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Tribunal majority sees confirmation for its conclusion in fact that claimant failed to reveal whether his funding arrangement would cover adverse costs awards
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Parties’ procedural conduct is not key in this case
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Tribunal majority considers that imposing 1.2 million USD security for costs would not affect claimant’s ability to pursue the arbitration
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Claimant would be willing to comply with hypothetical adverse costs award
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Tribunal majority finds that claimant’s insolvency indicates that Mr. Contreras may be unable to comply with hypothetical adverse costs award
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2022 ICSID AF Rules contain specific provision on security for costs, which is “independent” from rulings issued under the 2006 regime
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Background: Costa Rica asks for security for costs in resubmitted ICSID arbitration
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