Enhancing the Legitimacy of International Investment Law by Establishing an Appellate Mechanism
IMPROVING INTERNATIONAL INVESTMENT AGREEMENTS, pp. 257-264, Armand de Mestral & Céline Lévesque (eds), Routledge 2012.
23 Pages Posted: 25 Feb 2013 Last revised: 28 Jun 2013
Date Written: October 18, 2012
There has been considerable debate about the idea of an appellate mechanism for international investment arbitration. A number of reasons have been posited for establishing such a mechanism, including ensuring the consistency and accuracy of awards as well as the legitimacy of the system as a whole. However, establishing an appellate mechanism in the investment field would be a complicated and challenging endeavour involving major hurdles that several experts have concluded are too high to overcome. This paper, by the first Director of the WTO Appellate Body Secretariat, examines the arguments for and against an appellate mechanism for international investment arbitration and concludes ultimately that the reasons for such a mechanism are compelling. A model for a standing appeals body is also presented.
Keywords: investment, international arbitration, investment arbitration, investor state, ICSID, UNCITRAL, appeals
JEL Classification: K00, K29, K33, K39, N70, F23
Suggested Citation: Suggested Citation