Ceskoslovenska Obchodni Banka, AS v. The Slovak Republic

Abstract

Interpretation — Terms of agreement providing for binding arbitration — Requirement of joint submission to arbitration contrary to objective of bilateral investment treaty — Construction incompatible with international rules for interpretation of this type of agreement — Concept of investment interpreted broadly — Slovak Republic has not made declaration limiting scope of icsid jurisdiction

Jurisdiction — Slovak Republic has not made declaration limiting scope of icsid jurisdiction — Consent of parties to icsid jurisdiction creates presumption that they considered transaction to be investment covered by icsid Convention

Municipal law — Question of consent to icsid jurisdiction not answered by reference to national law but by international law as expressed in Article 25(1) of icsid Convention

Parties — State parties distinguished from private parties — Determination of real party in interest — Effect of assignment of interest

Procedure — Effect of assignments on real party in interest — Determination of standing made by reference to date proceedings instituted — Absence of beneficial ownership by claimant or transfer of risk does not affect standing

Treaties — Entry into force of bilateral investment treaty — Provision for date of entry into force — Requirement of notice of completion of constitutional formalities — Provisions interpreted in light of principle of effectiveness — Effect of notice of entry into force published in Official Gazette — Effect of unilateral declaration to assume contractual obligation