State immunity — Attachment — State corporation — Independent legal personality — Whether entitled to immunity from pre–judgment attachment

Provisional measures — Competence to award — Pre–judgment attachment order granted by municipal court — icsid arbitration proceedings commenced — Whether competence of icsid tribunal excludes jurisdiction of municipal courts to order provisional measures

Jurisdiction — Of icsid arbitration tribunal — Whether competence of tribunal excludes jurisdiction of municipal courts — Interim relief — Whether parties entitled to seek interim relief from municipal courts in order to guarantee execution of subsequent icsid award

Treaties — Interpretation — Powers of municipal courts — Whether provisions of icsid Convention exclude power of municipal courts to order provisional measures — The law of France

Provisional measures — Jurisdiction of tribunal to recommend provisional measures — Company entering into management agreement with foreign State for management of fishing vessels — Company terminating agreement — Company obtaining attachment order over vessels in municipal courts of third State as security for debt owing by Contracting State prior to institution of proceedings — Whether icsid Convention and Rules and institution of icsid proceedings excludes jurisdiction of municipal courts to order provisional measures — Whether seeking provisional measures in municipal courts an abuse of process

Jurisdiction — Of tribunal — Management agreement between company and foreign State for conversion and operation of fishing vessels — Agreement, terminated by company, containing icsid arbitration clause — State claiming company liable for damages in respect of choice of vessels — Whether claim relating to “interpretation, application and execution” of agreement so as to be within jurisdiction of tribunal

Applicable law — Arbitration proceedings — Agreement containing icsid arbitration clause — Law governing proceedings — Tribunal deciding ex aequo et bono

State responsibility — For breach of contract — Management agreement between company and foreign State for operation and management of fishing vessels — Company validly terminating agreement — Debt due and owing to company under agreement — Tribunal deciding ex aequo et bono — Relevance and effect of consideration of behaviour of parties

Arbitration — Agreement to arbitrate — Parties to agreement — Contract between State-owned entity and foreign company providing for arbitration Contract countersigned by minister — Local law providing for international arbitration — Whether State becomes party to agreement countersigned by minister — Negotiating history of agreement — Whether local law and agreement provides State’s consent to arbitrate

State immunity — Waiver — Agreement to arbitrate — Whether State’s agreement to international arbitration amounts to waiver of immunity — State contract providing for icc arbitration

Parties — To icc arbitration proceedings — Contract between State-owned entity and foreign company providing for icc arbitration countersigned by minister — Whether State party to contract Contract

Applicable law — Proper law of contract — Contract between State-owned entity and foreign company — Contract subject to local law — Whether local law deemed to include principles of international law — Pacta sunt servanda — Principle of just compensation for expropriation — icsid Convention — Whether ratification of Convention by State indicates intention to abide by certain international law principles — Force majeure — Whether State-owned company under control of State may invoke force majeure clause

Jurisdiction — Of arbitration tribunal — Competence of tribunal to determine own jurisdiction

Expropriation — State-owned entity — Conclusion of concession with foreign private company — Cancellation of concession by State — Contractual limitations upon State’s powers of expropriation — Compensation Valuation of investment

State responsibility — For breaches of contract — Contract concluded by State-owned entity — Contract countersigned by minister — Whether State responsible as a party to contract

Damages — Measure of damages — Breach of State contract — Damnum emergens and lucrum cessans — Loss which could be foreseen at date of contract — Method of assessment — Discounted cash flow — Value of investment and incremental increases

Costs — icc arbitration — Costs of arbitration and legal costs — Claimant succeeding only in part — Percentage of costs recoverable — Effect of dismissal of counterclaim

Procedure — icc arbitration — Arbitrator refusing to sign award

Jurisdiction — Of arbitration tribunal — Consent to arbitrate — International Chamber of Commerce arbitration — Contract between State–owned entity and foreign company containing icc arbitration clause — Whether State a party to contract — Signature by State of terms of reference pursuant to icc Arbitration Rules — Express reservation as to jurisdiction of tribunal — icc award affirming jurisdiction of tribunal — Whether terms of reference constitute agreement to arbitrate

State immunity — Waiver — Whether signature of terms of reference constitutes submission to jurisdiction of arbitration tribunal — Whether lodging of defence on merits constitutes waiver of immunity

Parties — To agreement — State–owned entity endowed with independent legal personality — Conclusion of contract with foreign private company — Contract containing icc arbitration clause — Whether State–owned company acts on behalf of State — Supervisory control by government minister Counter–signature of contract as “approved, agreed and ratified” — Whether rendering State a party to the contract

Procedure — Competence of arbitration tribunal to determine its own competence — Decision on competence subject to review by municipal courts — New French Code of Civil Procedure, Articles 1502 and 1504

