CIADI - Annual report 2015

2015

ANNUAL

REPORT

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ANNUAL

REPOR Tii | ICSIDWorld Bank headquarters, Washington, D.C., Otylia Babiak, World BankANNUAL REPORT 2015 | iii Letter of Transmittal 1 ICSID Secr etariat 2 Chapter 1: Intr oduction 5 Chapter 2: Membership 7 Chapter 3: Panels of Arbitrators and of Conciliators 15 Chapter 4: Operations of the Centr e 18 Chapter 5: Outr each 40 Chapter 6: Forty-eighth Annual Meeting of the Administrative Council 56 Chapter 7: Finance 59 Financial Statements 60 Independent Auditors’ Report 74

CONTENTSiv | ICSID

Inside the atrium of the World Bank headquarters, Washington, D.C., Otylia Babiak, World BankANNUAL REPORT 2015 | 1 September 4, 2015 Dear Mr. Chair man, I am pleased to submit the Annual Report on the operation of the International Centre for Settlement of Investment Disputes to the Administrative Council for its approval. This Annual Report covers the fiscal year from July 1, 2014 to June 30, 2015. The Report includes the audited financial statements of the Centre, presented pursuant to Administrative and Financial Regulation 19. Yours sincer ely, Meg Kinnear Secr etary-General Dr. Jim Yong Kim Chairman Administrative Council International Centre for Settlement of Investment Disputes

INTERNATIONAL CENTRE FOR SETTLEMENT OF

INVESTMENT DISPUTES2 | ICSID

Meg Kinnear, Secretary-General

LEGAL STAFF

Aurélia Antonietti, Team Leader/Legal Counsel

Dr. Jim Yong Kim Chairman Administrative Council International Centre for Settlement of Investment Disputes

INTERNATIONAL CENTRE FOR SETTLEMENT OF

INVESTMENT DISPUTES2 | ICSID

Meg Kinnear, Secretary-General

LEGAL STAFF

Aurélia Antonietti, Team Leader/Legal Counsel Gonzalo Flores, Team Leader/Legal Counsel Milanka Kostadinova, Team Leader/Legal Counsel Martina Polasek, Team Leader/Legal Counsel Daniela Argüello, Legal Counsel—Institutional Matters Giuliana Canè, Legal Counsel Mercedes Cordido-Freytes de Kurowski, Legal Counsel Aïssatou Diop, Legal Counsel Geraldine Fischer, Legal Counsel Anneliese Fleckenstein, Legal Counsel Benjamin Garel, Legal Counsel Lindsay Gastrell, Legal Counsel Paul-Jean Le Cannu, Legal Counsel Alicia Martín Blanco, Legal Counsel Marco Tulio Montañés-Rumayor, Legal Counsel Frauke Nitschke, Legal Counsel Natalí Sequeira, Legal Counsel Luisa Torres, Legal Counsel Mairée Uran Bidegain, Legal Counsel Pierre Amariglio, Legal Associate Otylia Babiak, Legal Consultant—Institutional Matters Francisco Grob, Legal Associate Kendra Magraw, Legal Associate Peik Mäkelä, Legal Associate Celeste Mowatt, Legal Associate Marisa Planells-Valero, Legal Associate Donna Robinson, Legal Consultant—Institutional Matters

FINANCIAL AND GENERAL ADMINISTRATION STAFF

Javier Castro, Team Leader/Sr. Program Officer Zelalem T. Dagnaw, Financial Officer Lamiss Al-Tashi, Hearings & Events Organizer Walter Meza-Cuadra, Financial Analyst Azeb Debebe Mengistu, Sr. Financial Assistant Patricia V. Romero, Sr. Information Technology Assistant Sherri Akanni, Program Assistant Diana Magalona, Hearings & Events Organizer Assistant Jennifer Ann Melendez, Receptionist Dante Herrera, Records Assistant

SECRETARIAT OF THE INTERNATIONAL CENTRE FOR

SETTLEMENT OF INVESTMENT DISPUTES

Patricia V. Romero, Sr. Information Technology Assistant Sherri Akanni, Program Assistant Diana Magalona, Hearings & Events Organizer Assistant Jennifer Ann Melendez, Receptionist Dante Herrera, Records Assistant

