Investment Dispute Settlement Navigator

Concluded original arbitration proceedings:

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ISDS data set in excel format (as of 31 December 2023)

ISDS Navigator

The UNCTAD Investment Dispute Settlement Navigator – the ISDS Navigator – is maintained by UNCTAD’s IIA Section. The ISDS Navigator contains information about known international arbitration cases initiated by investors against States pursuant to international investment agreements (IIAs). Such arbitrations are also referred to as treaty-based investor-State dispute settlement (ISDS) cases.

Please cite as: UNCTAD, Investment Dispute Settlement Navigator, available at https://investmentpolicy.unctad.org/investment-dispute-settlement

UNCTAD's Work Programme on International Investment Agreements (IIAs) actively assists policymakers, government officials and other IIA stakeholders to reform IIAs with a view to making them more conducive to sustainable development and inclusive growth.

International investment rulemaking is taking place at the bilateral, regional, interregional and multilateral levels. It requires policymakers, negotiators, civil society and other stakeholders to be well informed about foreign direct investment, international investment agreements (IIAs) and their impact on sustainable development.

Main goals of UNCTAD’s Work Programme on IIAs

• Reform the international investment agreements (IIAs) regime to enhance its sustainable development dimension,

• Provide comprehensive analysis on key issues arising from the complexity of the international investment regime,

• Develop a wide range of tools to support the formulation of more balanced international investment policies.

The three pillars of activities

• Research and policy analysis: monitoring trends, identifying key emerging issues and providing cutting-edge knowledge on IIAs from a sustainable development perspective,

• Technical assistance: delivering trainings, seminars and workshops; conducting IIA and model BIT reviews; offering ad-hoc advice to strengthen the capacity of beneficiaries in handling the complexities of the IIA regime,

• Intergovernmental consensus-building: exchanging and sharing best practices and experience with the view to fostering global investment governance.

For further information, please contact us via the online contact form.
Methodology

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Disclaimer

The ISDS Navigator includes information about publicly known IIA-based international investor-State arbitration proceedings. As some proceedings (or certain aspects of proceedings) remain confidential, the information contained in the Navigator cannot be deemed exhaustive.

While every effort is made to keep the information up to date and complete, the material is provided without any guarantees or warranties as to its accuracy or completeness. UNCTAD assumes no responsibility for eventual errors or omissions in these data.

We welcome any additional information or clarifications on specific cases as well as suggestions to improve the Navigator. Please contact us using the online contact form.

Cases included in the Navigator

• an international arbitration between an investor and a State;

• fully or partially based on an IIA, such as a bilateral investment treaty or the investment chapter of a free trade agreement (not included are investor-State disputes that are solely based on contracts or on domestic investment legislation);

• submitted to arbitration through a notice of arbitration or a request for arbitration, and upon registration of such request if applicable (not included are cases where a disputing party has only notified the other party of the existence of a dispute or signalled its intention to submit a claim, but has not yet commenced the arbitration).

Sources of information and frequency of updating

The information included in the Navigator is collected from publicly available sources. Primary sources (i.e. official documents relating to the case and information provided by the administering institutions) are the main and preferred source of information. Secondary sources, such as specialized reporting services and other sources deemed reliable, are used to supplement primary sources and/or obtain case information otherwise unavailable.
The Navigator is updated on a regular, typically biannual, basis. The date of the last update is displayed on the Navigator’s home page.

Methodological notes for the recording of data

Full case name
The full case name is recorded as it appears in the official case documents and as it is registered at the administering institution if applicable (listing the claimants in alphabetical order). If there are more than five claimants in the case, the names of all claimants can be replaced by the name of the first three claimants followed by the words “and others”.

Short case name
The short case name is ascribed by UNCTAD. Typically it is the first word of a corporate claimant’s name, an abbreviation of the corporate claimant’s name, or the last name of a natural-person claimant “v.” the short version of the respondent State’s name.

If the Navigator includes more than one case with the exact same name, then “(I)” is added to the case name of the earlier case, and a “(II)”, “(III)”, etc. is added to the name of each subsequent case.

Year of initiation
This is the year in which the notice of arbitration / request for arbitration was submitted by the claimant. For arbitrations brought under the ICSID Convention Arbitration Rules or ICSID Additional Facilities (AF) Rules, the year in which the claim was registered by ICSID is used.

Applicable IIA
This is the IIA(s) pursuant to which the claimant initiated the arbitral proceedings.

Arbitral rules
These are the arbitral rules in accordance with which the proceedings are conducted. Proceedings that are not subject to any existing set of arbitral rules, i.e. where the arbitral tribunal determines procedural rules, are marked “None (ad hoc)”.

Administering institution
This is the institution that provides administrative support for the arbitral proceedings. When the proceedings are subject to arbitral rules of a certain arbitral institution (e.g. SCC or ICC), the relevant institution administers that case. In ad hoc arbitrations or those that are subject to non-institutional arbitral rules (e.g. UNCITRAL Arbitration Rules), the parties may request any arbitral institution to administer their case (e.g. PCA). Proceedings may also be conducted without being administered by any institution.

