Magnifier Search

Wena Hotels v. Egypt

Type of decisionDecision on Annulment
Date of decision5 February 2002
Tribunal
Konstantinos D. Kerameus (President)
Andreas Bucher
Francisco Orrego Vicuña
Legal instrumentBIT between Egypt and United Kingdom (1975)
Related decision(s)
Further information

Statements from this decision

You are currently viewing the statements in their context. To view them in a list, click here.
International Investment Treaties (IITs)
Protection of Investors under IITs
Expropriation and Standards of Protection
Expropriation
Legality of an Expropriation
Compensation for expropriation must not be eroded by the passage of time or diminution in market value; thus interest has to be awarded
A tribunal can, as a matter of discretion, determine the calculation of interest
ICSID Convention
Arbitration (Articles 36-55)
Article 42
Article 42(1)
Article 42(1)(2) - "absence of such agreement"
The role of international law within the meaning of Article 42 ICSID Convention is determined according to the special circumstances of each case; the use of the word "may" confers a margin of appreciation upon the tribunal
Article 52
General Remarks
Annulment proceedings do not provide for an appeal and the grounds for annulment are interpreted neither narrowly nor extensively
Grounds for Annulment
Manifest Excess of Power
Requirements for an excess of power being manifest within the meaning of Article 52(1)(b) ICSID Convention
Serious Departure From a Rule of Procedure
Requirements for a departure from a fundamental rule of procedure to be considered serious
A fundamental rule of procedure within Article 52(1)(d) ICSID Convention is the right of each party to be heard before an independent and impartial tribunal
Failure to State Reasons
The requirement that an award state the reasons on which it is based is weakened when the parties confer a wide discretionary power to the tribunal
The ground for annulment under Article 52(1)(e) ICSID Convention includes the case where a tribunal failed to decide upon a question submitted to it to the extent such supplemental decision may affect the reasoning supporting the award
The requirement of an award stating the reasons on which it is based is fulfilled when the decision reveals the factual and legal premises leading the tribunal to its decision
Procedural Questions
The ICSID Convention does not preclude raising new arguments related to a ground of annulment within the time limit fixed in the Convention
ICSID Arbitration Rules
Rules 33-38 - Written and Oral Procedures
Rule 34
A tribunal has discretion to make its opinion about the relevance and evaluation of the elements of proof presented by each party
A tribunal is not obligated to call for evidence; rather, the tribunal has a discretionary power to call upon the parties to produce further evidence

Feedback

Above you will find 13 statement(s) from this decision. Please note that when viewing the statements in their context, the same statement may appear multiple times if it is relevant for more than one topic. Did we miss something? Feel free to send us your suggestions!