The high water mark of an umbrella clause

Publication Type

Journal Article

Publication Date

6-2012

Abstract

In a recent award that arguably represents a high-water mark for the operation of an umbrella clause in ICSID jurisprudence thus far, a tribunal comprising Stanimir A. Alexandrov (as President), Donald Francis Donovan and Pablo Garcia Mexia held Paraguay liable to SGS Société Générale de Surveillance S.A. (“SGS”) for failing to pay for services rendered. This case is noteworthy for practitioners because it demonstrates how an investor can, in effect, have its claims arising out of an investment contract readily resolved before a treaty forum through the use of an umbrella clause in a bilateral investment treaty (“BIT”).

Discipline

Dispute Resolution and Arbitration

Publication

International Arbitration Law Review

Volume

15

Issue

3

First Page

21

Last Page

25

ISSN

1367-8272

Publisher

Sweet and Maxwell

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