The Elusive Nature of Res Judicata in ICSID Arbitration
30 Pages Posted: 12 May 2017
Date Written: May 12, 2017
ICSID tribunals have sometimes issued decisions that could be questioned in terms of reliability, credibility and respect for the rule of law. Article 48(3) ICSID defines the award as the document that deals with every question submitted to the tribunal. Unlike other rules, the ICSID Convention does not provide for interim or partial awards. An ICSID award is final and binding, closes the proceedings and gives res judicata effect to the tribunal’s findings. Recently ICSID tribunals stated that, if a document decides on one or some of the questions submitted by the parties and has stated the reasons behind it, such decision is to be considered res judicata although it is not an award. Can tribunals revise conclusions reached earlier in the proceedings before the award? This article aims at addressing res judicata in the ICSID in light of the problem of the relationship between tribunals’ decisions and awards.
Keywords: ICSID, investment arbitration, res judicata, arbitral awards, arbitral decisions, ISDS
JEL Classification: F50, K33
Suggested Citation: Suggested Citation