Jurisdiction — Objections to jurisdiction — Bilateral investment treaty — Exceptions to the nationality requirement — icsid Convention, Article 25(2)(b) — Whether company incorporated in one State Party and owned by nationals of another State Party is a “national” of the former — Existence of prima facie “legal dispute” for the purpose of determining jurisdiction

Arbitration — Bilateral investment treaty — Alleged violations of bit by Respondent through its State enterprise

Foreign investment — Failure to provide “fair and equitable treatment” and “full protection and security” to an investment — UK–Egypt Bilateral Investment Treaty, Article 2(2) — Failure to prevent seizure of an investment — Failure to impose substantial sanctions for seizure

Expropriation — Failure to provide prompt, adequate and effective compensation — UK–Egypt Bilateral Investment Treaty, Article 5

Municipal law — Time bar — Whether claims time-barred by domestic statute of limitation — Domestic statutes of limitation not binding on international tribunal

Damages — Determination of damages — Prompt, adequate and effective compensation — Compensation amounting to the market value of an investment — UK–Egypt Bilateral Investment Treaty, Article 5

Annulment — Time limit for request for annulment — icsid Convention, Article 52 — Raising new arguments related to a ground of annulment invoked within the time limit fixed in the icsid Convention

Annulment — Grounds for — Manifest failure to apply applicable law — icsid Convention, Article 42(1) — Subject matter of commercial agreements as opposed to subject matter brought before icsid arbitration — Role of international law in the context of Article 42(1) — Relationship between international law and domestic law

Annulment — Grounds for — Manifest excess of power by arbitral tribunal — Sufficiency of evidence — Relationship between domestic arbitration and arbitration under the icsid Convention — Compensation under domestic arbitration to be taken into account when awarding damages under the icsid Convention — Criteria for compensation under UK–Egypt Bilateral Investment Treaty, Article 5

Compensation — Interest — How calculated — Compound interest — Exercise of discretion