The Swiss Federal Supreme Court has upheld the first- ever investor-state award issued against the People’s Republic of China, which was secured by King & Spalding partners Gary Born, Rachael Kent, Danielle Morris, and Jonathan Lim for UK investor Jason Yu Song*. On 2 October 2026, the Swiss Federal Supreme Court dismissed China’s set aside request in its entirety, ordering China to pay court costs and a share of Mr. Song’s expenses in the Swiss proceedings.
In the award, which was issued in a Geneva-seated ad hoc arbitration under the UK-China Bilateral Investment Treaty in January 2025, the three-member arbitral tribunal unanimously held that China unlawfully expropriated Mr. Song’s investment and awarded Mr. Song over US$60 million, including interest and a substantial share of his legal fees. The tribunal had also upheld jurisdiction over the claim in a partial award dated 30 December 2021. The Swiss Federal Supreme Court had previously dismissed China’s two requests to revise the tribunal’s partial award on jurisdiction, in judgments dated 17 April 2025 and 26 June 2025 respectively.
Third-Party Coverage:
First investor-state award against China upheld (Global Arbitration Review)
*While at their previous law firm.