Mihaly International Corporation v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/00/2)

Procedural record

1. 15 March 2002Arbitration

   15 March 2002Arbitration

   Award of the Tribunal dated 15 March 2002

   International Centre for Settlement of Investment Disputes

   Decision summary

   The Tribunal unanimously dismissed the preliminary objection ratione personae and sustained the preliminary objection ratione materiae because there was no proof of admission of an investment in being. It decided that it was without jurisdiction to entertain the question submitted. The costs of the proceedings, including the fees and expenses of the arbitrators and Secretariat, were to be shared equally by the Parties, with each Party bearing its own legal fees and preparation costs.

   Participants

   Mihaly International Corporation (USA)

   Democratic Socialist Republic of Sri Lanka

   International Centre for Settlement of Investment Disputes

   Arbitrator

   Sompong Sucharitkul

   Arbitrator

   Andrew Rogers

   Arbitrator

   David Suratgar

   Authorities cited

   10

   • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention)
     statute
   • United States-Sri Lanka Bilateral Investment Treaty (Treaty between the United States of America and Sri Lanka concerning Encouragement and Reciprocal Protection of Investment, 20 September 1991)
     statute
   • Vienna Convention on the Law of Treaties 1969
     statute
   • Klockner v Cameroon (ICSID Case No. ARB/81/2)
     case-law
   • AMT v Zaire (ICSID Case No. ARB/93/1)
     case-law
   • Submission and Evaluation of Proposals for Private Power Generation Projects in Developing Countries (World Bank Discussion Paper, September 1999)
     academic
   • Bilateral Investment Protection Treaties and Arbitration of Investment Disputes (Aron Broches, The Art of Arbitration, 1952)
     academic
   • Provisions on the Settlement of Investment Disputes in Modern Investment Laws, Bilateral Investment Treaties and Multilateral Instruments on Investment (12 ICSID Review-Foreign Investment Law Journal 287 (1997))
     academic
   • Bilateral Investment Treaties (Rudolf Dolzer and Margrete Stevens, 1994)
     academic
   • Statute of the International Court of Justice
     statute