ICSID Amendments

2022 in Review, ECT Modernisation, Energy Charter Treaty, ICSID, ICSID Amendments, ICSID Arbitration, ISDS Reform, UNCITRAL

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2022 was strongly marked by the change and reform of institutions, treaties, and procedural rules relevant to investor-State dispute settlement (ISDS). This post summarizes the most important institutional and structural reforms that were progressed during 2022 in relation to investment treaty law and ISDS. The focus is on the various reforms pursued under in the…

ICSID, ICSID Amendments, ICSID Arbitration

, (British Institute of International and Comparative Law (BIICL))/ /Leave a comment

The British Institute of International and Comparative Law (“BIICL”), and DLA Piper, recently organized an event titled Revised ICSID Arbitration Rules: Key Changes. Following the initial presentation of Martina Polasek (ICSID Secretariat), Prof. Yarik Kryvoi (BIICL), Kate Cervantes-Knox, (DLA Piper), Guglielmo Verdirame KC (Twenty Essex) and Dr. Anthony Sinclair (Quinn Emanuel Urquhart & Sullivan) shared…

ICSID, ICSID Amendments, ICSID Proceedings, International arbitration, Investment Arbitration, Third party funding

(Cleary Gottlieb Steen & Hamilton LLP)/ /Leave a comment

On March 21, 2022, the Member States of the International Centre for Settlement of Investment Disputes (“ICSID”) approved a comprehensive reform of its rules and regulations, including the rules of procedure for ICSID arbitration proceedings (“New ICSID Rules”). Drafted over a five-year consultation process and six working papers, this profound amendment aims to “modernize, simplify,…

ICSID, ICSID Amendments, ICSID Arbitration, International dispute resolution, Investment Arbitration, Investment Disputes, Investment law, Uncategorized

(Consultant, World Bank)/ /1 Comment

On 21 March 2022, the Administrative Council of the International Centre for Settlement of Investment Disputes , or ICSID, approved extensive amendments  of ICSID’s Regulations and Rules. The Regulations and Rules prominently include the rules of procedure for arbitration proceedings initiated under the constituent treaty of ICSID, the 1965 Convention on the Settlement of Investment…

ADGM, Advocacy, Corruption, ESG, ICSID, ICSID Amendments, MENA, Sovereign Wealth Funds, state-owned

(Hadef & Partners)/ /Leave a comment

On 17 March 2022, Abu Dhabi witnessed an event which was five years in the making: a joint-conference by ICSID and the Abu Dhabi Global Market (ADGM) titled “Investment Arbitration in the Middle East”. This post recaps some highlights from the event, as well as offering further views and commentary.   Event Kick-off and Its…

Arbitration Proceedings, ICSID, ICSID Amendments, ICSID Arbitration, ICSID Convention, ICSID Procedure, ICSID Proceedings, Interviews with Our Editors, Reform

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On January 20, 2022, ICSID concluded a five-year consultative process leading to the publication of a set of amended rules for ICSID and ICSID (Additional Facility) proceedings. On March 21, 2022, ICSID announced that its Member States had approved these amendments. Accordingly, the 2022 ICSID Regulations and Rules will come into effect on July 1,…

Arbitration, Conciliation, ICSID, ICSID Amendments, Mediation, Mediation and Dispute Management

(International Centre for Settlement of Investment Disputes)/ /Leave a comment

In 2021, ICSID conducted an extensive survey of dispute resolution clauses in bilateral investment treaties (BITs), free trade agreements (FTAs) and other treaties (including model treaties). The data set comprised more than 900 treaties, from which nearly 350 clauses were identified for closer analysis. The overarching goal of the survey was to see to what…

BIT, Counterclaims, ICSID, ICSID Amendments, ICSID Arbitration, ICSID Convention, ICSID Proceedings, International arbitration, Investment Arbitration, Investment law, ISDS, ISDS Reform, Third party funding

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On January 20, 2022, ICSID submitted its amended rules to the Administrative Council for a vote, marking the end of the five-year-old process of modernizing the ICSID Rules. ICSID members are expected to cast a vote on the amended rules by March 21, 2022, and if approved, the rules will enter into force on July…

2021 in Review, ICSID Amendments, Investor-State arbitration, ISDS Reform, ITA, UNCITRAL, UNCITRAL WG III Series, UNCITRAL WG3 Series

and (The Australian National University)/ /Leave a comment

The year 2021 has been perhaps the most controversial year for investment arbitration. From the profound structural reform work with respect to the ICSID and UNCITRAL rules, through the complete ban and termination of intra-EU investment arbitration in the European Union, to the ECT modernization process, this year has been marked by change and reform…

Arbitration, Arbitration Proceedings, Human Rights, ICSID Amendments, International arbitration, Investment Arbitration, Reform, Working Group III

(Georgetown Law) and (Columbia Law School)/ /Leave a comment

Reforms Are Afoot Calls for investor-State dispute settlement (“ISDS”) reform have catalyzed efforts to evolve the regime. Concurrently, the ISDS system continues to wrestle with tensions between an investment regime primarily oriented towards protecting investor rights, and the human rights normative architecture for protection of individual rights and associated State obligations for protection of such rights. ISDS…

Arbitral Tribunal, Arbitration, Arbitration institution, Arbitration Institutions and Rules, ICSID, ICSID Amendments, ICSID Arbitration, ICSID Procedure, ICSID Proceedings, International Investment Arbitration, Investment Arbitration, ISDS, ISDS Reform, Reform

(Durham Law School) and (Australian National University)/ /Leave a comment

Last month, ICSID published a further Working Paper (WP4) linked to its ongoing reform process, by which it is considering a series of amendments to the ICSID and ICSID Additional Facility Rules. The Working Paper is the fourth in a series of working papers, preceded by Working Papers 1 (August 2018), 2 (March 2019), and…

ICSID Amendments, Transparency in investment arbitrations, UNCITRAL Transparency Rules

(Trinity College Dublin, School of Law)/ /Leave a comment

The ICSID reform bells are ringing. ICSID has long been working on its latest rule amendment project, intent on modernising, simplifying and streamlining the ICSID rules also in light of ongoing criticisms of the investment arbitration system as a whole. From November 11-15, 2019, ICSID held what it hopes to be the final, or at…

ICSID, ICSID Amendments, ICSID Arbitration, Provisional measures, Security for Costs

(Meitar Law Offices)/ /Leave a comment

A. Introduction The ICSID Convention and the corresponding Arbitration Rules contain certain provisions that, apparently, are not uniformly applied by arbitral tribunals. Article 47 of the ICSID Convention can be considered as one of them. In light of the proposal for new ICSID Arbitration Rules, a discussion about the use of provisional measures in the…

ICSID Amendments, Investor-State arbitration, Security for Costs, Third party funding, Venezuela

(Quinn Emanuel Urquhart & Sullivan, LLP)/ /Leave a comment

“The problem with money,” wrote the American poet and philosopher Ralph Waldo Emerson, “is that it costs too much.” This may soon ring all too true for some investment treaty arbitration claimants and the third parties that seek to fund their claims. Recent developments suggest that there may be support – albeit embryonic – for…