Investor Presentaiton

182 INVESTOR-STATE DISPUTE SETTLEMENT: A SEQUEL Consolidation of claims Conversely, an IIA may also explicitly prohibit arbitral tribunals from issuing such orders. IIAS can also specify what interim measures of protection are available. In addition, it is useful for IIAS to indicate whether and how national court-ordered interim measures should interact with the arbitral tribunal's authority. Arbitral tribunals have no ability to act until they are constituted, and have limited coercive powers even then. In an ICSID Convention arbitration, a national court will have no authority to order interim measures absent an explicit agreement that the court's assistance is available in a particular dispute. The parties to an IIA can make it clear whether or not they want provisional measures from local courts to be available to parties who commence an ICSID Convention arbitration. In other cases, the domestic court's authority will depend on the arbitral law of the State in which the court is located. Consolidation is often an attractive option to deal with related parallel proceedings based on the same IIA. However, consolidation can be problematic in the case of proceedings based on different IIAs because the obligations contained in the IIAS might differ, thus complicating legal analysis even if the same operative facts are at issue. If a State wishes to maximize its discretion to decide whether or not to agree to consolidate a dispute, it can simply not include a consolidation UNCTAD Series on International Investment Agreements II

View entire presentation