Arbitration Links - Linklaters
  • Year: 2017
  • Month: August
  • Topic: Costs

The Conclusion of the Phillip Morris v Australia Saga

03 August 2017 Alexander Fawke, Australia

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The long-running investment treaty dispute between Phillip Morris Asia (“PMA”) and Australia concerning tobacco plain packaging laws has finally ended, with the publication of the Tribunal’s final award on costs in July. Having already dismissed Phillip Morris’ claim as an abuse of rights, the Tribunal rejected its argument that each party should bear its own costs. It ordered Phillip Morris to cover an (undisclosed) proportion of Australia’s costs, while agreeing that Australia should bear some of its own costs due to one of its arguments on jurisdiction failing. The Tribunal’s reasoning contains important lessons for both investors and states as to the extent of permissible costs recovery in investment arbitration.

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