I am unable to share the conclusions of my fellow arbitrators, with whom it has been a pleasure and an honour to work, set out in paragraphs 274 and 287 of the Award. In those paragraphs, the Award determines that the First and the Second Sugar Decrees , and related conduct 1 of the Respondent, did not violate the Agreement on encouragement and reciprocal protection of investments between the Kingdom of The Netherlands and the Czech and Slovak Federal Republic of 29 April 1991 (the BIT). Given the significance of the legal issues involved, I feel obliged briefly to set down my opinion in relation to these two decrees.