SECRETARIAT OF THE INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES JUNE 30, 2015ANNUAL REPORT 2015 | 3

PARALEGAL, ADMINISTRATIVE AND CLIENT SUPPORT STAFF

Olutosin O. Akinyode, Paralegal Joy Berry, Paralegal Arkiatou Boissaye, Paralegal Colleen Ferguson, Paralegal Ivania Fernández, Paralegal Natalie O’Connor, Paralegal Diego Soto, Paralegal Angela Ting, Paralegal Ivanna A. Ursino, Paralegal Jessica Velasco Villegas, Paralegal Alix Ahimon, Program Assistant Cindy Ayento, Administrative Assistant to Secretary-General Claudio Batista, Program Assistant Paula Carazo, Program Assistant Cinthya Ibáñez, Program Assistant Lanny Isimbi, Program Assistant Miriam A. Peguero Medrano, Program Assistant Laura Amelia Pettinelli, Program Assistant Members of the ICSID Secretariat, Washington D.C., May 12, 2015, Adam Claypool Ryder, World Bank4 | ICSID Member State flags inside World Bank headquarters, Washington, D.C., Otylia Babiak, World BankANNUAL REPORT 2015 | 5 On March 18, 1965, the ICSID Convention was opened for signature by States. Tunisia was the first State to sign the Convention in May 1965, followed by the United Kingdom. The first State to ratify the Convention was Nigeria on August 23, 1965. By September 14, 1966, the necessary 20 ratifications had been achieved, and the Convention came into force on October 14, 1966. As a result, fiscal year 2015 marked the ICSID Convention’s 50th anniversary and has been an opportunity to review

20 ratifications had been achieved, and the Convention came into force on October 14, 1966. As a result, fiscal year 2015 marked the ICSID Convention’s 50th anniversary and has been an opportunity to review and celebrate the accomplishments of ICSID’s first 50 years. Today ICSID is the premier international investment arbitration facility in the world, with the ICSID Convention ratified by 151 members and signed by a further eight States. The Centre’s activities in fiscal year 2015 are presented in detail in this report. A number of “first time” events took place at the Centre this year, including: • The registration of more than 50 cases in a fiscal year, with 52 cases registered by June 30, 2015; • The registration of ICSID’s 500th case overall in February 2015, with 525 cases registered by the fiscal year-end; • The greatest total number of cases concluded in a single year, with 53 cases finally resolved over the year; • The greatest number of cases administered over the year, with 243 cases having been addressed in the past 12 months; • The largest total number of arbitrators and conciliators on the ICSID Panels, with 77 new designations received from 19 Member States; and • The appointment of the first ICSID Scholar-in-Residence. Despite the increasing caseload, the Centre managed to maintain an average time to register new cases at 21 days. This reflects the implementation of ICSID service standards which are designed to improve the timeliness of the dispute resolution process.

CHAPTER 1

INTRODUCTION

Meg Kinnear Secretary-General6 | ICSID In addition to case work, the Secretariat engaged in numerous outreach efforts, conducting over 90 presentations in countries such as Austria, Barbados, China, the Czech Republic, India, Mauritius, Mexico, Malaysia, Paraguay, Tanzania, Trinidad and Tobago, and Vietnam, to name a few. ICSID has focused on training, knowledge management and development of expertise in international

presentations in countries such as Austria, Barbados, China, the Czech Republic, India, Mauritius, Mexico, Malaysia, Paraguay, Tanzania, Trinidad and Tobago, and Vietnam, to name a few. ICSID has focused on training, knowledge management and development of expertise in international investment arbitration. An important contribution to this effort was the launch of our new website in December 2014. The philosophy behind this website was that it should allow parties, government officials and the public to understand every aspect of the ICSID process. This goal has been accomplished. The new website contains much enhanced search capacity, a number of new databases, an online subscription feature, curricula vitae of arbitrators and conciliators, descriptions of every step in the process, and instructional videos featuring ICSID arbitrators and counsel. It is a comprehensive research tool that will greatly assist facility users. At the same time, the ICSID Review—Foreign Investment Law Journal experienced increased readership since expanding to three issues per year. The 30th anniversary of the journal will be commemorated next year with a series of special focus issues. The Centre will also publish a 50th anniversary text looking at the impact of the 50 leading cases in investment arbitration. Another aspect of ICSID’s outreach has been its contribution to the information available for public discussion about the scope and operation of investment dispute resolution. ICSID has a unique perspective in this area, seeing cases progress on a day-to-day basis. We have shared our experience in the hopes that on-going discussion about investment law and arbitration will take place on a well-informed basis and will assist States that are revising their investment treaties or negotiating new treaties. In particular, we have contributed to the ongoing work on investment law and dispute settlement of other international organizations such as UNCITRAL, UNCTAD, the OECD and the E15 process of the World Economic Forum. In the next years ICSID will continue to support its Member States as they address international investment disciplines. Finally, I wish to acknowledge the work of each staff member of the ICSID Secretariat and to thank