Common abbreviations for administering institutions:

• CRCICA: Cairo Regional Centre for International Commercial Arbitration
• ICC: International Chamber of Commerce (International Court of Arbitration)
• ICSID: International Centre for Settlement of Investment Disputes
• LCIA: London Court of International Arbitration
• MCCI: Moscow Chamber of Commerce and Industry
• PCA: Permanent Court of Arbitration
• SCC: Stockholm Chamber of Commerce (Arbitration Institute)

Details of investment and summary of the dispute
The details of investment are presented as argued by the claimant, unless otherwise expressly identified by an arbitral tribunal in its decisions or awards.

The summary of the dispute describes in very general terms the conduct allegedly in breach of IIA obligations as argued by the claimant (non-exhaustive).

Economic sector and subsector
This refers to the economic sector to which the investment at issue allegedly belongs. The structure of economic activities follows the International Standard Industrial Classification of All Economic Activities, Rev.4 (UN ISIC Rev.4).

Status/Outcome of original proceedings
This refers to the current status of the original arbitration proceedings.

• Decided in favour of State: the tribunal dismissed the case for lack of jurisdiction or found that the respondent State has not committed any breach of the applicable IIA.

• Decided in favour of investor: the tribunal found that the respondent State committed one or more breaches of the applicable IIA and awarded monetary compensation or non-pecuniary relief to the claimant investor.

• Decided in favour of neither party (liability found but no damages awarded): the arbitral tribunal found that the respondent State committed one or more breaches of the applicable IIA but did not award monetary compensation or non-pecuniary relief to the claimant investor.

• Settled: the disputing parties settled the case and the arbitral proceedings were discontinued for that reason.

• Discontinued: the arbitration was discontinued for any reason other than due to a (known) settlement. This includes discontinuance as a result of non-payment of arbitration fees, in order to pursue litigation in another forum, or for any other reason (including for unknown reasons).

• Pending: the arbitration proceedings are pending. A case remains pending if any of the following elements remain to be decided: jurisdiction, liability (merits), compensation. The case remains pending, for instance, if a State is found to have breached one or more IIA obligations (liability) but no award on damages has been issued yet.

Additional notes:

• The Navigator only records treaty-based disputes or treaty-based aspects of "mixed" disputes. In treaty-based cases that are simultaneously contract-based or based on national investment law ("mixed" disputes), a case is deemed concluded (for purposes of the Navigator) if the tribunal dismissed the case on jurisdiction or finds no breach of the IIA, even if it proceeds to adjudicate the contract- or statutory-based claims.

• Cases in which a final award has been rendered but which are later subject to follow-on (post-award) proceedings (e.g. ICSID annulment proceedings or domestic judicial review), are marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).

Arbitral decisions rendered
These are decisions rendered by an arbitral tribunal. Included are those decisions that concern the substance of the case and affect the final outcome. In particular, these include decisions (awards) on jurisdictional issues, liability (merits) and damages, including arbitrators’ individual opinions where these were issued. Discontinuance orders and settlement agreements are also recorded if such information is available.

Not included are any other (supplementary) arbitral decisions, e.g. concerning provisional measures or decisions regarding requests for disqualification of arbitrators. Similarly, procedural orders issued by arbitral tribunals are not included. To access a full list of documentation available with respect to a case, users are invited to use (i) the link to the case page on http://italaw.com, and/or (ii) links to the websites of governments and/or arbitral institutions provided in the “Additional information” section.

Amounts claimed and awarded
Amount claimed refers to the amount of monetary compensation claimed by the investor, not including interest, legal costs or costs of arbitration.

Amount awarded refers to the amount of monetary compensation awarded by the arbitral tribunal to the claimant, not including interest, legal costs or costs of arbitration.

For proceedings that end in a settlement, the amount of compensation that the State agreed to pay to the claimant under the terms of settlement (if known) is recorded in this section.

Amounts are recorded in the currency used by the claimant/tribunal. The list of currencies in the Navigator follows the International Organization for Standardization (ISO) 4217 code list.

To enable comparisons between cases, all amounts are also converted to US dollars. For the purposes of such conversion, the OANDA Historical Currency Converter is being used; the date of conversion is the date of the document or other source from which the information was obtained (e.g. the date in which the request for arbitration containing this amount was submitted or the date of the final award).

Whenever possible, information about amounts claimed and awarded is obtained from primary sources such as the arbitration documents. Otherwise, it is derived from other publicly available sources that are deemed reliable. In some cases, the approximate amount may be recorded to give a broad indication of the dispute’s magnitude. As a general rule, a rounded figure (to the nearest hundred thousand) of the amount claimed or awarded is provided.

If the claimant provides more than one valuation of damages claimed, the highest of these amounts is recorded.

