Genin v. Estonia Alex Genin, Eastern Credit Limited, Inc. and A.S. Baltoil v. The Republic of Estonia (ICSID Case No. ARB/99/2)
United States of America
Shareholding in local financial institution.
Claims arising out of the cancellation by the Central Bank of Estonia of an operating license held by a financial institution incorporated in Estonia in which the claimants were shareholders.
Tertiary: K - Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Fortier, L. Y.
Heth, M.
van den Berg, A. J.
Decided in favour of State
1.60 mln USD
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Umbrella clause
None - all claims dismissed at the merits stage