OECD and the E15 process of the World Economic Forum. In the next years ICSID will continue to support its Member States as they address international investment disciplines. Finally, I wish to acknowledge the work of each staff member of the ICSID Secretariat and to thank them for their enthusiasm, determination, and efforts to ensure ICSID remains the leader in this field. Similarly, Member States and facility users have contributed to the Centre’s success through continued dedication and support, and this is deeply appreciated. I am also most grateful for the confidence of Member States in allowing me the privilege of leading the Centre at this important moment. The next 50 years at ICSID are poised to bring further change, expansion and innovation, and we look forward to being a part of this vital work.ANNUAL REPORT 2015 | 7 ICSID is an intergovernmental organization established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States. ICSID is also the only global arbitration institution offering a specialized forum for international investment dispute resolution. Consistent with its mandate, ICSID provides a wide range of modern arbitration and conciliation services and platforms for information and collaboration in the field of international investment law and arbitration. State support for the ICSID Convention is broad and diverse. As of June 30, 2015, there were 159 signatory States to the ICSID Convention. Of these, 151 States were ICSID Contracting States by virtue of their having deposited instruments of ratification, acceptance or approval of the ICSID Convention with the World Bank, which is the depositary of the ICSID Convention. During FY2015, the Republic of San Marino joined ICSID by depositing its instrument of ratification of the Convention on April 18, 2015. The Convention entered into force for San Marino on May 18, 2015.

CHAPTER 2

MEMBERSHIP Meg Kinnear, ICSID Secretary-General, Mr. Dario Galassi, Director of the Department of Foreign Affairs of San

of the Convention on April 18, 2015. The Convention entered into force for San Marino on May 18, 2015.

CHAPTER 2

MEMBERSHIP Meg Kinnear, ICSID Secretary-General, Mr. Dario Galassi, Director of the Department of Foreign Affairs of San Marino, and Milanka Kostadinova, ICSID Counsel, at ICSID’s Headquarters, Washington, D.C., April 18, 2015, Otylia Babiak, World Bank8 | ICSID

IBRD 39525

JUNE 2015ANNUAL REPORT 2015 | 9

The 159 States listed below have signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States on the dates indicated. The names of the 151 States that have deposited their instruments of ratification are in bold, and the dates of such deposit and of the attainment of the status of Contracting State by the entry into force of the Convention for each of them are also indicated. Deposit of Entry into Force State Signature Ratification of Convention Afghanistan Sep. 30, 1966 June 25, 1968 July 25, 1968 Albania Oct. 15, 1991 Oct. 15, 1991 Nov. 14, 1991 Algeria Apr. 17, 1995 Feb. 21, 1996 Mar. 22, 1996 Argentina May 21, 1991 Oct. 19, 1994 Nov. 18, 1994 Armenia Sep. 16, 1992 Sep. 16, 1992 Oct. 16, 1992 Australia Mar. 24, 1975 May 2, 1991 June 1, 1991 Austria May 17, 1966 May 25, 1971 June 24, 1971

Azerbaijan Sep. 18, 1992 Sep. 18, 1992 Oct. 18, 1992 Bahamas, The Oct. 19, 1995 Oct. 19, 1995 Nov. 18, 1995 Bahrain Sep. 22, 1995 Feb. 14, 1996 Mar. 15, 1996 Bangladesh Nov. 20, 1979 Mar. 27, 1980 Apr. 26, 1980 Barbados May 13, 1981 Nov. 1, 1983 Dec. 1, 1983 Belarus July 10, 1992 July 10, 1992 Aug. 9, 1992 Belgium Dec. 15, 1965 Aug. 27, 1970 Sep. 26, 1970 Belize Dec. 19, 1986 Benin Sep. 10, 1965 Sep. 6, 1966 Oct. 14, 1966 Bosnia and Herzegovina Apr. 25, 1997 May 14, 1997 June 13, 1997 Botswana Jan. 15, 1970 Jan. 15, 1970 Feb. 14, 1970 Brunei Darussalam Sep. 16, 2002 Sep. 16, 2002 Oct. 16, 2002 Bulgaria Mar. 21, 2000 Apr. 13, 2001 May 13, 2001 Burkina Faso Sep. 16, 1965 Aug. 29, 1966 Oct. 14, 1966 Burundi Feb. 17, 1967 Nov. 5, 1969 Dec. 5, 1969 Cabo Verde Dec. 20, 2010 Dec. 27, 2010 Jan. 26, 2011

