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	AEROC Investment v. Ukraine	AEROC Investment Deutschland GmbH v. Ukraine (ICSID Case No. ARB/25/28)	Germany - Ukraine BIT (1993)	ICSID	ICSID	Investment: Ownership of the local subsidiary Aeroc LLC, a manufacturer of autoclaved aerated concrete for use in construction. Summary: Claims arising out of the Government’s nationalization of the claimant’s local subsidiary and its two concrete plants, following Ukraine’s imposition of sanctions on the LSR Group PJSC incorporated in the Russian Federation.	Ownership of the local subsidiary Aeroc LLC, a manufacturer of autoclaved aerated concrete for use in construction.	Pending	Ukraine	Germany	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	Data not available	Data not available	Data not available	Data not available	Data not available
2	2025	Air Liquide and Azerus v. Mexico	L’Air Liquide, société anonyme pour l’Etude et l’Exploitation des procédés Georges Claude, Air Liquide International S.A., and Azerus S.A.S. v. United Mexican States (ICSID Case No. ARB/25/17)	France - Mexico BIT (1998)	ICSID	ICSID	Investment: Ownership of a hydrogen production plant, located inside the Miguel Hidalgo Refinery in Tula de Allende, and a long-term agreement to supply hydrogen to state-owned oil company PEMEX for use in the petroleum refining process. Summary: Claims arising out of the Government’s 2024 decree expropriating the claimants’ hydrogen production plant in favour of state-owned company Petróleos Mexicanos (PEMEX), after an earlier decree for temporary occupation ordering PEMEX to operate and maintain the plant.	Ownership of a hydrogen production plant, located inside the Miguel Hidalgo Refinery in Tula de Allende, and a long-term agreement to supply hydrogen to state-owned oil company PEMEX for use in the petroleum refining process.	Pending	Mexico	France	Tertiary: D - Electricity, gas, steam and air conditioning supply Secondary: C - Manufacturing	35 - Electricity, gas, steam and air conditioning supply 20 - Manufacture of chemicals and chemical products	Name not available - President Grigera Naón, H. A. - Claimant Douglas, Z. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
3	2025	Allianz v. Mexico	Allianz SE v. United Mexican States (ICSID Case No. ARB/25/32)	Germany - Mexico BIT (1998)	ICSID	ICSID	Investment: Ownership (100 per cent) of the local subsidiary Allianz México S.A. Compañía de Seguros. Summary:	Ownership (100 per cent) of the local subsidiary Allianz México S.A. Compañía de Seguros.	Pending	Mexico	Germany	Tertiary: K - Financial and insurance activities	65 - Insurance, reinsurance and pension funding, except compulsory social security	Name not available - President Eljuri, E. - Claimant Fernández Antuña, A. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
4	2025	Amec Foster Wheeler and others v. Colombia (II)	Amec Foster Wheeler USA Corporation, Process Consultants, Inc., and Joint Venture Foster Wheeler USA Corporation and Process Consultants, Inc. v. Republic of Colombia (II) (ICSID Case No. ARB/25/16)	Colombia - United States TPA (2006)	ICSID	ICSID	Investment: Summary:		Pending	Colombia	United States of America	Tertiary: M - Professional, scientific and technical activities	71 - Architectural and engineering activities; technical testing and analysis	Data not available	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
5	2025	ArcelorMittal v. Italy	ArcelorMittal S.A. v. Italian Republic (ICSID Case No. ARB/25/34)	The Energy Charter Treaty (1994)	ICSID	ICSID	Investment: Indirect shareholding in Acciaierie d’Italia SpA (ADI, formerly Ilva) as part of a joint venture between ArcelorMittal and state-owned company Invitalia. Summary: Claims arising out of the Government’s placement into extraordinary administration of Acciaierie d’Italia, a steel production company, resulting in the claimant’s loss of control over the company as one of the two indirect shareholders.	Indirect shareholding in Acciaierie d’Italia SpA (ADI, formerly Ilva) as part of a joint venture between ArcelorMittal and state-owned company Invitalia.	Pending	Italy	Luxembourg	Secondary: C - Manufacturing	24 - Manufacture of basic metals	Name not available - President Tawil, G. S. - Claimant Douglas, Z. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
