The Challenge of UNASUR Member Countries to Replace ICSID Arbitration
Silvia Karina Fiezzoni
.
DOI: 10.4236/blr.2011.23014   PDF    HTML     8,763 Downloads   17,957 Views   Citations

Abstract

In the 2000s, the financial crisis in Argentina and several nationalizations carried out by governments in South America have spawned a large number of claims before International Centre for Settlement of Investment Disputes (ICSID). Latin Americans began to look at ICSID critically, there have been complaints about ICSID's connections with the World Bank; non-commercial interests, such as health or environmental protection, have not received adequate attention in the arbitration cases; a lack of transparency by arbitration panels; and the absence of an appeals process, but only a limited annulment procedure. This situation generates impacts upon the overall due process of ICSID arbitrations and Latin American hostility against ICSID, such the Bolivarian Alliance for the Peoples of our America Peoples'Trade Treaty (ALBA-TCP) Declaration to denounce ICSID Convention and the firm intention of Union of South American Nations (UNASUR) countries to create a regional arbitration centre to replace ICSID arbitration.

Share and Cite:

S. Fiezzoni, "The Challenge of UNASUR Member Countries to Replace ICSID Arbitration," Beijing Law Review, Vol. 2 No. 3, 2011, pp. 134-144. doi: 10.4236/blr.2011.23014.

Conflicts of Interest

The authors declare no conflicts of interest.

