Revised International Dispute Resolution Procedures effective from 1 June
Amendments to the International Dispute Resolution Procedures by the International Centre for Dispute Resolution took effect from 1 June 2014. The revised rules include new procedures to speed up the process of lower-value matters, a provision making it compulsory for final awards to be made within 60 days and more weight given to mediation.
See here for a link to the new procedures, which can be found under the ICDR’s Rules and Procedures tab.
ICSID publishes caseload statistics special issue focusing on the European Union
The International Centre for Settlement of Investment Disputes (ICSID) has issued a document providing caseload statistics for disputes involving European member states. The publication was produced as part of the Workshop of the International Trade Committee of the European Parliament and provides information about cases as of 1 March 2014 where a member state is either the state party to the dispute or where the case involves investors from a member state. Of 463 cases registered with ICSID, 12 percent involved a state party from the European Union.
The caseload statistics special issue is available on the ICSID website.
San Marino signs ICSID Convention
San Marino has signed up to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. The signing ceremony took place on 11 April. The Convention has now been signed by 159 states, with 150 of these having also ratified the Convention.
For more information see the announcement by ICSID.
Australia and Japan conclude economic partnership agreement
Australia and Japan signed the Japan-Australia Economic Partnership Agreement (JAEPA) on 7 April 2014. The two nations began negotiations on the bilateral trade agreement in 2007 and the treaty is believed to be the most liberal trade agreement signed by Japan, providing Australia with a significant competitive advantage over other nations. Significantly, the JAEPA contains no investor-state dispute settlement provisions.
More information is available in the Australian government press release.
UNCTAD publishes annual review of Investor-State Dispute settlement cases The United Nations Conference on Trade and Development (UNCTAD) has released its annual report of statistical data on treaty-based investor-state dispute settlements. It also provides a review of arbitral decisions for the year 2013. Statistics in the “IIA Note: Recent Developments in Investor-State Dispute Settlement (ISDS)” indicate that at least 57 ISDS cases were registered in 2013 and over 40 percent of them were filed against developed states.
See the IIA Note for more details.
SIAC publishes annual report
The Singapore International Arbitration Centre (SIAC) has issued its caseload statistics as part of its annual report for 2013. The popularity of Singapore as a centre for international arbitration is confirmed by the statistics which recorded a 10 percent increase in new cases filed in 2013 compared to 2012. The total value of claims made in 2013 almost doubled, rising to S$6.06 billion, with one claim of S$3.5 billion being the most expensive claim ever to be registered at the SIAC.
For more details see the SIAC annual report for 2013.