Italy

Italy

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2020 Encavis and others v. Italy Encavis AG, Fano Solar 1 S.r.l., DE Stern 10 S.r.l. and others v. Italian Republic (ICSID Case No. ARB/20/39) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic power plants.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in photovoltaic power plants. Pending Italy Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Fernández-Armesto, J. - President

Miles, W. J. - Claimant

Mourre, A. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
2 2020 Hamburg Commercial Bank v. Italy Hamburg Commercial Bank AG v. Italian Republic (ICSID Case No. ARB/20/3) The Energy Charter Treaty (1994) ICSID ICSID Investment: Loans for the construction of the “Vent 1” wind farm in the region of Calabria.

Summary: Claims arising out of the Government’s seizure of a wind farm constructed with EUR 230 million funding from the claimant and domestic court proceedings related to the wind farm project’s alleged connections to organized crime.
Loans for the construction of the “Vent 1” wind farm in the region of Calabria. Pending Italy Germany Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lévy, L. - President

Rees, P. - Claimant

Bottini, G. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
3 2018 Veolia Propreté v. Italy Veolia Propreté SAS v. Italian Republic (ICSID Case No. ARB/18/20) The Energy Charter Treaty (1994) ICSID ICSID Investment:

Summary:
Pending Italy France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Zuleta, E. - President

Gill, J. - Claimant

Boisson de Chazournes, L. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2017 Rockhopper v. Italy Rockhopper Exploration Plc, Rockhopper Italia S.p.A. and Rockhopper Mediterranean Ltd v. Italian Republic (ICSID Case No. ARB/17/14) The Energy Charter Treaty (1994) ICSID ICSID Investment: 100% working interest in the Ombrina Mare oil and gas discovery project and a related offshore exploration permit.

Summary: Claims arising out of the decision in February 2016 by the Ministry of Economic Development not to award the claimants a production concession covering the Ombrina Mare field located within 12 miles of the coast of Italy, following the Government’s re-introduction of a general ban on oil and gas exploration and production activity within the 12 mile limit of the coastline.
100% working interest in the Ombrina Mare oil and gas discovery project and a related offshore exploration permit. Pending Italy United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Poncet, C. - Claimant

Dupuy, P.-M. - Respondent

Reichert, K. - President
Data not available Data not available Data not available Pending Decision on the Intra-EU Jurisdictional Objection dated 26 June 2019 None None None None None None
5 2016 CIC Renewable and others v. Italy CIC Renewable Energies Italy GmbH, Enernovum Asset 1 GmbH & Co. KG, Enernovum GmbH & Co. KG and others v. Italian Republic (ICSID Case No. ARB/16/39) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic plants.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in photovoltaic plants. Pending Italy Germany

United Kingdom

Luxembourg
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Reichert, K. - President

Poncet, C. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
6 2016 ESPF and others v. Italy ESPF Beteiligungs GmbH, ESPF Nr. 2 Austria Beteiligungs GmbH, and InfraClass Energie 5 GmbH & Co. KG v. Italian Republic (ICSID Case No. ARB/16/5) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in renewable energy generation enterprise.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in renewable energy generation enterprise. Decided in favour of investor Italy Austria

Germany
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Álvarez, H. C. - President

Pryles, M. C. - Claimant

Boisson de Chazournes, L. - Respondent
28.60 mln EUR (33.90 mln USD) 16.00 mln EUR (19.00 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Award dated 14 September 2020 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None van Haersolte-Van Hof, J. J. - President

King, B. D. - Member

Onwuamaegbu, U. - Member
7 2016 SunReserve v. Italy SunReserve Luxco Holdings v. Italy (SCC Case No. 2016/32) The Energy Charter Treaty (1994) SCC SCC Investment: Ownership of nine photovoltaic plants in Italy.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Ownership of nine photovoltaic plants in Italy. Decided in favour of State Italy Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply van den Berg, A. J. - President

Sachs, K. - Claimant

Giardina, A. - Respondent
40.90 mln EUR (44.20 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause
None - all claims dismissed at the merits stage Final Award dated 25 March 2020 None None None None None None
8 2015 Belenergia v. Italy Belenergia S.A. v. Italian Republic (ICSID Case No. ARB/15/40) The Energy Charter Treaty (1994) ICSID ICSID Investment: Participating interest in 10 Italian special purpose vehicles which developed and operated 20 photovoltaic plants in Southern Italy.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Participating interest in 10 Italian special purpose vehicles which developed and operated 20 photovoltaic plants in Southern Italy. Decided in favour of State Italy Luxembourg Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Hanotiau, B. - Claimant

Derains, Y. - President

Fernández Rozas, J. C. - Respondent
Data not available Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures

Full protection and security, or similar

National treatment
None - all claims dismissed at the merits stage Award dated 6 August 2019 None None None None None None
9 2015 CEF Energia v. Italy CEF Energia BV v. Italian Republic (SCC Case No. 158/2015) The Energy Charter Treaty (1994) SCC SCC Investment: Investments in three photovoltaic plants (Enersol, Megasol and Phenix) through direct and indirect shareholdings in related local companies.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Investments in three photovoltaic plants (Enersol, Megasol and Phenix) through direct and indirect shareholdings in related local companies. Decided in favour of investor Italy Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Reichert, K. - President

Sachs, K. - Claimant

Sacerdoti, G. - Respondent
10.30 mln EUR (11.80 mln USD) 9.60 mln EUR (11.00 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 16 January 2019 None Judicial review by national courts Pending (Judicial review by national courts) None None None
10 2015 Eskosol v. Italy Eskosol S.p.A. in liquidazione v. Italian Republic (ICSID Case No. ARB/15/50) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a 120 megawatt photovoltaic energy project in Italy.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects. According to the claimant, two State measures adopted in March and May 2011 (the Romani Decree and the Fourth Energy Account) rendered its photovoltaic project unviable and led to the company’s bankruptcy.
Investments in a 120 megawatt photovoltaic energy project in Italy. Decided in favour of State Italy Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tawil, G. S. - Claimant

Dupuy, P.-M. - Respondent (replaced)

Stern, B. - Respondent

Kalicki, J. E. - President
Data not available Data not available 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

Umbrella clause

Indirect expropriation
None - all claims dismissed at the merits stage Decision on Respondent’s Application under Rule 41(5) dated 20 March 2017

Decision on Termination Request and Intra-EU Objection dated 7 May 2019

Award dated 4 September 2020
None None None None None None
11 2015 Greentech and NovEnergia v. Italy Greentech Energy Systems A/S, NovEnergia II Energy & Environment (SCA) SICAR, and NovEnergia II Italian Portfolio SA v. Italian Republic (SCC Case No. 2015/095) The Energy Charter Treaty (1994) SCC SCC Investment: Ownership of 134 solar plants located in Italy.

