Mealey's (December 18, 2015, 10:11 AM EST) -- THE HAGUE, The Netherlands — The Permanent Court of Arbitration (PCA) on Dec. 17 issued an award on jurisdiction, declining jurisdiction over arbitration brought by Philip Morris Asia Limited (Hong Kong) against the Commonwealth of Australia in relation to its tobacco packaging laws (Philip Morris Asia Limited [Hong Kong] v. The Commonwealth of Australia, No. 2012-12, PCA).

PMAL, the parent company of Philip Morris Australia, said in a news release that a tribunal has declined jurisdiction on the merits of PMAL's case against the Commonwealth of...