Aven and others v. Costa Rica David R. Aven, Samuel D. Aven, Giacomo A. Buscemi and others v. Republic of Costa Rica (ICSID Case No. UNCT/15/3)
Costa Rica
United States of America
Shareholdings in several enterprises engaged in a construction project in Costa Rica known as Las Olas Project; ownership of 39 hectares of land in connection with this project.
Claims arising out of the Government's termination of claimants' hotel, beach club and villas construction project, following the revocation of an environmental viability permit after determining that the property included wetlands and a protected forest, and criminal investigations against one of the claimants.
Tertiary: L - Real estate activities
68 - Real estate activities
ICSID (International Centre for Settlement of Investment Disputes)
Siqueiros, E.
Baker, C. M.
Nikken, P.
Decided in favour of State
66.50 mln USD
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None - all claims dismissed at the merits stage