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Meg Kinnear - Building International Investment Law. The First 50 Years of ICSID

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Meg Kinnear Building International Investment Law. The First 50 Years of ICSID

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The International Centre for Settlement of Investment Disputes (ICSID) is the premier international investment arbitration facility in the world. In its half-century of existence ICSID has administered more than 525 cases with parties, counsel, arbitrators, and conciliators from virtually every country in the world. Collectively, ICSID jurisprudence has defined international investment law. This volume celebrates the first 50 years of ICSID by presenting the landmark cases that have been decided under its auspices. These cases have addressed every aspect of investment disputes: jurisdictional thresholds; the substantive obligations found in investment treaties, contracts, and legislation; questions of general international law; and a number of novel procedural issues. Each chapter, written by a knowledgeable expert on the chapters particular focus, looks at an international investment law topic through the lens of one or more of these leading cases, analysing what the case held, how it has been applied, and its overall significance to the development of international investment law. These topics include:
  • applicable law;
  • res judicata in investor-State arbitration;
  • notion of investment;
  • investor nationality;
  • consent to arbitration;
  • substantive standards of treatment;
  • consequences of corruption in investor-State arbitration;
  • State defenses
  • counter-claims;
  • assessment of damages and cost considerations;
  • ICSID Arbitration Rule 41(5) objections;
  • mass claims, consolidation and parallel proceedings;
  • provisional measures;
  • arbitrator challenges;
  • transparency and amicus curiae; and
  • annulment.
Because the law of international investment continues to grow in importance in an ever more globalizing world, this book is more than a fitting way to mark the past 50 years and to welcome the next 50 years of development. It will prove both educational for practitioners new to the field and informative for seasoned investment lawyers. Moreover, the book itself is a landmark that will be of great value to professionals, business people, scholars and students interested in international nvestment law,

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Building International Investment Law
Building International Investment Law
The First 50 Years of ICSID

Edited by

Meg Kinnear
Geraldine R. Fischer
Jara Mnguez Almeida
Luisa Fernanda Torres
Maire Uran Bidegain

Published by Kluwer Law International PO Box 316 2400 AH Alphen aan den Rijn - photo 1

Published by Kluwer Law International PO Box 316 2400 AH Alphen aan den Rijn - photo 2

Published by:
Kluwer Law International
PO Box 316
2400 AH Alphen aan den Rijn
The Netherlands
Website: www.wklawbusiness.com

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Disclaimer: The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the view of the International Centre for Settlement of Investment Disputes (ICSID), its Secretariat, the members of its Administrative Council, or the governments they represent.

Cover: Vladimr Popovic, Slovak Republic, Untitled 2000, mixed media collage 17 5/8 x 24 3/8 World Bank PN: 513613, Collection of the World Bank used with permission of the artist.

Printed on acid-free paper.

ISBN 978-90-411-6141-3

2016 International Centre for Settlement of Investment Disputes (ICSID)

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without written permission from the publisher.

Permission to use this content must be obtained from the copyright owner. Please apply to: Permissions Department, Wolters Kluwer Legal, 76 Ninth Avenue, 7th Floor, New York, NY 10011-5201, USA. Email:

Meg Kinnear has been the Secretary-General of the International Centre for Settlement of Investment Disputes (ICSID) at the World Bank since 2009. She was formerly the Senior General Counsel and Director General of the Trade Law Bureau of Canada, where she was responsible for all international investment and trade litigation involving Canada, and participated in the negotiation of bilateral investment agreements. In November 2002, Ms. Kinnear was also named Chair of the Negotiating Group on Dispute Settlement for the Free Trade of the Americas Agreement. Prior to this, Ms. Kinnear was Executive Assistant to the Deputy Minister of Justice of Canada (1996-1999) and Counsel at the Civil Litigation Section of the Canadian Department of Justice (1984-1996) where she appeared before federal and provincial courts as well as domestic arbitration panels. Ms. Kinnear has published numerous articles and books on international investment law and procedure and is a frequent speaker on these topics.

