AIG v. Kazakhstan AIG Capital Partners, Inc. and CJSC Tema Real Estate Company v. Republic of Kazakhstan (ICSID Case No. ARB/01/6)
United States of America
Ownership and/or direct control of an investment vehicle company, a financing company and a joint venture established to invest in certain real estate project.
Claims arising out of the cancellation of a project for the development of a residential housing complex, and the subsequent transfer of the project's property to the City of Almaty without compensation, on the basis that the land concerned was required for a national arboretum.
Tertiary: L - Real estate activities
68 - Real estate activities
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Nariman, F. S.
Bernardini, P.
Vukmir, B.
Decided in favour of investor
13.50 mln USD
6.00 mln USD
Indirect expropriation

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
Indirect expropriation