On February 20, 2015, an arbitral tribunal composed of Prof. Hans van Houtte, Prof. Merit E. Janow, and Prof. Philippe Sands QC issued an award in ICSID Case No. ARB(AF)/07/4, Mobil Investments Canada Inc. & Murphy Oil Corporation v. Canada.  For Canada’s violation of the North American Free Trade Agreement (“NAFTA”), the Tribunal awarded Mobil Investments Canada Inc. and Murphy Oil Corporation CDN$ 10,310,605 and CDN$ 2,273,635 for their incremental expenditures, plus interest at the 12-month Canadian Dollar LIBOR rate + 4%, compounded monthly, from July 23, 2012 to the date of the Award. With respect to the claimants’ shortfall losses, the Tribunal awarded the companies CDN$ 3,582,408 and CDN$ 1,127,612, respectively. The parties bore their own legal and other costs and split the costs of the arbitration equally.