The question in this case is whether the Award on Jurisdiction of 17 May 2007 in Malaysian Historical Salvors v. Malaysia1 should be annulled on the sole ground invoked by Malaysian Historical Salvors Sdn., Bhd. (the “Applicant” or the “Salvor”), namely, that the Tribunal manifestly exceeded its powers by failing to exercise a jurisdiction over the dispute with which it was endowed under the Convention on the Settlement of International Disputes between States and Nationals of Other States2 (the “ICSID Convention”) and by the terms of the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Malaysia for the Promotion and Protection of Investments (the “Agreement” or “BIT”). A particular question under the ICSID Convention is whether the resources spent by a company that contracted with the Government of Malaysia to salvage a shipwreck constitute an investment in that State within the meaning of Article 25(1) of the ICSID Convention. Monetarily, the case is a small one, but, as will be seen, it involves larger issues.