IIA breaches alleged and found
Information about breaches alleged is primarily derived from the claimant’s request of arbitration, claimant’s memorials and/or arbitral decisions. When the relevant case documentation is not publicly available, information about breaches alleged may be obtained from other public sources that are deemed reliable.

Information about breaches found is primarily derived from the arbitral decisions. When the relevant decision is not publicly available, information about breaches found may be obtained from other public sources that are deemed reliable.

Claims concerning expropriation are classified as “direct” or “indirect” according to the characterisation made by the claimant and/or the tribunal. Whenever a claimant or the tribunal refer to “expropriation”, without distinguishing between “direct” or “indirect”, such distinction is made on the basis of the factual background of the case and the context of the claimant’s claims and tribunal’s findings.

Composition of tribunal
These are individuals who serve as members of the arbitral tribunal adjudicating the dispute (arbitrators).

The disputing party (i.e. claimant or respondent) that appointed a particular arbitrator is also recorded insofar as information is available. Instances where the respondent failed to appoint an arbitrator, and the latter was appointed by an “appointing authority”, are not recorded separately (i.e. both types of appointment are recorded under “Appointed by / designated to Respondent” without further distinction).

In case an arbitrator has been replaced by another individual (e.g. as a result of resignation, disqualification or passing away), the names of both the previous and subsequent arbitrator are recorded.

Follow-on (post-award) proceedings
Follow-on (post-award) proceedings include three types of legal proceedings:

• ICSID annulment proceedings;

• Judicial review by national courts (set-aside proceedings); and

• ICSID resubmission proceedings.

Initiation of a follow-on proceeding by either disputing party does not affect the field “Case Status/Outcome” of the original proceeding, until the follow-on proceeding is completed. For example, in a case where a final award has been rendered but it is later subject to a follow-on proceeding (e.g. ICSID annulment proceeding), the status of the case is marked according to the outcome of the original arbitral proceeding (i.e. not as “Pending”).

Decisions, judgments and/or awards rendered in the course of follow-on (post-award) proceedings, as well as any individual opinions appended to them, are recorded.

The composition of the ICSID ad hoc committees that adjudicate requests for annulment under the ICSID Convention is recorded.

Link to Italaw’s case page
The Italaw.com portal offers a wide collection of case documentation for many investor-State disputes. It makes available not only the main arbitral decisions, but also procedural orders, parties’ submissions, expert opinions and other types of documents.

A link to the relevant case page at http://italaw.com is provided where such page is available, so that users could browse all documents relating to the case at hand.

Additional information
This section provides links to sources of information used for gathering data for the case at hand or otherwise relevant to that case. These may include links to websites of arbitral/administering institutions, governments, international organisations, specialised reporting services (including subscription-based), media and other resources.

