Posternak Blankstein & Lund LLP is now Arent Fox. Read the press release

On 12 April, Djibouti became the 163rd country to sign the ICSID Convention. Its membership will be complete once it has ratified the Convention. To date the Convention has been ratified by 153 States.

New Chair of the ICSID Administrative Council Elected

On 5 April 2019, David R. Malpass was appointed President of the World Bank by the Bank’s Executive Directors. In his capacity as World Bank President, Mr. Malpass also becomes Chair of the ICSID Administrative Council. Under the ICSID Convention, in the absence of agreement otherwise by the disputing parties, the Chair of the Administrative Council appoints arbitrators and decides challenges that are not decided by co-arbitrators. ICSID’s proposed far reaching rules amendments proposals will likely come before an Administrative Council chaired by Mr. Malpass.

Cases and Tribunals

In April ICSID registered six cases – four original proceedings, one annulment, and one rectification of an award. This brings the number of cases registered by ICSID this year to 19, including the one filed by Arent Fox and registered on 25 March.

Six Tribunals were constituted; two were reconstitutions (one following a resignation and another following a death of a member of the tribunal); two of the cases were annulment proceedings; and the other two were fresh arbitration proceedings.

Consultation on Rule Amendments

On 10 April, ICSID convened a second meeting of its Member States to deliberate on the proposed amendments to its rules including the comments received following consultations on the Working paper and Draft Proposed Rules issued by the Centre last year.

Cooperation Agreement with Kigali Centre

On 4 April, ICSID signed a cooperation agreement with the Kigali International Arbitration Centre, under Article 63 of the Convention, providing the possibility of holding ICSID hearings at the KIAC facilities.  This is a useful development as ICSID continues to expand its activities in Africa.

Contacts

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