ICSID

Foreign Investment Law, ICSID, ICSID Arbitration, Investor-State arbitration, investor-State arbitration and mediation, ISDS, Uncategorized

(Rommel St. Hill Attorneys-at-Law & International Consultancy)/ /2 Comments

The investor-State dispute settlement system (ISDS) is increasingly confronted with disputes related to climate-related measures. Consequently, this fora has been described as the new frontier in climate-change disputes, as tribunals are slowly becoming a de facto source of climate policy making that directly impacts the regulatory landscape. This blog post discusses the following issues: (i)…

ICSID, ICSID Convention, Investment Arbitration, Recognition and enforcement of arbitral award, Turkey, Turkish Court of Cassation

, (Baysal & Demir Law Firm)/ /Leave a comment

It is trite to suggest that the awards rendered under the aegis of the International Centre for Settlement of Investment Disputes (“ICSID”) are insulated from national court review. In the context of recognition and enforcement, national courts are not permitted to examine ICSID arbitral awards. In 2006, 50 years after the ICSID Convention came into force, commentators…

Arbitral Award, Arbitration clause, Canada, Colombia, ICSID, ICSID Arbitration, International environmental disputes, Treaty Interpretation

(LALIVE) and (Homburger)/ /Leave a comment

Environmental concerns now play an increasing role in investment disputes. In this regard, this post analyses the interpretation of an environmental carve-out in an investment treaty in the decision on jurisdiction and liability in Eco Oro Minerals Corp. (“Eco Oro”) v. Colombia.   Background and Award This dispute arose from Colombia’s measures adopted in connection…

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

and (Australian National University)/ /Leave a comment

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…

Corporate Restructuring, ICSID, ICSID contract-based disputes, ICSID Convention, ICSID denunciation, MFN extension, Peru, Sunset clause

(GST LLP) and (B. Cremades & Asociados)/ /Leave a comment

Before winning Peru’s presidential race in June 2021, Peruvian President Pedro Castillo vowed to withdraw Peru from the ICSID Convention and to renegotiate several of the country’s Bilateral Investment Treaties (“BIT’s”). According to the then-presidential candidate’s government plan (chapter XXI), ICSID tribunals are biased and “at the service of the multinational companies” in prejudice of…

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…

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

/ /Leave a comment

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…

Cultural heritage, ICSID, Investment Arbitration, Investment Disputes

(Herbert Smith Freehills LLP)/ /Leave a comment
Herbert Smith Freehills

Investor-state disputes often involve an interplay of different bodies of international law.  In addition to investment law, disputes may invoke issues involving public international law, international human rights law, and international environmental law – and tribunals are faced with the challenges of trying to reconcile the sometimes conflicting rights created under these different bodies of…

Australia, Enforcement, ICSID, ICSID Convention, International Investment Arbitration, Sovereign Immunity, State Immunity, UK

, , (Clayton Utz)/ /Leave a comment

The International Convention on the Settlement of Investment Disputes (ICSID Convention) contains two provisions regulating compliance with arbitral awards. Article 53(1) provides that an award shall be binding on the parties. Article 54(1) requires each contracting State to recognise an ICSID award as binding. In this regard, it is common for parties to comply with…

Achmea, Admissibility, Arbitration, Arbitration Proceedings, CJEU, Domestic Courts, Energy Charter Treaty, German law, Germany, ICSID, International arbitration, Investment Arbitration, Netherlands, UNCITRAL

, (Nishimura & Asahi)/ /1 Comment

The Achmea saga has taken yet another twist. In a recent communication to the Dutch Parliament, the Dutch Ministry of Economic Affairs and Climate disclosed that it initiated “anti-arbitration” proceedings before the German courts on 11 May 2021 to “avert” two ECT-based ICSID arbitrations brought against it by the German energy companies RWE and Uniper (“Communication”)….

Arbitration Institutions and Rules, Code of Conduct, ICSID, ICSID Arbitration, ICSID Procedure, ICSID Proceedings, Investment Arbitration, UNCITRAL, UNCITRAL Arbitration Rules

(Richmond School of Law)/ /Leave a comment
Institute for Transnational Arbitration (ITA)

On April 19, 2021, the Secretariats of the International Centre for Settlement of Investment Disputes (ICSID) and the United Nations Commission on International Trade Law (UNCITRAL) released the second draft of the Code of Conduct for Adjudicators in International Investment Disputes, a key feature of the Investor-State Dispute Settlement (ISDS) reform process which is presently under…

Arbitration, Chile, Colombia, ICSID, Investment, Investor, Mexico, Peru, State

(Payet, Rey, Cauvi, Pérez Abogados) and (Ministry of Economy of Mexico)/ /Leave a comment

On November 26, 2020, the #YoungITATalks session took place with the participation of representatives from government offices of different countries: Mairée Uran Bidegain (Chile), María Paula Arenas Quijano (Colombia), Cindy Rayo Zapata (Mexico) and Ricardo Ampuero Llerena (Peru). All panelists are or, at some point, were responsible for organizing and preparing the defense of States…

