List of ICSID Cases . . xv
Table of Cases . . xxxv
Table of Treaties . . xliii
List of Abbreviations . . li

1. Introduction . . 1
I. The International Bank for Reconstruction and Development . . 2
II. The International Finance Corporation, International Development Association and Multilateral Investment Guarantee Agency . . 5
III. The International Centre for Settlement of Investment Disputes . . 8

2. Origins of the Convention . . 11
I. Proposed multilateral approaches to the promotion of private foreign investment . . 12
  A. Investment insurance . . 12
  B. A code of conduct . . 13
  C. An arbitral body for investment disputes . . 16
II. The World Bank considers the proposals . . 18
  A. The Bank's wrk on an IIIA . . 18
  B. The proposed code of conduct . . 19
  C. The dispute settlement approach . . 21
III. The role of "Black's Bank" in the settlement of investment disputes . . 21
IV. The Bank begins to work on the initiative . . 24

3. Broches's "Working Paper" . . 27
I. The Working Paper . . 30
  A. Provisions on the establishment and organization of the Center . . 30
  B. Provisions on the jurisdiction of the Center . . 34
  C. Provisions on conciliation and arbitration . . 35
II. The initial meetings of the Committee of the Whole . . 37

4. The Preliminary Draft of the Convention . . 43
I. The Preliminary Draft . . 44
  A. Provisions on the establishment and organization of the Center . . 44
  B. Provisions on the jurisdiction of the Center . . 46
  C. Provisions on conciliation and arbitration . . 47
  D. Other provisions . . 49
II. Sources tor the Preliminary Draft . . 51
III. The regional consultative meetings . . 53
  A. Discussions regarding the establishment and organization of the Center . . 56
  B. Discussions regarding the jurisdiction of the Center . . 57
  C. Discussions regarding conciliation and arbitration . . 60
  D. Discussions regarding int proceedings, amendments and participation in the Convention . . 62

5. Finalizing the Text of the Convention . . 65
I. The First Draft . . 68
  A. Provisions on the establishment and organization of the Center . . 68
  B. Provisions on the jurisdtion of the Center . . 70
  C. Provisions on conciliation and arbitration . . 71
  D. Other provisions . . 74
II. The Legal Committee meetings . . 75
  A. Discussions regarding the establishment and organization of the Centre . . 77
  B. Discussions regarding the jurisdiction of the Centre . . 79
  C. Discussions regarding conciliation and arbitration . . 83
  D. Discussions of other provisions . . 87
III. Concluding steps . . 89
  A. The final meetings of the Committee of the Whole . . 90
  B. Approval of the final text . . 94

6. Establishment and Launch of the Centre . . 95
I. The Inaugural meeting of the Administrative Council . . 97
  A. Election of thtfirst Secretary-General of ICSID . . 98
  B. Adoption of the Provisional Regulations and Rules . . 100
  C. Approval of administrative and budgetary arrangement . . 101
II. The Provisional Regulations and Rules of the Centre . . 102
  A. The Provisional Administrative and Financial Regulations . . 103
  B. The Provisional Institution Rules . . 107
  C. The Provisional Conciliation Rules and Provisional Arbitration Rules . . 108
III. The Memorandum of Administrative Arrangements . . 112
IV. The first annual meeting of the Administrative Council . . 113
  A. The definitive Regulations and Rules . . 115
  B. The arrangements with the Permanent Court of Arbitration . . 117

7. ICSID's First Two Decades . . 119
I. Institutional developments . . 122
  A. Ratifications of the Convention . . 122
  B. The Administrative Council . . 122
  C. The Secretariat . . 125
  D. Designations to the Panels of Conciliators and of Arbitrators . . 128
  E. Other measures by Contracting States pursuant to the Convention . . 130
II. Promoting consents to the jurisdiction of ICSID . . 132
III. An overview of the early cases . . 135
IV. The 1984 amendments of the ICSID Regulations and Rules . . 138
V. The Additional Facility . . 141
  A. The initial proposal for an Additional Facility . . 141
  B. The draft Additional Facility Rules . . 145
  C. Adoption of the Additional Facility Rules . . 147
  D. Continuation of the Additional Facility . . 149
VI. The appointing authority role . . 151
VII. The investment law publishing activities . . 153

8. Aspects of the Early Cases . . 157
I. Registration of requests to institute proceedings . . 158
II. The constitution of commissions and tribunals . . 161
III. Approaches to jurisdiction . . 165
IV. Provisional measures . . 173
V. Applicable law . . 178
VI. Annulment decisions of the 1980s . . 185
VII. Enforcement of awards . . 191

9. ICSID from 1989 to 1999 . . 195
I. The growing network of investment treaties . . 198
II. Institutional developments . . 204
  A. Ratificaions of the Convention . . 204
  B. The Secretariat . . 205
  C. The Panels of Conciliators and of Arbitrators . . 207
  D. Agreements with other arbitration institutions . . 208
III. An overview of cases submitted to ICSID between 1989 and 1999 . . 208
IV. The first Additional Facility Proceedings . . 213
V. Some leading BIT cases of the 1990s . . 224
  A. Fedax v Venezuela . . 225
  B. Vivendi v Argentina. . . 227
  C. Maffezini v Spain . . 229
  D. Wena v Egypt . . 231

10. ICSID from 2000 to 2010 . . 235
I. Institutional developments . . 241
  A. Ratifications of the Convention . . 241
  B. The Secretariat . . 241
  C. The Panels of Conciliators and of Arbitrators . . 245
II. The 2003 amendments of the Regulations and Rules . . 246
III. The 2006 amendments of the Regulations and Rules . . 249
IV. An overview of the expanded caseload . . 257

11. Aspects of the New Cases . . 261
I. Registration of requests to institute proceedings . . 261
II. The constitution of commissions and tribunals . . 264
  A. Patterns in the appointment of conciliators and arbitrators . . 264
  B. Resignations and disqualification piposals . . 266
  C. Published decisions on disqualification proposals . . 268
  D. Disqualification criteria . . 273
III. Approaches to jurisdiction . . 275
  A. Dasions regarding the meaning of "investment" . . 276
  B. Decisions differentiating between contract claims and treaty claims . . 285
  C. Decisions on the role of MFN clauses in establishing jurisdiction . . 293
IV. Provisional measures . . 296
  A. Decisions on the binding effect of provisional measures . . 297
  B. Decisions on requests for security for costs . . 301
V. Applicable Law . . 303
VI. Annulment decisions . . 307
VII. Enforcement of awards . . 314

12. Conclusion . . 321

Appendices 
I. Working Paper in the Form of a Draft Convention for the Resolution of Disputes between States and Nationals of Other States, June 5, 1962 . . 331
II. Preliminary Draft of a Convention on the Settlement of Investment Disputes between States and Nationals of Other States, October 15, 1963 . . 348
III. Draft Convention on the Settlement of Investment Disputes between States and Nationals of Other States (First Draft), September 11, 1964 . . 372
IV. Convention on the Settlement of Investment Disputes between States and Nationals of Other States and Accompanying Report of the Executive Directors, March 18, 1965 . . 394

Select Bibliography . . 419
Index . . 425