Review of 2014 International Centre for Settlement of Investment Disputes (ICSID) Decisions
As with last year’s review, the review of ICSID decisions for this period will focus on some of the leading publicly available English language final awards and decisions of the annulment committee issued by ICSID tribunals in the past calendar year from December 2013 to November 2014. The concentration herein on final awards and annulment committee decisions does not necessarily reflect the importance of these pronouncements relative to others produced by tribunal constituted under ICSID rules. Rather it is an editorial choice that is based on the high volume of reported ICSID materials which are now published and freely available both on its website and through other services. To be sure, there were a number of interim awards, decisions based on jurisdiction and procedural orders issued by ICSID tribunals in 2014 that are noteworthy not only because of their demonstration of insightful legal reasoning but also due to their connection to some high profile disputes. Additionally, it should be noted that ICSID has begun to publish with greater regularity the pleadings of parties, many of which disclose innovative legal arguments. Consequently future editions of the MJIEL may consider such materials for inclusion in this annual review. Finally, it is worth mentioning that, unlike previous years, there appear to be more published UNCITRAL awards released than ICSID awards, from which it could be inferred that ICSID may be losing its lustre as the forum of choice for aggrieved investors.