ISDS Case Map
ICSID
International Centre for Settlement of Investment Disputes (World Bank)
Despite a drop in cases at ICSID in the face of Covid-19 and Achmea, the level of investor-state arbitrations remains high overall. However, long-term challenges remain.
On June 11, 2020, an ICSID ad hoc committee issued a unanimous decision to annul a €128 million award against Spain in its entirety.
The ICSID has lifted the suspension on the execution of the €290 million award NextEra obtained a year ago.
Pakistan’s chances of having its $6 billion penalty in the Reko Diq case annulled have received a boost with a committee of the International Centre for Settlement of Investment Disputes (ICSID).
In 2019, arbitration finance has figured in at least 20 ICSID arbitrations. The ability to finance the pursuit of unpaid arbitration awards is perceived as the most significant benefit of arbitration finance to companies.
The basis of a claim in ISDS is always the applicable international investment agreement. There would always be differences and inconsistencies with an appellate mechanism.
Pakistan has asked a US federal court to pause an Australian copper company’s bid to enforce a $6 billion arbitral award while it looks to have the award nixed.
Romanian and US environmental justice activists demonstrated in Washington, DC, outside a World Bank tribunal hearing on a case brought by Canadian-based Gabriel Resources.
In amending the current rules, the ICSID aims to ultimately make the procedure less paper-intensive by using technology for the digital transmission of documents and case procedures.
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries.