Summary: Claims arising out of a series of governmental decrees to prematurely cut tariff incentives for photovoltaic plants originally offered for 20-year period, as well as modifications to the taxation regime and minimum guaranteed price scheme, cancellation of inflation adjustment and imposition of new fees.
Ownership of 134 solar plants located in Italy. Decided in favour of investor Italy Denmark

Luxembourg
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Park, W. W. - President

Haigh, D. - Claimant

Sacerdoti, G. - Respondent
11.90 mln EUR (13.50 mln USD) 11.90 mln EUR (13.50 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

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

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause
Final Award dated 23 December 2018 Dissenting Opinion of Giorgio Sacerdoti Judicial review by national courts Pending (Judicial review by national courts) None None None
12 2015 Silver Ridge v. Italy Silver Ridge Power BV v. Italian Republic (ICSID Case No. ARB/15/37) The Energy Charter Treaty (1994) ICSID ICSID Investment: Ownership of 25 solar power plants in Italy with a combined capacity of over 130 megawatts.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects.
Ownership of 25 solar power plants in Italy with a combined capacity of over 130 megawatts. Decided in favour of State Italy Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Simma, B. - President

Johnson, O. T. - Claimant

Cremades, B. M. - Respondent
Data not available Data not available Indirect expropriation

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

Umbrella clause
None - all claims dismissed at the merits stage Award dated 26 February 2021 Dissenting Opinion of O. Thomas Johnson None None None None None
13 2014 Blusun v. Italy Blusun S.A., Jean-Pierre Lecorcier and Michael Stein v. Italian Republic (ICSID Case No. ARB/14/3) The Energy Charter Treaty (1994) ICSID ICSID Investment: Interests in a photovoltaic energy generation project in Italy.

Summary: Claims arising out of Italy's modification to its solar power regime which reduced the level of feed-in-tariffs available in future, allegedly affecting claimants' investment in a photovoltaic energy generation project in that country.
Interests in a photovoltaic energy generation project in Italy. Decided in favour of State Italy Belgium

France

Germany
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Crawford, J. R. - President

Alexandrov, S. A. - Claimant

Dupuy, P.-M. - Respondent
187.80 mln EUR (196.30 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation

Other
None - all claims dismissed at the merits stage Award dated 27 December 2016 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 13 April 2020 (ICSID annulment proceedings) None Khan, M. A. - Member

Shin, H.-T. - Member

Ramírez Hernández, R. - President

McRae, D. M. - President (replaced)
NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2021 Enel v. Turkey Enel, S.p.A. v. Republic of Turkey (ICSID Case No. ARB/21/61) Italy - Turkey BIT (1995) ICSID ICSID Investment:

Summary:
Pending Türkiye Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
2 2021 HeidelbergCement and others v. Egypt HeidelbergCement AG, HeidelbergCement France S.A.S., Italcementi S.P.A., Ciments Français S.A.S. v. Arab Republic of Egypt (ICSID Case No. ARB/21/50) Egypt - Germany BIT (2005)

Egypt - France BIT (1974)

Egypt - Italy BIT (1989)
ICSID ICSID Investment:

Summary:
Pending Egypt Germany

France

Italy
Secondary: C - Manufacturing 23 - Manufacture of other non-metallic mineral products Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
3 2021 Linares Sanoja and others v. Peru Raúl Francisco Javier Linares Sanoja, Aram Asset Management, N.V. and Intresor S.A.C. v. Republic of Peru Italy - Peru BIT (1994) UNCITRAL Data not available Investment:

Summary:
Pending Peru Italy Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 46 - Wholesale trade, except of motor vehicles and motorcycles Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
4 2020 Campos de Pesé v. Panama Campos de Pesé, S.A. v. Republic of Panama (ICSID Case No. ARB/20/19) Italy - Panama BIT (2009) ICSID ICSID Investment: Investments in bioethanol production, land and facilities.

Summary: Claims arising out of regulatory changes adopted by the Government that allegedly caused the claimant’s bioethanol business to cease operations, as well as environmental pollution charges brought against the claimant and the imposition of penalties.
Investments in bioethanol production, land and facilities. Pending Panama Italy Secondary: C - Manufacturing 20 - Manufacture of chemicals and chemical products Zuleta, E. - President

Grigera Naón, H. A. - Claimant

Stern, B. - Respondent
100.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Pending Data not available Data not available None None None None None
5 2020 Fin.Doc and others v. Romania Fin.Doc S.r.l., Domenica Gazineo, En.Doc S.r.l. and others v. Romania (ICSID Case No. ARB/20/35) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in photovoltaic power plants in Romania.

Summary: Claims arising out of certain changes to Romania’s incentive scheme for investments in the renewable energy sector.
Investments in photovoltaic power plants in Romania. Pending Romania Cyprus

Czechia

Germany

Greece

Italy

Luxembourg

Türkiye
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Spigelman, J. - Claimant

McRae, D. M. - Respondent

Reed, L. - President
Data not available Data not available Data not available Pending None None None None None None None
6 2020 Gesenu v. Egypt Gesenu S.p.A. v. Arab Republic of Egypt (ICSID Case No. ARB/20/45) Egypt - Italy BIT (1989) ICSID ICSID Investment:

Summary:
Pending Egypt Italy Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Malinvaud, C. - President

Spigelman, J. - Claimant

Simma, B. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
7 2020 Webuild v. Panama Webuild S.p.A. (formerly Salini Impregilo S.p.A.) v. Republic of Panama (ICSID Case No. ARB/20/10) Italy - Panama BIT (2009) ICSID ICSID Investment: Shareholding in Grupo Unidos por el Canal (GUPC), the consortium in charge of the design and construction of the third set of locks within the Panama Canal expansion project.

Summary: Claims arising out of the Panama Canal Authority’s (ACP) alleged breaches of the contract signed with the GUPC consortium for the construction of the third set of locks of the Panama Canal, including ACP’s alleged failure to co-finance extra costs incurred by the consortium.
Shareholding in Grupo Unidos por el Canal (GUPC), the consortium in charge of the design and construction of the third set of locks within the Panama Canal expansion project. Pending Panama Italy Tertiary: F - Construction 42 - Civil engineering Reed, L. - President

Alexandrov, S. A. - Claimant

Ruiz Fabri, H. - Respondent
2200.00 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Pending Data not available Data not available None None None None None
8 2019 Impresa Pizzarotti v. Morocco Impresa Pizzarotti & C. S.p.A. v. Kingdom of Morocco (ICSID Case No. ARB/19/14) Italy - Morocco BIT (1990) ICSID ICSID Investment: Investments in the construction of a road tunnel in Rabat as part of a joint venture (Pizzarotti & Alpi De Co).

