Jurisdiction — Of arbitration tribunal — Joint venture agreement between foreign company and State — Limited liability company established to carry out project — State to guarantee and authorize payment of accounts by joint venture company — Accounts rendered by foreign company not paid Whether State proper party before tribunal

Damages — For breach of joint venture agreement — Joint venture agreement between foreign company and State for cultivation and processing of hemp and construction of textile factory — Changes in economic conditions rendering project unprofitable — Foreign company insisting on alteration to programme or repudiation of position as partner and maintenance of status as supplier and technical expert only — Accounts submitted by foreign company for supply of materials to joint venture remaining unpaid Whether State in violation of agreements between the parties

Counterclaim — For breach of joint venture agreement — Joint venture agreement between foreign company and State for cultivation and processing of hemp and construction of textile factory — Changes in economic conditions rendering project unprofitable — Foreign company insisting on alteration to programme or repudiation of position as partner and maintenance of status as supplier and technical expert only — State failing to require performance with contractual obligations — Whether foreign company liable for damages for repudiation of agreements between the parties

Costs — Parties both claiming repudiation and termination of agreements between them — Neither party proving claim — Parties bearing own costs of proceedings

Arbitrators — Appointment — Arbitration clause submitting disputes to icsid contained in agreements — Arbitrators to be appointed by parties — State refusing to appoint arbitrator — Procedure in event of default of party to appoint arbitrator

Jurisdiction — Of tribunal — Agreement to arbitrate — Requirement of written consent — Arbitration clause submitting disputes to icsid contained in agreements — Whether arbitration clause sufficient written consent to arbitrate

Jurisdiction — Of tribunal — Unilateral notification by State of intention to exclude type of dispute from icsid jurisdiction operative in respect of prior consent to arbitrate Whether notification

Non-appearance — Company instituting arbitration proceedings — State failing to appear before tribunal — Procedure in default of appearance

Jurisdiction — Of tribunal — Legal dispute arising from investment — Meaning of “investment”