Court’s determination: 11. It is common ground herein that the ILC Articles do constitute customary international law. This position was stated in the case of Noble Ventures Inc. vs. Romania ICSID Case No. ARB/01/11, 2005, to which this Court was referred by learned Counsel for the Applicant. 12. In that case, a State-owned enterprise was divested to Noble Ventures Inc. by the Romanian State Ownership Fund (SOF), a public institution with legal personality that was responsible for the implementation of the Romanian Government’s privatization program. The privatization agreement between Noble Ventures Inc. and SOF was grounded in an underlying bilateral investment treaty (BIT) between Romania and the United States of America (USA). Six months after the conclusion of the privatization transaction there was a change of Government in Romania, SOF was replaced by the Authority for the Privatisation and Management of the State Ownership (APAPS) and Noble Ventures Inc. encountered a series of operational problems arising from SOF’s alleged derogation of its commitments under the privatization agreements. NobleVentures Inc. sought to hold Romania responsible for SOF’s conduct, contending that it amounted to breach by Romania of its obligations under the BIT. It was held: “As States are juridical persons, one always has to raise the question whether acts committed by natural persons who are allegedly in violation of international law are attributable to a State. The BIT does not provide any answer to this question. The rules of attribution can only be found in general international law which supplements the BIT in this respect. Regarding general REFERENCE No. 10 OF 2013 Page 6