Summary: Claims arising out of a Government agency’s alleged failure to pay the claimant the full amounts for the completed construction of the Oudayas tunnel in 2011 and to compensate the claimant for undue penalties imposed for construction delays. According to the claimant, the project time and costs increased due to the agency’s misrepresentation of the project during the international tender process.
Investments in the construction of a road tunnel in Rabat as part of a joint venture (Pizzarotti & Alpi De Co). Settled Morocco Italy Tertiary: F - Construction 42 - Civil engineering Rosell, J. - President

Brower, C. N. - Claimant

Heiskanen, V. - Respondent
50.00 mln EUR (55.80 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 17 May 2021 None None None None None None
9 2018 Sunlodges v. Tanzania Sunlodges Ltd (BVI) and Sunlodges (T) Limited v. The United Republic of Tanzania (PCA Case No. 2018-09) Italy - United Republic of Tanzania BIT (2001) UNCITRAL PCA Investment: Ownership of the Mikindani (or Kabisela) estate used for cattle farming activities.

Summary: Claims arising out of the Government's alleged seizure of the claimants’ cattle farming land in order to build a cement works and a power station.
Ownership of the Mikindani (or Kabisela) estate used for cattle farming activities. Decided in favour of investor Tanzania, United Republic of Italy Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Heiskanen, V. - President

Williams, D. A. R. - Claimant

Onwuamaegbu, U. - Respondent
34.70 mln USD 11.30 mln USD Direct expropriation

Indirect expropriation

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

Full protection and security, or similar

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Indirect expropriation Award dated 20 December 2019 None None None None None None
10 2018 Valeria Italia v. Albania Valeria Italia Srl v. Albania Albania - Italy BIT (1991) UNCITRAL Data not available Investment:

Summary:
Pending Albania Italy Primary: A - Agriculture, forestry and fishing 1 - Crop and animal production, hunting and related service activities Mayer, P. - President

Benedettelli, M. - Claimant

Griffith, G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
11 2017 CMC v. Mozambique CMC Africa Austral, LDA, CMC Muratori Cementisti CMC Di Ravenna SOC. Coop., and CMC MuratoriCementisti CMC Di Ravenna SOC. Coop. A.R.L. Maputo Branch and CMC Africa v. Republic of Mozambique (ICSID Case No. ARB/17/23) Italy - Mozambique BIT (1998) ICSID ICSID Investment: Participation in a project to reconstruct a portion of the principal north-south highway in Mozambique under a contract with the national roads administration.

Summary: Claims arising out of the alleged failure of the national roads administration and the Government to pay settlement amounts offered to the claimants for additional work related to the reconstruction of a highway, which was carried out by claimants under a contract with the national roads administration.
Participation in a project to reconstruct a portion of the principal north-south highway in Mozambique under a contract with the national roads administration. Decided in favour of State Mozambique Italy Tertiary: F - Construction 42 - Civil engineering Townsend, J. M. - President

Rees, P. - Claimant

Casey, J. B. - Respondent
11.80 mln EUR (13.10 mln USD) Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated 24 October 2019 None None None None None None
12 2017 Consutel v. Algeria Consutel Group S.p.A. in liquidazione v. People's Democratic Republic of Algeria (PCA No. 2017-33) Algeria - Italy BIT (1991) UNCITRAL PCA Investment: Majority shareholding of 98,4% in Spec-Com Algérie (“Spec-Com“), a local telecommunications company.

Summary: Claims arising out of the alleged actions and omissions of state-owned Algérie Télécom related to a partnership agreement concluded with the claimant’s local subsidiary, Spec-Com, for a fiber-optic telecommunications project.
Majority shareholding of 98,4% in Spec-Com Algérie (“Spec-Com“), a local telecommunications company. Decided in favour of State Algeria Italy Tertiary: J - Information and communication 61 - Telecommunications Mourre, A. - President

Tanzi, A. M. - Claimant

Haroun, M. A. - Respondent (replaced)

Mahiou, A. - Respondent
Data not available 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 Final Award dated 3 February 2020 None None None None None None
13 2017 OHL and others v. Kuwait Obrascón Huarte Lain S.A., Rizzani de Eccher S.p.A. and Trevi S.p.A. v. State of Kuwait (ICSID Case No. ARB/17/8) Italy - Kuwait BIT (1987)

Kuwait - Spain BIT (2005)
ICSID ICSID Investment: Investment in a highway construction project.

Summary:
Investment in a highway construction project. Pending Kuwait Spain

Italy
Tertiary: F - Construction 42 - Civil engineering Alexandrov, S. A. - Claimant

Douglas, Z. - Respondent

Bull, C. - President
Data not available Data not available Data not available Pending None None None None None None None
14 2015 Eskosol v. Italy Eskosol S.p.A. in liquidazione v. Italian Republic (ICSID Case No. ARB/15/50) The Energy Charter Treaty (1994) ICSID ICSID Investment: Investments in a 120 megawatt photovoltaic energy project in Italy.

Summary: Claims arising out of a series of governmental decrees to cut tariff incentives for some solar power projects. According to the claimant, two State measures adopted in March and May 2011 (the Romani Decree and the Fourth Energy Account) rendered its photovoltaic project unviable and led to the company’s bankruptcy.
Investments in a 120 megawatt photovoltaic energy project in Italy. Decided in favour of State Italy Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tawil, G. S. - Claimant

Dupuy, P.-M. - Respondent (replaced)

Stern, B. - Respondent

Kalicki, J. E. - President
Data not available Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Decision on Respondent’s Application under Rule 41(5) dated 20 March 2017

Decision on Termination Request and Intra-EU Objection dated 7 May 2019

Award dated 4 September 2020
None None None None None None
15 2015 Fin.Co.Ge.Ro v. Romania Fin.Co.Ge.Ro Spa v. Romania Italy - Romania BIT (1990) UNCITRAL Data not available Investment: Concession contracts with local authorities to develop real estate projects in Constanța and Brăila, and an international airport in Galați.

