IN THE MATTER OF AN ARBITRATION UNDER THE 1976 ARBITRATION RULES OF
THE UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW

- between -

UAB “GARSU PASAULIS”
(Lithuania)

(the “Claimant”)

- and -

THE KYRGYZ REPUBLIC

(the “Respondent”, and together with the Claimant, the “Parties”)

AWARD

Arbitral Tribunal
Prof. Dr. Kaj Hobér (Presiding Arbitrator)
Mr. Ian A. Laird
Prof. Nina Vilkova

Tribunal Secretary
Mr. Tim Robbins

Date of dispatch to the Parties: 8 April 2024

[Page 2]

TABLE OF CONTENTS

Page

I. THE PARTIES .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 6

(A) THE CLAIMANT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 6

(B) THE RESPONDENT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 6

II. THE TRIBUNAL AND TRIBUNAL SECRETARY................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 7

III. PROCEDURAL HISTORY................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 8

IV. FACTUAL BACKGROUND .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 18

V. RELIEF SOUGHT BY THE PARTIES .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 25

VI. JURISDICTION................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 27

(A) RESPONDENT'S FIRST OBJECTION: THE CLAIMANT'S CLAIMS DO NOT CONCERN ANY “INVESTMENT” MADE IN THE KYRGYZ REPUBLIC, THUS EXCLUDING THE TRIBUNAL'S JURISDICTION RATIONE MATERIAE................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 30

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 30

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 34

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 39

(B) RESPONDENT'S SECOND OBJECTION: THE CLAIMANT'S CLAIMS ARE INADMISSIBLE ON THE BASIS THAT THEY WERE SECURED IN THE KYRGYZ REPUBLIC THROUGH CORRUPTION .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 52

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 52

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 58

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 61

(C) SUMMARY OF THE TRIBUNAL'S FINDINGS ON JURISDICTION .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 67

VII. THE TRIBUNAL'S ANALYSIS AND DECISIONS ON THE MERITS................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 67

(A) WHETHER THE RESPONDENT VIOLATED ARTICLE 3 OF THE BIT .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 70

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 70

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 79

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 87

(B) WHETHER THE RESPONDENT BREACHED ARTICLE 4 OF THE BIT – EXPROPRIATION .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- .99

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 99

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 101

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 102

(C) CLAIMANT'S CLAIM FOR SPECIFIC PERFORMANCE................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 103

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 103

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 104

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- .105

(D) CLAIMANT'S CLAIMS ARISING FROM OTHER CANCELLED CONTRACTS................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 106

Claimant's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 106

Respondent's position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 108

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 110

VIII. QUANTUM .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 111

Claimant's Position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 112

(A) LOSSES ARISING FROM THE 2018 TENDER .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 112

(B) INTEREST................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 115

Respondent's Position .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 116

(A) LOSSES ARISING FROM THE 2018 TENDER .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 117

(B) INTEREST................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 120

Tribunal's decisions................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 121

(A) LOSSES ARISING FROM THE 2018 TENDER .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 121

2

[Page 3]

(B) INTEREST................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 124

IX. COSTS OF THE ARBITRATION .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 125

Applicable principles for the determination and allocation of legal fees and costs of the arbitration.........125

Tribunal's decisions on claims for legal fees and disbursements................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 128

Costs of the Arbitration .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 128

Interest on legal fees, disbursements and costs................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 129

Χ. AWARD .................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................- 130

3

[Page 4]

DRAMATIS PERSONAE

4

[Page 5]

5

[Page 6]

I. THE PARTIES

(A) The Claimant

1. The Claimant is UAB “Garsu Pasaulis” (“Garsu Pasaulis" or the "Claimant”), a company constituted and incorporated under the laws of the Republic of Lithuania.

2. The Claimant is represented in this arbitration by:

PLP Motieka & Audzevicius
Attn: Rimantas Daujotas / Denis Parchajev
Gyneju Street 4, Vilnius 01109
Lithuania

Email: [email protected] / [email protected]
Tel: +370 5 2 000 777 / +370 5 2 000 888

(B) The Respondent

3. The Respondent is the Kyrgyz Republic (the “Respondent").

4. The Respondent is represented in this arbitration by:

Willkie Farr & Gallagher LLP
Attn: Grégoire Bertrou / Sergey Alekhin / Dmitry Bayandin
21 boulevard Marlesherbes
75008 Paris
France

Email: [email protected] / [email protected] / [email protected]
Tel: +33 1 53 43 45 00

Center for Court Representation of the Cabinet of Ministry of Justice of the Kyrgyz Republic
Attn: Salavat Ashirbekov
59, Razzakova street
720040 Bishkek
The Kyrgyz Republic

Email: [email protected]

Mr. Nurbek Sabirov
Business center “Avrora”, 7th floor
1A, Igemberdieva street
720020 Bishkek

6

[Page 7]

The Kyrgyz Republic

Email: [email protected]

5. Throughout this Final Award, the Claimant and the Respondent, each a "Party" and jointly referred to as the “Parties”.

II. THE TRIBUNAL AND TRIBUNAL SECRETARY

6. The arbitrator appointed by Claimant is Mr. Ian A. Laird, whose contact details are as follows:

Mr. Ian A. Laird
Crowell & Moring LLP
1001 Pennsylvania Avenue, NW
Washington, DC 20004
United States

7. The arbitrator appointed on behalf of the Respondent is Prof. Nina Vilkova, whose contact details are as follows:

Prof. Nina Vilkova
Apt. 322. 34/a, Leninsky Prospect
Moscow, 119334
Russian Federation

Email: [email protected]

8. The Presiding Arbitrator, jointly appointed by the co-arbitrators, is Prof. Dr. Kaj Hobér, whose contact details are as follows:

Prof. Dr. Kaj Hobér
3 Verulam Buildings, Gray's Inn
London WC1R 5NT
United Kingdom

Email: [email protected]

9. Upon the proposal of the Tribunal, and agreement of the parties, Mr. Tim Robbins was appointed as Tribunal Secretary for this matter on 16 February 2023. Mr. Robbins'

7

[Page 8]

contact details are as follows:¹

Tim Robbins
Jan Pieterszoon Coenstraat 7
The Hague, 2595 WP, The Netherlands

E-mail: [email protected]

III. PROCEDURAL HISTORY

10. According to the Claimant, a dispute has arisen between the Parties under the Agreement Between the Government of the Republic of Lithuania and the Government of the Kyrgyz Republic on the Promotion and Protection of the Investments of 15 June 2008 (the “BIT”). By Notice of Arbitration dated 10 February 2020 (the “Notice”), the Claimant commenced arbitration proceedings against the Respondent pursuant to Article 8 of the BIT.

11. In the Notice, the Claimant noted that the Parties had not previously designated an appointing authority and proposed, pursuant to Articles 3(4)(a) and 6(1) of the 1976 Arbitration Rules of the United Nations Commission on International Trade Law (“UNCITRAL Rules”), that the Secretary-General of the Permanent Court of Arbitration at The Hague (the “PCA”) be designated as the appointing authority for the arbitration. The Claimant also noted that the Parties had not agreed upon a seat of the arbitration, and proposed The Hague, The Netherlands, as the seat of the arbitration, and that the language of the arbitration be English.

12. On 2 June 2020, the Respondent responded to the Notice stating, inter alia, that no agreement was concluded between the Claimant and the State Registration Service under the Government of the Kyrgyz Republic (the “SRS”), and that the Claimant did not make any investments in the Kyrgyz Republic.

13. On 16 June 2020, the Claimant gave notice of its appointment of Mr. Ian A. Laird as its party-appointed arbitrator pursuant Articles 5 and 7 of the UNCITRAL Arbitration Rules.

¹ The Tribunal Secretary originally appointed for this matter was Mr. Joel Dahlquist. On 6 February 2023, the Tribunal informed the Parties that Mr. Dahlquist was changing his employer and would no longer be able to serve as Tribunal Secretary. ↩

8

[Page 9]

14. On 29 July 2020, the Claimant filed a request for designation of an appointing authority to the PCA for the designation of the second arbitrator, proposing that the Secretary General of the PCA be designated as the appointing authority in this arbitration.

15. On 30 July 2020, the PCA invited the Respondent's comments on the Claimant's proposal by 10 August 2020. The Respondent did not provide any comments within the time limit granted.

16. On 18 August 2020, pursuant to Article 8 of the BIT and Article 7(2)(b) of the UNCITRAL Rules, the Secretary General of the PCA designated Judge Geert J. M. Corstens as appointing authority for this arbitration (the “Appointing Authority”).

