In the Canadian Cattlemen case, the tribunal has decided that it lacks jurisdiction to hear claims brought by various Canadian claimants against the US, because the claimants' investments were not located in US territory.

The tribunal relied upon article 1101 of NAFTA chapter 11, and interpreted it as imposing a gateway requirement of a "foreign" investment. To hold otherwise would be to expand the investment protections of chapter 11 beyond what was intended by the contracting parties. The decision is consistent with previous awards which have considered similar issues, and also contains some helpful discussion of the proper approach to interpreting multilateral treaties.