Treaties — Bilateral Investment Treaty between Egypt and United States (“BIT”) — Liberalization of Egyptian cotton industry — Claimants shareholders of privately owned cotton company — Claimants alleging actions of Egyptian authorities violating BIT provisions — Non-discrimination violations — International principle of transparency — Whether Egypt violating Articles II(2)(a) and II(4) of BIT

Discrimination — Non-discrimination principle of BIT — BIT prohibiting discrimination based on nationality — BIT requiring Respondent to treat equally investments in like situations — Prima facie in similar situations — Compensation relating to debts incurred prior to Claimants’ incorporation — Participation in scheme prerequisite to compensation — Whether Respondent breaching Article II(2)(a) of BIT

Transparency — Whether lack of transparency — Burden of proof — Laws and decrees public and available — Foreknowledge of rules and regulations governing investment — Whether Respondent breaching Article II(4) of BIT