Practical Measures to Control Annulments in Investor-State Arbitration Awards

Tai-Heng Cheng, a partner at Quinn Emanuel Urquhart & Sullivan, and Lucas Bento, an associate at the firm, write: Given the key role of ICSID arbitration in providing a venue for foreign investors and host states to resolve their disputes, criticisms of ICSID annulments must be taken seriously. Recent annulment decisions have differed in their interpretation of the standards for annulment, creating uncertainty in the legal standards and creating business risks for foreign investors and host states.

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