Denial of justice claim fails absent exhaustion of domestic remedies

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Claimant’s costs were unreasonably high, and his conduct contributed to the inefficiency of the proceedings

Arbitrariness under domestic law cannot be equated with FET breach

Success fee is not recoverable; ethical concerns left for other fora

Revocation of operating licences was non-transparent and arbitrary

In quantum decision, tribunal rules on implications of its merits findings

Alleged liberalisation of air traffic could not be relied upon, especially given Lebanon’s legal instability

Only Lebanon’s valuation model is consistent with the tribunal’s reading of the record

Claimant fails to rebut Lebanon’s justification for lack of compliance with domestic judgment

Tribunal asks for further input on damages

Suspension of licences was justified

Moral damages claims should be exceptional

Investor’s due diligence and conduct relevant for FET inquiry

Tribunal disagrees with claimant’s extensive interpretation of FPS standard

Greater role of due diligence to create legitimate expectations in highly-regulated sector

DCF approach flawed as entities did not qualify as going concern

Umbrella clause not applicable to Lebanon’s statutory obligations

No jurisdiction over alleged fiduciary and beneficial interest in Imperial Holding

Background: private jet venture hits the ground

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