The evolution of summary procedure in investment arbitration: past, present and future

Abstract

Abstract The last 15 years have witnessed a substantial rise of summary procedure to gradually become more and more significant in the world of investment arbitration since ICSID Arbitration Rules first introduced it in 2006. Before the emergence of this procedure that allows early dismissal of claims, various states have criticized the time and costs needed to defend their position in investment proceedings. Against this background, the birth of summary procedure aims to help parties to save time and costs and avoid unnecessary consumption of parties’ resources by disposing of manifestly frivolous and unmeritorious at an early stage of the proceedings. This feature has captured much attention since major arbitration institutions started to adopt it, with ICSID being the pioneer, followed by the Singapore International Arbitration Centre (SIAC) and the Arbitration Institute of the Stockholm Chamber of Commerce (SCC). Given its increasing importance in investment disputes, the ICSID has lately published a series of Working Papers which, among many other things, proposed to enhance the rule on ‘manifest lack of legal merit’. This article aims to look back on the evolution of summary procedure in investment arbitration for the last 15 years by examining its genesis and development, the current regime, and tribunals’ application of this procedure in practice, the future contemplated by the ICSID proposed amendments.