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Icsid Cases In 2020, Affected Or Not By Covid 19

Author

Listed:
  • Mihai BERINDE

    (Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

  • Dana Maria PETRICA

    (Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

  • Liana-Eugenia MESTER

    (Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

Abstract

The present paper intends to present the evolution registered in the ICSID - International Centre for Settlement of Investment Disputes – cases during FY2020, comparing with the historical evolution, in order to identify the possible effect of COVID 19 on the dynamics of registering and administrating cases and also in the hearings, if any. Many economic sectors had been deeply affected by the pandemic, and they have shown a real capability to adapt their way of acting and doing things. International arbitration made no difference, and it showed a real adaptive capacity, allowing the existing cases to follow their path and also registering new cases without delays. In 16 April 2020 the leading organisation of arbitration (the CRCICA, DIS, ICC, ICDR/AAA, ICSID, KCAB, LCIA, MCA, HKIAC, SCC, SIAC, VIAC and the International Federation of Commercial Arbitration Institutions) released a common statement on COVID 19: “Collaboration is particularly important as each of our institutions looks to ensure that we make the best use of digital technologies for working remotely.†The first element to be notice in the 2020 ICSID Statistics is the fact that the number of the cases registered during 2020 had touched a new record, 58 new cases. The previous record was of 56, and was registered in 2018, meanwhile in 2019 there were registered 39 new cases. One big difference occurred in the way of holding the hearings, in the last 9 months of the year 2020, all the hearings were held remotely, 78% by video and 22% by phone. ICSID had developed and used their one video conferencing platform. In terms of industry, States parties involved, proceedings outcomes, nationality of arbitrators appointed there were some evolutions but with no significant changes.

Suggested Citation

  • Mihai BERINDE & Dana Maria PETRICA & Liana-Eugenia MESTER, 2021. "Icsid Cases In 2020, Affected Or Not By Covid 19," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 30(2), pages 418-426, December.
    • Handle: RePEc:ora:journl:v:30:y:2021:i:2:p:418-426
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    References listed on IDEAS

    as
    1. Petrica Dana Maria & Mester Liana-Eugenia & Berinde Mihai, 2018. "Icsid Cases In Which Damages Were Awarded Based On Market Approach," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 279-286, July.
    2. Theodore H. Moran, 2011. "Foreign Direct Investment and Development: Launching a Second Generation of Policy Research: Avoiding the Mistakes of the First, Reevaluating Policies for Developed and Developing Countries," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6000, October.
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    More about this item

    Keywords

    ICSID; damages; foreign direct investment; international disputes;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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