AfCFTA, AfCFTA Investment Protocol, Africa, ICSID, Investor-State arbitration

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Cases involving African parties contribute to a significant number of International Centre for the Settlement of Investment Disputes (ICSID) cases. Indeed, 15% of ICSID cases involve parties from sub-Saharan Africa and 18% of ICSID cases involve parties from Middle East and North Africa. The UNCTAD database of Investor State Dispute Settlement (ISDS) cases records 145…

Enforcement, ICSID, ICSID Arbitration, ICSID Convention, Investment Arbitration, Ukraine

, (Asters)/ /Leave a comment

There have been six Ukrainian proceedings concerning the enforcement of ICSID awards to date. All have been successful, but Ukrainian courts have erroneously applied the New York Convention’s regime for this purpose. In this post, the authors analyze the inconsistency of such an approach with the ICSID Convention regime and related implications, suggesting options to…

Arbitration, Arbitration Institutions and Rules, Efficiency, Expedited arbitration, ICSID, Investment Disputes, ISDS, Reform, UNCITRAL, UNCITRAL WG II Series, Working Group II

(Stockholm University)/ /Leave a comment

Arbitrating investment disputes has its peculiarities stemming out of the nature of the dispute, as well as from the parties involved, which become relevant when assessing the feasibility of implementing expedited arbitration provisions. ICSID Arbitration Rules and UNCITRAL Arbitration Rules, the main arbitration rules currently used for investment arbitration proceedings, are in the process of…

Arbitration Institutions and Rules, Code of Conduct, ICSID, ISDS, UNCITRAL, Working Group III

(Law Offices of Charles H. Camp) and (De Brauw Blackstone Westbroek)/ /Leave a comment

Today, there is no universal code of conduct, no single professional regulatory organization or global certification process in the field of investor-state dispute settlement (“ISDS”). Instead, the field of international arbitration is didactically governed by self-policing, episodic, and distinct ad hoc measures serving to collectively safeguard the integrity of the international arbitration process. On the…

Code of Conduct, ICSID, ICSID Arbitration, ICSID Convention, ICSID Proceedings, UNCITRAL

(University of Paris Descartes)/ /3 Comments
ArbitralWomen

On 1 May 2020, ICSID and UNCITRAL released the long-awaited Draft Code of Conduct for Adjudicators in Investor-State Dispute Settlement (ISDS) (“Draft Code”) as previously reported and discussed. Article 1.1 of the Draft Code provides that it applies to “all persons serving as adjudicators in ISDS proceedings”, defined broadly to include arbitrators, ad hoc committee…

ICSID, Investment protection, Mediation

(Arbitrator Intelligence) and (White & Case)/ /Leave a comment

Co-organised by YSIAC’s Ms Kirsten Teo and Young ICSID’s Ms Celeste Salinas Quero, this YSIAC-Young ICSID webinar on the impact of the Singapore Convention on Mediation (“Convention”) on international investment disputes brought together five visionary speakers across four time-zones and attracted hundreds of attendees from 50 countries worldwide. With Mr Diogo Pereira (Partner, De Almeida…

Achmea, Energy Charter Treaty, Enforceability, Enforcement, ICSID, Intra-EU BITs, Intra-EU Investment Arbitration, USA

(WilmerHale)/ /Leave a comment

After the Court of Justice of the European Union (“CJEU”) rendered the Achmea decision, heated discussions on its impact ensued. Particularly, the concern raised on whether the ICSID proceeding provided for in intra-EU BITs and intra-EU disputes under the Energy Charter Treaty (“ECT”) would be valid. Several arbitral tribunals and national courts have dealt with…

Arbitration, Dispute, Dispute Resolution, Dispute Settlement, ICSID, Investment Arbitration, Norway

(Bottega Di Bella)/ /Leave a comment

Recently, the first-ever treaty-based arbitration against Norway was registered with ICSID. The Request for Arbitration was submitted by a Latvian investor, Mr. Peteris Pildegovics, and his company, SIA North Star. This post provides a background to the dispute, outlines possible claims, elaborates on its ramifications, and predicts further arbitrations. The dispute at hand is similar…

Code of Conduct, Conflicts of interest, Disclosure, ICSID, Independence and Impartiality, ISDS, UNCITRAL, Working Group III

(Richmond School of Law)/ /1 Comment
Institute for Transnational Arbitration (ITA)

On May 1, 2020, the Secretariats of ICSID and UNCITRAL released the first draft of the Code of Conduct for Adjudicators in Investor-State Dispute Settlement (ISDS). I had the privilege of working extensively on the drafting of the Code as a Scholar in Residence at ICSID, and I think this is an important development in…

Achmea, European Convention on Human Rights, European Court of Human Rights, ICSID, Intra-EU BITs, Intra-EU Investment Arbitration, Investment Arbitration

(delegaltessen) and (Stampa Abogados)/ /Leave a comment

The aftermath of Achmea Since the judgment of the Court of Justice of the European Union (CJEU) in Achmea, defending EU Member States and the European Commission have questioned the validity of the application of the investment arbitration clause in the Energy Charter Treaty (ECT) to intra-EU disputes. Although the motions to challenge jurisdiction on…