Introduction

We are continuing 2005 with a massive issue of TDM, increasing its coverage of relevant and recent developments in international commercial arbitration, but again with a focus on international investment law as applied in modern investment arbitration jurisprudence. I note with satisfaction that we have substantive and in-depth contributions from leading practitioners and academics in investment arbitration - such as Emmanuel Gaillard of Shearman Sterling and Professor Schreuer - both authors of highly influential compendia on ICSID jurisprudence. But it seems to become "de rigueur" for the younger and promising arbitration professionals and academics with international ambition to write brief focused comments on relevant cases and specific issues which are currently hotly debated in numerous on-going cases.

TDM 3 (2005) includes a further special focus on Argentina. Argentina is currently the most frequent respondent before ICSID tribunals; there is a lot of smoke coming out of the internal Argentine debate which suggests that a string of losses might induce Argentina in effect to refuse compliance with its obligations under the ICSID convention. Such threats tend to get diluted over the long term as the domestic debate will mull over the longer-term costs and benefits of effectively withdrawing from a convention that still defines the benchmark for good-governance and compliance with the rules of the international market-place.

The Yukos case in Russia has generated several legal opinions before the Federal Bankruptcy Court in Houston which are public record and which the authors consented to make public. We are likely to increase, for the sake of investment arbitration transparency but also best information of TDM subscribers, publication of expert legal opinions in significant cases which become part of the public record.

TDM also includes practical information on tax matters relevant to international dispute professionals. Its link with my internet forum, OGEMID - which has become the most relevant, up to date and necessary information tool for professionals in the field - is getting closer: We publish in this TDM issue some selected items from the OGEMID discussion, but we are about to set up an efficiently searchable database for OGEMID postings and discussion.