6	2025	Asesores Financieros v. Uruguay	Asesores Financieros Andalucía Occidental, Sociedad Gestora de Patrimonios S.A. v. Oriental Republic of Uruguay (ICSID Case No. ARB/25/35)	Spain - Uruguay BIT (1992)	ICSID	ICSID	Investment: Indirect majority shareholding in the local company Consorcio Ruta Uno S.A., holding a concession contract for the construction of a highway and bridge over the Santa Lucía river and the operation of toll booths. Summary: Claims arising out of the Government’s 2005 unilateral termination of a concession contract with Consorcio Ruta 1 for the construction and operation of a toll highway and bridge.	Indirect majority shareholding in the local company Consorcio Ruta Uno S.A., holding a concession contract for the construction of a highway and bridge over the Santa Lucía river and the operation of toll booths.	Pending	Uruguay	Spain	Tertiary: F - Construction	42 - Civil engineering	Data not available	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
7	2025	BGHL v. Ghana	Blue Gold Holdings Limited v. Republic of Ghana	Ghana - United Kingdom BIT (1989)	Data not available	Data not available	Investment: Investment in the Bogoso Prestea mine, with mining leases held by local subsidiary Blue Gold Bogoso Prestea Ltd. Summary: Claims arising out of the Minerals Commission’s 2024 notice of termination of mining leases for the Bogoso Prestea Mine, which the claimant’s subsidiary had acquired from the previous leaseholders. Following the notice of termination, an interim management committee formed by the Minerals Commission assumed managerial control of the mine site.	Investment in the Bogoso Prestea mine, with mining leases held by local subsidiary Blue Gold Bogoso Prestea Ltd.	Pending	Ghana	United Kingdom	Primary: B - Mining and quarrying	7 - Mining of metal ores	Data not available	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
8	2025	Bright Mountain v. Myanmar	Bright Mountain Pty. Ltd. v. Republic of the Union of Myanmar (ICSID Case No. ARB(AF)/25/1)	AANZFTA (2009)	ICSID AF	ICSID	Investment: Mining concession under a joint venture agreement for the Bawdwin lead silver project, with the local subsidiary (Bright Mountain Resources Myanmar Co., Ltd.) holding a 51% stake. Summary:	Mining concession under a joint venture agreement for the Bawdwin lead silver project, with the local subsidiary (Bright Mountain Resources Myanmar Co., Ltd.) holding a 51% stake.	Pending	Myanmar	Australia	Primary: B - Mining and quarrying	7 - Mining of metal ores	Rajah, V. K. - President Drymer, S. L. - Claimant Thomas, J. C. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
9	2025	Brookfield v. Peru	Brookfield Corporation v. Republic of Peru (ICSID Case No. ARB/25/14)	Canada - Peru FTA (2008)	ICSID	ICSID	Investment: Shareholding in Rutas de Lima, which holds a highway concession and operates toll roads in Lima. Summary: Claims arising out of court rulings that suspended the right of Rutas de Lima to collect fees at several toll stations, as well as other alleged arbitrary and abusive actions taken by public authorities against Rutas de Lima.	Shareholding in Rutas de Lima, which holds a highway concession and operates toll roads in Lima.	Pending	Peru	Canada	Tertiary: F - Construction	42 - Civil engineering	Name not available - President Schill, S. - Claimant Douglas, Z. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
10	2025	Centauro and Natanor v. Colombia	Centauro Capital, S.L.U. and Natanor XXI, S.L.U. v. Republic of Colombia (ICSID Case No. ARB/25/5)	Colombia - Spain BIT (2005)	ICSID	ICSID	Investment: Indirect shareholding in EPS Sanitas, through Keralty S.A.S. Summary: Claims arising out of the Government’s intervention and temporary takeover of EPS Sanitas in April 2024.	Indirect shareholding in EPS Sanitas, through Keralty S.A.S.	Pending	Colombia	Spain	Tertiary: Q - Human health and social work activities	86 - Human health activities	Name not available - President Álvarez, H. C. - Claimant Mourre, A. - Respondent	1200.00 mln USD	Data not available	Indirect expropriation Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Arbitrary, unreasonable and/or discriminatory measures	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