References

[1] International Center for Settlement of Investment Disputes, “Search ICSID Cases,” 2011. http://icsid.worldbank.org/ICSID/FrontServlet?requestType=CasesRH&reqFrom=Main&actionVal=ViewAllCases
[2] K. F. Gómez, “Latin America and ICSID: David versus Goliath?” Research Paper, University of Zaragoza, Zaragoza, 2010. http://ssrn.com/abstract=1708325
[3] M. H. Mourra, Con-cluding Note, In: M. H. Mourra, Ed., Latin American Invest-ment Treaty Arbitration. The Con- troversies and Conflicts, Kluwer Law International BV, 1st Edition, The Netherlands, 2008, p. 196.
[4] U.S.-China Economic & Security Review Commission, “Backgrounder: China in Latin America,” Re-search Re- port, 2011, pp. 9-10. http://www.uscc.gov/Backgrounder_China_in_Latin_America.pdf
[5] S. Rodriguez-Jimenez, “The ICSID faces Argentina, México, Ecuador and Bolivia an Update,” Research Paper, Instituto de Investigaciones Jurídicas de la UNAM, México, p. 244. http://www.bibliojuridica.org/libros/6/2815/13.pdf
[6] S. D. Franck, “Development and Outcomes of Investment Treaty Arbitration,” Harvard International Law Journal, Vol. 50, No. 2, 2009, pp. 443-444. http://ssrn.com/abstract=1406714
[7] S. P. Kumar, “Rethink-ing the Linkages between Foreign Direct Investment and De-velopment: A Third World Perspective,” NALSAR Student Law Review (E-Journal), Vol. 31, 2009, p. 38. http://www.nalsarstudentlawreview.com/files/Shashank.pdf
[8] A. Sheppard, “Arbitrator Independence in ICSID Arbi- tra-tion,” In: C. Binder, U. Kriebaum, A. Reinisch and S. Wittich, Eds., International Investment Law for the 21st Century, Ox-ford University Press, New York, 2009, p. 132. doi:10.1093/acprof:oso/9780199571345.003.0010
[9] N. Rubins and B. Lauterburg, “Independence, Impartiality and Duty of Disclosure in Investment Arbitration,” In: C. Knahr, C. Koller, W. Rechberger and A. Reinisch, Eds., Investment and Commercial Arbitration-Similarities and Divergences, Eleven International Publishing, The Neth- erlands, 2010, p. 172.
[10] M. H. Mourra, “The Conflicts and Controversies in Latin American Treaty-Based Disputes,” In: M. H. Mourra, Ed., Latin American Investment Treaty Arbitration, Kluwer Law International BV, 1st Edition, The Netherlands, 2008.
[11] World Bank Group, “Bolivia leaves the ICSID,” http://web.worldbank.org/WBSITE/EXTERNAL/BANCOMUNDIAL/EXTSPPAISES/LACINSPANISHEXT/BOLIVIAINSPANISHEXT/0,print:Y~isCURL:Y~contentMDK:22766950~pagePK:1497618~piPK:217854~theSitePK:500410,00.html
[12] “CIADI/Telecom Italia: ?hands off Bolivia!” pp. 16-17. http://www.cadtm.org/IMG/pdf/ICSID_TI_Hands_off_Bolivia.pdf
[13] D. S. Bernal, “International Arbitration in Latin Ame- rica,” Comparative Commercial Law, 2009, pp. 5-6. http://www.natlaw.com/interam/mx/ad/sp/sparad00002.pdf.
[14] G. Biggs, “The Latin American Treatment of Interna- tional Arbitration and Foreign Investments and the Chile- U.S. Free Trade Agreement,” ICSID Review. Foreign In- vestment Law Journal, Vol. 19, No. 1, 2004, p. 68.
[15] T. J. Pate, “The Past, Present and Future of the Arbitral Clause in Foreign In-vestment Legislation: In Pursuit of The Balance,” Research Paper, pp. 73-74. http://www.desolapate.com/publicaciones/The%20Past%20Present%20and%20Future%20of%20the%20Arbitral%20Caluse%20in%20Foreign%20Investment%20Legislation,%20In%20Pursuit%20of%20The%20Balance.pdf
[16] International Center for Settlement of Investment Gisputes, “List of Contracting States and Other Signatories of the Convention,” 5 May 2011. http://icsid.worldbank.org/ICSID/FrontServlet?requestType=ICSIDDocRH&actionVal=ShowDocument&language=English
[17] Bolivarian Alliance for the Peoples of Our American Peoples’ Trade Treaty. http://www.alba-tcp.org
[18] Decision of Bolivarian Alliance for the Peoples of Our American Peo-ples’ Trade Treaty about International Cen- ter for Settlement of Investment Disputes, 2 May 2007. http://www.sns.gob.bo/institucional/pag-doc/para%20la%20pagina%20WEB%20Antitransparencia/ALBA/ALBA-TCP/ALBA_TCP_001/ANEXO_001_IV.pdf
[19] “Ecuador’s Notification under Article 25(4) of the ICSID Convention,” 23 November 2007. http://icsid.worldbank.org/ICSID/FrontServlet?requestType=ICSIDPublica-tionsRH&actionVal=ViewAnnouncePDF&AnnouncementType=regular&AnnounceNo=9.pdf
[20] S. Noury and C. Richard, “International Arbitration in Latin America: Overview and Recent Developments. International Arbitration 2008. A prac-tical insight to cross- border International Arbitration work: Chapter 38,” Glo- bal Legal Group, 2008. http://www.iclg.co.uk/khadmin/Publications/pdf/2574.pdf
[21] “Executive Decree 1823/2009,” Article 1. http://www.sigob.gov.ec/decretos/decretos.aspx?id=2007
[22] “Supreme Decree No. 28701,” Articles 1, 2, 5, 6 and 7. http://www.offnews.info/downloads/decreto_bolivia.pdf