17. On 19 August 2020, on behalf of the Appointing Authority, the PCA sought additional comments from the Parties by 31 August 2020 on the Claimant's request for the appointment of a second arbitrator.

18. The Claimant provided its comments on 26 August 2020 on the request for an appointment of a second arbitrator.

19. On 28 August 2020, the Respondent wrote to the Appointing Authority to, inter alia, raise jurisdictional objections with regard to the Claimant's claims, and to state that it is not possible to appoint a second arbitrator on behalf of the Kyrgyz Republic at this time.

20. On 31 August 2020, on behalf of the Appointing Authority, the PCA acknowledged receipt of the Parties' respective correspondence, and invited further comments from the Claimant by 7 September 2020 and from Respondent by 14 September 2020.

21. The Claimant provided its further comments on 7 September 2020, reiterating its request for the appointment of the second arbitrator, and the Respondent filed its further comments on 14 September 2020 reiterating its position from its correspondence dated 28 August 2020.

22. The Claimant followed up on 15 September 2020, noting that as the Respondent has failed to provide any arguments or comments in respect of the Claimant's request to appoint a second arbitrator, the Claimant insisted that the Appointing Authority proceed with the appointment of a second arbitrator on behalf of the Respondent.

9

[Page 10]

23. On 16 September 2020, the Respondent wrote to the Secretary General of the PCA with further details in support of its jurisdictional objections, requesting that the Secretary General issue a decision finding that the arbitral tribunal does not have jurisdiction to consider this matter.

24. By letter dated 25 September 2020, the PCA informed the Parties that the role of the Secretary General is limited to the functions described in the UNCITRAL Rules, and that objections to jurisdiction are to be decided by the arbitral tribunal, once constituted, in accordance with Article 21 of the UNCITRAL Rules.

25. On 28 September 2020, the PCA wrote to the Parties on behalf of the Appointing Authority to inform them that, inter alia, the Appointing Authority considers that he is competent to proceed with the Claimant's request that he appoint a second arbitrator in this matter, and will do so in due course.

26. On 29 September 2020, the Respondent wrote to the Appointing Authority stating that it appoints Prof. Nina Vilkova as its party-appointed arbitrator.

27. On 1 October 2020, on behalf of the Appointing Authority, the PCA invited the Claimant's comments on the Respondent's correspondence of 29 September 2020.

28. On 5 October 2020, the Claimant stated that it did not object to the appointment of Prof. Nina Vilkova as second arbitrator, subject to confirmation of her independence and impartiality.

29. On 6 October 2020, on behalf of the Appointing Authority, the PCA informed the parties that the Appointing Authority had invited the PCA to contact Prof. Vilkova in order to ascertain her independence and impartiality.

30. On 12 October 2020, the PCA provided a declaration of impartiality and independence from Prof. Vilkova.

31. On 14 October 2020, the Respondent wrote to the co-arbitrators to request that they appoint a presiding arbitrator with knowledge of Russian, and to select Russian as the language of the arbitration.

32. On 22 October 2020, the party-appointed arbitrators wrote to the Parties regarding the procedure for appointment of the President of the Tribunal by 2 November 2020.

10

[Page 11]

33. On 23 October 2020, the Claimant provided its comments on the proposed procedure, but no response was received from the Respondent within the time limit granted.

34. On 6 November 2020, the party-appointed arbitrators informed the Parties that they would proceed in accordance with Article 7(3) of the UNCITRAL Rules to agree on the choice of the Presiding of the Tribunal.

35. On 10 November 2020, the party-appointed arbitrators informed the Parties that they agreed to the appointment of Prof. Dr. Kaj Hobér as President of the Tribunal.

36. On 3 December 2020, the Tribunal wrote to the parties to circulate draft Procedural Order No. 1, and to propose that Mr. Joel Dahlquist be appointed as tribunal secretary.

37. On 3 December 2020, the Respondent filed a letter dated 24 November 2020 in which it requested that Mr. Laird disclose any circumstances which may give rise to justifiable doubts regarding his impartiality or independence in the matter. On even date, Mr. Laird provided a declaration of his impartiality and independence.

38. On 24 December 2020, the Respondent submitted its comments on draft Procedural Order No. 1 including, inter alia, proposing that the language of the arbitration is Russian and that Moscow, Russia be the seat of arbitration. The Respondent had no objection to the appointment of Mr. Dahlquist as tribunal secretary, although it invited the PCA to appoint a tribunal secretary with Russian language skills.

39. Subsequently on 24 December 2020, the Claimant filed its comments on draft Procedural Order No. 1 including, inter alia, its proposal that the language of the arbitration be English and that The Hague, The Netherlands be the seat of arbitration. The Claimant had no objection to the appointment of Mr. Dahlquist as tribunal secretary.

40. On 4 January 2021, the Tribunal wrote to the Parties to propose dates for the case management conference.

41. On 6 January 2021, the Respondent wrote to the Tribunal to reiterate its position that the language of the arbitration should be Russian.

42. On 7 January 2021, the Tribunal confirmed that the language of the case management conference on 25 February 2021 would be held for practical purposes in English, but that

11

[Page 12]

this does not pre-judge the Tribunal's decision that may need to be taken concerning the language of the arbitration.

43. On 2 February 2021, the Tribunal circulated an updated draft Procedural Order No. 1 for discussion at the case management conference and invited the Parties to reach agreement on certain items in advance.

44. The Respondent provided further comments on the draft Procedural Order No. 1 on 16 and 22 February 2021, and the Claimant provided further comments on 23 February 2021.

45. A case management conference was held on 25 February 2021. On 5 March 2021, taking into account the Parties' submissions in writing and at the conference, the Tribunal issued Procedural Order No. 1 dated 5 March 2021 (“PO1”), which incorporated its decisions that the seat of the arbitration is Stockholm, Sweden, and the language of the arbitration is English.

46. By letter dated 8 March 2021, the PCA (as fundholder) requested that the Parties pay an initial deposit of €450,000 (€225,000 from each Party) to cover the Tribunal's fees and expenses by 19 March 2021.

47. The PCA confirmed receipt of the Claimant's share of the initial deposits of €225,000 on 18 March 2021, while no payment was received from the Respondent within the time limit granted.

48. On 1 April 2021, the Tribunal invited the Claimant to pay the Respondent's share of the deposits pursuant to Section 18.3 of PO1. The PCA confirmed receipt of the Claimant's payment for the Respondent's share of the initial deposits of €225,000 on 8 April 2021.

49. On 16 April 2021, the Claimant filed a Request to Issue a Separate Award on Costs (“Interim Costs Application”), requesting an order that the Respondent reimburse the Claimant for the Respondent's share of the initial deposits of €225,000.

50. On 7 May 2021, the Respondent filed its objection to the Interim Costs Application dated 6 May 2021. The Claimant filed further comments on the Interim Costs Award on 24 May 2021, followed by further comments from the Respondent on 7 June 2021.

51. The Tribunal issued Procedural Order No. 2 on 29 June 2021 (“PO2”), in which the Tribunal granted the Interim Costs Application, ordering that: (i) the Respondent shall pay

12

[Page 13]

€225,000 to the Claimant; (ii) the Respondent shall pay to the Claimant interest on the amounts unpaid at the US prime rate plus 2% from 8 April 2021 until full payment is made; and (iii) the allocation of costs related to the Interim Costs Application is deferred to a later stage of the proceedings.

52. On 31 August 2021, the Claimant filed its Statement of Claim (“Statement of Claim”), along with supporting exhibits and legal authorities, and the following witness statements and expert reports:

(i) Witness Statement of [Redacted] dated 28 June 2021;

(ii) Witness Statement of [Redacted] dated 2 July 2021;

(iii) Witness Statement of [Redacted] dated 23 August 2021;

(iv) Expert Report of Dr. Crina Baltag dated 25 August 2021;

(v) Expert Report of Professor Natalia Alenkina dated 12 August 2021; and

(vi) Expert Report of Dr. Jurgita Banyte dated 23 August 2021.

53. On 24 September 2021, Willkie Farr & Gallagher LLP appeared as counsel for the Respondent.

54. On 16 February 2022, the Respondent informed the Tribunal that the Parties had agreed to an 11-day extension for filing of the Respondent's Statement of Defence.

55. On 12 March 2022, the Respondent filed its Statement of Defence ("Statement of Defence"), along with supporting exhibits and legal authorities, as well as the following expert reports:

(i) Expert Report of Judge Madina Davletbayeva dated 11 March 2022; and

(ii) Expert Report of Ms. Anastasia Malyugina of the Berkely Research Group dated 11 March 2022.

