Considering that:

1. Procedural Order No. 2 required Respondent to inform the Tribunal and Claimant of any intention to raise preliminary objections not later than two weeks after the date of submission of Claimant’s Memorial as agreed by the parties and communicated to the Tribunal on December 15, 2008.

2. Claimant filed its Memorial on July 10, 2009.

3. On July 24, 2009, Respondent informed the Tribunal and the Claimant of its intention to raise objections as a matter of law under Article 10.20.4 and also outside the parameters of this article under Article 41(1) of the ICSID Arbitration Rules as follows:

(a) to object to the advancement of Claimant’s claims based on ratione temporis grounds because, according to Article 10.1.3, Chapter 10 does not bind any Party in relation to any act or fact that took place before the date of entry into force of CAFTA; (b) to object because Claimant’s claims are based “on alleged government actions with respect to an investment which does not qualify as a ‘covered investment’ within the meaning of CAFTA Article 10.1.1(b) as it is not an ‘investment’ within the meaning of Article 10.28”; and