CEU Electronic Theses and Dissertations, 2019
| Author | Kostomarova, Sofiia |
|---|---|
| Title | Applications for Setting Aside Under Article 34 UNCITRAL Model Law and Annulment Claims Under Article 52 ICSID Convention: A Comparative Analysis of the Nature and Scope of Review of Arbitration Awards |
| Summary | A vast majority of International Investment Agreements nowadays allow the investor to submit its dispute either to the International Centre for Settlement of Investment Disputes or to an ad hoc or institutional arbitration. The difference between the ICSID and non-ICSID systems in terms of annulment is significant: ICSID annulment proceedings are independent of any national jurisdiction, while non-ICSID review takes place under the laws of a particular jurisdiction that might be based on the Model Law on International Commercial Arbitration. The purpose of this thesis is to compare the annulment of the ICSID and non-ICSID awards in terms of the procedure, scope and applicable standards of review. It is concluded that the standards developed by the domestic courts under Article 34 of the Model Law might seem more intrusive but are applied with deference to the tribunals’ findings. The standards developed in the ICSID system, on the other hand, read as rather demanding and difficult to satisfy but on many occasions have been interpreted inconsistently and unpredictably so as to justify the examination of the merits of the award. The parties might consider resolving their investment dispute outside the ICSID system in an arbitration-friendly jurisdictions, thus, avoiding inconsistencies of the ICSID system. |
| Supervisor | Petsche, Markus |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2019/kostomarova_sofiia.pdf |
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