Iberdrola v. Bolivia Iberdrola, S.A. and Iberdrola Energía, S.A.U. v. Plurinational State of Bolivia (PCA Case No. 2015-05)
Bolivia, Plurinational State of
Shareholding of 63.4 per cent in a Bolivian enterprise (Iberbolivia) which was the majority shareholder in four Bolivian electricity companies (Electropaz, ELFEO, CADEB and EDESER).
Claims arising out of Bolivia’s Supreme Decree No. 1448 of 2012, which ordered the nationalization of claimants’ (indirectly-held) shares in four electricity companies.
Tertiary: D - Electricity, gas, steam and air conditioning supply
35 - Electricity, gas, steam and air conditioning supply
PCA (Permanent Court of Arbitration)
Sepúlveda Amor, B.
García-Valdecasas, R.
Bottini, G.
Data not available
34.18 mln USD
Direct expropriation

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

Full protection and security, or similar

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability