Security for costs has become an increasingly important procedural issue in investment arbitration. A respondent State may spend millions defending a treaty claim and, even after prevailing and obtaining a costs award, remain exposed to non-recovery where the claimant is insolvent or has few assets against which the award can be enforced. Security for costs […]
UNCITRAL Code of Conduct for Arbitrators
The UNCITRAL Code of Conduct for Arbitrators in International Investment Dispute Resolution (the “UNCITRAL Code of Conduct”) recalibrates ethical expectations in investor-state dispute settlement. Adopted in 2023 under UN General Assembly Resolution 78/105 after six years of work in UNCITRAL Working Group III, it is a voluntary soft law instrument.[1] Accordingly, it sets recommended standards […]
UNCITRAL Arbitration Costs
The United Nations Commission on International Trade Law (“UNCITRAL”) is the central body within the United Nations system responsible for modernising and harmonising international trade law.[1] Although widely used in investment and commercial disputes, it is not an arbitral institution.[2] Instead, parties use the UNCITRAL Arbitration Rules in ad hoc arbitration proceedings or in proceedings […]
Investor, National, or Both? Dual Nationality in Treaty Disputes
In recent years, increasing global mobility has driven a rise in dual nationality cases in investment treaty arbitration, posing significant challenges to the investment treaty regime, which relies on the principle of nationality. This principle seeks to prevent individuals from bringing claims against their own State, thereby maintaining a clear distinction between foreign and domestic […]
Arbitrations Involving International Organisations
It is widely acknowledged that international organisations proliferated in the aftermath of World War II,[1] although preliminary forms had existed earlier.[2] Major international organisations are universally recognised. These include the United Nations (UN), the United Nations Educational, Scientific and Cultural Organisation (UNESCO), the World Trade Organisation (WTO), the World Bank, the International Monetary Fund (IMF), […]