2015
Manchester Securities v. Poland Manchester Securities Corporation v. Republic of Poland (PCA Case No. 2015-18)
Poland
United States of America
Loan to a Polish real estate developer for the construction of an apartment complex in Krakow, Poland.
Claims arising out of the Polish courts’ decision concerning an unfinished apartment complex in Krakow, allegedly resulting in the claimant’s inability to collect its debt from the developer of that complex.
Tertiary: L - Real estate activities
68 - Real estate activities
UNCITRAL
PCA (Permanent Court of Arbitration)
Rigo Sureda, A.
Brower, C. N.
Stern, B.
Decided in favour of investor
56.00 mln PLN (14.90 mln USD)
37.60 mln PLN (10.00 mln USD)
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Full protection and security, or similar

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
None