Introduction

Four of the ad hoc Committees appointed under article 52(3) of the ICSID Convention have in deciding to continue the stay of enforcement of awards under article 52(5) of the Convention required the applicant requesting such stay to provide a bank guarantee. In Amco 1[1] the ad hoc Committee granted the stay, provided that Indonesia furnished an irrevocable and unconditional bank guarantee for payment of the Award in accordance with the final decision as the ad hoc Committee might reach. It appears a similar order was made in Amco II[2] Unfortunately these decisions have ...