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حقوق::
داوری سرمایه گذاری
ICSID Annulment Procedure and the WTO Appellate System: The Case for an Appellate System for Investment Arbitration
Consequently, in recent years, deficiency in the quality of some investment arbitration awards has reinvigorated the debate as to the need for an ICSID appellate facility.
While some remain unconvinced of the relevance of such a facility, there is an emerging consensus that the deficiencies in the awards currently being made hinders the predictability of the jurisprudence of investment arbitration and casts doubt on the legitimacy of the system.
The ICSID annual report of 2011 recognised the need for an appellate review mechanism for investment arbitration, but subsequent annual reports have been conspicuously silent on this topic and no steps have been taken to follow it up.
While recognising the successes as well as the challenges so far faced by the WTO Appellate Body, we argue in this paper that an ICSID appellate system would enhance the legitimacy of investment arbitration, and institute fairness and balance among the various players in investment disputes.
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