Extract to table

That law mandates that, prior to the revocation of a hydrocarbon concession or operating license, the concessionaire must be afforded a formal hearing, the revoking authority must issue a reasoned decision, and a compensation valuation process must be completed

Article 3 of the BIT provides that investments of nationals or companies of each Contracting Party shall at all times be accorded fair and equitable treatment and shall enjoy full protection and security in the territory of the other Contracting Party

The compensation shall amount to the fair market value of the investment expropriated immediately before the expropriation or before the impending expropriation became public knowledge, whichever is the earlier, shall include interest at a normal commercial rate until the date of payment, shall be made without unreasonable delay, be effectively realizable, and be freely transferable

Legal Standard Article 5 of the UK-Valderia BIT prohibits the expropriation or nationalization of investments of nationals or companies of either Contracting Party except where four cumulative requirements are satisfied: (1) the expropriation must be for a public purpose related to the internal needs of the expropriating state; (2) the expropriation must be non-discriminatory; (3) the expropriation must be carried out in accordance with due process of law; and (4) the expropriation must be accompanied by the payment of prompt, adequate, and effective compensation at fair market value

The host state must act with transparency in its dealings with the investor and must afford the investor procedural fairness, including the right to be heard, the right to a reasoned decision, and access to an effective remedy

The host state must exercise its sovereign powers in good faith and may not use its regulatory authority as a pretext for the taking of investment assets