by Patricio Grané and Brian Bombassaro The year 2012 brought eight new investor-state arbitration decisions on umbrella clauses.1)(1) Société Générale de Surveillance S.A. v. Republic of Paraguay, ICSID Case No. ARB/07/29, Award (Feb. 10, 2012), (2) EDF International S.A., SAUR International S.A. and Leon Participaciones Argentinas S.A. v. Argentine Republic, ICSID Case No. ARB/03/23, Award…