Jurisdiction — Whether breach of contract or breach of treaty — Whether conduct of State organ an act of State — Whether corporate rights an asset — Whether contractual rights to IPO an asset — Whether waiver of BIT claims — Whether breach of BIT by omission as well as by act — Relevance of umbrella clause

Expropriation — Change in privatization strategy — Whether breach of obligation to treat fairly and equitably — Whether breach of obligation to provide full security and protection — Relevance of umbrella clause