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Investor Presentaiton

108 INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL thus seek provisional measures from a court in place of arbitration, in the host State, or even from a third State if there is a jurisdictional connection to that forum. The types of assistance available will depend on the arbitral law of the place of the court whose assistance is sought. Domestic court assistance is particularly likely to be sought when the order would be directed against a third party such as a bank over whom an arbitral tribunal would have no authority, or when the arbitral tribunal has not yet been constituted. Some domestic courts will enforce interim awards made by arbitral tribunals; other courts require that relief first be sought in them."!! 4. Relationship between tribunal-ordered and court-ordered interim measures Interim measures from domestic courts are not available in ICSID Convention arbitration (though they would be available in an arbitration under the Additional Facility Rules). The self-contained nature of arbitration under the ICSID Convention precludes relief from national courts, unless the parties have specifically agreed otherwise in their agreement to arbitrate.112 Entrusting provisional measures solely to arbitral tribunals means that provisional measures are not available from an ICSID Convention tribunal prior to its constitution. In order to address potential problems caused by this delay, the 2006 amendments to the ICSID Arbitration Rules provided for an expedited process under which a party can seek provisional measures in parallel with the constitution of the tribunal; by the time the tribunal is constituted, it would have before it a request, as well as the other party's observations, and should be in a position to decide on the issue promptly." 111 112 113 113 Sherwin and Rennie, 2009, pp. 325-327. Rule 39(6) of the ICSID Arbitration Rules. Rule 39(5) of the ICSID Arbitration Rules. UNCTAD Series on International Investment Agreements II
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