Parties who signed a binding arbitration agreement are, in principle, bound by its terms. Once a dispute arises and a claimant commences arbitration proceedings against a respondent, a general assumption is that the parties will cooperate and actively participate in the proceedings. In practice, however, it can happen that the other party, usually the respondent, […]
ICSID Arbitration
How to Reduce the Overall Cost of Investment Treaty Arbitration
Investment treaty arbitration has various flaws, but one flaw that is acknowledged by both foreign investors and States who use the dispute resolution system is that, in practice, it can be incredibly expensive. The costs of investment treaty arbitration can be unbearable for certain States, who have far better uses for public funds, and they […]
CIADI
El Centro Internacional de Arreglo de Diferencias Relativas a Inversiones es la institución líder en la resolución de controversias nacidas entre inversionistas y estados ya que los Estados lo han acordado así en la mayoría de los tratados internaciones de inversión o en contratos o en su legislación. Se trata de un proceso de arreglo […]
Advance on Costs in ICSID Arbitration
The filing of a Request for Arbitration in an ICSID arbitration implies an obligation for the parties to pay several costs needed for the arbitral proceedings. In addition to the legal fees for the parties’ legal representation, and additional party costs such as the cost of experts, and the payment of a non-refundable lodging fee […]
William Kirtley and Marina Sim Comment on Taxes and Investment Arbitration
William Kirtley and Marina Sim were interviewed by LexisNexis to discuss the judgment of the Paris Court of Appeal in Vincent J. Ryan, Schooner Capital LLC, and Atlantic Investment Partners LLC v Republic of Poland, and the claimants’ set-aside application and its implications for investment treaty arbitration (ITA) practitioners. The dispute concerned States’ authority to […]
Intra-EU Arbitrations and the Enforcement of ICSID Awards in the United States: the Impact of Achmea
The ICSID Convention requires signatories to treat arbitral awards rendered according to the ICSID framework as if they were a final judgment of a court in that State.[1] To challenge an award, the claimant shall seek review within the ICSID arbitral regime, rather than before State courts.[2] To implement the Convention, the U.S. Congress in […]
The Concept of Arbitrability in Arbitration
Arbitrability concerns whether a type of a dispute can or cannot be settled by arbitration. In practical terms, arbitrability answers the question of whether a subject matter of a claim is or not reserved to the sphere of domestic courts, under the provisions of national laws. If the dispute is not arbitrable, the arbitral tribunal […]
William Kirtley Discusses Enforcing Arbitral Awards against State Assets with Russian Newspaper
Arbitration lawyer William Kirtley has been interviewed by the Moscow-based newspaper Novaya Gazeta regarding the enforcement of arbitral awards against State assets. In the Russian-language article, concerning a USD 1.3 billion award to Ukraine’s Oschadbank for compensation for loss of assets in Crimea following annexation of the peninsula in 2014, William Kirtley explains that it is far […]
The Salini Test in ICSID Arbitration
Article 25(1) of the ICSID Convention states that “[t]he jurisdiction of the Centre shall extend to any legal dispute arising directly out of an investment”. The manner in which tribunals have applied this provision has gradually evolved and has been subject to considerable debate. The Salini Test has been at the heart of this debate. […]