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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	2025	Fibranet v. El Salvador	Fibranet, Sociedad Anónima v. Republic of El Salvador (ICSID Case No. ARB/25/6)	CACM Agreement on Investment and Trade Services (2002) CAFTA - DR (2004)	ICSID	ICSID	Investment: Broadcasting concession held by local subsidiary Cablefrecuencias S.A. de C.V., including subscription-based television channels. Summary: Claims arising out of a resolution issued by the regulatory authority for telecommunications (SIGET) to retroactively cancel the automatic renewal mechanism of a telecommunications concession held by the claimant’s local subsidiary, Cablefrecuencias. According to the claimant, the regulator also refused to expand Cablefrecuencias’ concession to mobile services and thereby interfered with its 4G mobile network project.	Broadcasting concession held by local subsidiary Cablefrecuencias S.A. de C.V., including subscription-based television channels.	Settled	El Salvador	Guatemala	Tertiary: J - Information and communication	61 - Telecommunications	Bassiri, N. - President Schill, S. - Claimant Thomas, J. C. - Respondent	130.00 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	Order taking note of the discontinuance of the proceeding dated 1 December 2025	None	Data not available	Data not available	Data not available	Data not available	Data not available
2	2024	NC Telecom and WOM v. Chile	NC Telecom AS, NC Telecom II AS, WOM Mobile S.A. and WOM S.A. v. Republic of Chile (ICSID Case No. ARB/24/30)	Chile - Norway BIT (1993)	ICSID	ICSID	Investment: Telecommunications concession held by WOM S.A. for the roll-out of 5G infrastructure. Summary:	Telecommunications concession held by WOM S.A. for the roll-out of 5G infrastructure.	Settled	Chile	Norway	Tertiary: J - Information and communication	61 - Telecommunications	Martins, S. - President Garibaldi, O. M. - Claimant Mourre, A. - Respondent	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Award embodying the parties’ settlement agreement dated 25 November 2025	None	Data not available	Data not available	Data not available	Data not available	Data not available
3	2024	Rome Resources and IM v. Mozambique	Rome Resources PLC (formerly Pathfinder Minerals PLC) and IM Minerals Limited v. Republic of Mozambique (ICSID Case No. ARB/24/4)	Mozambique - United Kingdom BIT (2004)	ICSID	ICSID	Investment: Shareholding (99,99%) in local subsidiary Companhia Mineira de Nabúri SA with mining concessions for the Naburi and Moebase mineral sands deposits. Summary: Claims arising out of the Government’s alleged actions and omissions relating to the disputed transfer of mining concession 4623C from the claimants’ wholly-owned local subsidiary to another company without the claimants’ consent.	Shareholding (99,99%) in local subsidiary Companhia Mineira de Nabúri SA with mining concessions for the Naburi and Moebase mineral sands deposits.	Settled	Mozambique	United Kingdom	Primary: B - Mining and quarrying	7 - Mining of metal ores	Adekoya, O. - President Martinez, L. - Claimant Moreno Rodríguez, J. A. - Respondent	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Award embodying the parties’ settlement agreement dated 30 April 2025	None	Data not available	Data not available	Data not available	Data not available	Data not available
4	2023	British Caribbean Bank and Prize v. Belize (II)	British Caribbean Bank Limited & Prize Holdings International Limited v. The Government of Belize (II) (PCA Case No. 2023-38)	Belize - United Kingdom BIT (1982)	UNCITRAL	PCA	Investment: Summary:		Settled	Belize	United Kingdom	Tertiary: F - Construction	42 - Civil engineering	Kalicki, J. E. - President Sachs, K. - Claimant Levine, J. - Respondent	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Data not available	Data not available	None	None	None	None	None
5	2023	EMS Shipping v. Albania	EMS Shipping & Trading GmbH v. Republic of Albania (ICSID Case No. ARB/23/9)	Albania - Germany BIT (1991)	ICSID	ICSID	Investment: Concession agreement for the management, operation and maintenance of the Durrës Port East Terminal. Summary:	Concession agreement for the management, operation and maintenance of the Durrës Port East Terminal.	Settled	Albania	Germany	Tertiary: H - Transportation and storage	52 - Warehousing and support activities for transportation	Kaufmann-Kohler, G. - President Alexandrov, S. A. - Claimant van den Berg, A. J. - Respondent	40.00 mln EUR (44.10 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 dated 13 August 2024	None	None	None	None	None	None
6	2023	Pizzorno v. Morocco	Groupe Pizzorno Environnement v. Kingdom of Morocco (ICSID Case No. ARB/23/34)	France - Morocco BIT (1996)	ICSID	ICSID	Investment: Summary:		Settled	Morocco	France	Tertiary: E - Water supply; sewerage, waste management and remediation activities Tertiary: E - Water supply; sewerage, waste management and remediation activities	38 - Waste collection, treatment and disposal activities; materials recovery 37 - Sewerage	Sachs, K. - President Ziadé, N. - Claimant Hafez, K. - 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 of the proceeding dated 21 July 2025	None	None	None	None	None	None
