Respondent violated Article 7 of the Ticadia-Kronos BIT by indirectly Sample Clauses

Respondent violated Article 7 of the Ticadia-Kronos BIT by indirectly expropriating Claimant's property‌ 75 The above-mentioned sanctions introduced by the Decree had a devastating effect on Xxxxxxxx's investment and left Claimant no options but to shut down its facilities.87 The Tribunal shall find that Respondent’s treatment of Claimant through its legislation, regulation and administrative actions violated its commitment under the Ticadia-Kronos BIT. Respondent’s measures substantially deprived Claimant of the value of its investment and thus amounted to an act of indirect expropriation. No definition of the term is provided in the Ticadia-Kronos BIT. However, international law recognizes that indirect expropriation involves “total or near-total deprivation of an investment but without a formal transfer of title or outright seizure”.88 76 Moreover, in LG&E v. Argentina89, the duration of the disputed measure played an important factor in the determination of expropriation. Respondent’s measures reflect a permanent destruction of the economic value of Claimant's investment and the deprivation of Claimant's ability to manage, use or control its property in Kronos in any meaningful way. As provided in Article 2 of the Decree all Claimant’s government contracts, licenses and concessions for the exploitation of lindoro in Kronian territory were irrevocably terminated.90
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