ICSID

Canada, ICSID, ICSID Arbitration, Investment Arbitration, Investor-State arbitration, NAFTA, Suspension of Proceedings, USMCA

(Carleton University)/ /Leave a comment

For the first time under Rule 54(2) of the ICSID 2022 Arbitration Rules, the Tribunal in Ruby River Capital LLC v. Canada (ICSID Case No. ARB/23/5) had to decide on a request for suspension of the proceeding. In its Request for Suspension, Canada asked the Tribunal to suspend the proceeding until the Tribunal in TC…

Advisory Centre, ICSID, PCA, Permanent Court of Arbitration, UNCITRAL, UNCITRAL WG III Series, UNCITRAL WG3 Series

(Bocconi University)/ /Leave a comment

On 8 April 2024, following lengthy discussions dating back to 2019, the UNCITRAL Working Group III (“WGIII”) completed the draft statute of an advisory centre on international investment dispute resolution (“Advisory Centre”) (see previous coverage). The statute, incorporating inputs from over 70 state delegations and 40 international organisations, will be presented for approval at the…

Expropriation, ICSID, Investor-State arbitration, Latin America, Panama

, (Reed Smith)/ /1 Comment

In the 2022 case of Omega Engineering LLC and Oscar Rivera v. Republic of Panama (ICSID Case No. ARB/16/42), the Tribunal faced the challenge of distinguishing between a state’s sovereign acts and its commercial activities. This case raised the critical question of when a state’s conduct shifts from exercising sovereign authority to acting as a…

ICSID, Recognition and enforcement of arbitral award, Sovereign Immunity, UK, Zimbabwe

(3 Hare Court)/ /Leave a comment

On 19 January 2024, the High Court of Justice of England and Wales gave judgment in Border Timbers Ltd v Republic of Zimbabwe [2024] EWHC 58 (Comm). The decision of Dias J considered, in detail, the application of the UK State Immunity Act 1978 (“SIA”) to the registration, enforcement, and execution of ICSID arbitral awards…

ESG, ICSID, Latin America

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Asociación Latinoamericana de Arbitraje (ALARB)

Traditionally, investor-state dispute settlement (“ISDS”) has not been linked to Environmental, Social, or Governance principles (“ESG”). At least not explicitly. Nevertheless, a growing number of arbitrations revolve around matters like environmental permits, green incentives, the need for a “social license,” and corruption. Interestingly, these matters have arisen even in the absence of explicit ESG regulations…

Arbitration, Conference, Energy Dispute, ICSID, Investment, Latin America

(Clyde & Co)/ /Leave a comment

Clyde & Co LLP partnered with Jus Mundi and Queen Mary University of London (“QMUL”) School of International Arbitration to bring together a number of speakers on the development of arbitration and practice of investment in the Latin American (“LatAm”) region. The event kicked-off with a review of Jus Mundi’s latest energy arbitration report which…

ICSID, Investment Arbitration, Investment Disputes, Latin America

(Jana & Gil Dispute Resolution)/ /Leave a comment
Asociación Latinoamericana de Arbitraje (ALARB)

It was 8:45 am in Santiago de Chile on August 30, 2023, and the Centro de Arbitraje y Mediación de la Cámara de Comercio de Santiago’s – CAM Santiago venue was full for the seminar “Tendencies in Investment Arbitration in Latin-America: Current Issues and Challenges.” Among attendants were academics, practitioners, government officials, and arbitrators, who…

Code of Conduct, double hatting, ICSID, Independence and Impartiality, UNCITRAL

(Khan Saifur Rahman & Associates)/ /Leave a comment

Double hatting and insufficient disclosure by the arbitrators have been problematic features of investment arbitration. Double hatting is generally regarded as an individual simultaneously playing the role of counsel and arbitrator in similar matters. The real issue is whether these concerns have the potential to affect the arbitrator’s ability to form “independent judgment,” as described…

Brazil, Dispute Resolution, ICSID, Investment, Investment Arbitration, Investment Disputes, ISDS, ISDS Reform, Latin America

(Justen, Pereira, Oliveira & Talamini) and (University of Cambridge)/ /Leave a comment

“Corporations have their own global private court system – called ISDS – which they use to bully governments. But many victims of corporate human rights abuses don’t have any way of winning justice. This is unfair. We need to end these corporate courts now! Rights for people, rules for corporations.”  Letter from the Stop ISDS…

Constitutional Court, Constitutional proceeding, Ecuador, ICSID, ICSID Arbitration

(MIDS - Geneva Center for International Dispute Settlement)/ /Leave a comment

In a new chapter of Ecuador’s backlash to the Investor-State Dispute Settlement (ISDS) system saga, the Constitutional Court of Ecuador (Court) declared Art. 15.20 of the Ecuador-Costa Rica FTA (FTA, Treaty) unconstitutional. This provision provides for ICSID or UNCITRAL arbitration in case of violation of the substantive protections accorded to foreign investors in the Treaty…

