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Alasdair Ross Anderson et al. v. Costa Rica

Type of decisionAward
Date of decision19 May 2010
Tribunal
Sandra Morelli Rico (President)
Jeswald W. Salacuse
Raúl E. Vinuesa
Legal instrumentBIT between Canada and Costa Rica (1998)
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International Investment Treaties (IITs)
Protection of Investors under IITs
Applicability of IITs
Ratione Materiae – Definition of Investment
The Concept of "Investment"
Claims to Money
The deposition of funds and the resulting right to payment of interest can constitute an "asset"
Investment “In Accordance With the Legislation”
As not all IITs contain an "in accordance with the law clause", the existence of such a clause is a clear indication of the importance the state parties attached to the legality of investments
If an IIT requires the investment to be in accordance with the law, the investor must meet this requirement regardless of his or her knowledge of the law or his or her intention to comply with it
Besides determining whether the ownership of property is in accordance with the law, a tribunal must also examine whether all laws were complied with on acquiring the ownership
Investment Treaty Arbitration
Costs
General Remarks
It is an accepted and rational practice that each party shall bear its own legal costs and share equally in the costs of the tribunal; on the other hand, the application of the principle "costs follow the event" would require special reasons or circumstances

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