Piero Foresti, Laura de Carli & Others v. The Republic of South Africa, ICSID Case No. ARB(AF)/07/01 (Italy/South Africa and BLEU/South Africa BIT), Award and Concurring Statement of Arbitrator Matthews
he International Centre for Settlement of Investment Disputes (“ICSID” or “the Centre”) received on 8 November 2006, under cover of a letter of 1 November 2006, a request for the institution of arbitration proceedings under the Additional Facility Arbitration Rules (“the Request”) by Piero Foresti, et al. (“the Claimants”) against the Republic of South Africa (“South Africa” or the “Respondent”). The Request was filed by eight Claimants including (i) five Italian nationals, members of the Foresti family of Carrara in Italy (“the Marlin Investors”); (ii) two Italian nationals, members of the Conti family of Carrara in Italy (“the RED Investors”); and (iii) a company, Finstone s.à.r.l., incorporated in Luxembourg (“Finstone”). 1 A list describing the nature of each Claimant, their address and, where relevant, place of incorporation, was attached to the Request. The proceedings were brought pursuant to the provisions of the Agreement between the Government of the Republic of South Africa and the Government of the Italian Republic for the Promotion and Protection of Investments, signed in Rome on 9 June 1997 (the “Italy BIT”) and the Agreement between the Republic of South Africa and the Belgo-Luxembourg Economic Union on the Reciprocal Promotion and Protection of Investments, signed in Pretoria on 14 August 1998 (the “Luxembourg BIT”) (together “the BITs”).