Introduction

Article 71 of the ICSID Convention allows its signatory States to denounce it six months after they communicate their decision to do so to the depositary of the Treaty. According to Articles 25(1) and 72 of the Convention, former members of the ICSID Convention are still bound by their consent to arbitration given in treaties in which they are a party, even many years after the denunciation takes effect. As a matter of fact, in 2012 ICSID's Secretariat registered two new claims against countries that had previously withdrawn from the Convention. Furthermore, countries that decide to ...