Published 1 November 2021
(Paper in Spanish) On June 11, 2020, an ICSID award was annulled for the first time on the grounds that the tribunal was not properly constituted, due to the lack of independence and impartiality of an arbitrator.
This decision raises a number of questions: What is the standard of disclosure of an arbitrator in an ICSID arbitration? What does being independent and impartial entail? What is the standard for challenging an arbitrator? The purpose of this article is to answer these questions.
We conclude that the case in question will have an impact on the practice of investment arbitration, as it will be a benchmark for decisions on the challenge or annulment of awards. Especially in Latin America, where the world of arbitrators and experts specialized in this type of arbitration is limited and the process of searching for and appointing arbitrators could become slow and costly if the standard set by the case in question is followed.
This paper will be part of the TDM Special Issue on "The Future of Investment Law in Latin America". More information here www.transnational-dispute-management.com/news.asp?key=1842