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Appears in Collections:Law and Philosophy Journal Articles
Peer Review Status: Refereed
Title: Who is in? Who is out? How Can the UNCITRAL Transparency Rules Influence the Upcoming Amendments of the ICSID Arbitration Rules (Forthcoming)
Author(s): Yu, Hong-Lin
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Citation: Yu H (2018) Who is in? Who is out? How Can the UNCITRAL Transparency Rules Influence the Upcoming Amendments of the ICSID Arbitration Rules (Forthcoming), Contemporary Asia Arbitration Journal.
Abstract: First paragraph: ICSID (International Centre for Settlement of Investment Disputes) began its fourth amendment process on 7 October 2016. The amendment attempts to deliver the goals of: (1) modernise the ICSID Arbitration Rules, (2) address the practical issues arising from case experience, (3) increase effectiveness and due process, and (4) maintain a balance of rights and duties between investors and its 153 Member states. The issue of wider transparency is highlighted as one of the priorities of the current amendment after a wider consultation in 2017. Prior to the current amendment, the third amendment 2006 brought in the limited practice of publication of the excerpt of awards, open hearings and filing amicus curiae briefs. Following the changes, Rule 48 of Arbitration Rules provides publication of awards with parties’ consent or publication of excerpts of awards without parties’ consent; Rule 32, subject to either party’s objection, opens up hearings and non-disputing parties are given the rights to apply for filing amicus curiae briefs with the relevant criteria for their participation set in Rule 37.
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