56. On 31 May 2022, the Parties filed their respective Requests for Document Production to the Tribunal.

57. On 30 June 2022, the Tribunal issued Procedural Order No. 3 (“PO3”) with its decisions on the Parties' Requests for Document Production. The Claimant wrote to the Tribunal on

13

[Page 14]

31 July 2022 alleging that the Respondent had refused to comply with most of the documents it was ordered to produce pursuant to PO3.

58. On 31 July 2022, the Respondent wrote to the Tribunal to deny the Claimant's allegation, and alleged that it was the Claimant that had failed to comply with PO3.

59. On 9 August 2022, Willkie Farr & Gallagher informed the Tribunal that they had suspended their representation of the Respondent in this matter. They requested that all future correspondence be directed to the Respondent's representatives at the Center for Court Representation under the Minister of Justice of the Kyrgyz Republic, keeping Willkie Farr & Gallagher in copy.

60. On 7 September 2022, Willkie Farr & Gallagher informed the Tribunal that they had resumed representation of the Respondent, which was confirmed by the Center for Court Representation.

61. On 21 October 2022, the Claimant informed the Tribunal that the Parties had agreed that in the event that none of the Tribunal members are limited in their ability to travel to the European Union, that Stockholm should be the hearing venue. In the event any members of the Tribunal would be subject to travel restrictions, the Parties suggested Istanbul as the hearing venue.

62. On 25 October 2022, the President of the Tribunal wrote to the Parties to inform them that he is serving as co-arbitrator in an unrelated matter in which the president of the tribunal, Mr. Ramūnas Audzevičius, is a partner at the same law firm as counsel for the Claimant. While none of the Tribunal members viewed the development as compromising the President's ability to hear and decide the present dispute independently and impartiality, the President informed the Parties in the spirit of transparency.

63. On 31 October 2022, the Claimant filed its Statement of Reply (“Reply”), along with supporting exhibits and legal authorities, and the following witness statements and expert reports:

(i) Second Witness Statement of [Redacted] dated 28 October 2022;

(ii) Second Witness Statement of [Redacted] dated 28 October 2022;

14

[Page 15]

(iii) Second Expert Report of Professor Natalia Alenkina dated 30 October 2022; and

(iv) Second Expert Report of Dr. Jurgita Banyte dated 21 October 2022.

64. On 3 November 2022, the Respondent wrote to the Tribunal with regard to the President's disclosure made on 25 October 2022. The Respondent took note of and accepted the President's statement, but to avoid any risk of conflict of interest and to preserve the integrity of these proceedings, the Respondent requested that a written statement be obtained from Mr. Audzevičius that to date he has not had any involvement in the present arbitration proceedings, as well as an undertaking that he will not have any such involvement in the future. On 10 November 2022, the Tribunal circulated a written statement from Mr. Audzevičius dated 9 November 2022 to that effect.

65. On 25 November 2022, following consultation with the Parties, the Tribunal amended the dates of the hearing to 12 – 16 June 2022.

66. On 28 December 2022, the Parties informed the Tribunal that they had agreed to a two-week extension for the Rejoinder Memorial to be filed by 14 February 2023. Further extensions were agreed by the Parties until 17 February 2023, and subsequently until 19 February 2023.

67. On 3 January 2022, the Tribunal informed the Parties that the hearing shall take place in Stockholm, Sweden.

68. On 6 February 2023, the Tribunal informed the Parties that the Tribunal Secretary, Mr. Joel Dahlquist, would be changing employment as of 20 February 2023 and, as a result, would no longer be able to act as Tribunal Secretary in the present matter. The Tribunal proposed that Mr. Dahlquist be replaced by Mr. Tim Robbins as Tribunal Secretary.

69. On 6 and 14 February 2023, the Claimant and the Respondent, respectively, confirmed that they did not object to Mr. Robbins' appointment, whose appointment the Tribunal confirmed on 16 February 2023.

70. On 19 February 2023, the Respondent filed its Rejoinder Memorial, along with supporting exhibits and legal authorities, and the following expert reports:

15

[Page 16]

(i) Second Expert Report of Judge Madina Davletbayeva dated 17 February 2023; and

(ii) Second Expert Report of Ms. Anastasia Malyugina of the Berkely Research Group dated 16 February 2023.

71. Following consultation between the Parties, on 7 March 2023 the Respondent filed an amended Rejoinder Memorial (“Rejoinder”) with agreed non-substantive edits to the submissions and certain exhibits and legal authorities.

72. On 31 March 2023, the Parties notified each other of the witnesses and experts that they intend to cross-examine at the hearing.

73. On 12 April 2023, the Tribunal circulated a draft Procedural Order No. 4 regarding further directions for the hearing, and invited the Parties to consult on the draft and revert to the Tribunal. On 21 April 2023, the Parties provided their agreed edits to the proposed hearing directions. On even date, the Tribunal issued Procedural Order No. 4 (“PO4").

74. On 27 April, 10 and 23 May 2023, the Claimant provided updates to the Tribunal with regard to the ability of certain of its witnesses and experts to obtain visas to attend the hearing in person.

75. On 26 April 2023, the PCA invited the parties to transfer supplementary deposits in the amount of €150,000 (i.e. €75,000 from each party). The PCA acknowledge receipt of payment of €75,000 from the Claimant by letter dated 16 May 2023.

76. On 26 May 2023, the Respondent informed the Tribunal that it would not be paying for its share of the supplementary deposits on the basis of, inter alia, that the Respondent has a history of foreign investors failing to satisfy costs awards made against them.

77. On 31 May 2023, the PCA invited the Claimant to make the requested payment on behalf of the Respondent. On 2 June 2023, the PCA acknowledged receipt of the second half of the supplementary deposit of €75,000 from the Claimant.

78. On 29 May 2023, the Parties circulated their respective list of participants for the hearing. The Claimant circulated the e-hearing bundles on 30 May 2023, with a consolidated index for the bundles uploaded on 2 June 2023.

16

[Page 17]

79. The evidentiary hearing took place in Stockholm, Sweden, from 12 to 15 June 2023. In addition to the Tribunal and the Tribunal Secretary, the following individuals were present on behalf of each Party:

(i) Claimant:

a. Witnesses: [Redacted] attended remotely);

b. Experts: Ms. Jurgita Banytė and Ms. Natalia Alenkina; and

c. Legal Counsel: Mr. Rimantas Daujotas, Mr. Denis Parchajev, Mr. Dmitrij Mačiugin and Mr. Saulius Kleveckas (all of Motieka and Audzevičius, PLP).

(ii) Respondent:

a. Representatives: H.E. Aiaz Baetov (Minister of Justice of the Kyrgyz Republic), and Mr. Kanybek Koshokov;

b. Experts: Ms. Anastasia Malyugina and Ms. Madina Davletbaeva; and

c. Legal Counsel: Mr. Grégoire Bertrou, Mr. Sergey Alekhin, Mr. Dmitry Bayandin, Ms. Alexandra Koliakou, Mr. Alexander Mironov (all of Willkie Farr & Gallagher LLP), and Mr. Nurbek Sabirov (Mr. Sabirov attended remotely).

80. The following documents were filed during the course of the evidentiary hearing: (a) Respondent's additional legal authority [RLA-221]; (b) Claimant's additional translations of exhibits [R-109], [R-110], [R-117], [R-118] and [R-135]; and (c) the Parties' respective opening statements (“Claimant's Opening Statement" and “Respondent's Opening Statement"); and (d) Respondent's written answer to Mr. Laird's question to the Respondent at the end of its opening statement.

81. As directed by the Tribunal at the conclusion of the hearing, the Parties informed the Tribunal on 20 June 2023 of an agreed procedure for post-hearing and costs submissions.

17

[Page 18]

82. On 6 July 2023, the Respondent submitted the finalized hearing transcripts, as agreed by the Parties.²

83. On 9 August 2023, the Parties filed their respective post-hearing submissions ("Claimant's Post-Hearing Submissions” and “Respondent's Post-Hearing Submissions").

84. On 18 August 2023, the Claimant filed its submissions on costs (“Claimant's Costs Submissions").

85. On 19 August 2023, the Respondent objected to the Claimant filing its submissions on costs, on the basis that the Tribunal had reserved the opportunity to revert to the Parties if a further round of submissions was deemed necessary. The Claimant responded on 20 August 2023, rejecting the Respondent's position and proposing procedural directions.

86. On 23 August 2023, the Tribunal wrote to the Parties to: (i) inform the Parties that the Tribunal had no questions for the Parties at this time; (ii) invite the Respondent to comment on the new wording introduced to the Claimant's relief at paragraph 235(e) of the Claimant's Post-Hearing Submissions; and (iii) issue directions for costs submissions.

