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- 저자 : ( Vasily Shubin ) (검색결과 1 건)
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The Enforcement of ICSID arbitral awards, practice and problems
( Vasily Shubin ) 고려대학교 법학연구원 2012 Korea University Law Review Vol.11 No.-
Recent cases of the enforcement of ICSID (International Centre for Settlement of Investment Disputes) awards against the sovereigns in the territory of other Contracting States to the ICSID Convention demonstrate that the execution of the award is a complicated procedure and is subject to the doctrine of state immunity. The operation of the sovereign immunity doctrine significantly reduces the chances of executing the awards. As a consequence, the investors may lose confidence in the ICSID system. The study of ICSID enforcement practice in different jurisdictions and comparative approach to other international arbitral awards` enforcement regimes indicated various problems that investors face while attempting the execution of the arbitral awards. Nevertheless, the ICSID regime of recognition and enforcement of the awards is more advanced and better equipped for its purposes. In combination with the restrictive approach to the state immunity doctrine adopted by most states in the world, the enforcement of the ICSID awards is still possible. Thus, investors should not hesitate in taking actions against non-complying states, proving that the ICSID serves its objectives.
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