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Revision tribunal side-steps question of timeliness of Albania’s application
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No need to decide how fact allegedly discovered by Albania would impact the award
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Alleged newly discovered facts were discussed in the award, and were thus not unknown to the original tribunal
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Parties agree on applicable standards for expedited objections and revision
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Background: Albania seeks revision of adverse award by relying on outcome of local criminal proceedings
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Mr. Poncet is not prohibited from acting on the revision tribunal, as ICSID Arbitration Rule 1(4) does not rule out partial reconstitution
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Unchallenged tribunal members agree that ICSID Arbitration Rule 1(4) applies to revision proceedings
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Background: Albania challenges claimants’ appointee to revision tribunal after remaining original tribunal members refuse to serve
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ICSID award can be enforced even if annulment proceedings are ongoing
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Airspace charges are not covered by state immunities
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Sums are owed to Albania, not to legally distinct entity
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Albania was ordered to reimburse a majority of the claimants’ costs
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Tribunal opts for DCF valuation despite scarcity of data
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No need to show causation for each individual act
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BIT’s compensation and valuation standards are inapplicable to unlawful expropriation
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Agonset taking was not a legitimate exercise of police powers, but an orchestrated campaign against claimants
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Tribunal finds that the claimants were deprived of their investments in Agonset
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Hydro was not denied right of first negotiation
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Claims relating to investments associated with Kalivac were rejected
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“[A]dministrative irritations and bureaucratic incompetence” do not amount to FET breach
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The Kalivac Project was not expropriated
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Wind farm project proposal was not a covered investment
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Local court proceedings do not render the claims inadmissible
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Claims are not purely contractual
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