- External Seminars
New ICSID Rules: Views from Asia and the Middle East
- March 7, 2023
- Al Tamimi & Company DIFC Offices
After years of consultation, the latest amendments to the ICSID arbitration rules came into effect on July 1, 2022. This marks the fourth time that the ICSID arbitration rules have been updated and are the most extensive amendments to date. Drawing on lessons learned from hundreds of ICSID cases, these amendments seek to modernize, simplify, and streamline the rules. They also address many of the criticisms and implement the reforms to investor-state dispute resolution that have preoccupied UNCITRAL Working Group III for years.
In this session, our panel of experts discussed the key amendments to the ICSID arbitration rules and shared their perspectives on what these amendments mean for States and users of investor-state dispute resolution in Asia and the Middle East. Will this encourage confidence in what has traditionally been viewed as an Anglo-centric institution and, more broadly, the use of investor-state dispute resolution? What are the unique sensitivities and concerns of States and users of investor-state dispute resolution in Asia and the Middle East? And do these amendments truly address the criticisms levied against investor-state dispute resolution?
Lars’ practice is focused on commercial and investment arbitration. He has particular expertise in contentious proceedings involving post-M&A, commercial, manufacturing, construction, and distribution matters, in areas such as life sciences, automotive, and energy. Lars also deals with cases involving governments, and has advised foreign investors and sovereign states on issues of foreign direct investment and public international law, including related negotiations and investor-state disputes. He has been involved in more than 50 international arbitrations as counsel and arbitrator under the arbitration rules of institutions such as the ICC, DIS, SAC, NAI, ICDR, KCAB, JCAA, SIAC, and ICSID, as well as under the UNCITRAL Rules.