Summary: Claims arising out of local authorities’ alleged failure to fulfill obligations arising out of concession contracts signed with the claimant for real estate development projects, preventing their effective implementation.
Concession contracts with local authorities to develop real estate projects in Constanța and Brăila, and an international airport in Galați. Decided in favour of State Romania Italy Tertiary: F - Construction 41 - Construction of buildings Data not available 327.00 mln EUR (362.60 mln USD) Data not available Data not available None - all claims dismissed at the merits stage Award dated 2019 None None None None None None
16 2015 Foresight and others v. Spain Foresight Luxembourg Solar 1 S.Á.R.L., Foresight Luxembourg Solar 2 S.Á.R.L., Greentech Energy System A/S, GWM Renewable Energy I S.P.A and GWM Renewable Energy II S.P.A v. Kingdom of Spain (SCC Case No. 2015/150) The Energy Charter Treaty (1994) SCC SCC Investment: Investments in three solar photovoltaic facilities (the Madridejos, La Castilleja and Fotocampillos plants).

Summary: Claims arising out of a series of energy reforms undertaken by the Government affecting the renewables sector, including a 7 per cent tax on power generators’ revenues and a reduction in subsidies for renewable energy producers.
Investments in three solar photovoltaic facilities (the Madridejos, La Castilleja and Fotocampillos plants). Decided in favour of investor Spain Luxembourg

Denmark

Italy
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Moser, M. J. - President

Sachs, K. - Claimant

Vinuesa, R. E. - Respondent
58.20 mln EUR (65.50 mln USD) 39.00 mln EUR (43.90 mln USD) Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 14 November 2018 Partial Dissenting Opinion by Raúl E. Vinuesa Judicial review by national courts Pending (Judicial review by national courts) None None None
17 2015 Hydro and others v. Albania Hydro S.r.l. and others v. Republic of Albania (ICSID Case No. ARB/15/28) Albania - Italy BIT (1991) ICSID ICSID Investment: Investments in a hydroelectric plant in Kalivaç in southern Albania, a waste management facility, and the TV station Agonset.

Summary: Claims arising out of the Government’s alleged actions to undermine the claimants’ investments, including tax audit proceedings, money laundering investigations, seizure and sequestration of bank accounts and assets, and arrest warrants against individual claimants.
Investments in a hydroelectric plant in Kalivaç in southern Albania, a waste management facility, and the TV station Agonset. Decided in favour of investor Albania Italy Tertiary: D - Electricity, gas, steam and air conditioning supply

Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: J - Information and communication
35 - Electricity, gas, steam and air conditioning supply

36 - Water collection, treatment and supply

60 - Programming and broadcasting activities
Pryles, M. C. - President

Poncet, C. - Claimant

Glick, I. - Respondent
650.00 mln EUR (728.40 mln USD) 110.00 mln EUR (123.60 mln USD) Direct expropriation Direct expropriation Award dated 24 April 2019 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision on Annulment dated 2 April 2021 (ICSID annulment proceedings) None Low, L. A. - President

van Haersolte-Van Hof, J. J. - Member

Ó Hoisín, C. - Member
18 2015 Webuild (formerly Salini Impregilo) v. Argentina Webuild S.p.A. (formerly Salini Impregilo S.p.A.) v. Argentine Republic (ICSID Case No. ARB/15/39) Argentina - Italy BIT (1990) ICSID ICSID Investment: 26% interest in a local company, Puentes del Litoral S.A., that held a 25-year concession contract for the construction, operation and maintenance of a bridge and toll road in Argentina.

Summary: Claims arising out of the Government’s alleged failure to pay state subsidies provided for under a highway construction concession, the enactment of emergency legislation that affected the project’s toll revenue and economic viability as well as delays in completing the renegotiation of the concession contract as mandated by the legislation. According to the claimant, the alleged measures ultimately resulted in the bankruptcy of the local concessionaire, the termination of the concession contract by the Government and its reassignment to a third party.
26% interest in a local company, Puentes del Litoral S.A., that held a 25-year concession contract for the construction, operation and maintenance of a bridge and toll road in Argentina. Pending Argentina Italy Tertiary: F - Construction 42 - Civil engineering Hobér, K. - Claimant

Crawford, J. R. - President (replaced)

Kurtz, J. - Respondent

Low, L. A. - President
Data not available Data not available Indirect expropriation

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

Most-favoured nation treatment
Pending Decision on Jurisdiction and Admissibility dated 23 February 2018 None None None None None None
19 2014 Albaniabeg Ambient v. Albania Albaniabeg Ambient Sh.p.k, M. Angelo Novelli and Costruzioni S.r.l. v. Republic of Albania (ICSID Case No. ARB/14/26) The Energy Charter Treaty (1994) ICSID ICSID Investment: Data not available

Summary: Claims arising out of a waste management and renewable energy production project in Albania.
Data not available Data not available Albania Italy Tertiary: D - Electricity, gas, steam and air conditioning supply

Tertiary: E - Water supply; sewerage, waste management and remediation activities
35 - Electricity, gas, steam and air conditioning supply

38 - Waste collection, treatment and disposal activities; materials recovery
Caron, D. D. - President (replaced)

Townsend, J. M. - Claimant

Hoffmann, L. - Respondent

Aikens, R. - President
Data not available Data not available Data not available Data not available Award dated 20 March 2020 None ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Jones, D. - President

Jiménez Figueres, D. - Member

Sidklev, J. - Member
20 2013 ASA v. Egypt ASA International S.p.A. v. Arab Republic of Egypt (ICSID Case No. ARB/13/23) Egypt - Italy BIT (1989) ICSID ICSID Investment: Majority shareholding (85 per cent) in Ama Arab Environment Company that held two solid waste management contracts in Cairo.

Summary: Claims arising out of alleged Government measures that affected claimant's investment in a company that had concluded contracts for waste management services in Cairo.
Majority shareholding (85 per cent) in Ama Arab Environment Company that held two solid waste management contracts in Cairo. Settled Egypt Italy Tertiary: E - Water supply; sewerage, waste management and remediation activities 38 - Waste collection, treatment and disposal activities; materials recovery Oreamuno Blanco, R. - President

van den Berg, A. J. - Claimant

Hossain, K. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
21 2013 Grassetto v. Slovenia Impresa Grassetto S.p.A., in liquidation v. Republic of Slovenia (ICSID Case No. ARB/13/10) Italy - Slovenia BIT (2000) ICSID ICSID Investment: Rights under a contract for the construction of the Trojane highway tunnel project.

