Additional Facility Rules

Additional Facility Rules, Arbitration Agreements, Awards, Enforceability, Enforcement, New York Convention, Reciprocity, Recognition and enforcement of arbitral award

(Baker McKenzie) and (PARAGON Advocacy)/ /Leave a comment

In a recent decision, the Austrian Supreme Court ruled on the enforceability of an investor-state award rendered under the ICSID Additional Facility Rules. While the Supreme Court found that the award was — in principle — enforceable under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards from 1958 (“NYC“), it upheld the…

Additional Facility Rules, ICSID, International Investment Arbitration, Jurisdiction, Most Favoured Nation (MFN)

(Coz & Blavi)/ /Leave a comment

Introduction On November 2021, an Arbitral Tribunal issued the award in an investment arbitration case commenced by three subsidiaries of Kimberly-Clark against Venezuela. The claims where brought under the BITs between Venezuela and the Netherlands (Dutch BIT), Venezuela and Spain (Spanish BIT), and Venezuela and Belgium (Belgium BIT). The award, which is highly case-specific, established…