11	2025	Draslovka Holding v. Mexico	Draslovka Holding A.S. v. United Mexican States (ICSID Case No. ARB/25/7)	Czech Republic - Mexico BIT (2002)	ICSID	ICSID	Investment: Ownership of a chemical production plant project for sodium cyanide (Laguna project) in the Municipality Gómez Palacio. Summary: Claims arising out of the Government’s alleged actions and omissions concerning the occupation of the claimant’s construction site by local community groups, preventing the access needed to resume construction activities for the chemical production plant or recover equipment. According to the claimant, local authorities failed to enforce court orders requiring the site’s vacation.	Ownership of a chemical production plant project for sodium cyanide (Laguna project) in the Municipality Gómez Palacio.	Pending	Mexico	Czechia	Secondary: C - Manufacturing	20 - Manufacture of chemicals and chemical products	Data not available	240.00 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	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
12	2025	EMCO v. Honduras	EMCO v. Republic of Honduras	Central America - Panama FTA (2002) CAFTA - DR (2004)	Data not available	Data not available	Investment: Concession contract for the construction and operation of the Palmerola International Airport. Summary: Claims arising out of the Government’s alleged interference with the claimant’s operation of the Palmerola International Airport, and other alleged actions harming companies affiliated with the claimant.	Concession contract for the construction and operation of the Palmerola International Airport.	Pending	Honduras	Panama United States of America	Tertiary: F - Construction Tertiary: H - Transportation and storage	41 - Construction of buildings 52 - Warehousing and support activities for transportation	Data not available	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
13	2025	EMIS v. Ukraine	E.M.I.S. Finance B.V. v. Ukraine (ICSID Case No. ARB/25/10)	Netherlands - Ukraine BIT (1994)	ICSID	ICSID	Investment: Summary: Claims arising out of the Government’s alleged unlawful expropriation of Sense Bank (formerly Alfa-Bank).		Pending	Ukraine	Netherlands	Tertiary: K - Financial and insurance activities	64 - Financial service activities, except insurance and pension funding	Name not available - President Hoffmann, A. K. - Claimant Khan, M. A. - Respondent	Data not available	Data not available	Direct expropriation Indirect expropriation Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Transfer of funds	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
14	2025	Estate of Ian Colin Orr-Ewing and others v. Mexico	Estate of Ian Colin Orr-Ewing, Francis Ian Lance Orr-Ewing, Robert James Orr-Ewing, Christopher Charles Fisher v. United Mexican States (ICSID Case No. ARB/25/30)	Mexico - United Kingdom BIT (2006)	ICSID	ICSID	Investment: Summary:		Pending	Mexico	United Kingdom	Primary: B - Mining and quarrying	7 - Mining of metal ores	Name not available - President Alexandrov, S. A. - Claimant Name not available - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
15	2025	ETA Star v. Angola	ETA Star International LLC v. Republic of Angola (ICSID Case No. ARB/25/21)	Angola - United Arab Emirates BIT (2017)	ICSID	ICSID	Investment: Summary:		Pending	Angola	United Arab Emirates	Tertiary: F - Construction Secondary: C - Manufacturing	42 - Civil engineering 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	Data not available	Data not available	Data not available	Data not available	Data not available
16	2025	FCC Construcción v. Panama	FCC Construcción, S.A. v. Republic of Panama (ICSID Case No. ARB/25/29)	Panama - Spain BIT (1997)	ICSID	ICSID	Investment: Summary:		Pending	Panama	Spain	Tertiary: F - Construction	42 - Civil engineering	Moura Vicente, D. - President Pierola Castro, N. F. - Claimant González García, L. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
17	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.	Pending	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	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
18	2025	First Quantum v. Panama	First Quantum Minerals, Ltd. v. Republic of Panama (ICSID Case No. ARB/25/18)	Canada - Panama BIT (1996)	ICSID	ICSID	Investment: Majority shareholding (90%) in Minera Panamá S.A., the operator of the Cobre Panamá copper mine. Summary: Claims arising out of a November 2023 ruling of the Supreme Court of Justice of Panama declaring unconstitutional Law 406, which had approved a revised concession contract for the Cobre Panamá mine, resulting in the suspension of operations at Cobre Panamá.	Majority shareholding (90%) in Minera Panamá S.A., the operator of the Cobre Panamá copper mine.	Pending	Panama	Canada	Primary: B - Mining and quarrying	7 - Mining of metal ores	Kaufmann-Kohler, G. - President Hanotiau, B. - Claimant Pinto, M. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
