Facts of the case
According to Italy, and based on the facts described below, Cuba did not comply its treaty obligations. Therefore, Italy initiated diplomatic demarches for the settlement of disputes without success. By note of 16 May 2003, Italy notified Cuba its intention to resort to arbitration.
Italy acted not only as a subject directly harmed in its subjective rights guaranteed by International Law and the Agreement, but also exercised diplomatic protection on behalf of its investors, whose rights have been breached because of the behaviour of the Cuban authorities or actions of Cuban persons, mainly companies under the control of the State allegedly attributable to Cuba. The remedy claimed by Italy encompassed the following cases: (a) Caribe and Figuerella Project s.r.l. (Caribe); (b) Finmed s.r.l. (Finmed); (c) Icemm s.r.l. (Icemm); (d) Crystal Vetro SA; (e) Pastas y Salsas Que Chevere. and (f) Menarini Società Farmaceutica.