Cambodia Nov. 5, 1993 Dec. 20, 2004 Jan. 19, 2005 Cameroon Sep. 23, 1965 Jan. 3, 1967 Feb. 2, 1967 Canada Dec. 15, 2006 Nov. 1, 2013 Dec. 1, 2013 LIST OF CONTRACTING STATES AND OTHER SIGNATORIES OF THE CONVENTION AS OF JUNE 30, 201510 | ICSID Deposit of Entry into Force State Signature Ratification of Convention Central African Republic Aug. 26, 1965 Feb. 23, 1966 Oct. 14, 1966 Chad May 12, 1966 Aug. 29, 1966 Oct. 14, 1966 Chile Jan. 25, 1991 Sep. 24, 1991 Oct. 24, 1991 China Feb. 9, 1990 Jan. 7, 1993 Feb. 6, 1993 Colombia May 18, 1993 July 15, 1997 Aug. 14, 1997 Comoros Sep. 26, 1978 Nov. 7, 1978 Dec. 7, 1978 Congo, Democratic Rep. of Oct. 29, 1968 Apr. 29, 1970 May 29, 1970 Congo, Rep. of Dec. 27, 1965 June 23, 1966 Oct. 14, 1966 Costa Rica Sep. 29, 1981 Apr. 27, 1993 May 27, 1993 Côte d’Ivoire June 30, 1965 Feb. 16, 1966 Oct. 14, 1966 Croatia June 16, 1997 Sep. 22, 1998 Oct. 22, 1998

Cyprus Mar. 9, 1966 Nov. 25, 1966 Dec. 25, 1966 Czech Republic Mar. 23, 1993 Mar. 23, 1993 Apr. 22, 1993 Denmark Oct. 11, 1965 Apr. 24, 1968 May 24, 1968 Dominican Republic Mar. 20, 2000 Egypt, Arab Rep. of Feb. 11, 1972 May 3, 1972 June 2, 1972 El Salvador June 9, 1982 Mar. 6, 1984 Apr. 5, 1984 Estonia June 23, 1992 June 23, 1992 July 23, 1992 Ethiopia Sep. 21, 1965 Fiji July 1, 1977 Aug. 11, 1977 Sep. 10, 1977 Finland July 14, 1967 Jan. 9, 1969 Feb. 8, 1969 France Dec. 22, 1965 Aug. 21, 1967 Sep. 20, 1967 Gabon Sep. 21, 1965 Apr. 4, 1966 Oct. 14, 1966 Gambia, The Oct. 1, 1974 Dec. 27, 1974 Jan. 26, 1975 Georgia Aug. 7, 1992 Aug. 7, 1992 Sep. 6, 1992 Germany Jan. 27, 1966 Apr. 18, 1969 May 18, 1969 Ghana Nov. 26, 1965 July 13, 1966 Oct. 14, 1966 Greece Mar. 16, 1966 Apr. 21, 1969 May 21, 1969

Grenada May 24, 1991 May 24, 1991 June 23, 1991 Guatemala Nov. 9, 1995 Jan. 21, 2003 Feb. 20, 2003 Guinea Aug. 27, 1968 Nov. 4, 1968 Dec. 4, 1968 Guinea-Bissau Sep. 4, 1991 Guyana July 3, 1969 July 11, 1969 Aug. 10, 1969 Haiti Jan. 30, 1985 Oct. 27, 2009 Nov. 26, 2009ANNUAL REPORT 2015 | 11 Honduras May 28, 1986 Feb. 14, 1989 Mar. 16, 1989 Hungary Oct. 1, 1986 Feb. 4, 1987 Mar. 6, 1987 Iceland July 25, 1966 July 25, 1966 Oct. 14, 1966 Indonesia Feb. 16, 1968 Sep. 28, 1968 Oct. 28, 1968 Ireland Aug. 30, 1966 Apr. 7, 1981 May 7, 1981 Israel June 16, 1980 June 22, 1983 July 22, 1983 Italy Nov. 18, 1965 Mar. 29, 1971 Apr. 28, 1971 Jamaica June 23, 1965 Sep. 9, 1966 Oct. 14, 1966 Japan Sep. 23, 1965 Aug. 17, 1967 Sep. 16, 1967 Jordan July 14, 1972 Oct. 30, 1972 Nov. 29, 1972

