Abstract

Due to the changes that have taken place in the international environment in the last decade, the system for settlement of investment disputes is now, more than ever, subject to public scrutiny, leading to questioning its adequacy to current relations. The further development of this system, as well as its survival, are both at stake. In addressing what should be done, this paper focuses specifically on the ICSID rules. It concludes that there should be no appellate procedure under ISCID, because the lack of confidence in the system is based not on imperfections of the prescribed ...