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Practising VirtueInside International Arbitration$
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David D. Caron, Stephan W. Schill, Abby Cohen Smutny, and Epaminontas E. Triantafilou

Print publication date: 2015

Print ISBN-13: 9780198739807

Published to Oxford Scholarship Online: January 2016

DOI: 10.1093/acprof:oso/9780198739807.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 September 2020

The Two Annulment Decisions in Amco Asia and ‘Non-Application’ of Applicable Law by ICSID Tribunals

The Two Annulment Decisions in Amco Asia and ‘Non-Application’ of Applicable Law by ICSID Tribunals

(p.689) 41 The Two Annulment Decisions in Amco Asia and ‘Non-Application’ of Applicable Law by ICSID Tribunals
Practising Virtue

Carolyn B Lamm

Eckhard R Hellbeck

David P Riesenberg

Oxford University Press

This chapter re-examines closely the annulment decisions in the Amco Asia v Indonesia case, which were pivotal to the establishment of the appropriate annulment legal standard in International Centre for Settlement of Investment Disputes (ICSID) arbitration. It highlights the often-overlooked fact that the first annulment decision (Amco Asia I) established a lower bar than the one usually applied today for the challenge of ICSID awards based on an ICSID tribunal’s ‘manifest excess of powers’. It was the innovative (and more stringent) standard adopted by the second annulment committee (Amco Asia II) that is typically adopted to this day under Article 52 of the ICSID Convention. The chapter concludes by juxtaposing Amco Asia II’s standard for annulment based on manifest excess of powers with national legislative regimes, noting that those systems usually do not turn at all on the distinct standard introduced by Amco Asia II.

Keywords:   investment treaty arbitration, ICSID, annulment, awards, manifest excess of powers

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