LGST 219 - Class 7 Notes

LGST 219 - Class 7 Notes - Lecture 7 Sept 28 1 ICSID is an...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 7, Sept 28 1. ICSID is an expedited way of arbitration. 1. If you're in ICSID and you don't like the result, ICSID has its own hierarchy and you can appeal. 1.a. Improper panel constitution 1.a. Arbitration went beyond what was submitted to it 1.b. Arbitration was corrupt. 1.a. Unfair procedure, which would include things like failure to give a party adequate notice. 1.b. Arbitrators did not preserve reasoning so that it was possible to see why they reached the result they did. 1. You go to ICSID because you want a quick arbitration at a reasonable cost, that will be enforced. But if you're in ICSID you will have the same choice of law problems. You will still have to select appropriate law. 1. What you have to do when you're considering an investment overseas is to see if the host government has ratified ICSID. 1. Some states have said that we agree to go to ICSID arbitration but only on condition that the party bringing the claim has first exhausted local remedies. 1.a. No remedies available at law. 1.a. No remedies available at fact - courts were very unlikely to rule against the government because they are so biased. 1. ICSID was originally proposed by the world bank with a view to promote investments in the poorer countries. 1. There can be all sorts of psychological elements to bringing an issue to ICSID. France, for example, was furious when Disney wanted to build an amusement park in France and bring the issue to ICSID if any disputes arose. They said that France is not a "banana republic". They were thinking back to the original purposes of establishing ICSID. 1. Jurisdiction vs. Nationality. Often questions of jurisdiction (whether courts have power to decide a case) are tied to nationalities. 1.a. Jurisdiction is not always overlapping with nationality, but in some cases they do. 1. Jurisdiction deals with the scope of the power of the courts. Does the court have the power to decide and enforce the case? What subject matter they decide, what parties they call in the courts to decide their rights and obligations. We have to define the jurisdiction of the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 3

LGST 219 - Class 7 Notes - Lecture 7 Sept 28 1 ICSID is an...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online