brought under the dominican republic - central america - ita
brought under the dominican republic - central america - ita
brought under the dominican republic - central america - ita
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ANNEX TO PART 1: THE RELEVANT LEGAL TEXTS<br />
1.1. It is appropriate here, for later ease of reference, to set out <strong>the</strong> relevant legal texts<br />
from (i) <strong>the</strong> Investment Law, (ii) CAFTA, (iii) <strong>the</strong> ICSID Convention, (iv) <strong>the</strong> ICSID<br />
Arbitration Rules and (v) <strong>the</strong> International Law Commission‟s Articles on State Responsibility.<br />
(01) The Investment Law<br />
1.2. Article 15(a) of <strong>the</strong> Investment Law provides (as translated by <strong>the</strong> Claimant from <strong>the</strong><br />
original Spanish into English), in relevant part:<br />
―In <strong>the</strong> case of disputes arising among foreign investors and <strong>the</strong> State, regarding<br />
<strong>the</strong>ir investments in El Salvador, <strong>the</strong> investors may submit <strong>the</strong> controversy to: (a)<br />
The International Centre for Settlement of Investment Disputes (lCSID), in order to<br />
settle <strong>the</strong> dispute by ... arbitration, in accordance with <strong>the</strong> Convention on Settlement<br />
of Investment Disputes Between States and Investors of O<strong>the</strong>r States (ICSID Convention)<br />
...‖<br />
1.3. The original Spanish text of Article 15 of <strong>the</strong> Investment Law provides, in full:<br />
“En caso que surgieren controversias ó diferencias entre los inversionistas nacionales<br />
o extranjeros y el Estado, referentes a inversiones de aquellos, efectuadas en El<br />
Salvador, las partes podrán acudir a los tribunales de justicia competentes, de<br />
acuerdo a los procedimientos legales. En el caso de controversias surgidas entre inversionistas<br />
extranjeros y el Estado, referentes a inversiones de aquellos efectuadas<br />
en EI Salvador, los inversionistas podrán remitir la controversia: (a) Al Centro Internacional<br />
de Arreglo de Diferencias Relativas a Inversiones (CIADI), con el objeto<br />
de resolver la controversia mediante conciliación y arbitraje, de conformidad con<br />
el Convenio sobre Arreglo de Diferencias Relativas a Inversiones entre Estados y<br />
Nacionales de otros Estados (Convenio del CIADI); …”.<br />
Annex to Part 1 – Page 1