Akin Lawyers Author Corporate Disputes Article on Appellate Review of ICSID Awards
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Akin international arbitration partner Kabir Duggal and associate Radu Suciu have co-authored an article on the “Appellate Review of ICSID Awards: Inter Se Modification and WGIII Reform,” published in Corporate Disputes.
In the article, the authors analyze the ICSID Secretariat’s Updated Note on a potential “inter se” modification of the ICSID Convention, which outlines a possible pathway for introducing appellate review into investor-state dispute settlement (ISDS) despite the framework’s current prohibition on appeals.
They examine how the Note’s proposed “opt-in” treaty mechanism could operate in practice and highlight the significant legal and practical challenges it raises, including the interaction with existing annulment procedures and the implications for enforcement across participating and non-participating states.
As the authors note, “the incorporation of appellate review into the existing ISDS architecture is not merely a question of institutional innovation, but one of delicate legal calibration within a highly integrated treaty system.”
The piece builds on the authors’ prior article analyzing reforms proposed by UNCITRAL Working Group III of the ISDS system.
To read the article, click here (subscription required).
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