87. On 1 September 2023, the Respondent provided its comments on the new wording introduced to the Claimant's relief at paragraph 235(e) of the Claimant's Post-Hearing Submissions, as well as filed its costs submission (“Respondent's Costs Submissions”).

88. On 8 September 2023, the Parties filed their respective comments on the other side's costs submissions (“Claimant's Comments on Costs” and “Respondent's Comments on Costs").

89. On 8 March 2024, the Tribunal closed the proceedings pursuant to Article 29 of the UNCITRAL Rules.

IV. FACTUAL BACKGROUND

90. Before considering the Claimant's case, it is helpful to set out a brief summary of the factual background. Although it has reviewed in detail all of the Parties' factual allegations and the evidence that has been submitted in support of them, the Tribunal has only undertaken in this section to provide a summary of relevant facts to provide an

² References to the transcript shall be made in the following format: Transcript Day [X], [page:line]-[page:line]. ↩

18

[Page 19]

introduction to the dispute, and in order to provide context for the claims. The Parties' respective positions vary substantially with regard to particular aspects of the facts relevant to the dispute, which will explored and set out in more detail in the course of the summaries of the Parties' submissions and the Tribunal's analysis in Section VI and VII below.

Garsu Pasaulis

91. The Claimant is a Lithuanian company engaged in security printing, including the production of anti-counterfeit documents such as biometric passports (or e-passports), identity cards and tax stamps, as well as the implementation and maintenance of related IT systems. The Claimant has been in operation since 1994.³

92. According to the Claimant, it was first approached by representatives of the Kyrgyz Republic government in 2011 with regard to modernization efforts for the production of passports, ID cards and related citizen identification systems in the Kyrgyz Republic.⁴

93. In 2014, the Claimant was acquired by a [Redacted], which similarly is involved in providing services relating to passports and national identification cards.⁵

Prior Tenders

94. On 11 July 2012, the Kyrgyz State Registration Service (“SRS”) announced a tender for manufacturing of blank e-passports and ID cards, and the setting up of a centralized population register in the Kyrgyz Republic (the “2012 Tender”). ⁶ The Claimant participated in the 2012 Tender, however the tender was cancelled shortly after announcement.⁷

95. In October 2012, the Kyrgyz State Tax Inspectorate (“STI”) announced a tender of exercise stamps to be used for alcohol and tobacco products sold in the Kyrgyz Republic. The Claimant won the tender in early 2013, and signed a four-year contract with the STI.

³ Statement of Claim at paras. 35-38. ↩
⁴ Statement of Claim at paras. 63-64; [Redacted] Witness Statement at para. 25; [Redacted] Witness Statement at para. 19. ↩
⁵ Statement of Claim at para. 42. ↩
⁶ Exhibit C-005; Statement of Defense at para. 49; Statement of Claim at para. 71. ↩
⁷ Statement of Claim at para. 78-80. ↩

19

[Page 20]

The Claimant won a further tender in February 2016 for a five-year exercise stamp supply contract with STI, which expired on 5 February 2021. A subsequent tender was announced in September 2020, but was cancelled in December 2020. Although the tender was relaunched in January 2021, the date for bid submissions was delayed until August 2021. In September 2021, the Kyrgyz Government decided to reclassify exercise stamps, following which they could only be produced domestically by Kyrgyz companies pursuant to Kyrgyz law.⁸ During the course of, and for the purposes of carrying out, the excise stamp contracts, in 2016 the Claimant had established a local company in the Kyrgyz Republic, Garsu Pasaulis LLC.⁹

The 2018 Tender

96. A commission was formed on 3 October 2018 which would be responsible for the preparation and oversight of a new tender for the manufacturing of blank e-passports and supporting IT infrastructure (the “Tender Commission”). The Tender Commission was composed of officers of the Kyrgyz Republic from various authorities, including the Ministry of the Interior, the Ministry of Foreign Affairs, the State Border Service and SRS.¹⁰

97. On 23 October 2018, the SRS announced the tender for manufacturing of blank e-passports and supporting IT infrastructure (the “2018 Tender”).¹¹ By 19 November 2018, five bidders had submitted bids for the 2018 Tender, including the Claimant's bid dated 19 November 2018 (“2018 Tender Bid”). ¹² The other bids were submitted by the following four entities: Mühlbauer ID Services GmbH (“Mühlbauer”); Veridos GmbH (“Veridos"); IDEMIA France SAS (“IDEMIA”); and the Republican state enterprise under the right of economic management “Banknote Factory of the National Bank of the Republic of Kazakhstan” (“Banknote Factory NBRK”).¹³

98. During a Tender Commission meeting held on 21 November 2018, a working group was created which would be responsible for examining the bids' compliance with technical

⁸ Statement of Claim at paras. 89-108; Statement of Defense at paras. 24-25. ↩
⁹ Statement of Claim at para. 95; CWS [Redacted] 1-11. ↩
¹⁰ Exhibit C-066; Reply at paras. 23-24. ↩
¹¹ Exhibit CWs [Redacted] 1/13; Statement of Defense at para. 20. ↩
¹² Exhibit C-008; Statement of Claim at paras. 111-115; Statement of Defence at para. 50. ↩
¹³ Statement of Claim at para. 116; Statement of Defence at para. 52. ↩

20

[Page 21]

requirements under the 2018 Tender (“Tender Working Group”).¹⁴ On 17 December 2018, following internal consultation with other government entities, the Tender Commission decided to request clarification from the bidders concerning the qualifications requirements following which the bidders accepted the General and Special Terms and Conditions of the e-passports contract.¹⁵

99. In a meeting held on 20 December 2018, the Tender Commission decided to reject the bids of Mühlbauer, Veridos and Banknote Factory NBRK on the basis of shortcomings in their bids, and decided to admit the Claimant and IDEMIA to the next assessment stage with the Tender Working Group. ¹⁶ The technical evaluation of the Claimant's and IDEMIA's bids was carried out by the Tender Working Group in December 2018 and January 2019.¹⁷

100. The results of the 2018 Tender were published on the Kazak government's E-procurement platform on 1 February 2019. The Tender Commission announced that it had found various shortcomings in the bids of Mühlbauer, Veridos and the Banknote Factory NBRK, disqualifying them from the 2018 Tender. Of the two remaining bidders, the Claimant's price offer was slightly lower than that of IDEMIA, and therefore the Claimant was selected as the winner of the 2018 Bid.¹⁸ Claimant received a notification email from Tender Commission's public procurement portal informing it that that it had officially won the 2018 Bid.¹⁹ According to the Claimant, it was at this point that a negative media campaign was commenced against the Claimant.²⁰ Correspondence was exchanged during the period of 1 to 21 February 2019 between SRS and its related agencies and the Claimant regarding the e-passport contract, including exchanges of drafts, technical requirements, annexes, and discussion of logistics for signing.²¹

101. On 5 and 7 February 2019, respectively, Mühlbauer and IDEMIA filed complaints with the Independent Interdepartmental Commission (“IIC”) raising issues in relation to the

¹⁴ Exhibit C-067; Reply at paras. 27-28. ↩
¹⁵ Exhibit C-067; Exhibit C-069; Exhibit C-070; Reply at para. 29-30, 49-50. The facts leading up to the 17 December 2018 correspondence are disputed between the Parties: see Reply at paras. 29-30, 42-55; Rejoinder at paras. 26-35. ↩
¹⁶ Exhibit C-067; Reply at paras. 31-32. ↩
¹⁷ Reply at paras. 58-62. ↩
¹⁸ Exhibit C-005; Statement of Claim at paras. 121-122; Statement of Defense at para. 54-55. ↩
¹⁹ Exhibit C077. ↩
²⁰ Statement of Claim at paras. 124, 127-128; CWS [Redacted] 1-22; Reply at para. 135-137. ↩
²¹ Reply at paras. 88-108; 118-122. ↩

21

[Page 22]

conduct of the 2018 Tender and its selection of the Claimant as the winner (the “Mühlbauer Complaint” and the “IDEMIA Complaint”).²² Following receipt of the Mühlbauer Complaint and the IDEMIA Complaint, the Department of Public Procurement suspended the 2018 Tender, of which all five bidders were informed of on 11 February 2019.²³ The bidders were requested to extend the validity of their bids by 45 days, which the Claimant did by reply letter dated 12 February 2019.²⁴

102. On 14 February 2019, the Claimant held a press-conference in Bishkek to address recent media reports relating to the Claimant's selection as winner of the 2018 Tender.²⁵

103. Following a review by the IIC, the IDEMIA Complaint was dismissed on 19 February 2019, and the Mühlbauer Complaint was partially dismissed on 21 February 2019.²⁶