19	2025	Gestion Bayonne and 9048-4957 Québec v. Costa Rica	Gestion Bayonne Inc. and 9048-4957 Québec Inc. v. Republic of Costa Rica (ICSID Case No. ARB/25/33)	Canada - Costa Rica BIT (1998)	ICSID	ICSID	Investment: Investment in Empresas Berthier EBI de Costa Rica S.A. (EBI de Costa Rica), a local subsidiary of Canada-based EBI Environment. Summary: Claims arising out of local authorities’ alleged refusal to grant construction permits for landfills planned by EBI de Costa Rica, a waste management company in which the claimants have invested.	Investment in Empresas Berthier EBI de Costa Rica S.A. (EBI de Costa Rica), a local subsidiary of Canada-based EBI Environment.	Pending	Costa Rica	Canada	Tertiary: E - Water supply; sewerage, waste management and remediation activities	38 - Waste collection, treatment and disposal activities; materials recovery	Data not available	125.00 mln USD	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
20	2025	Gold Reserve v. Venezuela (II)	GR Mining (Barbados) Inc. v. Bolivarian Republic of Venezuela (II) (ICSID Case No. ARB(AF)/25/2)	Barbados - Venezuela, Bolivarian Republic of BIT (1994)	ICSID AF	ICSID	Investment: Exploration and exploitation rights for gold, copper and other minerals held by a mixed company (Empresa Mixta Ecosocialista Siembra Minera, S.A.), with a 45% shareholding by Gold Reserve (GR Mining’s holding company) and 55% by a state-owned company (Corporación Venezolana de Minería, S.A.). Summary: Claims arising out of the Government’s revocation of a joint company’s mining rights for the “Siembra Minera” project, in which the claimant held a minority stake, due to alleged lack of progress.	Exploration and exploitation rights for gold, copper and other minerals held by a mixed company (Empresa Mixta Ecosocialista Siembra Minera, S.A.), with a 45% shareholding by Gold Reserve (GR Mining’s holding company) and 55% by a state-owned company (Corporación Venezolana de Minería, S.A.).	Pending	Venezuela, Bolivarian Republic of	Barbados	Primary: B - Mining and quarrying	7 - Mining of metal ores	Name not available - President Haigh, D. - Claimant Viñuales, J. E. - Respondent	7000.00 mln USD	Data not available	Direct expropriation Indirect expropriation Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Full protection and security, or similar Most-favoured nation treatment	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
21	2025	HBH v. Algeria	Dirk Andres in his capacity as insolvency administrator regarding the assets of HBH v. People's Democratic Republic of Algeria (ICSID Case No. ARB/25/11)	Algeria - Germany BIT (1996)	ICSID	ICSID	Investment: Summary:		Pending	Algeria	Germany	Tertiary: F - Construction	42 - Civil engineering	Data not available	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
22	2025	Hernandez Contreras v. Costa Rica (III)	José Alejandro Hernández Contreras v. Republic of Costa Rica (III) (ICSID Case No. ARB(AF)/25/3)	Costa Rica - Venezuela, Bolivarian Republic of BIT (1997)	ICSID AF	ICSID	Investment: Majority shareholding in V-NET, a company holding a public contract for the distribution of telecommunication products. Summary: Claims arising out of the decision by the national electricity and telecommunications provider, Instituto Costarricense de Electricidad, not to renew a contract for the distribution of mobile phone products concluded with the claimant’s local telecommunications company, V-NET. According to the claimant, the contract was arbitrarily transferred to a competitor of V-NET.	Majority shareholding in V-NET, a company holding a public contract for the distribution of telecommunication products.	Pending	Costa Rica	Venezuela, Bolivarian Republic of	Tertiary: J - Information and communication	61 - Telecommunications	Riofrio Piché, M. - President Fernández Rozas, J. C. - Claimant González García, L. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
