This case-note analyses the international award recently published in the case of Philip Morris Asia Limited v. the Commonwealth of Australia. Engaging particularly with the application of the Arbitration Tribunal of the abuse of rights doctrine, the note addresses, in the light of this award, a series of questions that continue to perplex international investment lawyers. How should the concept of abuse of rights be defined? What is the status of the abuse of rights doctrine in international law? What is the relationship between the abuse of rights doctrine and the foreseeability test? What is the significance of the demonstration of bad faith on the part of an investor for the application of the abuse of rights doctrine?