2012
Lao Holdings v. Laos (I) Lao Holdings N.V. v. Lao People’s Democratic Republic (I) (ICSID Case No. ARB(AF)/12/6)
Lao People's Democratic Republic
Netherlands
Contributions made in the form of loans extended to local companies; majority shareholding in two hotels and casinos: Savan Vegas and Paksong Vehas; ownership stakes in certain slot clubs; business know-how.
Claims arising out of multiplicity of the Government’s actions, including an 80% tax on casino revenues and allegedly unfair and oppressive audits of the claimant’s Savan Vegas Hotel and Casino. Subsequent to a settlement reached in this case in 2014, the claimant further alleged material breaches of the settlement agreement by the Government and infringement of the claimant’s gambling monopoly rights.
Tertiary: I - Accommodation and food service activities
Tertiary: R - Arts, entertainment and recreation
55 - Accommodation
92 - Gambling and betting activities
ICSID AF (ICSID Additional Facility)
ICSID (International Centre for Settlement of Investment Disputes)
Binnie, I.
Hanotiau, B.
Stern, B.
Decided in favour of State
1000.00 mln USD
Data not available
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause

National treatment

Most-favoured nation treatment

Transfer of funds

Indirect expropriation
None - all claims dismissed at the merits stage
Judicial review by national courts
Judicial review by national courts
Award/decision upheld
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB(AF)/12/6
http://www.iareporter.com/articles/20150319_1 (requires subscription)
http://www.iareporter.com/articles/20150106 (requires subscription)
http://globalarbitrationreview.com/news/article/33371/icsid-panel-weighs-bid-revive-laos-claim/ (requires subscription)
http://globalarbitrationreview.com/news/article/32745/laos-settles-treaty-claims-gaming-assets/ (requires subscription)
http://globalarbitrationreview.com/news/article/30758/treaty-claims-launched-against-laos/ (requires subscription)
http://www.iareporter.com/articles/20130403_4 (requires subscription)
http://www.iareporter.com/articles/arbitrators-reject-icsid-claimants-contention-that-government-of-laos-breached-earlier-settlement-of-bit-claims/ (requires subscription)
https://www.iareporter.com/articles/bit-arbitration-is-disinterred-after-arbitrators-find-material-breaches-by-government-of-earlier-settlement-including-commitment-to-desist-with-ongoing-criminal-investigations/ (requires subscription)
https://www.iareporter.com/articles/analysis-in-lao-holdings-v-laos-and-sanum-v-laos-awards-arbitrators-see-bad-faith-conduct-that-should-deprive-claimants-of-treaty-protection-but-claims-would-fall-short-anyway/ (requires subscription)
https://globalarbitrationreview.com/article/1196069/%E2%80%9Cbad-faith%E2%80%9D-investor-fails-in-treaty-claims-against-laos (requires subscription)
https://www.transnational-dispute-management.com/downloads/22458_Case_Report_Lao_Holdings_v_Laos_Award_2019.pdf