay of enforcement; initial committee chair resigns

Background: Madagascar files for annulment of award that held the state liable for a breach of FPS standard

Claimants are ordered to pay the arbitration costs, as well as a portion of Armenia’s legal costs

No proof that Arin US indirectly controlled Arin Armenia

No proof that Mr. Khudyan acquired the alleged investments on behalf of Arin US

Mr. Khudyan acquired 61.1% of shareholding in Arin Armenia – but previous transactions are not made out due to evidentiary issues

Abuse of right objection is rejected failing a risk of double recovery or duplicative liability

Absent a specific provision in this sense, the fact that Arin US is controlled by an Armenian citizen is deemed irrelevant

State mistakenly treating Mr. Khudyan as a non-citizen does not amount to the termination of his Armenian citizenship

Mr. Khudyan did not automatically lose his Armenian citizenship when he acquired US citizenship, in violation of the Armenian Citizenship Law

Draft ILC Articles on Nationality do not reflect customary international law

Consular registration requirement cannot have the effect of rendering Armenians living abroad stateless

Mr. Khudyan did not lose his USSR/Armenian citizenship as a result of Armenia’s declaration of independence

ICSID Convention prohibits claims by dual nationals against one of their home states

Absent express language, the tribunal is unwilling to read a prohibition against claims by a dual national against one of his home states into the BIT

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