International Centre for Settlement of Investment Disputes

(redirected from ICSID Convention)

International Centre for Settlement of Investment Disputes

Also called ICSID. An organization under the World Bank Group that serves as an arbitration board for disputes involving investment treaties. That is, when member countries disagree on the interpretation of an investment treaty applying to both of them, they may refer the matter to ICSID. More than 150 countries belong to ICSID. It was established in 1966 and is based in Washington, D.C.
References in periodicals archive ?
For the time being Pakistan has enacted the New York Convention and the ICSID convention for enforcement of foreign arbitral awards but this does not ensure smooth enforcement.
obligations under the ICSID Convention and, until recently, few ICSID
Bilateral Investment Treaties, Free Trade Agreements and the ICSID Convention
Ecuador applied for annulment on several grounds, however the committee only accepted the manifest excess of power standard in assuming jurisdiction under Article 52(1) of the ICSID Convention.
Specifically, it asks whether a subdivision of a federal State made subject to the jurisdiction of the International Centre for the Settlement of Investment Disputes ("ICSID" or "the Centre") under Article 25 of the ICSID Convention (1) may be responsible as a juridical person independent of its State for violating an investment treaty (e.
10) Over the past few years, Bolivia, Ecuador and Venezuela withdrew from the ICSID Convention and terminated a considerable number of BITs.
283) Specifically, the nation claimed that Philip Morris's activities were not an investment under either the ICSID Convention or the BIT, citing language in the preambles of both to inform the object and purpose of each: Uruguay referred, first, to "the need for international cooperation and economic development" in the ICSID Convention's preamble, and then to the "economic development process" and "substantially contributions] to the development of the country" in the BIT's preamble.
from the regime by renouncing the ICSID Convention and, at least in the
Argentina Decision of the Arbitral Tribunal on Objections to Jurisdiction found that, "for the purposes of the ICSID Convention and the Bilateral Treaty, the claimants are foreign investors, even though they did not directly operate the investment in the respondent's territory, but acted through companies constituted for that purpose.
87) Venezuela, Ecuador, and Bolivia have withdrawn from the ICSID Convention.
The UAE is a contracting party to the ICSID Convention and has signed 40 bilateral investment treaties ("BITs") with developed and developing countries, 29 of which are currently in force.
M theses assesses the ability of the Chilean legal framework and mining companies to adopt carbon capture and storage standards, and the legal consequences of a denunciation of the ICSID Convention on Latin American countries?