Kazakhstan July 23, 1992 Sep. 21, 2000 Oct. 21, 2000 Kenya May 24, 1966 Jan. 3, 1967 Feb. 2, 1967 Korea, Rep. of Apr. 18, 1966 Feb. 21, 1967 Mar. 23, 1967 Kosovo, Rep. of June 29, 2009 June 29, 2009 July 29, 2009 Kuwait Feb. 9, 1978 Feb. 2, 1979 Mar. 4, 1979 Kyrgyz Republic June 9, 1995 Latvia Aug. 8, 1997 Aug. 8, 1997 Sep. 7, 1997 Lebanon Mar. 26, 2003 Mar. 26, 2003 Apr. 25, 2003 Lesotho Sep. 19, 1968 July 8, 1969 Aug. 7, 1969 Liberia Sep. 3, 1965 June 16, 1970 July 16, 1970 Lithuania July 6, 1992 July 6, 1992 Aug. 5, 1992 Luxembourg Sep. 28, 1965 July 30, 1970 Aug. 29, 1970 Macedonia, former Yugoslav Rep. of Sep. 16, 1998 Oct. 27, 1998 Nov. 26, 1998 Madagascar June 1, 1966 Sep. 6, 1966 Oct. 14, 1966 Malawi June 9, 1966 Aug. 23, 1966 Oct. 14, 1966 Malaysia Oct. 22, 1965 Aug. 8, 1966 Oct. 14, 1966

Mali Apr. 9, 1976 Jan. 3, 1978 Feb. 2, 1978 Malta Apr. 24, 2002 Nov. 3, 2003 Dec. 3, 2003 Mauritania July 30, 1965 Jan. 11, 1966 Oct. 14, 1966 Mauritius June 2, 1969 June 2, 1969 July 2, 1969 Micronesia, Federated States of June 24, 1993 June 24, 1993 July 24, 1993 Moldova Aug. 12, 1992 May 5, 2011 June 4, 2011 Mongolia June 14, 1991 June 14, 1991 July 14, 1991 Montenegro July 19, 2012 April 10, 2013 May 10, 2013 Deposit of Entry into Force State Signature Ratification of Convention12 | ICSID Morocco Oct. 11, 1965 May 11, 1967 June 10, 1967 Mozambique Apr. 4, 1995 June 7, 1995 July 7, 1995 Namibia Oct. 26, 1998 Nepal Sep. 28, 1965 Jan. 7, 1969 Feb. 6, 1969 Netherlands May 25, 1966 Sep. 14, 1966 Oct. 14, 1966 New Zealand Sep. 2, 1970 Apr. 2, 1980 May 2, 1980 Nicaragua Feb. 4, 1994 Mar. 20, 1995 Apr. 19, 1995 Niger Aug. 23, 1965 Nov. 14, 1966 Dec. 14, 1966

Nigeria July 13, 1965 Aug. 23, 1965 Oct. 14, 1966 Norway June 24, 1966 Aug. 16, 1967 Sep. 15, 1967 Oman May 5, 1995 July 24, 1995 Aug. 23, 1995 Pakistan July 6, 1965 Sep. 15, 1966 Oct. 15, 1966 Panama Nov. 22, 1995 Apr. 8, 1996 May 8, 1996 Papua New Guinea Oct. 20, 1978 Oct. 20, 1978 Nov. 19, 1978 Paraguay July 27, 1981 Jan. 7, 1983 Feb. 6, 1983 Peru Sep. 4, 1991 Aug. 9, 1993 Sep. 8, 1993 Philippines Sep. 26, 1978 Nov. 17, 1978 Dec. 17, 1978 Portugal Aug. 4, 1983 July 2, 1984 Aug. 1, 1984 Qatar Sep. 30, 2010 Dec. 21, 2010 Jan. 20, 2011 Romania Sep. 6, 1974 Sep. 12, 1975 Oct. 12, 1975 Russian Federation June 16, 1992 Rwanda Apr. 21, 1978 Oct. 15, 1979 Nov. 14, 1979 Samoa Feb. 3, 1978 Apr. 25, 1978 May 25, 1978 San Marino Apr. 11, 2014 Apr. 18, 2015 May 18, 2015 Sao Tome and Principe Oct. 1, 1999 May 20, 2013 June 19, 2013