Summary: Claims arising out of disagreements over the execution of a construction contract awarded to the claimant concerning a highway tunnel project.
Rights under a contract for the construction of the Trojane highway tunnel project. Discontinued Slovenia Italy Tertiary: F - Construction 42 - Civil engineering Park, W. W. - President

Tschanz, P.-Y. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Decision on Objections to Jurisdiction dated 15 June 2015

Order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 29 January 2020
None None None None None None
22 2012 Gavazzi v. Romania Marco Gavazzi and Stefano Gavazzi v. Romania (ICSID Case No. ARB/12/25) Italy - Romania BIT (1990) ICSID ICSID Investment: Majority shareholding in a local steel manufacturing enterprise under a privatisation agreement concluded with the Government.

Summary: Claims arising out of a series of measures by the respondent allegedly in breach of its obligations under certain privatisation agreement concerning a steel plant in which the claimants had invested, leading to its liquidation.
Majority shareholding in a local steel manufacturing enterprise under a privatisation agreement concluded with the Government. Decided in favour of investor Romania Italy Secondary: C - Manufacturing 24 - Manufacture of basic metals van Houtte, H. - President

Veeder, V. V. - Claimant

Rubino-Sammartano, M. - Respondent
30.00 mln USD Data not available Indirect expropriation

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

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Decision on Jurisdiction, Admissibility and Liability dated 21 April 2015

Award dated 18 April 2017

Decision on Rectification dated 13 July 2017
Dissenting Opinion by Mauro Rubino-Sammartano

Dissenting Opinion with Regard to Quantum by Mauro Rubino-Sammartano

Dissenting Opinion on Rectification by Mauro Rubino-Sammartano
None None None None None
23 2011 Burimi v. Albania Burimi SRL and Eagle Games SH.A v. Republic of Albania (ICSID Case No. ARB/11/18) Albania - Italy BIT (1991) ICSID ICSID Investment: Indirect shareholding in an Albanian gambling company under certain financing and pledge agreements.

Summary: Claims arising out of Albania's adoption of a law that introduced a single license for the exploitation of the National Lottery and revoked all existing permits and licenses for instant lotteries, including Eagle Games’ permit to sale “scratch and win” instant lottery tickets.
Indirect shareholding in an Albanian gambling company under certain financing and pledge agreements. Decided in favour of State Albania Italy Tertiary: R - Arts, entertainment and recreation 92 - Gambling and betting activities Price, D. M. - President

Cremades, B. M. - Claimant

Fadlallah, I. - Unknown
1034.70 mln ALL (9.30 mln USD) Data not available Indirect expropriation

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

Customary rules of international law
None - jurisdiction declined Award dated 29 May 2013 None None None None None None
24 2010 Bosca v. Lithuania Luigiterzo Bosca v. Republic of Lithuania (PCA Case No. 2011-05) Italy - Lithuania BIT (1994) UNCITRAL PCA Investment: Know-how by way of providing services to wine producing company in Lithuania; "making of contract" rights as winner of a public tender for the acquisition of a sparkling wines manufacturing company.

Summary: Claims arising out of the Government's annulment of claimant's successful bid for the company AB Alita, a Lithuanian alcoholic beverage producer.
Know-how by way of providing services to wine producing company in Lithuania; "making of contract" rights as winner of a public tender for the acquisition of a sparkling wines manufacturing company. Decided in favour of neither party (liability found but no damages awarded) Lithuania Italy Secondary: C - Manufacturing 11 - Manufacture of beverages Lalonde, M. - President

Price, D. M. - Claimant

Stern, B. - Respondent
207.00 mln EUR (279.20 mln USD) 0.00 mln USD Direct expropriation

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

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 17 May 2013 None None None None None None
25 2009 Cesare Galdabini v. Russia Cesare Galdabini SpA v. Russian Federation Italy - Russian Federation BIT (1996) UNCITRAL None Investment: Accounts receivable under certain supply agreement concluded between Galdabani and the respondent.

Summary: Claims arising out of Russia's alleged refusal to settle a debt owed for EUR 278’000 worth of equipment, which Galdabini supplied during the 1980s to a Soviet foreign trading enterprise for the ultimate benefit of VAZ, a private company.
Accounts receivable under certain supply agreement concluded between Galdabani and the respondent. Decided in favour of State Russian Federation Italy Secondary: C - Manufacturing 29 - Manufacture of motor vehicles, trailers and semi-trailers Kaufmann-Kohler, G. - President

Hertzfeld, J. M. - Claimant

Vilkova, N. - Respondent
392.00 mln EUR (580.00 mln USD) Data not available Data not available None - jurisdiction declined Award dated May 2011 None None None None None None
26 2009 Valle Esina v. Russia Valle Esina S.p.A. v. The Russian Federation Italy - Russian Federation BIT (1996) UNCITRAL Data not available Investment:

Summary:
Decided in favour of investor Russian Federation Italy Data not available Data not available Kaufmann-Kohler, G. - President

Bernardini, P. - Claimant

Zykin, I. S. - Respondent
Data not available 9.90 mln EUR (11.30 mln USD) Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Direct expropriation Award dated June 2014 None None None None None None
27 2008 Ambiente Ufficio and others v. Argentina Ambiente Ufficio S.p.A. and others (formerly Giordano Alpi and others) v. Argentine Republic (ICSID Case No. ARB/08/9) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 90 claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 90 claimants. Discontinued Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Simma, B. - President

Böckstiegel, K.-H. - Claimant

Torres Bernárdez, S. - Respondent
6.80 mln EUR (10.70 mln USD) Data not available Indirect expropriation

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

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 8 February 2013

Order of discontinuance of the proceeding dated 28 May 2015
Dissenting Opinion of Santiago Torres Bernárdez (Decision on Jurisdiction and Admissibility)

Individual Statement
None None None None None
28 2008 Impregilo v. Argentina (II) Impregilo S.p.a v. Argentine Republic (II) (ICSID Case No. ARB/08/14) Argentina - Italy BIT (1990) ICSID ICSID Investment: Rights under a highway construction concession agreement held by Impregilo's local subsidiary Camino de las Sierras.

