Argentina’s ICSID Arbitrations and the UNCC Experience: Consistency and Capability in Mass Claims

World Arbitration and Mediation Review, Forthcoming

21 Pages Posted: 26 May 2012  

Cymie R. Payne

Rutgers University; Rutgers, The State University of New Jersey - School of Law, Camden

Date Written: May 25, 2012

Abstract

When Argentina moved to restructure its sovereign debt, it triggered a flood of claims by foreign investors that risked overwhelming the International Centre for Settlement of Investment Disputes (ICSID), which hosts the arbitrations. It seems likely that, whatever is decided for the Argentina claims, mass claims will continue to arise in arbitration as a logical consequence of globalization, the judicialization of disputes, and referral of disputes to arbitration in numerous bilateral and multilateral agreements. This paper considers how the United Nations Compensation Commission (UNCC) planned and then adopted mechanisms to deal with two different types of mass claims that resulted from the 1991 Gulf War, draws comparisons to the Argentina investment arbitrations, and makes some observations of where the UNCC experience provides a useful comparative case study in responding to mass claims with flexibility and inventiveness.

Keywords: mass claims, ICSID, UNCC, reparations, arbitration

JEL Classification: K33, K4

Suggested Citation

Payne, Cymie R., Argentina’s ICSID Arbitrations and the UNCC Experience: Consistency and Capability in Mass Claims (May 25, 2012). World Arbitration and Mediation Review, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2066821

Cymie R. Payne (Contact Author)

Rutgers University ( email )

55 Dudley Rd
New Brunswick, NJ 08901
United States
732-932-6667 (Fax)

HOME PAGE: http://www.cymiepayne.org

Rutgers, The State University of New Jersey - School of Law, Camden

Camden, NJ
United States

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