Saudi Arabia Sep. 28, 1979 May 8, 1980 June 7, 1980 Senegal Sep. 26, 1966 Apr. 21, 1967 May 21, 1967 Serbia May 9, 2007 May 9, 2007 June 8, 2007 Seychelles Feb. 16, 1978 Mar. 20, 1978 Apr. 19, 1978 Sierra Leone Sep. 27, 1965 Aug. 2, 1966 Oct. 14, 1966 Singapore Feb. 2, 1968 Oct. 14, 1968 Nov. 13, 1968 Slovak Republic Sep. 27, 1993 May 27, 1994 June 26, 1994 Slovenia Mar. 7, 1994 Mar. 7, 1994 Apr. 6, 1994 Deposit of Entry into Force State Signature Ratification of ConventionANNUAL REPORT 2015 | 13 Solomon Islands Nov. 12, 1979 Sep. 8, 1981 Oct. 8, 1981 Somalia Sep. 27, 1965 Feb. 29, 1968 Mar. 30, 1968 South Sudan Apr. 18, 2012 Apr. 18, 2012 May 18, 2012 Spain Mar. 21, 1994 Aug. 18, 1994 Sept. 17, 1994 Sri Lanka Aug. 30, 1967 Oct. 12, 1967 Nov. 11, 1967 St. Kitts & Nevis Oct. 14, 1994 Aug. 4, 1995 Sep. 3, 1995 St. Lucia June 4, 1984 June 4, 1984 July 4, 1984

St. Vincent and the Grenadines Aug. 7, 2001 Dec. 16, 2002 Jan. 15, 2003 Sudan Mar. 15, 1967 Apr. 9, 1973 May 9, 1973 Swaziland Nov. 3, 1970 June 14, 1971 July 14, 1971 Sweden Sep. 25, 1965 Dec. 29, 1966 Jan. 28, 1967 Switzerland Sep. 22, 1967 May 15, 1968 June 14, 1968 Syria May 25, 2005 Jan. 25, 2006 Feb. 24, 2006 Tanzania Jan. 10, 1992 May 18, 1992 June 17, 1992 Thailand Dec. 6, 1985 Timor-Leste July 23, 2002 July 23, 2002 Aug. 22, 2002 Togo Jan. 24, 1966 Aug. 11, 1967 Sep. 10, 1967 Tonga May 1, 1989 Mar. 21, 1990 Apr. 20, 1990 Trinidad and Tobago Oct. 5, 1966 Jan. 3, 1967 Feb. 2, 1967 Tunisia May 5, 1965 June 22, 1966 Oct. 14, 1966 Turkey June 24, 1987 Mar. 3, 1989 Apr. 2, 1989 Turkmenistan Sep. 26, 1992 Sep. 26, 1992 Oct. 26, 1992 Uganda June 7, 1966 June 7, 1966 Oct. 14, 1966

Ukraine Apr. 3, 1998 June 7, 2000 July 7, 2000 United Arab Emirates Dec. 23, 1981 Dec. 23, 1981 Jan. 22, 1982 United Kingdom of Great Britain and Northern Ireland May 26, 1965 Dec. 19, 1966 Jan. 18, 1967 United States of America Aug. 27, 1965 June 10, 1966 Oct. 14, 1966 Uruguay May 28, 1992 Aug. 9, 2000 Sep. 8, 2000 Uzbekistan Mar. 17, 1994 July 26, 1995 Aug. 25, 1995 Yemen, Republic of Oct. 28, 1997 Oct. 21, 2004 Nov. 20, 2004 Zambia June 17, 1970 June 17, 1970 July 17, 1970 Zimbabwe Mar. 25, 1991 May 20, 1994 June 19, 1994 Deposit of Entry into Force State Signature Ratification of Convention14 | ICSID Elba Gutierrez, Argentina Irradiacion Pedro Nikken, Gabrielle Kaufmann-Kohler, and Jeswald W. Salacuse, Tribunal members arriving for a hearing, Washington, D.C., August 6, 2014, Benjamin Garel, World BankANNUAL REPORT 2015 | 15 The ICSID Convention requires the Centre to maintain a Panel of Arbitrators and a Panel of Conciliators. According to Article 13 of the Convention, each Contracting State is entitled to designate up to four persons to each Panel. The designees may be nationals or non-nationals of the designating State and are nominated to the Panels for a renewable term of six years. In addition, up to ten persons may be designated to each Panel by the Chairman of the ICSID Administrative Council. The complete list of members of the Panels of Arbitrators and of Conciliators is available on the ICSID website.

