Africa, Investment, Investment agreements, Investment Arbitration, Investment Disputes, Investment law, Investment protection
Pre-Ιnvestment Expenditures, Defining an Investment, and a Problem of Translations: Patel Engineering v the Republic of Mozambique
The Patel Engineering Limited (“PEL”) v the Republic of Mozambique tribunal, constituted under the UNCITRAL Arbitration Rules, dealt with pre-investment expenditures and whether such expenditures constitute a protected investment. Investors frequently make expenditures in the preparatory phase of an investment, such as environmental impact assessments, scientific surveys, or financial advice. When are these expenditures considered…