The annulment mechanism of icsid arbitral awards: What it is, where it is headed to

Abstract

This article analyzes the process of annulment of arbitral awards produced by icsid. Regarding the mechanism of annulment of arbitral awards, this article presents an observation of the elements required by article 52 of the icsid Convention, and the way in which this mechanism differs from that contained in the New York Convention of 1958. This, given the characteristics of the icsid mechanism, which can be said to be international, self-contained, horizontal, and exceptional. Additionally, this article studies the tendencies that have existed with respect to the scope of the decisions of ad hoc Commissions for the annulment of icsid awards, including the possibility of a new generation of decisions after 2010. This analysis is done with the purpose of answering the question of whether, in fact, there have been evidently different tendencies as far as the attributions taken by ad hoc Commissions, or whether these differences are, in reality, some deviations from a more or less constant line of decisions that are respectful of the criteria used by arbitral tribunals in their decisions.