The UNCITRAL Working Group III convened in Vienna between 9 and 13 October 2023 for its 46th session to discuss the establishment of an advisory centre on international investment law, which would be tasked to provide legal and technical assistance in connection with investor-State disputes. In addition, it would tackle a number of “procedural and cross-cutting” issues (PaCCI) it had identified in earlier sessions. The PaCCI, 25 in total, includes the right to regulate, damages, consultation, denial of benefits, shareholder claims, and counterclaims. On the first day, the WGIII allocated three days to discuss the issue of the advisory centre and two days to commence its debate on the PaCCI (specifically damages). The WGIII began its work by acknowledging that given the number of the identified PaCCI and their extensive content, the discussions on both agenda items would likely continue well beyond the 46th session. The 47th session is scheduled to take place between 22 and 26 January 2024 in Vienna. Parallel to these two…
Investor-State Arbitration Tribunals
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Polluter Doesn’t Pay: The Rockhopper v Italy Award
Last August, an ICSID tribunal handed down its much-anticipated ECT-based award in the dispute between Rockhopper, a British oil and gas company, and the Italian Republic. Rockhopper had been denied a licence to exploit an offshore oilfield, due to legislation banning oil production concessions within a certain distance from the coastline. The ban was adopted as a result…
UNCITRAL and ISDS Reform: What to Expect When You’re Expecting
From September 5 – 16, the delegates of UNCITRAL Working Group III were back in Vienna to continue discussing ISDS reform. While it was possible for registered delegates to watch the proceedings online, it was only possible to make interventions in person. This approach, which we understand to be a general UN approach, decisively shifted the Working Group’s…
UNCITRAL and ISDS Reform (Hybrid): Islands of Persuasion
Since UNCITRAL Working Group III opened its most recent session on 14 February, many delegates began their interventions by wishing each other a Happy Valentine’s Day. As they did this, we recalled our blog after the first virtual session, in which we wrote that moving online was “like entering into a long distance relationship that remains fueled…
UNCITRAL and ISDS Reform (Hybrid): Season 5 – Watching the Grass Grow
Watching UNCITRAL Working Group III over the years has been a bit like viewing a long-running television series. The beginning of the process was exciting as we met a compelling cast of characters and the plot line began to take shape. Sometimes there was high drama: Which actors would support which kinds of reforms? Which ones would oppose…