EDF International SA and ors v Argentina, Final award, ICSID Case No ARB/03/23, IIC 556 (2012), 11th June 2012, United Nations [UN]; World Bank; International Centre for Settlement of Investment Disputes [ICSID]
Whether a Most Favoured Nation Clause in an investment treaty could be used to import a broadly-worded Umbrella Clause from a third party investment treaty.
To what extent did measures attributable to the host state that breached a concession agreement also amount to a breach of the imported Umbrella Clause and the factors to be taken into account (ie original risk allocation, contractual equilibrium, and sovereign nature of the state acts).
Whether the International Centre for Settlement of Investment Disputes tribunal had to take into account the forum selection clause contained in a concession agreement in applying the imported Umbrella Clause and any previous decisions rendered by the host states courts under such a clause.
Whether the host state could avail itself of any defences for its actions under the applicable treaty (such as considerations of public interest) or under general customary law (such as the doctrine of Act of Necessity) where it was held in breach of the Umbrella Clause or other substantive protections such as Fair and Equitable Treatment.