Introduction

A review of the ICSID website today (Tue, 21 Dec. 2004) shows there to be six pending annulment proceedings, in addition to Vivendi which has been resubmitted to a new tribunal and Wena Hotels which is subject to a request for interpretation. A relatively narrow aspect of procedure in respect of annulment proceedings, namely the circumstances in which an ad hoc Committee may order a continuing stay of enforcement of an ICSID Award pending determination of an annulment application and whether a stay should be counter-balanced by a guarantee issued by the Award-debtor for ...