Introduction

The following analysis explores the significance of opening ICSID awards to appellate review, concluding that, although accuracy is a valid factor motivating the promotion of appeal, investors continue to prefer finality and so there is insufficient interest to compel the adoption of the Appeals Facility. Part I distinguishes appeals from the current standards of review available to international arbitration awards in ICSID and other jurisdictions. I begin by briefly defining the various levels of appellate review, differentiating between review of the legitimacy of the process ...