Orla Mining v. Panama (Procedural Order No. 5 (Decision on Bifurcation))
ICSID · Investment (ICSID and treaty) · International (investor-state) · Jan 7, 2026
Why it matters
Orla Mining v. Panama is an investment-treaty arbitration, in which a foreign investor argued that a state had fallen short of the protections it had promised under a treaty. Disputes of this kind turn on the balance between an investor's protections and a state's freedom to regulate in the public interest. The tribunal's full reasoning, and any sum awarded, are set out in the original.
Summary
This is the procedural order no. 5 (decision on bifurcation) in Orla Mining v. Panama, handed down on 7 January 2026. It belongs to the world of investment-treaty arbitration, in which a foreign investor brings a claim against a state, saying the state has breached the protections promised to investors under a treaty. The matter was administered by ICSID, the usual machinery for disputes of this kind. italaw is the established open archive for this field, and this entry points to its record; the tribunal's full reasoning, and any sum it awarded, are set out in the document itself.
The detail
Parties: Orla Mining v. Panama
Case number: See italaw record
Outcome: Procedural Order No. 5 (Decision on Bifurcation) in Orla Mining v. Panama. The disposition is set out in the original.
Applicable law: The applicable investment treaty; ICSID, UNCITRAL or ad hoc arbitration rules.
Issues in play: A foreign investor's treaty protections weighed against a sovereign state's exercise of its powers.
Read the full decision at italaw ↗
Locus Standi links to the source decision and publishes its own plain-language summary. It does not reproduce the text of the award.