Journal of Arbitration Studies (한국중재학회지:중재연구)

The Korean Association of Arbitration Studies (한국중재학회)
권호 표지
DOI QR코드

DOI QR Code

The Integrity of Finality of International Arbitral Awards: International Commercial and ICSID Arbitration Awards

  • Received : 2018.04.28
  • Accepted : 2018.05.31
  • Published : 2018.06.01
Download PDF
⟨ Previous Next ⟩

Abstract

Efficiency in the arbitration proceedings and finality of arbitral awards have been key attractive features of arbitration. While finality of awards is due to the fact that there is no appeals mechanism in arbitration, other recourses that are available against arbitral awards threaten the integrity of finality of arbitral awards. This article examines some of these recourses, such as, setting aside of arbitral awards pursuant to the UNCITRAL Model Law, scrutiny of draft awards by arbitration institutions, and annulment proceedings of ICSID Convention awards and discusses the implications of these measures in relation to assuring finality of arbitral awards in international commercial and investment arbitration cases. In order to more effectively respect the disputing parties' autonomy in choosing arbitration, and also to give as much deference to arbitral tribunals' decisions and their discretion in reaching their decisions, it is proposed that an official appellate mechanism would be preferred over the undermining of finality of arbitral awards that have been taking place through the currently available exclusive recourses against arbitral awards.

Keywords

References

  1. The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958).
  2. The ICSID Convention.
  3. UNCITRAL Model Law on International Commercial Arbitration.
  4. UNCITRAL 2012 Digest of Case Law on International Commercial Arbitration.
  5. ICC Arbitration Rules (2017).
  6. CIETAC Arbitration Rules (2015).
  7. Arbitration Rules of the Singapore International Arbitration Centre (2016).
  8. ICSID Rules of Procedure for Arbitration Proceedings.
  9. Updated Background Paper on Annulment for the Administrative Council of ICSID, May 5, 2016.
  10. International Arbitration Survey: Choices in International Arbitration, by the School of International Arbitration at Queen Mary University of London (2010).
  11. The Secretariat's Guide to ICC Arbitration, ICC Publication No. 729E, p. 327 (2012).
  12. Gustav Flecke-Giammarco, "The ICC Scrutiny Process and Enhanced Enforceability of Arbitral Awards," 24 Journal of Arbitration Studies 3 (2014).
  13. Hi-Taek Shin, Annulment, Building International Investment Law: The First 50 Years of ICSID, 699 (Meg Kinnear, et. al, eds., Wolters Kluwer, 2016).
  14. Irene M. Ten Cate, "International Arbitration and the Ends of Appellate Review," 44 Journal of International Law and Politics 1109 (2012).
  15. Paul Friedland, Paul Brumpton, "Rabid Redux: The Second Wave of Abusive ICSID Annulments," American University International Law Review, Vol. 27 (2012).
  16. Simon Greenberg, Christopher Kee, J. Rosmesh Weeramantry, International Commercial Arbitration: An Asia-Pacific Perspective, Cambridge Univ. Press (2011).
  17. Wena Hotels Limited v. The Arab Republic of Egypt, ICSID Case No. ARB/98/4, Decision on Annulment (5 February 2002) (Kerameus, Bucher, Orrego Vicuna).
  18. CDC Group plc v. Republic of the Seychelles, ICSID Case No. ARB/02/14, Decision on Annulment (29 June 2005).
  19. Fraport AG Frankfurt Airport Services Worldwide v. Republic of the Philippines, ICSID Case No. ARB/03/25, Decision on Annulment (23 December 2010).
  20. Ioan Micula, Viorel Micula and others v. Romania, ICSID Case No. ARB/05/20, Decision on Annulment (26 February 2016).
  21. Patrick Mitchell v. Democratic Republic of the Congo, ICSID Case No. ARB/99/7, Decision on the Application for Annulment of the Award (1 November 2006). Hussein Nuaman Soufraki v. United Arab Emirates, ICSID Case No. ARB/02/7, Decision on Annulment (5 June 2007).
  22. Maritime International Nominees Establishment v. Republic of Guinea, ICSID Case No. ARB/84/4, Decision on Annulment (22 December 1989) (Sucharitkul, Borches, Mbaye).
  23. El Paso Energy International Company v. The Argentine Republic, ICSID Case No. ARB/03/15, Decision on Annulment (22 September 2014).
  24. Malicorp Ltd. v. Arab Republic of Egypt, ICSID Case No. ARB/8/18, Decision on Annulment (3 July 3 2013).
  25. Amco Asia Corp. and others v. Republic of Indonesia (Amco II), ICSID Case No. ARB/81/1, Decision on the Applications by Indonesia and Amco Respectively for Annulment and Partial Annulment (17 December 1992).
  26. Daimler Financial Services A.G. v. Republic of Argentina, ICSID Case No. ARB/05/1, Decision on Annulment (7 January 2015).
  27. Consortium R.F.C.C. v. Kingdom of Morocco, ICSID Case No. ARB/00/6, Decision of the ad hoc Committee on the Application for Annulment of Consortium R.F.C.C. (18 January 2006).
  28. Klockner Industrie-Anlagen GmbH et al. v. United Republic of Cameroon and Societe Camerounaise des Engrais, ICSID Case No. ARB/81/2, Decision on Annulment (3 May 1985) (Lalive, El-Kosheri, Seidl-Hohenveldern).
  29. Wena Hotels Limited v. The Arab Republic of Egypt, ICSID Case No. ARB/98/4, Decision on Annulment (5 February 2002) (Kerameus, Bucher, Orrego Vicuna).
  30. Tidewater Investment SRL and Tidewater Caribe, C.A. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/10/5, Decision on Annulment (27 December 2015) (Yusuf, Abraham, Knieper).
  31. MTD Equity Sdn. Bhd. and MTD Chile S.A. v. Republic of Chile, ISCID Case No. ARB/01/7, Decision on Annulment (21 March 2007).
  32. ICSID website under Database of ICSID Member States.
  33. ICSID website under Process Overview.