The Lopez-Goyne Family Trust and others v. Nicaragua Bailey, David A. Barish, Walter John Bilger and others v. Republic of Nicaragua (ICSID Case No. ARB/17/44)
United States of America
Investments in excess of USD 70 million, in exploration activities relating to an oil concession granted to a Nicaraguan company Industria Oklahoma Nicaragua S.A, allegedly leading to significant oil discoveries, estimated to generate over USD 1 billion in revenue over the concession’s 30-year exploitation phase.
Claims arising out of the termination of a 3,400 square kilometre concession for hydrocarbon exploration and exploitation.
Primary: B - Mining and quarrying
9 - Mining support service activities
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Radicati di Brozolo, L.
Martínez de Hoz, J. A.
Stern, B.
Decided in favour of State
198.00 mln USD
Data not available
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Direct expropriation

Indirect expropriation
None - all claims dismissed at the merits stage
ICSID annulment proceedings
ICSID annulment proceedings
Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rules 53 and 44 dated 20 September 2023