On 15 September 2017, the Chairman of the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID) designated new members to the Panel of Arbitrators and the Panel of Conciliators. This is momentous. For the first time, the lists contain an equal number of female and male members, and a geographical diversity…

Recently, it was reported that after 14 years since Zimbabwe had illegally evicted Dutch farmers from their farms, it finally agreed to pay the damages awarded under the ICSID award, which dates back in 2009. In the Funnekotter et al case, the arbitral tribunal rejected Zimbabwe’s necessity defence, which was based on the claimed need…

“BITs and arbitration centers, such as ICSID, are an expression of an unjust moral order”, said Ecuador’s former President, Rafael Correa, back in 2014. Such animadversion led the country to denounce all its bilateral investment treaties (BITs) earlier this year. The Latin American nation’s feud with BITs and the International Centre for Settlement of Investment…

Since the first application for provisional measures suspending criminal proceedings in Tokios Tokelés v. Ukraine (ICSID Case No. ARB/02/18, Order No. 3, 18 January 2005), the number of applications before ICSID tribunals for these types of measures has steadily increased. Recent applications have been widely commented on in the arbitration community, including in this blog….

“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.” (Anaïs Nin) Introduction and background On 12 July 2017, CMS Hong Kong and the Hong Kong International Arbitration Centre (HKIAC) hosted the fourth joint lecture in their quarterly series focusing on the…

The ICSID Tribunal in the case Eskosol S.p.A. in Liquidazione v. Italian Republic (ICSID Case No.ARB/15/50) has recently issued a Decision on Respondent’s Application under Rule 41(5) of the ICSID Rules of Procedure for Arbitration Proceedings (Arbitration Rules). In 2015, Eskosol filed a Request for Arbitration based on Italy’s claimed violation of the Energy Charter…

In October 2016, the ICSID advised the Member States of the ICSID Convention that it was beginning the fourth amendment process since the enactment of the definitive ICSID Arbitration Rules in 1967. The first amendment to the Rules took place in 1984 and mainly referred to the possibility to resort to national courts for provisional…

Three decades, two wars, one occupation, and multiple democratic elections later, I found myself back in my country of birth, Iraq, in April 2017. I was invited to Baghdad by the Iraq Energy Institute (IEI) as a speaker at the 2017 Iraq Energy Forum (IEF), under the patronage of the Iraq government and the Iraq…

Newspapers, cable television shows, and Twitter are abuzz with claims of “fake news.” Within the past two weeks alone, the U.S. President accused his predecessor of wiretapping his office building, apparently in reliance upon reporting in online news media. More traditional news outlets have responded with innuendo that the Director of the U.S. Federal Bureau…

ICSID tribunals have refused to hear the merits of investment treaty claims if a corrupt act was involved in contract formation, even where that corruption involved state actors. Consequently, the arbitral system—which was designed to ensure the neutral and apolitical resolution of investment disputes, inadvertently incentivizes states to “promote a corruption scheme in order to…

The beginning of 2017 has already been remarkable to contribute to discussions regarding counterclaims in investment arbitration: two recently finalized cases against Latin America states (Urbaser et al. v The Argentine Republic, ICSID Case No ARB/07/26 ; Burlington Resources Inc. v Republic of Ecuador, ICSID Case No. ARB/08/5) provide several noteworthy points for further debates…

New years are a great opportunity to take stock and to prepare for future developments, despite the obvious difficulties in predicting what the main trends will be. This is also the case for 2017. Looking back to 2016 there are two topics that immediately stand out: gender diversity and transparency. Both topics were subject to…

Co-authored with Ivaylo Dimitrov, George Washington University Law School Foreword A recent award rendered in the case of Standard Chartered Bank (Hong Kong) Limited v. Tanzania Electric Supply Company Limited (TANESCO) (ARB/10/20, Award, 12 September 2016) (hereinafter: “SCB HK v. TANESCO”) seems to put an end to a dispute which had sparked lately relating to an arbitral…

As Professor Luke Nottage and Dr. Jarrod Hepburn have observed in a forthcoming case note,1)Hepburn, J., Nottage, L. (2016), Case Note: Philip Morris Asia v Australia (Forthcoming), Journal of World Investment and Trade the most recent ruling in the long-running case of Philip Morris Asia v Australia has highlighted the consequences of agreeing to arbitrate…

“When Justice Delayed Would be Justice Denied: Emergency Arbitrators and Interim Measures in International Arbitration” was the subject of the 28th Annual Workshop of the Institute for Transnational Arbitration (ITA), which took place on 16 June 2016 in Dallas, Texas. Under the leadership of ITA’s Chair, Abby Cohen Smutny (White & Case), and the conference…

Favorable ICSID awards are undoubtedly a valuable commodity.  By virtue of the ICSID Convention, which features 153 Contracting States, such awards are automatically enforceable in nearly 80% of countries around the world.  But enforcement of an award is only half of the equation; award holders must also navigate the separate, but equally important, task of executing the…

The epitome – and uncontroversial part – of the legitimate expectations doctrine is that a sovereign’s failure to live up to its promises made towards an investor who relied on such promise to make an investment – or to continue an investment – is a breach of the fair and equitable treatment standard. Practice has,…

On June 6, 2016, the ICSID Secretary General registered a request for arbitration in Global Telecom Holding (GTH) v. Canada. Although the text of the arbitral claim is not yet public, it appears likely that the dispute relates to GTH’s involvement (or attempted involvement) in Canada’s wireless telecommunications sector. This claim may be historic for…

In two recent cases, ICSID tribunals have been asked to consider applications for provisional measures relating to criminal proceedings initiated against the claimants. On 3 March 2016, the tribunal in Hydro S.r.l and others v. Republic of Albania (ICSID Case No. ARB/15/28) (the Hydro case) partly granted a request to recommend the suspension of criminal…

Bruchou, Fernandez Madero & Lombardi Abogados Until recently, recognition and enforcement of investment awards remained untested before Argentine courts. This changed in 2015. On August 18, 2015, Chamber A of the National Court of Appeals on Commercial Matters, rendered a judgment on the recognition of an ICSID award in the court case “CCI – Compañía…

In recent years, ICSID has provided an increasing level of detail and transparency about the practice and procedure of ICSID Convention and ICSID Additional Facility arbitrations. The ICSID Secretariat has done so in a variety of ways: on its website, in Annual Reports, in The ICSID Caseload: Statistics, as well as in one-day primers it…

This is Part II of a previous blog, discussing a recent Award dated 27 October 2015 rendered in ICSID Case No. ARB/11/33 – Adel A Hamadi Al Tamimi v. Sultanate of Oman and dismissing all claims against Oman (see Part I of the blog). By way of reminder, the claims brought in these ICSID proceedings…