Part III Procedural Issues, Ch.27 Review of Awards

Subject(s):

Awards — Annulment — Failure to apply applicable law — Failure to state reasons — Review of arbitral awards — Revision of award — Applicable law — International investment law

This chapter begins by summing up the development of opinions on the possibility of review of the decisions of international tribunals in general. It analyses several key decisions of ad hoc committees established in accordance with the provisions of Article 52 of the ICSID Convention. It concludes with an assessment of whether it is necessary to broaden the scope of the review of arbitral awards in investment disputes, and particularly whether it would be convenient to introduce into investment disputes an appellate system allowing for the review of the merits of investment disputes.