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Index/Topics/Indirect Expropriation

Indirect Expropriation

The concept of indirect expropriation in investment tribunals, including the substantial erosion or deprivation yardstick and different approaches to determining indirect expropriation.

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Jan 8, 2026

Which landmark cases define the indirect expropriation 'substantial erosion' test and how do they differ?

Investment tribunals have coalesced around a “substantial erosion” or “substantial deprivation” yardstick to decide when non‑posses­sory state measures amount to an indirect expropriation, but landmar...