Swiss Supreme Court dismisses challenge to OIC Agreement award after arbitrator appointed via MFN clause

In Decision 4A_78/2024, the Swiss Supreme Court dismissed Libya's application to set aside an award rendered by a Geneva-seated tribunal in an arbitration under the Investment Agreement of the Organization of the Islamic Conference (OIC Agreement). The court confirmed that the tribunal had been validly constituted after the presiding arbitrator was appointed via the mechanism provided for in the France-Libya bilateral investment treaty, which was applied by virtue of the OIC Agreement's most favoured nation (MFN) clause.