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Volume XII, Number 335

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Brief Analysis of ICSID 2022 Fiscal Year Caseload

On October 14th, 2022, the International Centre for Settlement of Investment Disputes (ICSID) published its Annual Report for Fiscal Year (FY) 2022 covering the period from 1 July 2021 to 30 June 2022, including statistics on cases administered by the Centre during that period. 

Similar figures had been published in the latest edition of ICSID Caseload Statistics. The Annual Report can be viewed here, and ICSID’s accompanying press release can be viewed here.

Decrease in Number of Registered Cases 

According to ICSID (one of the five organizations of the World Bank Group), a total of 50 news cases were registered in FY 2022, marking a decrease as compared to the 66 total cases registered in FY 2021.

Treaty-Based Cases Dominate 

The vast majority of cases registered in FY 2022 were brought under Bilateral Investment Treaties (BITs). These cases account for 56% of all new cases registered between July 2021 and the end of June 2022, followed by contract-based cases between investors and host States (13%), cases arising under the Energy Charter Treaty (11%), and cases brought on the basis of domestic investment laws (4%).

In addition, FY 2022 saw a variety of regional trade investment agreements invoked by investors, such as the North American Free Trade Agreement (NAFTA), now replaced by the United States–Mexico–Canada Agreement (USMCA), as well as the Dominican Republic-United States-Central America Free Trade Agreement (DR-CAFTA).

Balanced Case Outcomes Between States and Investors

Following the historical trend at ICSID, FY 2022 revealed a relatively balanced outcome of cases between States and foreign investors. Among cases adjudicated, 48% of awards upheld the investor’s claims in full or in part, and 28% of the cases concluded with the dismissal of the case. The remaining 24% were discontinued for various reasons.

Some Slow Progress Towards Geographical Diversity and Gender Equality

As in previous years, ICSID tribunals were populated heavily by arbitrators from Western Europe (41%), followed by arbitrators from North America (21%) and South America (17%). These figures reflect a modest improvement in tribunal diversity in comparison to the figures for 1966-2021, during which period over two thirds of appointments were of nationals from Western Europe or North America.

The distribution of appointments by gender has also remained similarly unbalanced. In FY 2022, 24% of the appointed arbitrators, conciliators, and ad hoc committee members were women, a slight decrease compared to the 27% appointed in 2021 but still more than the 23% appointed in 2020.

© 2022 ArentFox Schiff LLPNational Law Review, Volume XII, Number 326
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About this Author

Lee Caplan Arbitration Attorney ArentFox Schiff Washington DC
International Arbitration & Dispute Resolution Practice Co-Leader

Lee is a partner in our Washington, DC office and co-leader of the firm’s International Arbitration & Dispute Resolution practice.

Lee counsels private and sovereign clients in a wide range of matters involving international dispute resolution, public international law, and international investment law and policy. He regularly appears before international tribunals in connection with complex and high-value disputes arising out of concession agreements, investment treaties, and other international agreements. Lee's experience spans a range of...

202-857-6337
Timothy J. Feighery Attorney Arbitration ArentFox Schiff Washington DC
International Arbitration & Dispute Resolution Practice Co-Leader

Tim is a partner in our Washington, DC office and co-leader of the firm’s International Arbitration & Dispute Resolution practice.

Tim’s practice focuses on international arbitration, international claims, and dispute resolution work, including the representation of sovereign states, investors, and private parties in international commercial transactions. Current active matters include: representation of US investors in investment dispute brought under the US-Colombia Trade Promotion Agreement; representation of Sovereign in two separate...

202-857-6085
Ucheora Onwuamaegbu Attorney Arbitration ArentFox Schiff Washington DC
International Attorney

Uche regularly provides advisory services and acts as arbitrator in international disputes.

For more than a decade, Uche was Senior Counsel at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), in Washington, DC. He was involved, as Secretary or Team Leader, in over 70 cases in various economic sectors, including oil, gas, and mining, construction, agriculture, finance, and tourism; and was a core member of the 2016 ICSID Rules amendment team. Prior to ICSID, he was a lawyer at the United Nations Compensation...

202-350-3689
Associate

Maya has a background in international arbitration, international investment law, and complex litigation with experience in the U.S., Europe, and within international organizations.

Prior to returning to ArentFox Schiff, Maya worked previously at a boutique complex litigation firm, the Department of Health and Human Services, Brooklyn Defenders Services, the Office of the High Commissioner of Human Rights, the International Residual Mechanism for the Criminal Tribunals, and the U.S. Embassy in Paris, France.

202-350-3664
Maxime Jeanpierre International Arbitration Lawyer
International Attorney

Max’s practice focuses on international arbitration and dispute resolution, including the representation of states and investors before international fora, such as the World Bank’s International Centre for the Settlement of Investment Disputes (ICSID) and the International Chamber of Commerce (ICC), as well as the representation of sovereigns in maritime boundary disputes under the United Nations Convention on the Law of the Sea (UNCLOS).

Current active matters include: representation of a Canadian investor in a tax dispute brought against...

202-350-3661
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