104. Following other alleged complaints filed by and on behalf of Mühlbauer and IDEMIA to various Kazakh Government entities, on 22 February 2019 the Kyrgyz Prosecutor General's Office registered these complains as a possible episode of corruption in the Unified Registry of Crimes and Misdemeanors (“2018 Tender Investigation”).²⁷ On 25 February 2019, the Main Office of Criminal Investigations at the State Committee for National Security of the Kyrgyz Republic (“GKNB”) assigned a team of investigators to the case. ²⁸

105. According to the Respondent, all five bids for the 2018 Tender, which had been in mid-February 2019 due to the suspension, expired on 2 April 2019. No contract with regard to the services bid for under the 2018 Tender was concluded between the Claimant and SRS prior to that date. ²⁹

²² Statement of Claim at paras. 125-126; Statement of Defense at para. 56. ↩
²³ Exhibit R-36; Statement of Defense at para. 57 ↩
²⁴ Exhibit R-37; Statement of Defense at para. 57; Reply at para. 114. ↩
²⁵ Statement of Defense at para. 63. ↩
²⁶ CWS [Redacted] 1/23 and 1/24; Statement of Claim at para. 133; Statement of Defense at paras. 59-60. ↩
²⁷ Exhibit R-51; Statement of Defense at paras. 69-70. ↩
²⁸ Exhibit R-52; Statement of Defense at para. 71. ↩
²⁹ Statement of Defense at para. 76. The expiration of the 2018 Tender is disputed by the Claimant: see Reply at paras. 189-190. ↩

22

[Page 23]

106. On 4 February 2020, following completion of the administrative court proceedings discussed below, the SRS issued an order which allegedly formally recognized that the 2018 Tender had failed due to the expiration of the bids (“SRS Order").³⁰

Administrative court proceedings concerning the 2018 Tender

107. Mühlbauer initiated administrative court proceedings on 1 April 2019 against the SRS, the Department of Public Procurement, and the IIC, seeking to cancel: (i) the 1 February 2019 decision to award the Claimant the 2018 Tender; and (ii) the 21 February 2019 decision of the IIC dismissing the Mühlbauer Complaint. Mühlbauer also filed an injunction application preventing the SRS and Claimant from carrying out any actions concerning the conclusion of the e-passport printing contract.³¹

108. On 9 April 2019, the Inter-district Court of Bishkek summoned the Claimant as a third party to the proceedings and granted, ex parte, Mühlbauer's application for an injunction.³² On 29 May 2019, following a hearing, the Inter-district Court of Bishkek fully upheld Mühlbauer's two claims (“Bishkek First Instance Ruling”).³³ Following an appeal by the Claimant, the Bishkek City Court overturned the Bishkek First Instance Ruling on 10 September 2019 (“Bishkek City Court Ruling”).³⁴ Upon further appeal, on 25 November 2019, the Kyrgyz Supreme Court quashed the Bishkek City Court Ruling and reinstated the Bishkek First Instance Ruling upholding Mühlbauer's claims (“Kyrgyz Supreme Court Ruling").³⁵

2018 Tender Investigation

109. The 2018 Tender Investigation took place during the course of 2019, during which period the GKNB conducted various interviews in relation to the 2018 Tender Investigation, including [Redacted] ³⁶ The Claimant was also invited by the GKNB in April 2019 for its representatives to attend for

³⁰ Exhibit C-049; Statement of Defense at para. 99. ↩
³¹ Exhibit R-79. ↩
³² Exhibit R-81. ↩
³³ Exhibit C-050. ↩
³⁴ Exhibit C-051. ↩
³⁵ C-052; Statement of Claim at para. 222; Statement of Defense at para. 97. ↩
³⁶ Statement of Claim at paras. 154; Statement of Defense at para. 72. ↩

23

[Page 24]

questioning, during which the Respondent declined the Claimant's request to response to queries in writing.³⁷ The Parties' accounts of the conduct 2018 Tender Investigation vary substantially, and will be discussed in greater detail in sections VI and VII below. The 2018 Tender Investigation led to the issuing of the Sentencing Decision of the Pervomaiskiy district court in case no. Case No. УД-1244/19.53 dated 26 December 2019 (“Sentencing Decision”), and which gave rise to the following:³⁸

(i) Mr. Talant Abdullayev plead guilty to a charge of corruption. Mr. Abdullayev was the Director of Infocom State Enterprise, a State-owned IT Integrator involved in the 2018 Tender;

(ii) Mr. Daniyar Bakchiev plead guilty to a charge of assisting with corruption. Mr. Bakchiev was the State Secretary of the SRS, who supervised the Department of Public Relations at SRS; and

(iii) Mr. Ruslanbek Sarybaev plead guilty to a charge of corruption. Mr. Sarybaev was the Deputy Chairman of the SRS and the Chairman of the Tender Commission in the 2018 Tender.

Events following the alleged failure of the 2018 Tender

110. On 24 April 2019, a speech was given by Mr. Idris Kadyrkulov, the Head of the GKNB, at a public hearing of the Kyrgyz Parliament regarding the 2018 Tender. The Claimant submits that during this speech, Mr. Kadyrkulov spoke unfavorably about the Claimant without valid reason.³⁹

111. In July 2019, the SRS signed a short-term contract for manufacturing of 500,000 passports with De la Rue PLC, a British company. ⁴⁰

112. The SRS announced a new public tender for manufacturing of passports in late February 2020 (the "2020 Tender”). Three companies submitted bids for the 2020 Tender, including Mühlbauer which was selected as the winner of the tender in late May 2020.⁴¹ The Claimant did not participate in the 2020 Tender due to heightened experience

³⁷ Rejoinder at para. 63.2. ↩
³⁸ Exhibit R-63, Sentencing Decision; Statement of Defense at para. 80. ↩
³⁹ C-039; Statement of Claim at para. 165. ↩
⁴⁰ Statement of Defense at para. 105. ↩
⁴¹ Statement of Defense at para. 106. ↩

24

[Page 25]

requirements, which the Claimant alleges were “designed to exclude Claimant and award it to Mühlbauer."⁴²

113. As a result of the alleged media campaign by the Respondent against the Claimant, the Claimant submits its domestic and international reputation suffered, leading to loss of commercial contracts, loss of credit conditions and of other benefits, and loss of market share.⁴³

V. RELIEF SOUGHT BY THE PARTIES

114. The Claimant's requests for relief, as finally articulated, are found at paragraph 235 of its Post-Hearing Submissions:

“235. Garsu Pasaulis respectfully requests the Arbitral Tribunal to:

(a) Declare that the Kyrgyz Republic has breached its obligations as set out in Article 2, 3, and 4 of the Agreement, as described above;

(b) Award monetary damages of not less than EUR 16,740,000.00 (sixteen million seven hundred forty thousand euros) in compensation for the loss sustained as a result of the Kyrgyz Republic's measures that are inconsistent with its obligations under the Agreement and under general international law, including, inter alia, losses related to the cancellation of the e-passports contract, losses related to cancellation of Garsu Pasaulis' profitable contracts and losses related to loss of Garsu Pasaulis' business reputation;

(c) Order the Kyrgyz Republic to bear the costs and expenses of the arbitration, including fees and expenses of counsel, experts, consultants, and witnesses, and the fees and expenses of the Tribunal, plus such further costs and expenses as the Tribunal may find are owed under applicable law;

(d) Award interest on the damages in the amount described above at a rate of US prime rate plus 2%, compounded on an annual basis, beginning from 22 February 2019 until the Tribunal's award is fully complied with;

⁴² Statement of Claim at para. 261; Reply at para. 208. ↩
⁴³ Statement of Claim at paras. 262-278. ↩

25

[Page 26]

(e) Order the Kyrgyz Republic to announce in English language on the official website of the Government of the Kyrgyz Republic (https://www.goc.kg.en) or similar publicly available official communication channel of the Government of the Kyrgyz Republic the following statement:

“The Government of the Kyrgyz Republic confirms to any party concerned that neither Lithuanian company UAB “Garsu Pasaulis” nor any of its former or current employees were ever investigated or charged with corruption or any other crime in the Kyrgyz Republic. No criminal investigation or criminal case is pending or was ever initiated against UAB “Garsu Pasaulis” or any of its former or current employees in the Kyrgyz Republic. As of this day, neither UAB “Garsu Pasaulis” nor any of its former or current employees were ever included in the list of unreliable suppliers in the Kyrgyz Republic.”

This statement shall be announced within 10 calendar days of the issuance of this Award and kept publicly accessible on the Kyrgyz Government's or an alternative official website, as described above, for no less than 10 working days. The Kyrgyz Republic's failure to comply with this order of the Tribunal shall not prejudice Garsu Pasaulis's rights to enforce this order via competent courts.”