7	2022	Consolidated Water v. Mexico	Consolidated Water Coöperatief, U.A. v. United Mexican States (ICSID Case No. ARB/22/6)	Mexico - Netherlands BIT (1998)	ICSID	ICSID	Investment: Investments through local subsidiaries, N.S.C. Agua, S.A. de C.V. and Aguas de Rosarito, S.A.P.I. de C.V., in a seawater desalination plant project in Playas de Rosarito, Mexico. Summary: Claims arising out of Mexican state entities’ termination of a public-private partnership agreement with the claimant’s subsidiary, Aguas de Rosarito, related to the development of a seawater desalination plant.	Investments through local subsidiaries, N.S.C. Agua, S.A. de C.V. and Aguas de Rosarito, S.A.P.I. de C.V., in a seawater desalination plant project in Playas de Rosarito, Mexico.	Settled	Mexico	Netherlands	Tertiary: E - Water supply; sewerage, waste management and remediation activities	36 - Water collection, treatment and supply	Data not available	57.60 mln USD	36.40 mln USD	Data not available	Not applicable - settled or discontinued before decision on liability	Order Taking Note of the Discontinuance of the Proceeding dated 31 May 2024	None	None	None	None	None	None
8	2022	Ozkartallar and Campak v. Pakistan	Ozkartallar Inşaat Sanayi Ve Ticaret A.S. and Campak Temizlik Bilgi Işlem Otomasyon Saglik Hizmetleri Iletişim Sanayi Ve Ticaret A.S. v. Islamic Republic of Pakistan (ICSID Case No. ARB/22/16)	Pakistan - Turkey BIT (1995)	ICSID	ICSID	Investment: Rights under a contract for waste management services concluded with state-owned Lahore Waste Management Company. Summary:	Rights under a contract for waste management services concluded with state-owned Lahore Waste Management Company.	Settled	Pakistan	Türkiye	Tertiary: E - Water supply; sewerage, waste management and remediation activities	36 - Water collection, treatment and supply	Data not available	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 pursuant to ICSID Arbitration Rule 43(1) dated 13 December 2023	None	None	None	None	None	None
9	2021	Earlyguard v. India	Earlyguard Limited v. India	India - United Kingdom BIT (1994)	Data not available	Data not available	Investment: Summary:		Settled	India	United Kingdom	Primary: B - Mining and quarrying	7 - Mining of metal ores	Data not available	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Data not available	Data not available	None	None	None	None	None
10	2021	Enel v. Costa Rica	Enel Colombia S.A. (formerly ESSA2 SpA) and Enel Green Power Costa Rica S.A. v. Republic of Costa Rica (ICSID Case No. ARB/21/49)	Chile - Costa Rica BIT (1996)	ICSID	ICSID	Investment: Investments in hydroelectric power plants. Summary:	Investments in hydroelectric power plants.	Settled	Costa Rica	Chile	Tertiary: D - Electricity, gas, steam and air conditioning supply	35 - Electricity, gas, steam and air conditioning supply	van den Berg, A. J. - President Eljuri, E. - Claimant Vinuesa, R. E. - 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 of the Proceeding dated 25 April 2023 (English) Order Taking Note of the Discontinuance of the Proceeding dated 25 April 2023 (Spanish)	None	None	None	None	None	None
11	2021	KGL v. Egypt	KGL International for Ports, Warehousing, and Transport K.S.C.C. v. Arab Republic of Egypt (ICSID Case No. ARB/21/21)	Egypt - Kuwait BIT (2001)	ICSID	ICSID	Investment: Shareholding of 25 per cent in Damietta International Ports Company (DIPCO) S.A.E., with a concession to build and operate a container terminal at the Damietta port. Summary: Claims arising out of the Damietta Port Authority’s termination of a 40-year concession contract for a port project concluded with the DIPCO consortium in which the claimant holds a stake.	Shareholding of 25 per cent in Damietta International Ports Company (DIPCO) S.A.E., with a concession to build and operate a container terminal at the Damietta port.	Settled	Egypt	Kuwait	Tertiary: H - Transportation and storage	52 - Warehousing and support activities for transportation	Gloster, E. - President Alexandrov, S. A. - Claimant Douglas, Z. - 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 of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 28 April 2022	None	None	None	None	None	None
12	2021	Montero Mining v. Tanzania	Montero Mining and Exploration Ltd v. United Republic of Tanzania (ICSID Case No. ARB/21/6)	Canada - United Republic of Tanzania BIT (2013)	ICSID	ICSID	Investment: Rights under a retention licence for exploration activities at the Wigu Hill rare earth deposit. Summary: Claims arising out of the Government’s cancellation of the claimant’s retention licence for the Wigu Hill rare earth element project.	Rights under a retention licence for exploration activities at the Wigu Hill rare earth deposit.	Settled	Tanzania, United Republic of	Canada	Primary: B - Mining and quarrying	8 - Other mining and quarrying	Ngwanza, A. - President Teynier, E. - Claimant Abraham, C. W. M. - Respondent	70.00 mln USD	27.00 mln USD	Data not available	Not applicable - settled or discontinued before decision on liability	Order taking note of the discontinuance of the proceeding dated 31 March 2025	None	None	None	None	None	None
13	2021	Petroquímica v. Ecuador	Petroquímica Comodoro Rivadavia S.A. v. Republic of Ecuador (PCA Case No. 2021-28)	Argentina - Ecuador BIT (1994)	UNCITRAL	PCA	Investment: Contracts for oil exploitation signed by local subsidiaries with state-owned Petroecuador in 1999. Summary: Claims arising out of the Government’s alleged non-fulfilment of an arbitration award rendered by the Quito Chamber of Commerce in favour of the claimant.	Contracts for oil exploitation signed by local subsidiaries with state-owned Petroecuador in 1999.	Settled	Ecuador	Argentina	Primary: B - Mining and quarrying	6 - Extraction of crude petroleum and natural gas	Data not available	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Termination order dated 15 July 2024	None	Data not available	Data not available	Data not available	Data not available	Data not available
