Sail We Must: Why ICSID Proceedings Should Not Lie at Anchor for Arbitrator Challenges

This Article shows that the International Centre for Settlement of Investment Disputes’ (ICSID) current rules for arbitration, which automatically suspend the arbitration proceeds, are direct contributors to the high costs and long proceedings in ICSID. The Articles also argues that failing to eliminate the automatic suspension of proceedings is simply putting off a change that will inevitably need to be made. Following complaints that investment arbitrations were too costly and too lengthy, ICSID finally began addressing the issue of arbitrator disqualifications by initiating a round of amendments in October 2016. ICSID has proposed two different remedies to this problem, which could replace the original rule: the first proposal would provide a much-needed increase in ICSID’s efficiency, but the second proposal is little more than an entrenchment of the status quo. ICSID should adopt a slightly modified version of the first proposal to continue the proceedings in the face of arbitrator challenges.