It is a truth universally acknowledged that investment arbitrations are drawn-out affairs. Proceedings before the International Centre for Settlement of Investment Disputes (ICSID), in particular, are frequently criticised for their excessive length. The 19 ICSID Convention awards issued in 2012 came after an average of nearly five years of proceedings. Moreover, an award is often, to paraphrase Churchill, merely the end of the beginning, thanks to the annulment applications that so frequently follow.
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Originally published in Global Arbitration Review Volume 8, Issue 5
A longer scholarly article on the same topic is forthcoming in Transnational Dispute Management.
The views expressed in this article are the author's alone and do not reflect the views of his firm. A longer scholarly article on the same topic is forthcoming in Transnational Dispute Management.