ISDS Case Map
UNCITRAL
United Nations Commission on International Trade Law
In recent years, a new type of claim has been emerging in the field of investment treaty arbitration, whereby investors initiate proceedings against their own state before an international arbitration tribunal.
The amendment to Arbitration Act will be taken up in the forthcoming Parliament session. The amended act would be on par with the United Nations Commission on International Trade Law (UNCITRAL) system.
Argentina filed with the U.S. District Court for the District of Columbia a petition to vacate an UNCITRAL arbitration award, which could have broader implications for determining partiality of arbitrators.
One of the most striking features of the draft model is its jettisoning of the fair and equitable treatment standard in favor of a standard -- egregious or outrageous behaviour -- that hearkens back to legal touchstones of an earlier era.
The UN Convention on Transparency in Treaty-Based Investor-State Arbitration has been opened for signature.
A proposal for a new form of international arbitration, with states abandoning sovereign rights to commercial dispute litigation in favor of resolution by arbitration, has provoked wide public interest and is now being drafted into an international model treaty.
Argentina has agreed to settle five separate investment treaty arbitration claims at a cost of around USD 500 million, in an historic departure from the Latin American state’s refusal to comply with awards made by international investment treaty arbitration bodies.
Despite the compelling rationale that the public has a stake, Philip Morris' claims will not be heard in an Australian court by respected judges, but by an ad-hoc tribunal that will meet in Singapore or another foreign country.
British water giant Biwater cannot use an investment treaty to make Tanzania pay millions for an abrogated water privatization contract, an international tribunal ruled in July.
A number of African governments have made efforts to encourage investment in the continent by entering into bilateral investment treaties and adopting arbitration legislation.
