ICSID tribunal orders Zimbabwe to pay USD 196 million

In a recently published award, an ICSID tribunal ordered Zimbabwe to pay USD 196 million to several Swiss and German farmers whose farms were violently expropriated by order of President Mugabe.

This is the second ICISD award (a couple of years ago another ICSID tribunal had ordered Zimbabwe to compensate Dutch farmers) which found Zimbabwe’s so-called black empowerment policy to be nothing else than discrimination based on grounds of race.
This is a tellingly example of how important and useful Bilateral Investment Treaties (BITs) are as a last resort to obtain compensation for the total destruction of foreign investments.
It now remains to be seen whether Zimbabwe will honour its obligations and pay the compensation.