Summary: Claims arising out of Argentina's enactment of a 'pesification' law, the freeze on toll rates, among other measures adopted during its 2001-2002 economic crisis, allegedly affecting claimant's investment in a highway construction project to build and manage roads to the city of Córdoba.
Rights under a highway construction concession agreement held by Impregilo's local subsidiary Camino de las Sierras. Settled Argentina Italy Tertiary: F - Construction 42 - Civil engineering Danelius, H. - President

Brower, C. N. - Claimant

Hossain, K. - Respondent
250.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Order for the discontinuance of the proceeding issued by the Tribunal dated 27 October 2010, pursuant to ICSID Arbitration Rule 43(1) None None None None None None
29 2007 Abaclat and others v. Argentina Abaclat and others (formerly Giovanna A. Beccara and others) v. Argentine Republic (ICSID Case No. ARB/07/5) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 60,000 claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 60,000 claimants. Settled Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Tercier, P. - President

Briner, R. - President (replaced)

van den Berg, A. J. - Claimant

Torres Bernárdez, S. - Respondent

Abi-Saab, G. - Respondent (replaced)
3000.00 mln USD 1350.00 mln USD Indirect expropriation

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

Umbrella clause

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 4 August 2011

Consent Award under ICSID Arbitration Rule 43(2) dated 29 December 2016

Settlement agreement dated 21 April 2016
Dissenting Opinion of Professor Georges Abi-Saab (Decision on Jurisdiction and Admissibility)

Declaration appended to the Award by Santiago Torres Bernárdez

Additional Declaration by Pierre Tercier and Albert Jan van den Berg

Additional Declaration by Santiago Torres Bernárdez
None None None None None
30 2007 Alemanni and others v. Argentina Giovanni Alemanni and others v. Argentine Republic (ICSID Case No. ARB/07/8) Argentina - Italy BIT (1990) ICSID ICSID Investment: Ownership of sovereign bonds issued by Argentina held by over 180 initial claimants.

Summary: Claims arising out of Argentina's enactment of legislation concerning the restructuring of its public debt, leading to the Government's default in sovereign bonds in late 2001, and circumstances surrounding its 2005 settlement with foreign holders of its defaulted bonds.
Ownership of sovereign bonds issued by Argentina held by over 180 initial claimants. Discontinued Argentina Italy Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Berman, F. - President

Böckstiegel, K.-H. - Claimant

Thomas, J. C. - Respondent
14.00 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction and Admissibility dated 17 November 2014

Order of the Tribunal Discontinuing the Proceeding dated 14 December 2015
Concurring Opinion of Mr. J. Christopher Thomas, QC (Decision on Jurisdiction and Admissibility) None None None None None
31 2007 Foresti v. South Africa Piero Foresti, Laura de Carli and others v. Republic of South Africa (ICSID Case No. ARB(AF)/07/1) BLEU (Belgium-Luxembourg Economic Union) - South Africa BIT (1998)

Italy - South Africa BIT (1997)
ICSID AF ICSID Investment: Common law mineral rights leased or owned by certain operating companies in which the claimants had interests.

Summary: Claims arising out of the alleged extinction of certain old order mineral rights held by the claimants by the entry into force of the Mineral and Petroleum Resources Development Act, and the introduction of compulsory equity divestiture requirements with respect to the investors' shares in certain operating companies.
Common law mineral rights leased or owned by certain operating companies in which the claimants had interests. Discontinued South Africa Italy

Luxembourg
Primary: B - Mining and quarrying 8 - Other mining and quarrying Lowe, V. - President

Brower, C. N. - Claimant

Matthews, J. M. - Respondent
375.00 mln USD Data not available Direct expropriation

Indirect expropriation

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

National treatment

Other
Not applicable - settled or discontinued before decision on liability Award dated 4 August 2010 Concurring Statement of Arbitrator Matthews (Award) None None None None None
32 2007 Impregilo v. Argentina (I) Impregilo S.p.A. v. Argentine Republic (I) (ICSID Case No. ARB/07/17) Argentina - Italy BIT (1990) ICSID ICSID Investment: Controlling interest in an Argentinean company that had a concession agreement for water distribution and sewerage treatment services.

Summary: Claims arising out of Argentina's alleged interference with the tariff regime applicable to claimant's investment and other alleged breaches of obligations under the relevant concession agreement through the enactment of emergency measures during its 2001-2002 economic crisis.
Controlling interest in an Argentinean company that had a concession agreement for water distribution and sewerage treatment services. Decided in favour of investor Argentina Italy Tertiary: E - Water supply; sewerage, waste management and remediation activities

Tertiary: E - Water supply; sewerage, waste management and remediation activities
36 - Water collection, treatment and supply

37 - Sewerage
Danelius, H. - President

Brower, C. N. - Claimant

Stern, B. - Respondent
119.00 mln USD 21.29 mln USD Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 21 June 2011 Concurring and Dissenting Opinion of Professor Brigitte Stern (Award)

Concurring and Dissenting Opinion of Judge Charles N. Brower (Award)
ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the ad hoc Committee on the Application for Annulment dated 24 January 2014 (ICSID annulment proceedings) None Oreamuno Blanco, R. - President

Zuleta, E. - Member

Cheng, T. - Member
33 2007 Toto v. Lebanon Toto Costruzioni Generali S.p.A. v. Republic of Lebanon (ICSID Case No. ARB/07/12) Italy - Lebanon BIT (1997) ICSID ICSID Investment: Rights under a contract concluded between Lebanon's Conseil Exécutif des Grands Projets and claimant for constructing a section of a highway linking Beirut to Damascus.

Summary: Claims arising out of alleged interferences by the Lebanese Government that caused material damage to the construction project of a highway in which the claimant had invested, followed by its refusal to adopt adequate corrective measures; for instance, changing the regulatory framework, failing to deliver sites, failing to protect Toto's legal possession, and giving erroneous design information and instructions.
Rights under a contract concluded between Lebanon's Conseil Exécutif des Grands Projets and claimant for constructing a section of a highway linking Beirut to Damascus. Decided in favour of State Lebanon Italy Tertiary: F - Construction 42 - Civil engineering van Houtte, H. - President

Schwebel, S. M. - Claimant

Feliciani, A. - Claimant (replaced)

Moghaizel, F. - Respondent
33.00 mln USD Data not available Indirect expropriation

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

Full protection and security, or similar

Umbrella clause

Other
None - all claims dismissed at the merits stage Award dated 7 June 2012

Decision on Jurisdiction dated 11 September 2009
Concurring Opinion of Judge Schwebel (Award) ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the proceeding issued by the ad hoc Committee dated 15 February 2013, pursuant to ICSID Arbitration Rules 53 and 44 (ICSID annulment proceedings) None Gaillard, E. - President

Pryles, M. C. - Member

Rigo Sureda, A. - Member
34 2005 Ares and MetalGeo v. Georgia Ares International S.r.l. and MetalGeo S.r.l. v. Georgia (ICSID Case No. ARB/05/23) Georgia - Italy BIT (1997) ICSID ICSID Investment: Majority shareholding in a State-owned steel plant through a share purchase agreement approved by certain city court and endorsed by the Government of Georgia through a Presidential Decree.