14	2021	Taheri v. United Arab Emirates	Amir Masood Taheri v. United Arab Emirates (ICSID Case No. ARB/21/19)	Sweden - United Arab Emirates BIT (1999)	ICSID	ICSID	Investment: Investments in companies Epoch and Reezmouj. Summary: Claims arising out of the Government’s failure to renew the claimant’s permit to reside in the country, affecting his investments in import-export activities and the trading of general commodities.	Investments in companies Epoch and Reezmouj.	Settled	United Arab Emirates	Sweden	Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles	46 - Wholesale trade, except of motor vehicles and motorcycles	Fernández-Armesto, J. - President Reichert, K. - Claimant Vinuesa, R. E. - Respondent	110.80 mln USD	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Award embodying the parties’ settlement agreement dated 28 November 2022	None	None	None	None	None	None
15	2021	True Blue Development and others v. Grenada	True Blue Development Limited, True Blue Services Limited, True Blue Management Limited, Polar Palms LLC and Circle Park Holdings LLC v. Grenada (ICSID Case No. ARB/21/37)	Grenada - United States BIT (1986)	ICSID	ICSID	Investment: Investments in a luxury hotel complex project, the Kimpton Kawana Bay Resort. Summary: Claims arising out of the government’s actions related to a luxury hotel complex project in which the claimants had invested using a funding mechanism under Grenada’s citizenship by investment programme (CBI). Allegedly the government withdrew its earlier approval of a budget increase for the hotel construction project; it limited the spending of CBI funds and halted the approval of CBI applications by potential project investors.	Investments in a luxury hotel complex project, the Kimpton Kawana Bay Resort.	Settled	Grenada	United States of America	Tertiary: F - Construction Tertiary: I - Accommodation and food service activities	41 - Construction of buildings 55 - Accommodation	Miles, W. J. - President Grigera Naón, H. A. - Claimant Berry, D. S. - Respondent	Data not available	Data not available	Arbitrary, unreasonable and/or discriminatory measures Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Umbrella clause Most-favoured nation treatment National treatment Indirect expropriation	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 6 September 2023	None	None	None	None	None	None
16	2021	United Group and others v. Serbia	United Group B.V., Adria Serbia Holdco B.V., and Serbia Broadband–srpske kablovske mreže d.o.o. Beograd v. Republic of Serbia (ICSID Case No. ARB/21/5)	Netherlands - Serbia BIT (2002)	ICSID	ICSID	Investment: Summary:		Settled	Serbia	Netherlands	Tertiary: J - Information and communication	60 - Programming and broadcasting activities	Fernández-Armesto, J. - President Alexandrov, S. A. - Claimant Vinuesa, R. E. - Respondent	Data not available	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Award embodying the parties’ settlement agreement dated 7 March 2025	None	None	None	None	None	None
17	2021	Vicat v. Egypt	Vicat S.A. v. Arab Republic of Egypt (ICSID Case No. ARB/21/35)	Egypt - France BIT (1974)	ICSID	ICSID	Investment: Majority shareholding in Sinaï Cement Company. Summary: Claims arising out of the Government’s alleged attempts to force the claimant to reduce its majority shareholding in Sinaï Cement Company by blocking Sinaï Cement’s management processes and operations. According to the claimant, Sinaï Cement faced a deadlock due to Government authorities’ interpretation of the legislation on foreign interests in the Sinai region.	Majority shareholding in Sinaï Cement Company.	Settled	Egypt	France	Secondary: C - Manufacturing	23 - Manufacture of other non-metallic mineral products	Radicati di Brozolo, L. - Claimant Griffith, G. - Respondent Legum, B. - President	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 pursuant to ICSID Arbitration Rule 43(1) dated 14 April 2022	None	None	None	None	None	None
18	2021	Wang v. Finland	Wang Jiazhu v. Republic of Finland	China - Finland BIT (2004)	UNCITRAL	None	Investment: Investments in the Nordic-China Centre, a wholesale distribution and logistics centre located in Kouvola, through Finnish-incorporated company, Nordic Finland Investment Oy. Summary: Claims arising out of an alleged extensive raid of the claimant's Nordic-China Centre by Finnish Border Guards, the detention of the claimant and the subsequent sale of his real estate. According to the claimant, this resulted in the business collapse of Nordic-China Centre.	Investments in the Nordic-China Centre, a wholesale distribution and logistics centre located in Kouvola, through Finnish-incorporated company, Nordic Finland Investment Oy.	Settled	Finland	China	Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles	46 - Wholesale trade, except of motor vehicles and motorcycles	Mance, J. - President Bokhary, S. K. S. - Claimant Hobér, K. - Respondent	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 Indirect expropriation	Not applicable - settled or discontinued before decision on liability	Ruling on Respondent’s Jurisdictional Objection dated 10 June 2022 Termination Order dated 24 October 2023	None	None	None	None	None	None
19	2020	Barrick v. Papua New Guinea	Barrick (PD) Australia Pty Limited v. Independent State of Papua New Guinea (ICSID Case No. ARB/20/27)	Australia - Papua New Guinea BIT (1990)	ICSID	ICSID	Investment: Investments in Barrick Niugini Ltd, a joint venture holding rights under a special mining lease for the operation of the Porgera gold mine located in the Enga Province of Papua New Guinea. Summary: Claims arising out of the Government’s decision not to extend a special mining lease held by the claimant’s local company, Barrick Niugini, for the operation of the Porgera gold mine.	Investments in Barrick Niugini Ltd, a joint venture holding rights under a special mining lease for the operation of the Porgera gold mine located in the Enga Province of Papua New Guinea.	Settled	Papua New Guinea	Australia	Primary: B - Mining and quarrying	7 - Mining of metal ores	Mourre, A. - President King, B. D. - Claimant Sands, P. - 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 of the Proceeding dated 25 January 2024	None	None	None	None	None	None
