ENFORCEMENT OF ARBITRAL AWARDS: ISSUES AND CHALLENGES
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Date
2016-08-21
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FACULTY OF LAW, AL-HIKMAH UNVERSITY
Abstract
The importance that the international community attaches to this sector of international economic relations has led to the promulgation of the international convention for Settlement of Investment Disputes (ICSID Convention) under the aegis of the World bank, to cover the settlement of investment disputes between investors and host states. The ICSID Convention, in turn, established the International Centre for the Settlement of Investment Dispute (the Centre), which implements the provisions of the ICSID Convention. One area of dispute resolution mechanism under the ICSID Convention that attracts academic comment is the enforcement of ICSID awards. the question is often raised whether the provisions of the Convention promote effective enforcement of ICSID awards. the purpose of this article is to consider some of the tactics that disappointed parties may employ in national courts in attempts to delay or to avoid compliance with ICSID awards. therefore, this article will be analytical and evaluative; that is the provisions of the Convention are critical analysed to show its area of challenges. it is therefore concluding that the challenges of ICSID awards potentially may be based upon the provisions of the ICSID Convention itself and from outside the ICSID convention.
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AL-HIKMAH UNVERSITY LAW JOURNAL, VOL 1