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

CLAIMS SUBMISSION PROCESS COMMENCES FOR REGISTER OF DAMAGE FOR UKRAINE

The Register of Damage for Ukraine (the Register) opened its claims submission process on 2 April 2024. The Register represents an important effort to document the impact of the conflict and collect and process claims for damages resulting from the Russian invasion of Ukraine. The launch of the claims submission process is a pivotal moment … Read more

ENFORCEMENT OF ARBITRAL AWARDS: AWARD CREDITOR SUCCESSFULLY SEEKS REMEDY FROM EUROPEAN COURT OF HUMAN RIGHTS FOR ALBANIA’S EXTRAORDINARY DELAY IN RECOGNISING ARBITRAL AWARD

The European Court of Human Rights (the ECtHR) has found that in delaying recognition of an arbitral award against it, the Republic of Albania breached its obligations under Article 6 (Right to a Fair Trial) of the European Convention on Human Rights (ECHR). Article 6(1) states that proceedings must be determined “within a reasonable time”. … 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

UK ANNOUNCES WITHDRAWAL FROM THE ENERGY CHARTER TREATY

On 22 February 2024, the UK Government announced that the UK will withdraw from the Energy Charter Treaty (ECT). The withdrawal will take effect one year after the formal receipt of notice by the ECT depositary, which transmits withdrawal notifications to the ECT Secretariat. 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

GERMAN FEDERAL COURT OF JUSTICE CONFIRMS THAT FINDINGS OF ACHMEA DO NOT EXTEND TO INVESTMENT ARBITRATIONS UNDER EXTRA-EU BITS

The German Federal Court of Justice (Bundesgerichtshof – “BGH”) recently allowed the enforcement of an arbitral award rendered in Deutsche Telekom v. India – an investor-State arbitration conducted under the 1995 Germany-India Bilateral Investment Treaty (“BIT”). On Deutsche Telekom’s application, the amount of USD 10 million plus interest (a partial amount of the award) has … 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