Todays report5 Apr 2017 13:04
We all know how arrogant and shameless ROI are but a read of this report seems so damning to ICSID..Lets hope they feel some shame and find this damning enough to push ROI into a corner with a settlement.
http://www.italaw.com/cases/1479
149. In their letter of 8 December 2014, the Claimants observed: Indonesia’s case of "deceit" does not require mere "mistakes" to have been committed, but utter and reckless disregard for official duty by a host of Indonesian officials, including the entire Regency staff and the Regent himself.
154. The Claimants' argued that, if an "insider" was involved, "the immediate legal consequence [would be] that the State would be responsible for the criminal
156. Despite the Tribunal finding that State's officials had probably done wrong – "the forgeries and the fraud were orchestrated by author(s) outside of the Regency, most likely Ridlatama, who benefited from the assistance from an insider to introduce the fabricated documents into the Regency’s databases and archives *
225 – the Tribunal did not apply the international law of State Responsibility. In not doing so, the Tribunal exceeded its powers.212. If that is the standard of reasoning parties should expect from ICSID tribunals, investors – especially those in the mining sector – will rightly lose confidence in the system. The ICSID Convention was intended to promote foreign investment but awards like the one in this case may well deter it, especially in sectors dependent upon technology transfer