115. The Respondent's relief, as finally articulated, is found at paragraph 83 of its Post-Hearing Submissions:

“83. For the reasons set out in this Post-Hearing Brief, as well as the Kyrgyz Republic's earlier submissions, the Kyrgyz republic respectfully requests the Tribunal to:

83.1. DECLARE that it lacks jurisdiction over Claimant's claims and/or that Claimant's claims are inadmissible;

83.2. REJECT in full Claimant's claims on the merits;

83.3. DECLARE that Claimant is not entitled to any remedies it seeks;

83.4. AWARD Respondent the costs associated with this arbitration, including, but not limited to, fees and expenses of the Tribunal, costs of expert advice, costs of legal representation, fees and expenses of

26

[Page 27]

the PCA, and all other professional fees, disbursements, and expenses, plus interest thereon,”

116. In light of the fact that the Respondent has raised jurisdictional objections in respect of all of the Claimant's claims, the issue of jurisdiction is addressed first in the section which follows.

VI. JURISDICTION

117. The accounts of the Parties' positions incorporated into the Tribunal's analysis and decisions, in both this section on jurisdiction and the following sections on the merits, are intended as summaries only and not as comprehensive restatements of every argument or allegation made by the Parties. The Tribunal has considered all arguments and evidence that formed part of the record in this matter. Whilst the Tribunal's decisions are based on the entire record in this matter, in this Final Award the Tribunal addresses the contentions made by the Parties and the evidence on record only to the extent relevant to its decisions.

118. The Claimant has commenced this arbitration pursuant to Article 8 of the BIT, which provides as follows:⁴⁴

"Article 8

Settlement of investment disputes

“1. Disputes between one Contracting Party and the other Contracting Party's investor relating to the latter's investments in the territory of the Contracting Party's home country where appropriate shall be settled amicably. The investor shall notify of the arising dispute in writing the Contracting Party in whose territory investments were made, and shall also provide detailed information.

2. In the event of the failure to settle the dispute amicably within six (6) months from the day on which the written notification referred to in paragraph 1 of this Article is received, the investor shall have the right to submit the dispute for settlement to the following instances:

⁴⁴ C-001, Translation of BIT from Lithuanian into English provided by the Claimant. ↩

27

[Page 28]

- A competent court or an arbitral tribunal (national commercial arbitration institutions) of the Contracting party in whose territory investments were made;

- The International Centre for Settlement of Investment Disputes (ICSID) set up according to the Convention on the settlement of investment disputes between states and nationals of other states; Submitted: 18 March 1965, Washington; the Conciliation and Arbitration under the ICSID Arbitration Proceedings, provided that both Contracting Parties have accessed this Convention, or

- The ad hoc arbitral tribunal set up under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL), unless the parties to the dispute have agreed otherwise.

3. The arbitral award shall be final and binding on the parties to the dispute. Both Contracting Parties must promptly take such decisions, recognise them according to the national legislation of the respective Contracting Party and ensure their effective enforcement in the territory of their country.

4. As a party to a dispute, the Contracting party at any stage of legal proceedings or enforcement of the award may not rely on the fact that the other Contracting Party's investor was or will be compensated for all or part of incurred damage under the insurance contract."

119. The Claimant availed itself of the third option under Article 8(2), namely to initiate proceedings by way of an ad hoc arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law, as adopted in 1976 (“UNCITRAL Rules").

120. The BIT does not identify a seat of arbitration. Article 16(1) of the UNCITRAL Rules provides that unless the parties agreed where the arbitration is to be held, “such place shall be determined by the Arbitral Tribunal”. As set forth in the Procedural History above, following consultation with the Parties the Tribunal selected Stockholm, Sweden, as the seat of arbitration.

121. The Respondent does not contest the existence of the BIT, nor that the Claimant theoretically meets the definition of an investor. However, it is the Respondent's position

28

[Page 29]

that the Claimant's claims are inadmissible under the BIT or otherwise, and that the Tribunal lacks jurisdiction on the basis of the following arguments:

(i) The Claimant's claims do not concern any ‘investment' made in the Kyrgyz Republic, thus excluding the Tribunal's jurisdiction ratione materiae; and

(ii) In any event, the Claimant's claims are inadmissible as it secured its investments through corruption.

122. The Parties' positions with respect to each of these objections are briefly summarized in the following sub-section, followed by the Tribunal's analysis and decision on jurisdiction.

123. Prior to addressing those arguments, the Tribunal briefly addresses the Respondent's objections to the Expert Report of Dr. Crina Baltag (“Baltag Report").

124. The Respondent argues that the Baltag Report is merely a continuation of the Claimant's written pleadings, and is not an independent expert report. The opinions expressed therein effectively cover the entirety of the Claimant's legal case in this arbitration – including merits, jurisdiction and even principles of quantum – and as such it is manifestly not an expert report and should not be treated as such. The Respondent submits that Dr. Baltag has provided opinions on issues which do not require an expert assessment in the context of investment arbitrations. Further, the Respondent argues that Dr. Baltag did not review virtually any of the documents comprising the factual background of the dispute.⁴⁵

125. The Claimant rejects the Respondent's criticism of the Baltag Report, stating that the Parties clearly have the right to assist the Tribunal with expert evidence on crucial aspects of the case, which does not depend on the arbitrator's skill level and by no means implies that the tribunal is incapable of understanding something without the assistance of an expert. The Claimant submits that the facts and evidentiary record show that all of the assumptions relied on by Dr. Baltag are completely true and correct.⁴⁶

126. The Tribunal does not consider it necessary to make any general determination with regard to the evidentiary weight or admissibility of the Baltag Report. The Tribunal is aware of the Respondent's concerns regarding the materials provided to Dr. Baltag upon which her report is based, and the scope of the opinions expressed in the report. The Tribunal is more

⁴⁵ Statement of Defence at paras. 112-126. ↩
⁴⁶ Reply at paras. 317-329. ↩

29

[Page 30]

than capable of assessing the contents of the Baltag Report against the record of this arbitration as a whole, and shall refer to and/or rely on the contents thereof as it considers appropriate in its analysis.

(A) Respondent's First Objection: The Claimant's claims do not concern any “investment” made in the Kyrgyz Republic, thus excluding the Tribunal's jurisdiction ratione materiae

Respondent's position

127. The Respondent submits that the Claimant has failed to meet the necessary criteria for the Tribunal's jurisdiction ratione materiae, under both the BIT and under international law. It does so on two points: first, the Claimant's “short-lived success” in the 2018 Tender does not constitute an ‘investment' and, secondly, the Claimant's reliance on its earlier unrelated projects in the Kyrgyz Republic cannot be linked to the current dispute.⁴⁷

(i) Definition of investment

128. In light of the language at Articles 8(1) and 2(1) of the BIT, the Respondent submits that in order for the Tribunal to have jurisdiction ratione materiae over Claimant's claims under the BIT, the following two conditions must be fulfilled: (a) there must be a protected 'investment' within the meaning ascribed to it under the BIT and international law; and (b) the purported dispute must be “relating to” such an investment.⁴⁸

129. With respect to condition (a), the Respondent states that under the BIT, in order to be a protected investment, the following conditions must be met:

(i) The BIT prescribes that the investment must comprise an asset “invested” (and the investment itself must be “made") in the territory of the host State. The words used distinguish an active action to invest in a completed form (which is protected), from mere pre-investment activities (which are not protected).⁴⁹

(ii) The BIT also requires that in order to be protected, the purported investment must be made “in accordance with the national legislation" of the host State, and that the host State shall recognize investments “in accordance with its

⁴⁷ Statement of Defence at para. 127. ↩
⁴⁸ Statement of Defence at paras. 128-130. ↩
⁴⁹ Statement of Defence at paras. 132-137; Rejoinder at paras. 96-102. ↩

30

[Page 31]

national legislation”. Therefore, in order to be protected under the BIT, the assets comprising the purported investment must be legally recognized and protected under the laws of the host State.⁵⁰

(iii) The purported investment must fall within the inherent meaning of the term 'investment' interpreted in light of its basic features, which always includes elements of contribution, a certain duration and risk. This element has been increasingly recognized both among commentators and investment tribunals.⁵¹

130. With respect to condition (b), the Respondent submits that Article 8(1) of the BIT requires that a putative dispute must be “relating to” a protected investment. There must be a direct connection between the claim and the jurisdictional basis it rests upon. Prior business projects operated or assets invested by the investor, which are not affected by the host State's contested measures, cannot be relied upon as the basis for the tribunal's jurisdiction ratione personae. The Respondent argues that the “entire operation” concept is not a catch -all mechanism allowing an investor to claim that its fragmented investments are an integral whole, protected by the applicable legal instrument.⁵²

