Interpretation — Article 25(1) of the ICSID Convention — Interpretation of “investment” — Shares as an investment — Whether minority shareholders have a different standing and an independent claim from the corporation — Whether an investment must involve control or majority ownership

Jurisdiction — Legal dispute arising directly out of an investment — Whether claims relating to general emergency economic policies directly affect the investment

Jurisdiction — Domestic dispute settlement provisions in contract — Relation between contractual claims and treaty claims — Functions of different instruments — “Fork-in-the-road” provision — Whether domestic litigation involved the same dispute and the same parties

Jurisdiction — Sources of applicable law — Whether national law or international law applies — Parties’ choice of law — Article 42 of the ICSID Convention

State responsibility — Organ of State — Type of organ immaterial for attribution — Article 4 of International Law Commission’s Articles on State Responsibility, 2002

Admissibility — Nature and subject-matter of dispute — Separate disputes or single continuous dispute — Events occurring before and after Request for Arbitration not a determinant factor — Incidental or additional claims under Article 46 of the ICSID Convention