As a student in Ireland, US, and Sweden, I came to learn that I was not only studying contracts, or torts, or constitutional law, but rather “contracts with Professor Hedley”, “torts with Professor O’Callaghan”, “constitutional law with O’Mahony”, and so on. Fast-forward some years later, my own students do not take the general course of…
This post deals with the conceptual underpinnings and theoretical justification for the practice of counterclaims in investment arbitration. First, it is important to delineate this post from an analysis of counterclaims case-law in investment arbitration, as ample accounts of the counterclaim debate in practice can be found here, here, and here. Equally, this post does…
Debates about the fragmentation of international law and the sometimes conflicting relationship between a state’s and investor’s obligations under international investment law (“IIL”), on the one hand, and public international law and domestic law, on the other, have gained renewed relevance for investment arbitration. Issues related to the interactions between these regimes have featured in…
Antonio R. Parra led a lengthy and luminous career of international public service, having held various roles in the OPEC Fund and the World Bank. Of special interest to our readers is that from 1990 to 1999 Mr. Parra was Legal Adviser at the International Centre for Settlement of Investment Disputes (ICSID), and then from…
From 20-26 July last year, this Blog ran a series on the Energy Charter Treaty (ECT) modernisation process. The Energy Charter Conference (the Conference) had recently established a Modernisation Group (the Subgroup) to conduct the modernisation negotiations, and the series aimed to provide updates to readers on various aspects of that process. At the time…
Introduction In spite of delays and shifting priorities owing to the pandemic, institutional efforts to reform the investor-state dispute settlement (ISDS) regime have continued throughout 2020. In this post, we look back at our coverage of the work of UNCITRAL Working Group III (“WGIII”) on investor-State arbitration reform, especially in light of the 2021 reform…
The investment protection mechanism in the Energy Charter Treaty (ECT) is meant to, among other things, promote, attract, and protect foreign investments in the member states’ energy sectors. In 2018, the Energy Charter Conference announced its list of approved topics for the modernization of the ECT. The list included several substantive investment protection provisions. This…
A widespread debate on the legitimacy of (and backlash against) investor state dispute settlement (ISDS) has been on-going for several years now. Put colloquially, this debate asks essentially whether ISDS in its current form is capable of handling international investment disputes, generally, and such disputes that implicate a public interest element, in particular. Moreover, it…
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…
Introducing the Rules Playing its part in the twenty-first century movement to protect human rights, the international legal community has taken a significant step forward by providing for a framework to resolve business and human rights disputes by arbitration. Lead by the former ICJ justice, Judge Bruno Simma, The Hague Rules on Business and Human…
Arbitration in the 21st Century requires some bold, fresh thinking. We must seek flexibility and innovation if legal civilization is to survive. 1) Thomas E. Carbonneau, The Law and Practice of United States Arbitration, xxix (6th. ed. 2018) Similarly, when the market speaks strongly, we should listen very carefully. We believe that open and free…
Introduction Pursuant to Article 47 of the ICSID Convention, an ICSID Tribunal may “recommend any provisional measures which should be taken to preserve the rights of either party”. The use of “recommend” is concerning. Its lack of imperative character triggers a debate on whether ICSID provisional measures have legally binding effect, i.e. require mandatory state…
Introduction The issues pertaining to “sovereign immunity” in international arbitration are not new. Nevertheless, several aspects remain unresolved.1)Kaj Hobér, Sovereign Immunity and International Arbitration – Recent developments, Arbitrators’ Insights, Essays in Honour of Neil Kaplan (Sweet & Maxwell, 2012), 91. Sovereign immunity from execution is said to be “the last fortress, the last bastion of State…
The central point of this note is that the U.S. law of arbitration is not clear from the text of the Federal Arbitration Act (FAA). The FAA is archaic and in need of updating. The FAA is the oldest – but still functioning – arbitration statute in the world. Case law has rewritten much of…
Introduction This short note briefly touches upon two enforcement issues pertaining to third-party funding in international arbitration, one more ventilated than the other. It is hoped that our comments on these issues will be perceived as an insightful contribution to an already ignited debate, with the caveat that we provide for a discussion rather than…
Third-party funding remains a hot topic in arbitration, which is understandable considering its complexity and that its accompanying issues often have major implications for arbitral procedure. This fall, the ICCA-Queen Mary Task Force on third-party funding in international arbitration released its “draft,” touching upon a number of contemporary issues vis-á-vis third-party funding, all of which…