20	2020	IBT v. Panama (II)	IBT Group, LLC and IBT, LLC v. Republic of Panama (II) (ICSID Case No. ARB/20/31)	Panama - United States FTA (2007)	ICSID	ICSID	Investment: Investments in a construction project in Panama through Consorcio Cefere Panamá. Summary: Claims arising out of the Government’s termination of a contract with the claimants’ local company Consorcio Cefere Panamá for the construction of a women’s prison, and the imposition of a 3-year ban on the claimants to enter into any government contracts.	Investments in a construction project in Panama through Consorcio Cefere Panamá.	Settled	Panama	United States of America	Tertiary: F - Construction	41 - Construction of buildings	Villanúa Gómez, D. - President Tawil, G. S. - Claimant Pinto, M. - 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 of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 22 July 2022 (Spanish)	None	None	None	None	None	None
21	2020	OTP Bank v. Croatia	OTP Bank Plc v. Republic of Croatia (ICSID Case No. ARB/20/43)	Croatia - Hungary BIT (1996)	ICSID	ICSID	Investment: Investments in the banking industry in Croatia through a local subsidiary. Summary: Claims arising out of the law that prescribed a change in the currency of loans, issued in Croatia, from Swiss Franc to the Euro.	Investments in the banking industry in Croatia through a local subsidiary.	Settled	Croatia	Hungary	Tertiary: K - Financial and insurance activities	64 - Financial service activities, except insurance and pension funding	Data not available	224.00 mln HRK (34.50 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 dated 16 July 2021	None	None	None	None	None	None
22	2020	Webuild v. Dominican Republic	Webuild S.p.A (Salini Impregilo S.p.A) v. Dominican Republic (PCA Case No. 2020-50)	Dominican Republic - Italy BIT (2006)	Data not available	PCA	Investment: Summary:		Settled	Dominican Republic	Italy	Tertiary: F - Construction	42 - Civil engineering	Kalicki, J. E. - President Name not available - Claimant Name not available - Respondent	28.80 mln USD	Data not available	Data not available	Not applicable - settled or discontinued before decision on liability	Termination Order dated 14 October 2024	None	None	None	None	None	None
23	2020	Winshear v. Tanzania	Winshear Gold Corp. v. United Republic of Tanzania (ICSID Case No. ARB/20/25)	Canada - United Republic of Tanzania BIT (2013)	ICSID	ICSID	Investment: Four retention licences held by a local subsidiary for the exploration of mineral resources at the SMP gold project in southwest Tanzania. Summary: Claims arising out of the Government’s cancellation of retention licences for mineral rights issued prior to the 2018 mining regulations, following amendments to the Mining Act in 2017, and the transfer of related mining rights to the government, including those held by the claimant’s local subsidiary for the SMP gold project.	Four retention licences held by a local subsidiary for the exploration of mineral resources at the SMP gold project in southwest Tanzania.	Settled	Tanzania, United Republic of	Canada	Primary: B - Mining and quarrying	7 - Mining of metal ores	Kaufmann-Kohler, G. - President Johnson, O. T. - Claimant Fashole-Luke II, E. W. - Respondent	116.10 mln CAD (83.80 mln USD)	30.00 mln USD	Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Direct expropriation	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 1 November 2023	None	None	None	None	None	None
24	2019	Enel Fortuna v. Panama	Enel Fortuna S.A. v. Republic of Panama (ICSID Case No. ARB/19/5)	Italy - Panama BIT (2009)	ICSID	ICSID	Investment: Investments in the operation of a 300 megawatt hydroelectric power plant located on the Chiriquí River, in southwestern Panama. Summary: Claims arising out of the Government’s delay in the construction of electricity transmission infrastructure and the suspension of compensation payments due to the claimant under a 2014 agreement with the Ministry of Economy and Finance, related to local court proceedings brought by the national comptroller general contesting the constitutionality of the compensation agreement.	Investments in the operation of a 300 megawatt hydroelectric power plant located on the Chiriquí River, in southwestern Panama.	Settled	Panama	Panama	Tertiary: D - Electricity, gas, steam and air conditioning supply	35 - Electricity, gas, steam and air conditioning supply	Fernández-Armesto, J. - President Gonzalez de Cossio, F. - Claimant Griffith, G. - Respondent	11.00 mln EUR (12.50 mln USD)	15.50 mln USD	Data not available	Not applicable - settled or discontinued before decision on liability	Award dated 18 August 2021	None	None	None	None	None	None
25	2019	Gerald v. Sierra Leone	Gerald International Limited v. Republic of Sierra Leone (ICSID Case No. ARB/19/31)	Sierra Leone - United Kingdom BIT (2000)	ICSID	ICSID	Investment: Rights held by local subsidiary SL Mining Limited under a 25-year large scale licence agreement to mine iron ore in Port Loko District, Sierra Leone. Summary: Claims arising out of the government’s decision in 2019 to indefinitely suspend iron ore exports from the Marampa mine operated by the claimant’s local subsidiary SL Mining under a long-term mining licence awarded to it in 2017.	Rights held by local subsidiary SL Mining Limited under a 25-year large scale licence agreement to mine iron ore in Port Loko District, Sierra Leone.	Settled	Sierra Leone	United Kingdom	Primary: B - Mining and quarrying	7 - Mining of metal ores	Reinisch, A. - President Tawil, G. S. - Claimant Adekoya, O. - 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 of the proceeding pursuant to ICSID Arbitration Rule 43(1) dated 28 January 2022	None	None	None	None	None	None

