Terms of investment treaty definitive in determining ICSID jurisdiction | Practical Law
The decision in The Rompetrol Group NV v Romania (ICSID Case No. ARB/06/3) relates to a preliminary objection to the jurisdiction of an ICSID tribunal in relation to a claim arising under a bilateral investment treaty (BIT). The respondent claimed that the claimant company was, in effect, owned and controlled by a domestic national and that the investment funds were from a domestic source. Accordingly, although the claimant was incorporated under Dutch law, its "real and effective" nationality was Romanian. Therefore the matter did not fall within the scope of the ICSID Convention.