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Global Trading Resources Corp. and Globex International, Inc. v. Ukraine

Case No. ARB/09/11 Award (December 1, 2010)

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Global Trading Resources Corp. and Globex International, Inc. v. Ukraine

International Centre for Settlement of Investment Disputes
Case No. ARB/09/11 Award (December 1, 2010)

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Facts

Global Trading Resources Corp. (Global) (plaintiff) and Globex International, Inc. (Globex) (plaintiff) entered into agreements with a state-owned company owned by Ukraine (defendant), under which Global and Globex agreed to sell poultry to Ukraine. Ukraine defaulted on the agreement, and Global and Globex commenced arbitration proceedings against Ukraine under the bilateral investment treaty between the United States and Ukraine. Ukraine sought dismissal of the claim as manifestly without legal merit under Rule 41(5) of the International Centre for Settlement of Investment Disputes (ICSID) Arbitration Rules because the underlying transactions were not investments.

Rule of Law

Issue

Holding and Reasoning (Berman, J.)

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