23	2025	Humans Mobile v. Uzbekistan	Humans Mobile Ltd. v. Republic of Uzbekistan (ICSID Case No. ARB/25/24)	Singapore - Uzbekistan BIT (2003)	ICSID	ICSID	Investment: Ownership of a local digital services company, Humans, providing virtual mobile communication and digital payment services. Summary: Claims arising out of alleged unlawful actions taken by the Central Bank of Uzbekistan and the state-owned telecommunications operator Uzbektelecom disrupting the operations of the claimant’s digital services company.	Ownership of a local digital services company, Humans, providing virtual mobile communication and digital payment services.	Pending	Uzbekistan	Singapore	Tertiary: K - Financial and insurance activities Tertiary: J - Information and communication	64 - Financial service activities, except insurance and pension funding 61 - Telecommunications	Name not available - President Hoffmann, A. K. - Claimant Viñuales, J. E. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
24	2025	Karapetyan v. France	Samvel Karapetyan v. French Republic (ICSID Case No. ARB/25/26)	Armenia - France BIT (1995)	ICSID	ICSID	Investment: Investments in real estate assets. Summary: Claims arising out of public authorities’ seizure of the claimant’s properties, including a villa on the Côte d’Azur, related to criminal investigations.	Investments in real estate assets.	Pending	France	Armenia	Tertiary: L - Real estate activities	68 - Real estate activities	Name not available - President Bull, C. - Claimant Malintoppi, L. - Respondent	Data not available	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available
25	2025	Khemisset. v. Morocco	Khemisset UK Limited and Potasse de Khemisset S.A. v. Kingdom of Morocco (ICSID Case No. ARB/25/22)	Morocco - United Kingdom BIT (1990)	ICSID	ICSID	Investment: Investments in the development of a potash mine, the Khemisset potash project, located in Northern Morocco. Summary: Claims arising out of Government authorities’ rejection of the environmental impact assessment and environmental licence for the development of the claimant’s Khemisset potash mining project.	Investments in the development of a potash mine, the Khemisset potash project, located in Northern Morocco.	Pending	Morocco	United Kingdom	Primary: B - Mining and quarrying	8 - Other mining and quarrying	Lévy, L. - President Alexandrov, S. A. - Claimant Douglas, Z. - Respondent	2200.00 mln USD	Data not available	Data not available	Pending	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available	Data not available

No results found

No.	Name	Cases as Respondent State	Cases as Home State of claimant
1	Albania	14	1
2	Algeria	14	2
3	Angola	2	0
4	Argentina	65	6
5	Armenia	7	1
6	Australia	6	14
7	Austria	1	32
8	Azerbaijan	7	1
9	Bahamas	0	2
10	Bahrain	4	1
11	Bangladesh	1	0
12	Barbados	1	8
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	79
28	Chile	8	10
29	China	9	20
30	Colombia	28	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	5	38
38	Czechia	43	8
39	Denmark	2	9
40	Dominican Republic	11	2
41	Ecuador	31	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	Guyana	1	0
60	Honduras	12	0
61	Hong Kong, China SAR	0	2
62	Hungary	18	4
63	India	30	12
64	Indonesia	7	1
65	Iran, Islamic Republic of	1	6
66	Iraq	6	0
67	Ireland	0	2
68	Israel	0	8
69	Italy	15	53
70	Jamaica	0	1
71	Japan	1	6
72	Jordan	10	9
73	Kazakhstan	21	7
74	Kenya	1	1
75	Korea, Republic of	10	9
76	Kuwait	7	9
77	Kyrgyzstan	18	1
78	Lao People's Democratic Republic	4	0
79	Latvia	10	5
80	Lebanon	6	6
81	Lesotho	2	0
82	Libya	23	2
83	Liechtenstein	0	1
84	Lithuania	8	8
85	Luxembourg	1	48
86	Macao, China SAR	0	1
87	Madagascar	4	0
88	Malaysia	4	10
89	Malta	1	5
90	Mauritius	4	17
91	Mexico	60	7
92	Moldova, Republic of	14	1
93	Mongolia	6	0
94	Montenegro	6	0
95	Morocco	10	0
96	Mozambique	5	0
97	Myanmar	3	0
98	Nepal	1	0
99	Netherlands	4	137
100	Nicaragua	3	0
101	Nigeria	5	0
102	North Macedonia	11	0
103	Norway	3	6
104	Oman	4	2
105	Pakistan	12	0
106	Panama	26	12
107	Papua New Guinea	1	0
108	Paraguay	4	0
109	Peru	36	5
110	Philippines	8	1
111	Poland	41	8
112	Portugal	1	10
113	Qatar	3	9
114	Romania	27	1
115	Russian Federation	34	28
116	Rwanda	2	0
117	Saudi Arabia	11	8
118	Senegal	7	0
119	Serbia	16	0
120	Seychelles	0	2
121	Sierra Leone	1	0
122	Singapore	0	15
123	Slovakia	14	1
124	Slovenia	6	3
125	South Africa	1	3
126	Spain	58	80
127	Sri Lanka	5	0
128	Sudan	2	0
129	Sweden	1	15
130	Switzerland	1	53
131	Syrian Arab Republic	2	0
132	Tajikistan	2	0
133	Tanzania, United Republic of	14	0
134	Thailand	2	0
135	Trinidad and Tobago	3	0
136	Tunisia	4	2
137	Türkiye	19	51
138	Turkmenistan	17	0
139	Uganda	1	0
140	Ukraine	35	19
141	United Arab Emirates	7	15
142	United Kingdom	1	124
143	United States of America	25	238
144	Uruguay	8	1
145	Uzbekistan	10	1
146	Venezuela, Bolivarian Republic of	66	4
147	Viet Nam	13	0
148	Yemen	3	0
149	Zimbabwe	3	0

No results found

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