Swiss Arbitration Decisions

This is a translation of considerable interest, as it marks the first time the Federal Tribunal has annulled an award in an investment arbitration. 

A.________ is a Spanish company incorporated by its parent, C.________, in 2011. At its incorporation, C.________ made a contribution of all of the shares C.________ owned in D.________ SA. D.________ was the group’s Venezuelan subsidiary.