(ii) Claimant's alleged investment

131. Applying the foregoing conditions to the present dispute, the Respondent argues that the Claimant's purported investment fails as it did not have any protected rights under Kyrgyz law, as required by the BIT. The Respondent submits that the Claimant's attempted characterization of its rights stemming from it 'winning' the 2018 Tender are incorrect for the following reasons:⁵³

(i) There was nothing “economic” about the Claimant's rights in relation to the 2018 Tender. The right to conclude a contract after being declared the winning bidder “is inherently procedural” and Claimant could not have had any contractual rights up until the actual execution of the contract with the procuring entity. The parties intended to make amendments to the draft/template contract annexed to the tender documentation, and were far from actually entering into

⁵⁰ Statement of Defence at paras. 138-139; Rejoinder at paras. 103-106. ↩
⁵¹ Statement of Defence at paras. 140-144; Rejoinder at paras. 107-112. ↩
⁵² Statement of Defence at paras. 145-149; Rejoinder at paras. 113-118. ↩
⁵³ Statement of Defence at paras. 152-161; Rejoinder at paras. 119- ↩

31

[Page 32]

the contract. Further, the procuring entity (i.e. SRS in this case) may cancel procurement at any point in time before conclusion of a contract, if it considers that there is no longer a need for such procurement, with no consequences for the procuring entity vis-à-vis the winning bidder. Under Kyrgyz law, upon being selected as the winning bid, the Claimant was not even entitled to reimbursement of expenses incurred in the bidding process.

(ii) The Claimant's alleged right to conclude the public procurement contract after being proclaimed as the 'winner' of the 2018 tender was anything but “unconditional” or “automatic”. If for any reason the winning bidder and the procuring entity did not enter into a contract before the expiration of the validity of the winner's bid, and the winner did not take legal measures to compel the procuring entity to enter into the contract, its right to enter into that specific public procurement contract expires for good.

(iii) The Claimant's purported “contractual rights arising from the winning of the 2018 Tender" does not meet the following hallmark criteria of investment: (i) the Claimant did not make any contribution to acquire the ‘contractual right', nor did the Claimant invest any assets in due course of performance of the contract (which did not exist at all); (ii) nothing has been invested in the territory of the Kyrgyz Republic, as the Claimant's negligible costs in preparing the tender bid are, at best, pre-investment expenses; (iii) absent a valid and binding contract, there are no contractual rights out of which monetary claims, claims to perform economic activity or a right to engage in economic activity under a contract in the Kyrgyz Republic having an economic value could arise.

132. Further, the Respondent argues that the 'winning' of the 2018 Tender does not meet any other criteria for an ‘investment' under the BIT nor international law. Beyond the fact that there was no contractual right to conclude a public procurement contract from ‘winning' the 2018 Tender, this alleged right to execute the contract does not qualify as an “investment” made within the meaning of Article 1(1) of the BIT in that it was not an investment made in completed form. At best, the Respondent argues, it is an 'investment

32

[Page 33]

in the making', which could eventually arrive at a proper contract (but did not); at worst, it is mere 'pre-investment' activity.⁵⁴

133. The documentation for the 2018 Tender expressly provided that: (i) the procuring entity is in no way responsible for the costs associated with preparing and submitting of the bidders' bids, and (ii) the procuring entity is in no way liable before the bidders in case of cancellation of the 2018 Tender or its recognition as failed. The Respondent argues that the rights obtained by the Claimant after ‘winning' the 2018 Tender were not substantive of contractual in nature, but rather procedural, and that the Claimant had remedies at its disposal to compel the procuring organization to enter into the contract. The Respondent notes that the Claimant's purported investment does not meet any of the elements pertaining to the inherent meaning of the term ‘investment', comprising contribution, a certain duration and risk. Further, by submitting its bid under the 2018 Tender and being announced the ‘winner', the Respondent submits that the Claimant did not commit a single penny into the Kyrgyz economy. ⁵⁵

134. The Respondent rejects the argument that the Claimant's earlier investments in the Kyrgyz Republic can be relied upon as a basis for the Tribunal's jurisdiction ratione materiae. The wording of Article 8(1) of the BIT requires that a putative dispute must be “relating to" a protected investment, in that the alleged violations of the BIT must concern and directly affect the very asset and/or business project that is presented as the basis for the tribunal's jurisdiction ratione materiae. In the present case, the Respondent argues that the Claimant has failed to demonstrate that its earlier ventures in the Kyrgyz Republic are “relating to” the 2018 Tender or the present dispute:⁵⁶

(i) The 2013 and 2016 excise stamps production contracts have no connection with the 2018 Tender. They were subject to two different public procurement tenders, organized by a different procuring entity, with a different subject matter than the 2018 Tender.

(ii) The establishment of a local Kyrgyz company, Garsu Pasualis LLC, has no connection with the 2018 Tender. This company was established specifically

⁵⁴ Statement of Defence at paras.163-168. ↩
⁵⁵ Statement of Defence at paras. 169-172. ↩
⁵⁶ Statement of Defence at paras. 173-189; Rejoinder at paras. 125-130. ↩

33

[Page 34]

within the context of the performance of the exercise stamps production contracts.

(iii) The Claimant's provision of training and know-how in the years preceding the 2018 Tender had nothing to do with the 2018 Tender; as the Claimant itself has confirmed this was provided specifically within the context of performing the exercise stamp contracts.

(iv) The Claimant does not clearly explain what kind of “business reputation” it would have effectively invested in the context of the 2018 Tender. In any event, such reputation would have been in the context of the excise stamp production and would have nothing to do with the production of blank passports.

(v) The 2018 Tender was neither a precondition for the expansion of the Claimant's activities in the Kyrgyz Republic and the wider CIS region, nor was it a logical continuation of prior projects. It was a separate and independent venture that the Claimant decided to attempt at its own risk and peril.

135. Accordingly, the Respondent submits that the Claimant's prior business ventures cannot be regarded as a single investment together with it ‘winning' the 2018 Tender and therefore have no relation to the present dispute. As a consequence thereof, the Tribunal lacks jurisdiction ratione materiae over the present dispute. ⁵⁷

Claimant's position

(i) Definition of Investment

136. The Claimant argues that the BIT takes a broad approach to the notion of investment, as reflected in the language at Article 1(2) thereof, which is understood to include “everything of economic value, virtually without limitation.” It is the Claimant's position that the BIT: (i) applies to the broadest possible range of investments; (ii) covers both complete investments and “investments in the making”; (iii) sets no minimum price tag on the covered investment; and (iv) does not require that the present dispute arise directly out of investments, only that it relates to the Claimant's investments in the Kyrgyz Republic.

⁵⁷ Statement of Defence at para. 190. ↩

34

[Page 35]

The Claimant notes that the UNCITRAL Rules do not impose any further requirements on the notion of 'investment'.⁵⁸

137. The Claimant submits that tribunals have consistently concluded that the physical presence of an investment within the host State is not critical when the investment has no tangible form, and that tribunals favour an inclusive approach to the existence of an investment by considering the “entire operation” of the investor.⁵⁹

138. It is the Claimant's position that it made numerous and significant investments which give rise to the Tribunal's jurisdiction, as the BIT has a very broad definition of investment, which affords protection to investments at an early stage. Claimant submits that both the “entire operation” of Claimant's investment in the Kyrgyz Republic as well as the right to execute and perform the contract as per the 2018 Tender possess all hallmarks of an 'investment' and grant the Tribunal ratione materiae jurisdiction under the BIT.⁶⁰

139. The Claimant argues that it had an economic right to execute and perform the e-passports contract, and that this was not a pre-investment activity. The parties to the BIT chose not to restrict the scope of protection to certain types of investments, and therefore it applies to everything of economic value invested within their respective territories. Even if the Tribunal agreed with the Respondent that the Claimant's economic right was an “investment in the making”, such an investment would still fall within the scope of the BIT. The Respondent's contention that the use of the term “invested” in Article 1(1) of the BIT should be limited to “investments that have been made and exist" should be dismissed.⁶¹ Article 3(1) of the BIT expressly prohibits “unjustified, ill-considered or discriminatory measures” affecting the “development” of investors' investments. ⁶² According to the Claimant, the development of economic activities must be foreseen or intended, but not necessarily be successful, especially when the problems the investor faces in the development of its activities come from the host State's actions.⁶³

140. The Claimant states that Kyrgyz law plays no significant role in shaping the BIT's notion of “investment”, and that all it is required is for the Claimant to show that, as a matter of

