In 1997, the arbitral tribunal established to resolve a dispute between Eritrea and Yemen invited the Permanent Court of Arbitration (PCA) to act as its Registry. This first major international arbitration to be administered by the PCA in decades marked a watershed in the process of revitalizing the nearly century-old organization. A mere eight years later, the PCA has a full and varied docket, not limited to disputes between sovereign States, involving parties of many different nationalities. These include a dispute between the Swiss-based Bank for International Settlements and its private shareholders, two tribunals established under the OSPAR and UNCLOS Conventions in a dispute between Ireland and the United Kingdom, an investment dispute involving a subsidiary of a major Japanese concern and the Czech Republic, and the Boundary and Claims Commissions established by the peace treaty between Eritrea and Ethiopia. By the time the second Eritrea-Yemen award was delivered in December 1999, the PCA had celebrated its centenary and effectively transformed itself from “the sleeping beauty of the Peace Palace” into a dynamic institution for the resolution of all types of inter-governmental and international disputes, with an expanded staff representing over ten different nationalities. The importance of the Eritrea-Yemen Arbitration, however, extends far beyond its contribution to the “comeback” of the PCA.