We hope everyone is enjoying their summer holiday (if you're fortunate enough to have one)! As you relax, we have another great episode for you. First, Brian treats us to a review of the partial annulment of the Khudyan v. Armenia award concerning issues of dual nationality [TIME 6:35]. For HFT, we invite back Jonathan Passaro for another great interview concerning the dreaded annual reviews [TIME 26:47]. Don't forget to register for the 20th Anniversary ICAL Conference in Stockholm here: https://www.icalalumni.org/2023-ical-conference

Saadia and Brian discuss whether government bailouts can be a basis for investment arbitration claims? In this second episode of the season, a recently published decision on the issue serves to set the scene on the now much talked about Credit Suisse saga.* [TIME 00:02:38] During Happy Fun Time, we ponder whether arbitration lawyers have become ambulance chasers and if so, is that ok? [TIME 00:21:08] *Since the recording of this episode we have learned that Japanese bondholders, in addition to Singapore bondholders, are also contemplating a treaty claim against Switzerland following the AT1 bond wipe out.