Investor Presentaiton
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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 IIView entire presentation