Wednesday, May 11 2011 :: Reconsidering ICSID Awards By Tai-Heng Cheng under ICSID - International Centre for Settlement of Investment Disputes
This blog post ventures preliminary views on current critiques about ICSID annulments, and sketches out a few ideas that may merit further exploration. Some recent annulment decisions questioned ICSID awards but did not annul them because the high standard for annulment was not met. There are states and investors who now worry that should they lose an ICSID arbitration, the award may contain errors that cannot be rectified, resulting in a legally binding award that is wrong or unfair. They also ...
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Tuesday, May 10 2011 :: The Republic of Moldova ratified the ICSID Convention. The Convention will enter into force with respect to Moldova on June 4, 2011 under ICSID - International Centre for Settlement of Investment Disputes
Moldova Ratifies the ICSID Convention Having signed the ICSID Convention on August 12, 1992, the Republic of Moldova deposited with the International Bank for Reconstruction and Development (the World Bank) an Instrument of Ratification of the Convention on May 5, 2011. On its ratification of the Convention, Moldova notified the depositary (the World Bank)as follows: "Following Article 70 of the Convention, the Republic of Moldova specifies that the provisions of the Convention shall be appli...
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Monday, May 09 2011 :: Comments on the ICSID Award Saipem v. Bangladesh: Would its rationale be applicable in future cases? by Felipe Suescun de Roa under ICSID - International Centre for Settlement of Investment Disputes
Although many arbitration awards are voluntarily complied, enforcement of arbitration awards is a current challenge in international arbitration. Saipem S.p.A. v. The People’s Republic of Bangladesh1 (“Saipem v. Bangladesh”) apparently creates a new tier of protection when foreign investors are affected by the actions of a host country’s judiciary system. This might be an interesting trend, especially for those foreign investors that have investments in countries where th...
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Monday, May 09 2011 :: Investor Arbitration Case Filed Against Oman, By: Dustin Ensinger under ICSID - International Centre for Settlement of Investment Disputes
Little-known by most and virtually ignored by others, the U.S.-Oman free trade agreement is garnering the attention of at least one American. A Boston businessman is set to file the first-ever investment arbitration case under the bilateral trade pact. Adel A Hamadi Al Tamimi, owner of two mining companies, claims that his investment in two limestone mining operations in the country was irreparably harmed due to government interference in the project. His claim states that he was given the go...
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Monday, May 02 2011 :: Transparency in ICSID Arbitration: Pac Rim Cayman LLC v. Republic of El Salvador (ICSID Case No. ARB/09/12, DR-CAFTA-US Free Trade Agreement). Public hearing (May 2-4, 2011): under ICSID - International Centre for Settlement of Investment Disputes
A hearing in the above case will be transmitted live via internet feed from 9:00 a.m. on Monday, May 2, 2011 through 5:00 p.m. on Wednesday May 4, 2011. The case concerns a mining enterprise in the Republic of El Salvador. Procedural details of the case are available here. The live streaming is being made available pursuant to Article 10.21.2 of the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA)....
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Thursday, Apr 28 2011 :: President enacts law to secure foreign investments under ICSID - International Centre for Settlement of Investment Disputes
ISLAMABAD: President Asif Ali Zardari on Thursday accorded assent to a law aimed at reassuring foreign investors about security of their investments in Pakistan. The Arbitration (International Investment Disputes) Bill, 2011 was passed by National Assembly on November 5 last year while the Senate passed it on April 1. The President made the bill into a law, with his signatures at a special ceremony, here at the Aiwan-e-Sadr. President Zardari termed the signing as "a giant leap forward" to cre...
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