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No abuse as claimant only lodged treaty claims with the tribunal
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Mere possibility of claims brought under second treaty does not lead to abuse or treaty conflict
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Claims are not contractual, as investors relied on their treaty rights
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Achmea ruling and subsequent declarations cannot alter BIT’s ordinary meaning
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BIT is not terminated or incompatible with EU law
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Inappropriate to predict enforceability of award before local courts
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Amicable negotiation provision contains no mandatory obligation
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FET, FPS, and discrimination claims meet the prima facie test
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Expropriation claim is also made out prima facie, but claimants will have to prove loss of value
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Investors’ failure to support their free transfer, human rights, and failure to negotiate claims leads to dismissal
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Customary prima facie test assumes all facts pleaded by claimant as true
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BIT remains applicable even after transfer to shell entity
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Intra-EU objection is timely as Achmea ruling amounts to new fact
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Objections to umbrella clause claim are joined to the merits
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