Arbitrators, Conflicts of interest, Corruption, Decision Making, IBA Guidelines on Conflicts of Interest, ICSID, In House Counsel, Independence and Impartiality, Institutional Arbitration, International arbitration, ISDS, Law Firms, Technology, UNCITRAL

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International arbitration is a constantly evolving field, shaped by global shifts, technological advancements, and changing expectations. On 31 August 2023 and 1 September 2023, the ICAL Alumni Association held the ICAL 20th Anniversary Conference entitled “Evolution or Revolution: Have We Mastered International Arbitration or Do We Need a New Blueprint for the Future?”. Carolyn Lamm’s (White &…

Achmea, EU Law, German Federal Supreme Court, ICSID

(Bucerius Law School and Latham & Watkins LLP)/ /3 Comments

Seven years ago, Germany’s Federal Court of Justice (Bundesgerichtshof, BGH) set off an avalanche that buried most of the European investment arbitration landscape. The BGH’s order of June 3rd 2016 referred to the Court of Justice of the EU (CJEU) a long debated question: Are intra-EU investment arbitrations compatible with EU law? They are not,…

Belt Road Initiative, China, Conference, ESG, ICSID, Judicial intervention, UNCITRAL, United States

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Columbia Arbitration Day (CAD), held on April 14, 2023, enjoyed record attendance levels this year and was held in the historic Low Memorial Library, a fitting venue for the first in-person CAD since before the COVID-19 pandemic.   The Judiciary in International Arbitration Proceedings The morning began with a panel moderated by Professor Alejandro Garro…

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…

Corruption, Croatia, ICSID, Standard of Proof

(Brunel University London)/ /Leave a comment

The current debate on the future of the Investor-State Dispute Settlement (ISDS) system seems not to leave anyone indifferent. Two camps can be discerned in the debate; the first comprising those who would argue that ISDS is in need of reform, and the second those who defend the ISDS system as is. The MOL v….

ICSID, ICSID Arbitration, ICSID denunciation, ICSID Proceedings

(Institute of International and European Law Georg-August-Universität Göttingen)/ /2 Comments

Considering the many ongoing discussions, especially in academia, on the perceived shortcomings, evils and presumable demise of Investor-state Dispute Settlement (ISDS), it is sometimes easy to forget that the system is alive and kicking and we should not be throwing in the towel just yet. Thankfully, last month ICSID published its Annual Report for the…

Code of Conduct, conflict of interest, Disclosure, ICC Arbitration, ICDR, ICSID, New York Arbitration Week

(Willkie Farr & Gallagher)/ /Leave a comment

The 2022 New York Arbitration Week opened on 14 November 2022 with the Joint Colloquium co-organized by AAA-ICDR, ICC, and ICSID.  The Colloquium tipped its hat to the Week’s overarching theme “who is in charge?”  That is, why and how the objectives and expectations of various parties involved in international arbitration — such as clients,…

ICSID, International Investment Arbitration, Recognition and enforcement of arbitral award, Ukraine

(Genesis) and (Sayenko Kharenko)/ /1 Comment

Despite the ongoing Russian full-scale invasion of Ukraine and constant terror, Ukrainian courts continue to function and deliver justice. Recently, the Supreme Court has adopted a landmark judgment regarding the enforcement of ICSID awards in Ukraine, which is set to change judicial practice going forward. Our colleagues previously highlighted the deficiencies of the Ukrainian court…

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…

Code of Conduct, Conflicts of interest, Disclosure, double hatting, ICSID, Independence and Impartiality, Institutional Rules, Investment Arbitration

(Chaffetz Lindsey LLP) and (Holland & Knight LLP)/ /Leave a comment

The New York International Arbitration Center’s (“NYIAC”) annual Grand Central Forum took place on 13 July 2022. The event coincided with the 55th session of the United Nations Commission on International Trade Law (“UNCITRAL”) held in New York which, among other topics, focused on the recent fourth draft of the joint ICSID-UNCITRAL Code of Conduct…

Arbitration Institutions and Rules, Code of Conduct, Disclosure, ICSID, Investment Arbitration, UNCITRAL

(Association ARBITRI)/ /Leave a comment

Two years since it was published, the draft of the Code of Conduct for Adjudicators in International Investment Disputes is still subject to discussion and refinement by States and other stakeholders participating in the UNCITRAL Working Group III (WG III). This evolving instrument, developed jointly by the ICSID and UNCITRAL Secretariats, is the first attempt…

ICSID, International arbitration, Investment, Investment Arbitration, Jurisdiction

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The debate surrounding the meaning and scope of the term ‘investment’ under the ICSID Convention is a product of the larger tussle between capital exporting and capital importing states, which convened at Washington in the search for a mutually beneficial agreement on foreign investments. It has been argued by Prof. Julian Davis Mortenson that ‘investment’…

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

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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…