State Compliance with Investment Awards

When the ICSID system was being set up, matter of compliance with investment awards rendered against States considered "academic". ICSID’s architects believed that as long would remain under an international obligation to comply they generally do so. Writing in 2000s and early 2010s, commentators observed have complied adverse awards. In last two decades, number investor-State arbitrations has soared, more damages been States. This analysis seeks contribute a fact-based debate on future law by addressing under-examined but essential aspect regime, namely, It assesses empirically experience arbitration thirty-two most sued States, covering approximately 70% all cases initiated through end 2019. The data examined indicates founders’ prognosis be non-issue—framed it such sweeping terms—has not held true. Whereas majority (usually after seeking annulment), instances non-compliance or significantly delayed are important. A significant proportion where ordered pay required enforcement proceedings. Instances home State’s intervention--and inevitably re-politicization dispute--have resurged. There is thus gap between regime’s authority effectiveness needs addressed. Still, regardless its imperfections, could said modern dispute resolution continues revolutionary, particular when compared antecedent which rested almost entirely inclination State espouse nationals’ claims.