⁵⁸ Statement of Claim at paras. 306-310; Claimant's Post-Hearing Submissions at paras. 9-21. ↩
⁵⁹ Statement of Claim at paras. 315-316. ↩
⁶⁰ Reply at para. 336. ↩
⁶¹ Statement of Claim at paras. 413-418; Reply at paras. 337-362. ↩
⁶² Exhibit [C-001] at Article 3(1). ↩
⁶³ Statement of Claim at paras. 356. ↩

35

[Page 36]

Kyrgyz law, it had monetary claims or requests to carry out any other actions of economic value, intellectual property rights, know-how, business reputation or any rights to engage in economic activities. In other words, the Claimant submits that its right does not have to constitute an investment under Kyrgyz law. ⁶⁴

141. The Claimant rejects the Respondent's attempts to have the Tribunal ignore the Claimant's previous long-standing investments, including investments into the development of e-government services in the Kyrgyz Republic, the well-established goodwill and know-how. A proper interpretation of the BIT favours an inclusive approach to the existence of “investment”, and as such a tribunal should assess the aggregate of the investor's operations in the host State which, sometimes, together constitute an investment, even if individually they might not qualify as such. This is particularly so when the investment in question was used to expand the Claimant's existing investment, such as in the present case.⁶⁵ The Claimant further rejects the Respondent's attempts to import into the BIT the ICSID Salini criteria, and also the controversial criterion of ‘contribution to the local economy'.⁶⁶

(ii) Claimant's alleged investment

142. It is the Claimant's position that the throughout the years of its operations in the Kyrgyz Republic, the Claimant made several significant investments corresponding to the various types of assets expressly included in the in the list at Article 1(2) of the BIT. These included the investment of substantial funds and know-how into the Kyrgyz Republic in relation to the excise stamp printing, and contribution to the success of the Kyrgyz digitalization efforts in accordance with various contracts concluded with the Kyrgyz government. The Claimant also formed a Kyrgyz company, Garsu Pasaulis LLC, and remains its main shareholder. These investments correspond to the various types of assets included in the list under Article 1(1) of the BIT, which includes: shares in corporate business, monetary claims or requests to carry out any other actions of economic value, intellectual property rights, know-how, business reputation, and any rights to engage in economic activities under contract and any license. The Claimant alleges that there was an ongoing arrangement that Garsu Pasaulis LLC would be used for the 2018 e-passport

⁶⁴ Reply at paras. 363-367 ↩
⁶⁵ Reply at paras. 368-378. ↩
⁶⁶ Statement of Claim at para. 317; Reply at paras. 379-392. ↩

36

[Page 37]

contract once the latter was executed, and had made specific costs projections in its business plans for additional employees of the local company for work associated with the 2018 Tender.⁶⁷

143. In 2018, the Claimant sought significantly to increase its investment activities in the Kyrgyz Republic by executing and performing the e-passport contract won during the course of the 2018 Tender. When ascertaining the Claimant's economic rights for the purposes of ratione personae, the Tribunal does not need to assess whether the contract came to fruition. Instead, the Claimant argues that for the purposes of jurisdiction, it is sufficient that the Claimant satisfies the very low threshold of the BIT in that it possessed a right of economic value. The Claimant argues that as a result of its successful participation in the 2018 Tender, the Claimant acquired a new and very specific economic right to execute the e-passports contract for a very specific amount, for a very specific period of time. The Claimant submits that by winning the 2018 Tender, it received an immediate and legally enforceable right to execute the e-passport contract without any further negotiations envisioned, and that this qualified as a stand-alone investment under the BIT under the ambit of “requests to carry out any other actions of economic value” as per Article 1(1) of the BIT. Upon winning the 2018 Tender, the Claimant alleges that the terms of the e-passport contract were finalized, and that no amendments were allowed. The Claimant further submits that it took all necessary steps to sign the e-passports contract, and that the SRS was ready to sign the contract on behalf of the Kyrgyz government before the “bogus criminal investigation” was set in action.⁶⁸

144. It is the Claimant's position that under Kyrgyz law the Claimant gained legal rights once it was declared the winner of the 2018 Tender, which could only by terminated in certain circumstances, none of which existed in the present case.⁶⁹

145. While the Claimant disputes the application of the Salini test in non-ICSID cases, it argues that this test is nonetheless satisfied in the current case: (a) the Claimant's substantial contribution is reflected by the establishment of a local company and execution of contracts for the Kyrgyz government for the establishment and development of e-government services; (b) the Claimant's investments were made in a period spanning over

⁶⁷ Statement of Claim at paras. 318-321; Reply at paras. 393-394; Claimant's Post-Hearing Submissions at paras. 22-52. ↩
⁶⁸ Statement of Claim at para. 362; Reply at paras. 395-404; Claimant's Post Hearing Submissions at paras. 53-58. ↩
⁶⁹ Statement of Claim at paras. 384-395. ↩

37

[Page 38]

eight years; (c) the activities carried the requisite degree of risk; and (d) the investment activities contributed to Kyrgyz economic development.⁷⁰

146. The Claimant points out that in contrast to other investment arbitration cases, the Claimant's participation in the 2018 Tender was not a one-off, first-time attempt to make an investment in an entirely new market. The 2018 Tender was part of the Claimant's long-term plan to invest and work in the Kyrgyz market and the CIS region.⁷¹ It is the Claimant's position that winning the 2018 Tender meets all of the criteria of an “investment” under the BIT and/or under international law. The Claimant's right to execute the e-passports contract is the type of “economic rights" defined under the terms of the BIT. The Claimant denies that the Respondent is able to rely on provisions of the 2018 Tender which purport to absolve the procuring entity of responsibility for legal cancelling the tender, in particular in cases like the present one where the Claimant was illegally deprived of its ability to obtain the benefits of its tender victory.⁷²

147. The Claimant also submits that the incorporation of Garsu Pasaulis LLC, which is clearly a qualifying investment under Article 1(2) of the BIT, is relevant for the present dispute. Implementation of the e-passports contract would have required extensive use of the local company, its personnel, offices and know-how and all that would be used for the purposes of the e-passports contract. The Claimant not only invested substantial amounts, but also provided substantial know-how, product design, counterfeit expertise, installation and maintenance of IT systems and training to Kyrgyz's public officials. Systems installed and developed by the Claimant in the Kyrgyz Republic are successfully used to this date. The Claimant argues that without the successful implementation of the previous contracts and the years of investment and development of know-how, the Claimant would not have had any chance of successful participation in the 2018 Tender and execution of the e-passports contract. It is well-established that qualified personnel and know-how brought by a contractor to the host State are considered investments.⁷³

148. The Claimant further contends that its ‘international reputation' is a protected investment, which has been destroyed by the Respondent not just in the Kyrgyz Republic but also

⁷⁰ Statement of Claim at para. 402. ↩
⁷¹ Statement of Claim at paras. 322, 358; Reply at para. 404. ↩
⁷² Statement of Claim at paras. 353-363; Reply at paras. 405-410. ↩
⁷³ Statement of Claim at paras. 325-352; Reply at paras. 420-428. ↩

38

[Page 39]

around the world. The Claimant notes that Article 1(1) of the BIT specifically includes business reputation. The Claimant alleges that it invested years and vast amounts of money to build up a respectable reputation in the very specific global market of e-government services and security printing, including within the Kyrgyz Republic.⁷⁴

Tribunal's decisions

149. The first of the Respondent's objections to jurisdiction is on the basis that the Claimant's claims do not concern any “investment” made in the Kyrgyz Republic within the terms of the BIT. The Tribunal notes that the Respondent does not dispute that the Claimant itself meets the definition of an investor under the BIT, but has instead focused this objection on the nature of the Claimant's alleged investments. For good order, the Tribunal notes that the Claimant is a company incorporated in Lithuania, one of the Contracting Party States under the BIT. The Tribunal is therefore satisfied that the Claimant meets the definition of "Investor” within the meaning of Article 1(2)(b) of the BIT, which reads: “2. ‘Investor' means in respect of both Contracting Parties: ... b) Legal persons incorporated or constituted under national legislation of the Contracting Party."

150. The starting point for the analysis of the term "investment” is the language of the BIT, wherein the definition of Investment can be found at Article 1(1). The Parties have also made reference to Article 8(1). The Parties' respective translations of those provisions of the BIT are substantially similar, although the Tribunal sets out both versions below as there is some dispute as to the precise translations.

⁷⁴ Statement of Claim at paras. 422-438. ↩
⁷⁵ Exhibit [C-1]. ↩
⁷⁶ Exhibit [RLA-0019]. ↩

39

[Page 40]