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OIC Treaty contains consent for arbitration
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Background: Investment in Iraq’s telecommunications sector leads to arbitration
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Libya’s consistent position that it has appointed Mr. Thomas only for BIT claims implies there is no tribunal in place for claims under the OIC Treaty
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Parties debate whether arbitration can proceed under both treaties
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Background: parties dispute scope of Libya’s appointment
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Abuse of process defence is inadmissible
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OIC Agreement does not provide for PCA intervention
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Annulment judge won’t act as appointing authority
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Article 8 OIC Agreement is an MFN clause
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Treaty’s MFN obligation did not extend to arbitral consent
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Investor to bear most of the costs
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Conciliation is not a necessary precondition to arbitration
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No limitation for natural resources disputes under the applicable treaty
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Arbitration clause in OIC Agreement is not limited to state-to-state disputes
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No ground for a restrictive interpretation of OIC Agreement
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No breach of FET or discriminatory treatment given the investor’s failure to perform
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Alleged illegality should reach a certain level of gravity
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ISDS mechanism not barred by contemplated international court
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OIC Agreement’s “public order or morals” clause is not a legality clause
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Exploration licence was an expropriable asset
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Background: manganese exploration activities are stopped after licence is not renewed
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Treaty contains unambiguous consent to arbitrate
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Refusal to renew licence was justified given investor’s lack of performance
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Mere threat to terminate licence cannot amount to expropriation
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