[23] I. Vincentelli, “The Uncertain Future of ICSID in Latin America,” Independent Research Paper, University of Miami School of Law, 2008. http://ssrn.com/abstract=1348016
[24] Bolivian Movement for the Sovereignty and the Soli- darity Integration of the Peoples: Against NAFTA and the FTAA, "Bolivia Starts an International Campaign against the ICSID: Will Renegotiate 24 Investment Protection Treaties,” May 2007. http://www.boliviasoberana.org/blog/_archives/2007/5/9/2937469.html
[25] Presidential Decree No. 29589, Articles 1 and 2, June 5, 2008. http://www.gacetaoficialdebolivia.gob.bo/normas/verGratis/27104
[26] A. van Aaken, “International Investment Law and Ra- tionalist Contract Theory,” Dissertation in NYU School of Law: IILJ International Legal Theory Colloquium Spring 2009 Virtues, Vices, Human Behavior and Demo- cracy in International Law, 2009, p. 24. http://www.iilj.org/courses/documents/2009Colloquium.Session2.Aaken.pdf
[27] Supreme Decree N. 29894 – DOE, Articles 13 and 42. http://www.sns.gob.bo/documentacion/normativas/Estructura%20organizativa%20del%20Poder%20Ejecutivo% 20del%20Estado%20Plurinacional.pdf
[28] Attorney General's Office. Plurinational State of Bolivia, “Institutional Objectives,” 2011. http://www.procuraduria.gob.bo/index.php/objetivos-institucionales.html
[29] C. Coronel-Jones, “The future of international arbitration in Ecuador: the boomerang effect,” 22 July 2010. http://www.internationallawoffice.com/newsletters/detail.aspx?g=e46353d6-6931-47da-9acd-a187dcf9cf84.
[30] G. Van Harten, “Five Justifications for Investment Trea- ties: A Critical Discussion,” Trade, Law & Development Vol. 2, No. 1, 2010, p. 4. http://ssrn.com/abstract=1622928
[31] Constitutional Court, Case No. 0004-10-TI, Dicision No. 027-10-DTI-CC, 29 July 2010, p. 26. http://186.42.101.3/alfresco/d/d/workspace/SpacesStore/62d8f4a1-3f78-4f8a-b1d3-1604f8e9e2f2/0004-10-TI-res.pdf
[32] F. C. Diaz, “Ecuador prepares for life after ICSID, while debate continues over effect of its exit from the Centre,” 28 August 2009. http://www.iisd.org/itn/2009/08/28/ecuador-prepares-for-life-after-icsid-while-debate-continues-over-effect-of-its-exit-from-the-centre/
[33] Venezuela’s Government, Ministry of Popular Power for Energy and Petroleum, “Full Petroleum Sovereignty. A Popular, National and Revolutionary Policy,” Speeches Series 2, 20 Octubre 2005. http://www.pdvsa.com/interface.sp/database/fichero/publicacion_opep/2376/169.PDF.
[34] Venezuela’s Government, Ministry of Popular Power for Energy and Petroleum, “Planting Petroleum Plan 2005- 2030,” pp. 4-6. http://www.pdvsa.com/index.php?tpl=interface.sp/design/readmenuprinc.tpl.html&newsid_temas=32
[35] R. R. Quijada, “The "Survival Clause" in the Netherland Venezuelan BIT: A Salvation Gateway for Foreign Investment in the oil Sector or a Curse for the Venezuelan Government?” Research Paper of University of Dundee, p. 5, CAR-12_29_26223666_0-2.pdf.
[36] Supreme Court, Case No. 08-0763, Dicision 1541, 17 Oc- tober, 2008, para. 124. http://www.tsj.gov.ve/decisiones/scon/octubre/1541-171008-08-0763.htm
[37] “Union of South American Nations Treaty,” Articules 1 and 3. http://www.pptunasur.com/downloads/tratado-constitutivo-UNASUR.pdf
[38] The Universe, "South American Foreign Ministers Put into Effect the Treaty of UNASUR,” 11 March 2011. http://www.eluniverso.com/2011/03/11/1/1355/cancilleres-sudamericanos-pusieron-vigencia-tratado-unasur.html
[39] C. Leathley, “What will the recent entry into force of the UNASUR Treaty mean for investment arbitration in South America?” Network for Justice in Global Invest- ment, April 2011. http://justinvestment.org/2011/04/what-will-the-recent-entry-into-force-of-the-unasur-treaty-mean-for-investment-arbitration-in-south-america/
[40] Ministry of Justice Human Rights and Religious Affairs of Ecuador. “Final Declaration of the Summit of UNASUR Judicial Power,” 25 June 2010. http://www.minjusticia-ddhh.gov.ec/index.php?option=com_content&view=article&id=2518:declaracion-final-de-cumbre-de-poderes-judiciales-de-unasur&catid=276:institucionales&Itemid=59%27
[41] C. Kee, “Judicial Approaches to Arbitrator Independence and Impartiality in International Commercial Arbitra- tion,” In: C. Knahr, C. Koller, W. Rechberger and A. Reinisch, EdS., Investment and Commercial Arbitration- Similarities and Divergences, Eleven International Pub- lishing, The Netherlands, 2010, pp. 183-184.
[42] A.T. Guzman, “International Tribunals: A rational choice analysis,” University of Pennsylvania Law Review, Vol. 157, No. 171, 2008, p. 197. http://www.pennumbra.com/issues/pdfs/157-1/Guzman.pdf

Copyright © 2024 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.