ICSID RELEASES ITS BACKGROUND PAPER ON ANNULMENT: GROWTH IN THE NUMBER OF PROCEEDINGS WITH A LOW ANNULMENT RATE

On 11 March 2024, the International Centre for Settlement of Investment Disputes (ICSID) published its most recent Background Paper on the annulment remedy under the ICSID Convention (Background Paper). Now, in its third edition and available here, the Background Paper provides a comprehensive assessment of annulment as well as the drafting history behind the annulment … Read more

Honduras Denounces the ICSID Convention

Honduras Denounces the ICSID Convention On February 24, 2024, the Republic of Honduras (“Honduras”) sent a written notice to the World Bank denouncing the ICSID Convention.  Honduras’s decision follows its threat on May 31, 2023 to withdraw from the ICSID Convention due to alleged procedural mismanagement by ICSID in the of the multi-billion Honduras Próspera … Read more

SURGE IN CASES AS ICSID RELEASES ITS 2023 CASELOAD STATISTICS

On 1 February 2024, the International Centre for Settlement of Investment Disputes (ICSID) released its caseload statistics for the 2023 calendar year, available here. This blogpost examines the latest trends seen in the 2023 calendar year, as compared to previous years. Read more

UNCITRAL PUBLISHES FINAL CODES OF CONDUCT FOR ARBITRATORS AND JUDGES IN INTERNATIONAL INVESTMENT DISPUTES

UNCITRAL has published the final texts of its Code of Conduct for Arbitrators in International Investment Disputes (Arbitrators’ Code) and Code of Conduct for Judges in International Investment Disputes (Judges’ Code). The Codes seek to address concerns about the perceived lack of independence and impartiality among international arbitrators and judges by implementing new limitations on … Read more

RECENT ICSID DEVELOPMENTS: CASELOAD STATISTICS AND THE FIRST YEAR OF PRACTICE UNDER THE ICSID 2022 RULES

ICSID has recently released its biannual caseload statistics for FY2023 and a separate publication reviewing the first year of practice under the newly implemented ICSID 2022 Rules. These publications offer valuable information for practitioners and stakeholders interested in the evolving landscape of investment arbitration. This article summarises some of the key information from each publication. … Read more

GERMAN FEDERAL COURT OF JUSTICE RULES ON APPLICATIONS TO DECLARE TWO PENDING INTRA-EU ICSID ARBITRATIONS INADMISSIBLE

 INTRODUCTION On 27 July 2023, the German Federal Court of Justice (“BGH”) ruled on applications by Germany and the Netherlands to declare two pending ICSID arbitrations inadmissible. The investor-State arbitrations of Mainstream Renewable v. Germany and RWE v. the Netherlands were initiated by an Irish investor against Germany and by a German investor against the … Read more

Colombia and Venezuela agree a new Bilateral Investment Treaty, Venezuela’s first since withdrawing from the ICSID Convention

On February 23, 2019, Venezuela broke diplomatic relations with Colombia and gave Colombian diplomats twenty-four hours to leave the country. Four years later, on February 3, 2023, Colombia and Venezuela signed an unprecedented bilateral investment treaty (BIT) that evidences the marked improvement in their relations since the election of President Gustavo Petro in June 2022. … Read more