Recognition and enforcement — icc arbitration award — Action for annulment before municipal courts — Grounds for annulment — Excess of jurisdiction — Whether award made in absence of arbitration agreement — New French Code of Civil Procedure, Articles 1502 and 1504

State responsibility — Contractual obligations — State–owned entity — Conclusion of concession with foreign private company — Whether State–owned entity acts on behalf of State — Circumstances in which State becomes a party to such a contract — The law of France

Recognition and enforcement — icc arbitral award — Enforcement of award — Award rendered abroad — Action for enforcement in municipal courts — New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958, Articles IV and V — Conditions for refusal of enforcement — Burden of proof — Pending action for annulment of award before courts of country where award rendered — Whether award to be regarded as set aside or suspended — The law of the Netherlands

Jurisdiction — Of arbitration tribunal — Consent to arbitrate — International Chamber of Commerce arbitration — Contract between State–owned entity and foreign company containing icc arbitration clause — Whether State a party to contract — Signature by State of terms of reference pursuant to icc Arbitration Rules — Express reservation as to jurisdiction of Tribunal — icc award affirming jurisdiction of tribunal — Whether terms of reference constituting agreement to arbitrate

State immunity — Waiver — Whether signature of terms of reference constitutes submission to jurisdiction of arbitration tribunal — Whether lodging of defence on merits constitutes waiver of immunity

Parties — To agreement — State–owned entity endowed with independent legal personality — Conclusion of contract with foreign private company — Contract containing icc arbitration clause — Whether State–owned company acts on behalf of State — Supervisory control by government minister Counter–signature of contract as “approved, agreed and ratified” — Whether rendering State a party to the contract

Procedure — Competence of arbitration tribunal to determine its own competence — Decision on competence subject to review by municipal courts — New French Code of Civil Procedure, Articles 1502 and 1504

Recognition and enforcement — ICC arbitration award — Action for annulment before municipal courts — Grounds for annulment — Excess of jurisdiction — whether award made in absence of arbitration agreement New French Code of Civil Procedure, Articles 1502 and 1504

State responsibility — Contractual obligations — State–owned entity Conclusion of concession with foreign private company — Whether State-owned entity acts on behalf of State — Circumstances in which State becomes a party to such a contract — The law of France

Jurisdiction — Of arbitration tribunal — Egyptian investment law providing for recourse to icsid arbitration — Joint venture agreement entered into between State and foreign investor pursuant to State’s municipal investment law — Joint venture project cancelled by State — Foreign investor not waiving right to continue pursuit of other remedies prior to instigation of icsid arbitration proceedings — Whether failure to waive other remedies impairs consent to icsid arbitration — icsid Convention, Article 26

Arbitration — Agreement to arbitrate — State investment law providing for recourse to icsid jurisdiction in certain circumstances — Whether clause in investment law constitutes consent to arbitrate — icsid Convention, Article 25

Applicable law — Joint venture agreement between State and foreign investor entered into pursuant to State’s municipal investment law — Whether clause in investment law constitutes consent to icsid jurisdiction — Absence of specifically agreed choice of law — Law of Contracting State together with applicable principles of international law — icsid Convention, Article 42(1)

Interpretation — Of instruments conferring jurisdiction on international tribunals — Principles of interpretation — To be interpreted neither restrictively nor expansively but objectively and in good faith — No presumption of jurisdiction — icsid Convention and Egyptian municipal laws

Procedure — Stay of proceedings — Power of tribunal to order — Same parties and dispute before other forum — Need to preserve international judicial order and avoid clashes between competing jurisdictions

Procedure — Findings of fact — Dispute submitted to International Chamber of Commerce arbitration — icc tribunal rendering award — icc award annulled on basis that icc tribunal lacked jurisdiction to hear the dispute — Same dispute subsequently submitted to icsid arbitration — Whether icsid tribunal has power to adopt findings of fact made by previous tribunal hearing the same dispute

Expropriation — Joint venture agreement between State and foreign investor for tourist development — Project encountering domestic political opposition due to presence of antiquities on development site — State cancelling project — Exercise of right of eminent domain — Nationalization or confiscation pursuant to municipal law of State requiring fair compensation — Adequacy and appropriateness of compensation offered

State responsibility — For acts of officials — State authorities agreeing to and approving joint venture project between State and foreign investor — Foreign investor relying on State officials in entering into project — Allegations that project lay outside scope of municipal laws — Whether failure to comply with municipal law not opposable to investor in international law — State responsible for unauthorized or ultra vires acts of its officials and agents

Municipal law — Effect of breach by State of its requirements of municipal law — State failing to comply with publication and registration requirements of its municipal law relating to joint venture contracts and State decrees — Whether exempting State from liability under international law for failure to perform contractual obligations

Compensation — For expropriation — Methods of valuation — Value of investment in joint venture company — Capital expenditures and loans plus loss of opportunity — Effective date of assessment — Costs incurred in obtaining indemnification also recoverable