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In Decision on Interpretation, tribunal clarified that order restoring arbitration agreement was reciprocal
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Jordan’s “retroactive” termination of ATA’s right to arbitrate breached the BIT
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Tribunal found that it had ratione temporis jurisdiction over dispute stemming from annulment of contractual arbitration agreement
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Even if arbitral award qualified as protected investment (quod non), tribunal would still lack jurisdiction over award’s annulment
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Tribunal declined jurisdiction ratione temporis over dispute stemming from annulment of arbitration award
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BIT does not apply to pre-existing disputes, even though it applies to pre-existing investments
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Investment must be viewed as “bundle of rights”
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Background: Fate of commercial award before Jordanian courts led to treaty claim
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Award qualifies as protected investment
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ICSID tribunal directs Jordan to terminate domestic legal proceedings
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No need to order provisional measures post-award, since award is clear in what it entails
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Investor “unnecessarily” increased costs of process by not agreeing to a stay
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Committee declines to be swayed by third-party financing arrangements
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Tribunal issues interpretation of award, and clarifies that it reinstated a contractual arbitration clause that had been extinguished under Jordanian law
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Timing of BIT’s entry into force nixed several other claims
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Award is terse on treaty violation
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