designating State and are nominated to the Panels for a renewable term of six years. In addition, up to ten persons may be designated to each Panel by the Chairman of the ICSID Administrative Council. The complete list of members of the Panels of Arbitrators and of Conciliators is available on the ICSID website. The Panels are an important component of the ICSID system of dispute settlement. When the Chairman of the Administrative Council is called upon to appoint arbitrators, conciliators or ad hoc Committee members under Articles 30, 38 or 52 of the ICSID Convention, these appointees are drawn from the Panels. With an increasing ICSID caseload, it has become ever more important for States to make designations to the ICSID Panels. To this end, the Centre continues to encourage States to name qualified candidates where nominations have expired or the Panels are otherwise incomplete. During FY2015, 19 ICSID Contracting States made designations to the ICSID Panels: Austria, Belgium, Cyprus, El Salvador, Gabon, Ghana, Iceland, Japan, Korea, Lebanon, Malaysia, Oman, Paraguay, Saint Lucia, Switzerland, Timor-Leste, Tunisia, Ukraine, and Uzbekistan. In all, 77 persons were designated or re-designated to the Panels. At the end of FY2015, there were 610 individuals on the ICSID Panels of Arbitrators and of Conciliators. The names of designees to the ICSID Panels made in FY2015 are provided on the following page.

CHAPTER 3

PANELS OF ARBITRATORS AND

OF CONCILIATORS16 | ICSID AUSTRIA Panels of Arbitrators and of Conciliators Designations effective December 16, 2014: August Reinisch, Christoph Schreuer

Panel of Arbitrators Designations effective December 16, 2014: Alexander Marquardt, Werner Melis Panel of Conciliators Designations effective December 16, 2014: Markus Burgstaller, Dr. J. Hanns Pichler

BELGIUM

Panel of Arbitrators Designation effective January 28, 2015: Gaëtan Verhoosel Panel of Conciliators Designation effective January 28, 2015: Joost Pauwelyn CYPRUS Panels of Arbitrators and of Conciliators Designations effective July 1, 2014: Andreas J. Jacovides, Christos Mavrellis, Andreas Michaelides, Polys Polyviou

EL SALVADOR

Panel of Arbitrators Designations effective February 4, 2015: Luis A. Parada, Mario Enrique Sáenz, Humberto Sáenz Marinero GABON Panel of Arbitrators Designations effective September 4, 2014: Jean Paul Angoennah Essyngone, Marie-Madeleine Mborantsuo, Etienne Nsie, Guy Rossatanga-Rignault Panel of Conciliators Designations effective September 4, 2014: Norbert Issialh, Honoré Moundounga, Modeste Obiang Ndong, Guillaume Pambou Tchivounda GHANA Panel of Arbitrators Designation effective September 2, 2014: Emmanuel Opoku Awuku ICELAND Panels of Arbitrators and of Conciliators Designations effective January 5, 2015: Gudmundur Eiriksson, Thórdís Ingadóttir, Finnur Magnússon, Björg Thorarensen JAPAN Panel of Arbitrators Designations effective December 2, 2014: Hiroshi Fukuda, Kazunori Ishiguro, Hiroshi Oda, Isomi Suzuki Panel of Conciliators Designations effective December 2, 2014:

JAPAN Panel of Arbitrators Designations effective December 2, 2014: Hiroshi Fukuda, Kazunori Ishiguro, Hiroshi Oda, Isomi Suzuki Panel of Conciliators Designations effective December 2, 2014: Masato Dogauchi, Noboru Kashiwagi, Takatoshi Kato, Yoshihisa Nomi

KOREA, REPUBLIC OF

Panel of Arbitrators Designations effective May 19, 2015: Kap-You (Kevin) Kim, Hi-Taek Shin, Byung Chol Yoon Panel of Conciliators Designations effective May 19, 2015: Kyu Sang Chung, Sung Kyu Lee, Chang Seok Oh, Woong-Soon SongANNUAL REPORT 2015 | 17 LEBANON Panels of Arbitrators and of Conciliators Designation effective February 5, 2015: Raëd Mounir Fathallah MALAYSIA Panels of Arbitrators and of Conciliators Designations effective December 17, 2014: Cecil W. M. Abraham, Azmel Haji Maamor, Azmi Mohd Ali, Steve Shim Lip Kiong OMAN Panels of Arbitrators and of Conciliators Designations effective June 30, 2014: Sara Mohammed Reza Al Abduwani, Faisal Saud Al Nabhani

