ICSID

News: 22.02.2024

The News and Events category publishes the latest News and Events relating to International Economic Law relating to Africa and the Global South. Every week, Afronomicslaw.org receive the News and Events in their e-mail accounts. The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law. News and Events with a Global South focus are also often included.

Making the Multilateral Investment Court Beneficial for African Local Communities

This contribution has looked at the extent to which the MIC can improve the participation of African local communities in ISDS and ensure a better protection of their rights and interests. It started by discussing the current participation of these communities in ISDS with a view of identifying the challenges these communities are facing before analyzing how the MIC can address some of these challenges. Emphasis should be placed on the selection of MIC members and encourage the appointment of members with broad expertise in (public)international law and public issues and not experts with only commercial background. Indeed, most recent investment agreements contain provisions that protect local communities. The challenge therefore lies in how these agreements are interpreted and applied. In addition, the MIC investment advisory centre should extend its services to local communities and assist them in the drafting and submission of their briefs to investment tribunals.

Is the Arbitral Award in the Eco Oro v Colombia Dispute "Bad Law"?

The Eco Oro arbitral award demonstrates that there is still a long way to go before the adjustments that ISDS needs to make to correct its profound inequalities are taken seriously. This system not only continues to exclude the actors most affected by its decisions like local communities, but also continues to redefine, through typical private law devices, rules and substantive aspects of our democracies.

The Fate of the Developing States in International Arbitration and the Fair and Equitable Treatment Standard

In this book, the author took the interdisciplinary approach to explore the application of the FET clause in the IIAs between developed and developing countries as well as its subsequent effects on the socio-economic context of the developing state. The main aim of this book as stated in p. 171 is to re-conceptualize the FET clause from the perspective of the host States with comprehensive consideration of their social, political, and economic conditions.

Dutch and Nigerian Subsidiaries of Oil Giant Eni Bring OPL 245 Battle to ICSID

On October 9, the Dutch and Nigerian subsidiaries of Italian Eni have filed a request for arbitration at ICSID. The dispute revolves around Shell and Eni’s 2011 purchase of the Oil Prospecting Licence (“OPL 245”) from the company Malabu Oil and Gas Limited (“Malabu”) for USD $1.3 Billion.

The current edition of the ICSID Review focuses on Africa and the ICSID Dispute Resolution System

There are many great things to say about the volume including the discussion about Africanization of international investment law and finding Africa's voice in it. Much of what one would have expected to see about Africa and ICSID is in there.