Hostname: page-component-cd9895bd7-gvvz8 Total loading time: 0 Render date: 2024-12-27T21:25:56.091Z Has data issue: false hasContentIssue false

Goetz and Others v. Republic of Burundi

ICSID (Arbitration Tribunal).  10 February 1999 .

Published online by Cambridge University Press:  01 January 2021

Get access

Abstract

Jurisdiction — Based on bilateral investment treaty — No contractual relations between claimant investors and Respondent State — Consent to jurisdiction manifested by commencement of proceedings in accordance with treaty — No right of Respondent unilaterally to withdraw consent

Admissibility — Claimant’s standing to bring proceedings — Majority shareholders having foreign nationality suing in relation to conduct affecting locally incorporated company — Standing upheld

Expropriation — Measures equivalent to — Grant of free-zone status for mining company — Substantial investment in reliance on free-zone status — Subsequent change in government policy leading to revocation of status — Whether measure equivalent to taking — Whether compensation required — Belgium—Burundi Bilateral Investment Treaty, Article 4

Expropriation — Whether lawful under international law — Non-discriminatory — Valid public policy — Due process under national law — Only compensation lacking — No offer made at the time of taking — Respondent given four months to pay compensation or to restore permit, otherwise taking would be held internationally unlawful — Belgium—Burundi Bilateral Investment Treaty, Article 4

Arbitration — Procedure — Failure by Respondent State to appear — Obligation on tribunal to consider jurisdiction and merits of claim despite non-appearance — icsid Convention, Article 45 — Arbitration Rules, Rule 42

Settlement — Amicable settlement following determination on merits — Settlement agreement embodied in Award — Arbitration Rules, Rule 43(2) – Award of costs following settlement

Type
Case Report
Copyright
© Cambridge University Press 2004

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)