Economics, trade and finance — Investment protection — Investment — Agreement of 1997 between the Swiss Confederation and the Republic of the Philippines on the Promotion and Reciprocal Protection of Investments (“BIT”) — Article 2 — Investment “in the territory” of a Contracting Party — Contract for the provision of services — Performance mostly outside the territory of the host State — Whether an investment in its territory — Part of performance taking place in the host State

Economics, trade and finance — Investment protection — Umbrella clause in investment treaty — Obligation imposed by “umbrella clause” in respect of contractual obligations — Obligation on Philippines to pay monies owing pursuant to contract — Whether enforceable through ICSID arbitration — Effect of exclusive forum clause in the contract

Economics, trade and finance — Investment protection — Expropriation — Whether non-payment of contract debt capable of constituting expropriation

Arbitration — ICSID — Jurisdiction — BIT — Provision for settlement of investment disputes — Whether extending to dispute over breach of contract where no allegation of breach of treaty — Contract containing exclusive forum clause — Whether depriving ICSID tribunal of jurisdiction — Whether requiring stay of proceedings — Essentially contractual claim — Proceedings stayed pending determination of amount payable under terms of CISS Agreement

Arbitration — Procedure — ICSID Arbitration Rules, Article 19 — Stay of proceedings — Exclusive jurisdiction clause binding on parties and applicable to claim — Proceedings stayed pending determination of amount payable

Expropriation — BIT — Article 6 — Whether refusal to pay monies owed under contract amounts to expropriation of property — Mere non-payment of invoices where amount owing is in dispute does not amount to expropriation under terms of BIT