No results found

No.	Name	Cases as Respondent State	Cases as Home State of claimant
1	Albania	14	1
2	Algeria	15	2
3	Angola	2	0
4	Argentina	65	6
5	Armenia	8	1
6	Australia	6	14
7	Austria	1	33
8	Azerbaijan	7	1
9	Bahamas	0	2
10	Bahrain	4	1
11	Bangladesh	2	0
12	Barbados	1	9
13	Belarus	5	2
14	Belgium	5	22
15	Belize	4	0
16	Benin	1	0
17	Bermuda	0	1
18	Bolivia, Plurinational State of	19	1
19	Bosnia and Herzegovina	5	0
20	British Virgin Islands	0	1
21	Bulgaria	13	3
22	Burkina Faso	1	0
23	Burundi	4	0
24	Cabo Verde	1	0
25	Cambodia	1	0
26	Cameroon	3	0
27	Canada	36	80
28	Chile	9	10
29	China	9	20
30	Colombia	29	5
31	Comoros	1	0
32	Congo	3	0
33	Congo, Democratic Republic of the	4	0
34	Costa Rica	16	2
35	Croatia	20	3
36	Cuba	1	0
37	Cyprus	6	39
38	Czechia	43	8
39	Denmark	2	9
40	Dominican Republic	11	2
41	Ecuador	32	0
42	Egypt	48	7
43	El Salvador	5	1
44	Equatorial Guinea	2	0
45	Estonia	5	3
46	Ethiopia	6	0
47	European Union	2	0
48	Finland	3	3
49	France	4	69
50	Gabon	3	0
51	Gambia	2	0
52	Georgia	18	1
53	Germany	7	90
54	Ghana	4	0
55	Gibraltar	0	2
56	Greece	5	16
57	Grenada	2	0
58	Guatemala	9	2
59	Guinea	1	0
60	Guyana	1	0
61	Honduras	12	0
62	Hong Kong, China SAR	0	2
63	Hungary	18	4
64	India	30	12
65	Indonesia	7	1
66	Iran, Islamic Republic of	1	6
67	Iraq	6	0
68	Ireland	0	2
69	Israel	0	10
70	Italy	15	53
71	Jamaica	0	1
72	Japan	1	6
73	Jordan	10	10
74	Kazakhstan	22	7
75	Kenya	2	1
76	Korea, Republic of	10	9
77	Kuwait	7	9
78	Kyrgyzstan	18	1
79	Lao People's Democratic Republic	4	0
80	Latvia	10	5
81	Lebanon	6	7
82	Lesotho	2	0
83	Libya	23	2
84	Liechtenstein	0	1
85	Lithuania	9	8
86	Luxembourg	1	48
87	Macao, China SAR	0	1
88	Madagascar	4	0
89	Malaysia	4	10
90	Malta	1	5
91	Mauritius	4	18
92	Mexico	61	7
93	Moldova, Republic of	14	1
94	Mongolia	6	0
95	Montenegro	7	0
96	Morocco	10	0
97	Mozambique	5	0
98	Myanmar	3	0
99	Nepal	1	0
100	Netherlands	4	138
101	Nicaragua	3	0
102	Nigeria	5	0
103	North Macedonia	11	0
104	Norway	3	6
105	Oman	4	2
106	Pakistan	13	0
107	Panama	27	12
108	Papua New Guinea	1	0
109	Paraguay	4	0
110	Peru	36	5
111	Philippines	8	1
112	Poland	41	8
113	Portugal	1	10
114	Qatar	3	9
115	Romania	27	1
116	Russian Federation	34	28
117	Rwanda	2	0
118	Saudi Arabia	11	8
119	Senegal	7	0
120	Serbia	16	0
121	Seychelles	0	2
122	Sierra Leone	1	0
123	Singapore	0	17
124	Slovakia	14	1
125	Slovenia	6	3
126	South Africa	1	3
127	Spain	58	82
128	Sri Lanka	5	0
129	Sudan	2	0
130	Sweden	1	15
131	Switzerland	1	56
132	Syrian Arab Republic	2	0
133	Tajikistan	2	0
134	Tanzania, United Republic of	15	0
135	Thailand	2	0
136	Trinidad and Tobago	3	0
137	Tunisia	4	2
138	Türkiye	19	51
139	Turkmenistan	18	0
140	Uganda	1	0
141	Ukraine	38	19
142	United Arab Emirates	7	17
143	United Kingdom	2	129
144	United States of America	25	240
145	Uruguay	9	1
146	Uzbekistan	10	1
147	Venezuela, Bolivarian Republic of	67	4
148	Viet Nam	13	0
149	Yemen	3	0
150	Zimbabwe	3	0

No results found

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