Summary

Source: icsid.worldbank.org

AWARD

Members of the Tribunal
Prof. Gabrielle Kaufmann-Kohler, President of the Tribunal
Prof. Dr. Stephan Schill, Arbitrator
Prof. Alexis Mourre, Arbitrator

I. INTRODUCTION

1. The present dispute was submitted to the International Centre for Settlement of Investment Disputes ("ICSID") under the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the "ICSID Convention") and the Philippines-Spain Bilateral Investment Treaty of 1993 (the "Treaty" or the "BIT").1 The dispute arises out of the Respondent's alleged conduct in relation to arbitral proceedings between the Claimants and the Government of Malaysia (the "ad hoc Arbitration") under the 1878 Agreement related to the compensation for the lease of territory on and around North Borneo (the "1878 Agreement").

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V. OPERATIVE PART

110. For the foregoing reasons, the Tribunal decides as follows:

(i) The claims before it in this arbitration are manifestly without legal merit and are dismissed pursuant to Rule 41 of the ICSID Arbitration Rules;

(ii) The Claimants shall pay to the Respondent [...] for the latter's share of the fees and expenses of the Tribunal and the ICSID administrative costs;

(iii) The Claimants shall pay to the Respondent [...] for the Respondent's costs of legal representation;

(iv) The Respondent's claim for interest on costs is dismissed.

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