Fireman's Fund Insurance Co. v. Mexico
International Centre for Settlement of Investment Disputes
ICSID Case No. ARB(AF)/02/1, Award, July 17, 2006
Relevant factsFree
Fireman's Fund Insurance (plaintiff), a U.S. company, brought a NAFTA arbitration against Mexico (defendant), claiming Mexico facilitated the purchase of peso-denominated debentures held by Mexican investors while failing to equally facilitate the purchase of dollar-denominated debentures Fireman's Fund held, and arguing this unequal treatment amounted to an expropriation of its investment.
IssueFree
Whether an expropriation, for NAFTA purposes, requires a taking by a government-type authority that substantially and permanently deprives an investor of the economic use and enjoyment of a covered investment.