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ARTICLE · 05 JULY 2022

New ICSID Rules Take Effect

Gowling WLG
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On 21 March 2022, the International Centre for Settlement of Investment Disputes ("ICSID") announced that its Member States had approved "a comprehensive set of amendments" for ICSID and ICSID...

United KingdomLitigation, Mediation & Arbitration
Gordon Bell
Gordon Bell
Tom Price
Tom Price
Patrick Fox
Patrick Fox
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On 21 March 2022, the International Centre for Settlement of Investment Disputes ("ICSID") announced that its Member States had approved "a comprehensive set of amendments" for ICSID and ICSID (Additional Facility) proceedings. The product of a five-year working paper process, the 2022 ICSID Convention Rules and Regulations took effect from 1 July 2022, marking a material development for investor-State dispute resolution.

ICSID in a nutshell

ICSID is an international institution created to resolve disputes between investors (whether individuals or companies) and the foreign States in which they invest. There are currently 163 Member States to the 1965 ICSID Convention, including the UK, the USA, China, Australia and the vast majority of countries in Europe. However, there are also some notable omissions, such as India, Russia (which has signed the ICSID Convention but never ratified it), as well as countries that have recently withdrawn from the ICSID

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