PARAGUAY

Panel of Arbitrators Designation effective September 8, 2014: José Antonio Moreno Rodríguez SAINT LUCIA Panels of Arbitrators and of Conciliators Designations effective May 7, 2015: Franco Ferrari, Jonathan J. Gass, Dominique Hascher, D. Brian King

SWITZERLAND

Panel of Arbitrators Designations effective February 11, 2015: Andreas Bucher, Thomas Cottier, Gabrielle Kaufmann-Kohler, Paolo Michele Patocchi Panel of Conciliators Designations effective February 11, 2015:

SWITZERLAND

Panel of Arbitrators Designations effective February 11, 2015: Andreas Bucher, Thomas Cottier, Gabrielle Kaufmann-Kohler, Paolo Michele Patocchi Panel of Conciliators Designations effective February 11, 2015: Marino Baldi, Laurence Boisson De Chazournes, Pierre-Yves Tschanz, Andreas Ziegler

TIMOR-LESTE

Panel of Conciliators Designation effective May 17, 2015: Timothy J. Feighery

TUNISIA

Panel of Arbitrators Designations effective January 2, 2015: Ghazi Gherairi, Donia Hedda Ellouze, Mohamed Fadhel Mahfoudh, Taoufik Ouanes Panel of Conciliators Designations effective January 2, 2015: Abdessatar Ben Moussa, Sami Bostanji, Ferhat Horchani, Mohamed Sayari UKRAINE Panels of Arbitrators and of Conciliators Designations effective February 5, 2015: German Galuschenko, Vladimir G. Krokhmal Panel of Arbitrators Designations effective February 5, 2015: Tatyana Slipachuk, Sergei Voitovich

UZBEKISTAN

Panel of Arbitrators Designation effective August 27, 2014: Carolyn B. Lamm18 | ICSID SUMMARY OF ICSID OPERATIONS ICSID is an intergovernmental organization established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention). Its primary purpose is to provide facilities and services to support resolution of international investment disputes. It administers cases under the ICSID Convention, the ICSID Additional Facility, and other rules such as the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL Arbitration Rules), as requested by the parties. It also offers a full range of related services in support of dispute resolution, including acting as appointing authority, naming consolidation

rules such as the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL Arbitration Rules), as requested by the parties. It also offers a full range of related services in support of dispute resolution, including acting as appointing authority, naming consolidation tribunals under certain treaties, and deciding party challenges of arbitrators or conciliators. ICSID Cases The initiation and conduct of cases under the Centre’s auspices are most often governed by one of ICSID’s two sets of procedural rules. These are the ICSID Convention, Regulations and Rules, and the ICSID Additional Facility Rules. Conciliation and arbitration proceedings under the ICSID Convention involve a legal dispute between an ICSID Contracting State and a national of another ICSID Contracting State. Such disputes arise out of an investment and the disputing parties must have consented in writing to submit their dispute to ICSID. The ICSID Additional Facility Rules allow the ICSID Secretariat to administer conciliation and arbitration of investment disputes where either the State party or the home State of the foreign investor is not an ICSID Contracting State. They also authorize conciliation and arbitration of disputes that do not arise directly out of an investment where at least one of the disputing parties

CHAPTER 4

OPERATIONS OF THE CENTRE Charles N. Brower, David A.R. Williams, and Jan Paulsson, Tribunal members, Milanka Kostadinova, ICSID Counsel, and Party Representatives, at a hearing in Hrvatska Elektroprivreda d.d. v. Republic of Slovenia, Paris, France, March 26, 2015, Yumiko Takahashi, World BankANNUAL REPORT 2015 | 19 is a Contracting State or a national of a Contracting State. While the majority of cases before the Centre are arbitrations administered under the ICSID Convention, there has also been an increase in the use of ICSID conciliation services in recent years. Other Cases The ICSID Secretariat also administers international dispute settlement proceedings under rules

Centre are arbitrations administered under the ICSID Convention, there has also been an increase in the use of ICSID conciliation services in recent years. Other Cases The ICSID Secretariat also administers international dispute settlement proceedings under rules other than the ICSID Convention or the ICSID Addi