Second ICSID claim filed against Uruguay; Philip Morris decision still pending
On March 24, the International Centre for Settlement of Investment Disputes (ICSID) registered (Case No. ARB/16/9) a request for arbitration filed by U.S. telecom company Italba against Uruguay. The company alleges that Uruguay terminated a wireless spectrum licence in violation of the fair and equitable treatment standard under the Uruguay–United States bilateral investment treaty (BIT). This is the second ICSID case against Uruguay. The first was initiated by Philip Morris in 2010 (Case No. ARB/10/7); a hearing on the merits was held in late October 2015.