Admissibility — Energy Charter Treaty, Article 17(1) — Conditions necessary to invoke Article 17(1) — Ownership or control by a national of a Contracting Party

Admissibility — Ownership, misrepresentation of — Whether alleged misrepresentation is a question of jurisdiction or merits

Foreign investment — Misrepresentation as to identity of investors — Whether investment contrary to domestic law and international law — Obligations of investor to provide host State with information concerning the investor and investment — Whether investment made in violation of principle of good faith — Whether illegal investments protected by law

Energy Charter Treaty — Energy Charter Treaty, Article 26(6) — Applicable rules and principles of international law — Principle that nobody can benefit from his own fraud — Whether enforcement of an illegally obtained contract contrary to international public policy

Energy Charter Treaty — Scope of protection — Whether protection extends to investments made illegally — Whether protection extends to changes in the host State’s laws — Investor’s awareness of the state of the host State’s laws — Risks of investment — Energy Charter Treaty, Article 21 — Taxation excluded from scope of the Treaty

Energy Charter Treaty — Standards relating to investments — Energy Charter Treaty, Article 10(1) — Whether Article 10(1) applies to all stages of investment — Liability for past environmental damages — Fair and equitable treatment — Full protection and security — Whether failure to provide aid for environmental clean-up constitutes discrimination

Foreign investment — Actions of state-owned bank with respect to foreign investor — Whether actions taken on a commercially reasonable basis

Costs — Allocation of costs between parties — ICSID Convention, Article 61 — Tribunal’s discretion to award costs — Effect of a party’s conduct on apportionment of costs — Fraudulent conduct by a party