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Oxford: Oxford University Press, 2012. Pp. 336. £142.50. ISBN: 978-0-19-965374-4. There has been considerable discussion about the scope of annulment by ad hoc committees, and whether or not reforms to the regime under Article 52(1) of the ICSID Convention are needed. Much of that discussion was prompted by a handful of annulment decisions rendered from June to August 2010 ( Helnan, Sempra , Enron , and Vivendi II ) 1 that were criticized as having overreached the intended scope of the review. In the months that followed those decisions, however, other ad hoc committees rendered decisions ( Vieira , Fraport , and Duke ) 2 that suggested that a ‘readjustment’ was underway, justifying cautious optimism that the limited nature of annulment intended by the drafters of the ICSID Convention would be respected. 3 The later more cautious trend has continued through to 2014. There is, however, a separate phenomenon that has emerged during that same time period: a marked increase in the number of annulment applications instituted at ICSID. 4 In short, what was once an application of an extraordinary nature is becoming a ‘knee jerk’ reaction to any party’s perceived loss of an ICSID Convention arbitration. The
Journal of World Investment and Trade – Brill
Published: May 12, 2015
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