Geraldine R. Fischer is a legal counsel with ICSID where she serves as secretary of tribunals in arbitration proceedings brought under the ICSID Convention and the ICSID Additional Facility Rules. Prior to joining ICSID, Ms. Fischer was a Senior Research Fellow at the Centre for International Law in Singapore focusing on investment arbitration. She also worked as an attorney with Foley Hoag LLP and Winston & Strawn LLP in Washington, D.C. representing companies and States in international arbitration and litigation proceedings. Ms. Fischer began her career at the U.S. Department of Commerce where she was a member of the negotiating team for several free trade and investment agreements. She is also currently an adjunct professor at Georgetown University Law Center where she co-teaches a course in international investment law. She is admitted to practice law in New York and the District of Columbia.

Jara Mnguez Almeida is a legal counsel with ICSID. In this capacity, she serves as secretary of tribunals in arbitration proceedings brought under the ICSID Convention and the UNCITRAL Arbitration Rules. She also acts as legal counsel on institutional matters. Prior to joining ICSID, Ms. Mnguez Almeida worked as legal counsel at the Permanent Court of Arbitration in The Hague and as international case manager at the International Centre for Dispute Resolution of the American Arbitration Association where she also served as secretary of tribunals in investment and commercial arbitrations. She began her career at Lovells LLP advising parties on international dispute resolution. She holds a law degree from Universidad Carlos III (Madrid) and is admitted to practice in Madrid.

Luisa Fernanda Torres is a legal counsel with ICSID. In this capacity, she serves as secretary of tribunals and ad hoc committees in arbitration and annulment proceedings brought under the ICSID Convention, the ICSID Additional Facility Rules and the UNCITRAL Arbitration Rules. She also acts as legal counsel on institutional matters. Prior to joining ICSID, she worked at Covington & Burling LLP, acting in numerous international investment arbitration and international commercial arbitration proceedings. She began her career with the law firm of Rodrguez-Azuero Asociados in Bogot, Colombia. She is also currently an adjunct professor at Georgetown University Law Center where she co-teaches a course in international investment law. She holds a J.D. from Universidad del Rosario, Bogot-Colombia, a Specialization in Insurance Law from Pontificia Universidad Javeriana, Bogot-Colombia and an LL.M. from Georgetown University. She is admitted to practice in the Republic of Colombia, the State of New York and the District of Columbia.

Maire Uran Bidegain is a legal counsel with ICSID. In this capacity, she serves as secretary of tribunals, commissions and ad hoc committees in arbitration, conciliation and annulment proceedings brought under the ICSID Convention. She also acts as legal counsel on institutional matters. Prior to joining ICSID, Ms. Uran Bidegain practiced at White & Case LLP, where she advised sovereign States and private parties on international dispute resolution as well as on cross-border negotiations and international transactions. She lectured at American University Washington College of Law, and is currently an adjunct professor at Georgetown University Law Center where she co-teaches a course in international investment law. She holds a law degree from Universit Panthon-Assas (Paris II), a Masters degree from Universit Panthon-Sorbonne (Paris I), an LL.M. from the University of Pennsylvania Law School and is admitted to practice in New York.

Stanimir A. Alexandrov is a Partner at Sidley Austin LLP in Washington D.C. and co-chair of the firms International Arbitration practice. Mr. Alexandrov focuses his practice in the areas of investor-State arbitration, as well as international commercial arbitration and resolution of trade disputes before the WTO. He has represented private parties and governments in arbitration before ICSID, as well as in ICC, UNCITRAL, and AAA arbitrations. Mr. Alexandrov has been appointed to the ICSID Panel of Arbitrators and serves as an arbitrator in numerous ICSID, ICC, LCIA, and UNCITRAL arbitrations. He has appeared as an expert witness in international arbitration on investment treaty interpretation. Mr. Alexandrov has been teaching for over 15 years at The George Washington University Law School and has published several books and numerous articles on matters of public international law and international arbitration. He obtained his degree in public international law from the Moscow Institute of International Relations, and Masters and Doctoral degrees in international law from The George Washington University Law School. Prior to engaging in private practice, Mr. Alexandrov was Vice Minister of Foreign Affairs of Bulgaria. He is fluent in several languages.

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