A newly published issue of the ICSID Review – Foreign Investment Law Journal brings together an outstanding collection of contributions from renowned and up-and-coming scholars and practitioners. The latest issue features articles, notes, case comments, book reviews and lectures—and introduces a new section of the journal, called practice notes.Cover image

Here is what you will find on the pages of Volume 38, Issue 2 of the ICSID Review.


For a Universal Standard for Conflicts Disclosures 
Alexis Mourre makes the case for an objective requirement to conflict disclosure based on a pre-established list of circumstances. Read more.

Case Comments

Kimberly-Clark Dutch Holdings, BV, Kimberly-Clark SLU, and Kimberly-Clark BVBA v Venezuela 
John R Crook discusses the Tribunal’s award in the case of Kimberly-Clark Dutch Holdings, BV, Kimberly-Clark SLU, and Kimberly-Clark BVBA v Bolivarian Republic of  Venezuela, which examined whether Venezuela gave the consent necessary to confer jurisdictional authority upon a tribunal constituted under ICSID’s Additional Facility Rules. Read more.

Glencore v Colombia: A Tale of Legally Coerced Evidence 
Andrés Mazuera focuses on the admissibility of legally coerced evidence in investment arbitration, with reference to the Tribunal's decision in Glencore International A.G. and C.I. Prodeco S.A. v. Republic of Colombia. Read more.

Patrick Costello v the Government of Ireland, Ireland and the Attorney General: Obstacles to the Ratification of CETA in the Irish Constitutional Context 
Patrick Leonard analyzes the Irish Supreme Court's judgment in Costello v the Government of Ireland, which prevented the Irish government from ratifying the EU–Canada Comprehensive Economic and Trade Agreement under the Constitution of Ireland. Read more.

‘Maduro Board’ of the Central Bank of  Venezuela v ‘Guaidó Board’ of the Central Bank of  Venezuela 
Laura Rees-Evans and Rhys Carvosso provide background on an unanimous judgment of the United Kingdom Supreme Court that addressed the Venezuelan presidential dispute. Read more.

Practice Notes

Document Production: The Armesto Schedule 
Mélanie Riofrio Piché explains why the Armesto schedule is a practical tool to make document production more efficient. Read more.

Using PowerPoint in ISDS Hearings 
Mallory Silberman unlocks the secrets to designing an effective PowerPoint presentation for investment arbitration hearings. Read more.


The Meaning of Silence in Investment Treaties 
Simon Batifort and Andrew Larkin argue that silence in investment treaties on numerous issues that routinely arise in practice has played a critical role in the development of international investment law. Read more.

Justifying the Protection of Legitimate Expectations in International Investment Law: Legal Certainty and Arbitrary Conduct 
Caroline Henckels posits that legal certainty provides the most compelling justification for recognizing legitimate expectations in international investment law. Read more.

Reclaiming Sovereignty over Natural Wealth and Resources in Tanzania: Legal and Regulatory Implications on Investments 
Saudin J Mwakaje and Taragwa M Nyang’anyi examine the legal implications of new laws in Tanzania on the regulation of investments in light of the country’s national investment code and its international investment agreements. Read more.

Recent Trends in Investment Arbitration on the Right to Regulate, Environment, Health and Corporate Social Responsibility: Too Much or Too Little? 
Crina Baltag, Riddhi Joshi, and Kabir Duggal address the recent trends in investment arbitration and international investment agreements with respect to the right of States to regulate in the public interest. Read more.

Invoking the Paris Agreement in Investor-State Arbitration 
Arman Sarvarian explains that while the Paris Agreement and substantive obligations on environmental protection remain rare in international investment agreements, this situation is likely to change as ‘green investment’ expands and high-emission investors react to intensification of host State efforts to mitigate emissions. Read more.


The Essential Qualities for an Arbitrator 
Barton Legum and Clara Motin provide a practitioner’s perspective on one of the most important, if not the most important, decision in any arbitration: the selection of the arbitrators. Read more.

The Applicability of Investment Treaties in the Context of Russia’s Aggression against Ukraine 
Tobias Ackermann and Sebastian Wuschka shed light on the possibility of seeking redress for violations of international law through investor-State arbitration in the context of Russia’s aggression against Ukraine. Read more.

The Umbrella Clause Revisited 
Zachary Douglas defends the ‘functional interpretation’ of the umbrella clause by applying the Vienna Convention on the Law of Treaties. Read more.

Book Reviews

Incomplete International Investment Agreements: Problems, Causes and Solutions 
Wolfgang Alschner reviews ‘Incomplete International Investment Agreements: Problems, Causes and Solutions’ by Tae Jung Park, a book that discusses 'missing' clauses in international investment agreements. Read more.

The Three Ages of International Commercial Arbitration 
Jeremy K Sharpe reviews 'The Three Ages of International Commercial Arbitration' by Mikaël Schinazi, which identifies three periods in commercial arbitration’s development. Read more.

Global Regulatory Standards in Environmental and Health Disputes 
Christine Sim reviews 'Global Regulatory Standards in Environmental and Health Disputes' by Caroline E Foster, which explores the role played by international courts and tribunals in the development of emerging global regulatory standards. Read more.

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