Summary: Claims arising out of the declaration of invalidity by Georgian authorities of certain share purchase agreement concerning claimants' investments in a State-owned metallurgical plant, after allegedly receiving encouragement from the Georgian Government to become involved in the plant's rehabilitation process.
Majority shareholding in a State-owned steel plant through a share purchase agreement approved by certain city court and endorsed by the Government of Georgia through a Presidential Decree. Decided in favour of investor Georgia Italy Secondary: C - Manufacturing 24 - Manufacture of basic metals Rowley, J. W. - President

Gaillard, E. - Claimant

Beechey, J. - Respondent
113.00 mln USD 3.50 mln USD Indirect expropriation

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

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 28 February 2008 None None None None None None
35 2005 LESI v. Algeria LESI, S.p.A. and Astaldi, S.p.A. v. People's Democratic Republic of Algeria (ICSID Case No. ARB/05/3) Algeria - Italy BIT (1991) ICSID ICSID Investment: Rights under a contract for the construction of a dam.

Summary: Claims arising out of Algeria's civil unrest and violence during the mid-1990s, which affected a public tender awarded to the claimant for the construction of a dam which would provide drinking water to the city of Algiers.
Rights under a contract for the construction of a dam. Decided in favour of State Algeria Italy Tertiary: F - Construction 42 - Civil engineering Tercier, P. - President

Hanotiau, B. - Claimant

Gaillard, E. - Respondent
Data not available Data not available Indirect expropriation

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

Full protection and security, or similar
None - all claims dismissed at the merits stage Decision on Jurisdiction dated 12 July 2006

Award dated 12 November 2008
None None None None None None
36 2005 Saipem v. Bangladesh Saipem S.p.A. v. People's Republic of Bangladesh (ICSID Case No. ARB/05/7) Bangladesh - Italy BIT (1990) ICSID ICSID Investment: Right to arbitrate (i.e. a right accruing by contract having an economic value) under a contract concluded between the claimant and a State-owned entity for a gas pipeline construction project.

Summary: Claims arising out of the actions of the State-owned entity Petrobangla and of the courts of Bangladesh allegedly aimed at sabotaging an ICC commercial arbitration proceeding and the subsequent non-enforcement of the award concerning the breach of a contract concluded between the claimant and said State-owned entity for the construction of a long-distance gas pipeline.
Right to arbitrate (i.e. a right accruing by contract having an economic value) under a contract concluded between the claimant and a State-owned entity for a gas pipeline construction project. Decided in favour of investor Bangladesh Italy Tertiary: F - Construction 42 - Civil engineering Kaufmann-Kohler, G. - President

Schreuer, C. H. - Claimant

Otton, P. - Respondent
12.50 mln USD 6.30 mln USD Indirect expropriation Indirect expropriation Decision on Jurisdiction and Recommendation on Provisional Measures dated 21 March 2007

Award dated 30 June 2009
None None None None None None
37 2005 Siag v. Egypt Waguih Elie George Siag and Clorinda Vecchi v. Arab Republic of Egypt (ICSID Case No. ARB/05/15) Egypt - Italy BIT (1989) ICSID ICSID Investment: Majority shareholding in two local companies that acquired a parcel of oceanfront land for the development of a tourist resort on the Gulf of Aqaba on the Red Sea.

Summary: Claims arising out of a series of acts and omissions by the respondent that allegedly expropriated claimants' property of oceanfront land, including the issuance of a ministerial resolution cancelling the project's contract and the physical seizure of the property on two occasions.
Majority shareholding in two local companies that acquired a parcel of oceanfront land for the development of a tourist resort on the Gulf of Aqaba on the Red Sea. Decided in favour of investor Egypt Italy Tertiary: L - Real estate activities 68 - Real estate activities Williams, D. A. R. - President

Pryles, M. C. - Claimant

Orrego Vicuña, F. - Respondent
230.00 mln USD 74.55 mln USD Direct expropriation

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

Full protection and security, or similar

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
Direct expropriation

Full protection and security, or similar

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

Arbitrary, unreasonable and/or discriminatory measures
Decision on Jurisdiction dated 11 April 2007

Award dated 1 June 2009
Partial Dissenting Opinion of Professor Francisco Orrego Vicuña (Decision on Jurisdiction)

Dissenting Opinion of Professor Francisco Orrego Vicuña (Award)
ICSID annulment proceedings

Judicial review by national courts
Discontinued (ICSID annulment proceedings)

Award/decision upheld (Judicial review by national courts)
Order taking note of the discontinuance of the proceeding issued by the ad hoc Committee dated 26 July 2010, pursuant ICSID Arbitration Rule 45 (ICSID annulment proceedings)

Decision of the Southern District of New York Court, 2009 WL 1834562 (Judicial review by national courts)
None Schwebel, S. M. - President

Kettani, A. - Member

Tomka, P. - Member
38 2004 Alstom Power v. Mongolia Alstom Power Italia SpA and Alstom SpA v. Republic of Mongolia (ICSID Case No. ARB/04/10) The Energy Charter Treaty (1994)

Italy - Mongolia BIT (1993)
ICSID ICSID Investment: Rights under a contract concluded with local authorities to undertake a thermal energy station project.

Summary: Claims arising out of disagreements between the investor and local authorities over works to be performed under a contract they had concluded for the refurbishment of a thermal electric station in Ulaanbaatar.
Rights under a contract concluded with local authorities to undertake a thermal energy station project. Settled Mongolia Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lalonde, M. - President

Paulsson, J. - Claimant

Mason, A. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Tribunal dated 13 March 2006, pursuant to Arbitration Rule 43(1) None None None None None None
39 2003 Impregilo v. Pakistan (II) Impregilo S.p.A. v. Islamic Republic of Pakistan (II) (ICSID Case No. ARB/03/3) Italy - Pakistan BIT (1997) ICSID ICSID Investment: Rights under a concession agreement through a joint venture company for the construction of hydroelectric power facilities in Pakistan, known as the Ghazi-Barotha Hydropower project.

Summary: Claims arising out of the Pakistan Water and Power Development Authority's (WAPDA) failure to turn over the land necessary to implement certain construction contract, among other acts and omissions of WAPDA that allegedly impeded the investor's ability to proceed according to schedule.
Rights under a concession agreement through a joint venture company for the construction of hydroelectric power facilities in Pakistan, known as the Ghazi-Barotha Hydropower project. Settled Pakistan Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Guillaume, G. - President

Cremades, B. M. - Claimant

Landau, T. - Respondent
450.00 mln USD Data not available Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures

Other
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 22 April 2005

Order taking note of the discontinuance issued by the Tribunal dated 26 September 2005, pursuant to ICSID Arbitration Rule 44
None None None None None None
40 2003 L.E.S.I. v. Algeria Consortium Groupement L.E.S.I. - DIPENTA v. People's Democratic Republic of Algeria (ICSID Case No. ARB/03/8) Algeria - Italy BIT (1991) ICSID ICSID Investment: Rights under a contract entered into with certain State entity for the construction of a dam.

Summary: Claims arising out of the termination of a contract entered into between the claimants and the Agence Nationale des Barrages (ANB), a State entity, for the construction of a dam in the region of Wilaya of Bouira, Algeria.
Rights under a contract entered into with certain State entity for the construction of a dam. Decided in favour of State Algeria Italy Tertiary: F - Construction 42 - Civil engineering Tercier, P. - President

Faures, A. - Claimant

Gaillard, E. - Respondent
115.00 mln EUR (124.00 mln USD) Data not available Indirect expropriation

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures
None - jurisdiction declined Award dated 10 January 2005 None None None None None None
41 2002 Impregilo v. Pakistan (I) Impregilo S.p.A. v. Islamic Republic of Pakistan (I) (ICSID Case No. ARB/02/2) Italy - Pakistan BIT (1997) ICSID ICSID Investment: Rights under a concession agreement through a joint venture company for the construction of hydroelectric power facilities in Pakistan, known as the Ghazi-Barotha Hydropower project.

Summary: Claims arising out of delays in the performance of two concession agreements entered into between the investor and the Pakistan Water and Power Development Authority, in connection to a hydropower project.
Rights under a concession agreement through a joint venture company for the construction of hydroelectric power facilities in Pakistan, known as the Ghazi-Barotha Hydropower project. Discontinued Pakistan Italy Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Secretary General dated 11 June 2002, pursuant to Arbitration Rule 44 None None None None None None
42 2002 Salini v. Jordan Salini Costruttori S.p.A. and Italstrade S.p.A. v. Hashemite Kingdom of Jordan (ICSID Case No. ARB/02/13) Italy - Jordan BIT (1996) ICSID ICSID Investment: Rights under a contract for a dam construction project concluded with the Jordan Ministry of Water and Irrigation.

Summary: Claims arising out of the disagreement between the Government of Jordan and the investor as to the amount owed to the claimants for works done under a contract for a dam construction in Jordan.
Rights under a contract for a dam construction project concluded with the Jordan Ministry of Water and Irrigation. Decided in favour of State Jordan Italy Tertiary: F - Construction 42 - Civil engineering Guillaume, G. - President

Cremades, B. M. - Claimant

Sinclair, I. - Respondent

Schwartz, E. - Respondent (replaced)
28.00 mln USD Data not available Indirect expropriation

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

Umbrella clause

Arbitrary, unreasonable and/or discriminatory measures

Other
None - all claims dismissed at the merits stage Award dated 31 January 2006

Decision on Jurisdiction dated 9 November 2004
Declaration by Sir Ian Sinclair relating to the cost of proceedings (Award) None None None None None
43 2002 Soufraki v. UAE Hussein Nauman Soufraki v. United Arab Emirates (ICSID Case No. ARB/02/7) Italy - United Arab Emirates BIT (1995) ICSID ICSID Investment: Rights under a port concession agreement.

Summary: Claims arising out of the cancellation by the respondent of a concession agreement between the Dubai Department of Ports and Customs and the investor for the purpose of developing, managing and operating the Port of Al Hamriya and its surrounding area.
Rights under a port concession agreement. Decided in favour of State United Arab Emirates Italy Tertiary: F - Construction 42 - Civil engineering Fortier, L. Y. - President

Schwebel, S. M. - Claimant

El Kholy, A. - Respondent
580.00 mln USD Data not available Unclear None - jurisdiction declined Award dated 7 July 2004 None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the Ad Hoc Committee on the Application for Annulment of Mr. Soufraki dated 5 June 2007 (ICSID annulment proceedings) None Feliciano, F. P. - President

Nabulsi, O. - Member

Stern, B. - Member
44 2001 Impregilo v. UAE Impregilo, S.p.A and Rizzani De Eccher S.p.A. v. United Arab Emirates (ICSID Case No. ARB/01/1) Italy - United Arab Emirates BIT (1995) ICSID ICSID Investment: Data not available

Summary: Claims arising out of a mosque construction project in the UAE.
Data not available Discontinued United Arab Emirates Italy Tertiary: F - Construction 41 - Construction of buildings Tribunal not constituted Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance issued by the Secretary-General dated 7 August 2001, pursuant to Arbitration Rule 44 None None None None None None
45 2000 RFCC v. Morocco Consortium R.F.C.C. v. Kingdom of Morocco (ICSID Case No. ARB/00/6) Italy - Morocco BIT (1990) ICSID ICSID Investment: Concession contract for the construction of a specific section of a highway in Morocco.

Summary: Claims arising out of several events occurred before, during and after the performance of a concession contract granted to the claimant by public bid and signed by a State-owned company.
Concession contract for the construction of a specific section of a highway in Morocco. Decided in favour of State Morocco Italy Tertiary: F - Construction 42 - Civil engineering Briner, R. - President

Cremades, B. M. - Claimant

Fadlallah, I. - Respondent
337.60 mln MAD (36.70 mln USD) Data not available Indirect expropriation

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

National treatment

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Decision on Jurisdiction dated 16 July 2001

Arbitration Award dated 22 December 2003
None ICSID annulment proceedings Award/decision upheld (ICSID annulment proceedings) Decision of the ad hoc Committee on the Application for Annulment of Consortium R.F.C.C. dated 18 January 2006 (ICSID annulment proceedings) None Hanotiau, B. - President

Fatouros, A. A. - Member

Berman, F. - Member
46 2000 Salini v. Morocco Salini Costruttori S.p.A. and Italstrade S.p.A. v. Kingdom of Morocco (ICSID Case No. ARB/00/4) Italy - Morocco BIT (1990) ICSID ICSID Investment: Public procurement agreement for highway construction.

Summary: Claims arising out of the non-payment of the contract price to the claimant in relation to a public procurement contract for the construction of a highway, which had been awarded to the investor through tender.
Public procurement agreement for highway construction. Settled Morocco Italy Tertiary: F - Construction 42 - Civil engineering Briner, R. - President

Cremades, B. M. - Claimant

Fadlallah, I. - Respondent
132639.00 mln ITL (62.40 mln USD) Data not available Data not available Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 23 July 2001

Order taking note of the discontinuance issued by the Tribunal dated 4 February 2004, pursuant to Arbitration Rule 43(1)
None None None None None None