Kinnear, Meg --- "Foreword" [2019] ELECD 3014; in Fouret, Julien; Gerbay, Remy; Alvarez, M. Gloria (eds), "The ICSID Convention, Regulations and Rules" (Edward Elgar Publishing, 2019) liv

Book Title: The ICSID Convention, Regulations and Rules

Editor(s): Fouret, Julien; Gerbay, Rémy; Alvarez, M. Gloria

Publisher: Edward Elgar Publishing

Section Title: Foreword

Author(s): Kinnear, Meg

Number of pages: 2

Extract:

FOREWORD




The ICSID Convention of 1965 established a unique legal mechanism for the resolu-
tion of disputes between investors and States. Although its drafters certainly under-
stood the extraordinary potential of the ICSID mechanism, it is probably fair to say
that many observers did not grasp the transformative nature of this system until at least
two or three decades after it came into force. Today there is no doubt that the ICSID
Convention and its rules and regulations have become one of the most important and
effective international legal tools of this century.

Those who study the ICSID Convention and the rules implementing this treaty recog-
nize the sophistication of the system that was designed under the watchful eye of Aron
Broches and his legal staff in the World Bank. The provisions of the treaty and its rules
strike a careful balance between the rights of investors and States, which is evident in
the tribunal procedures as well as in the post-Award proceedings that so carefully bal-
ance the competing demands of finality and correctness.

This new commentary, envisioned and realized by Julien Fouret, Rémy Gerbay and
Gloria Alvarez, is a tremendous analysis of the foundational documents of the ICSID
system. The contributors are experts in the field, as counsel, arbitrators and academics
in investor-State matters, and each has a well-informed perspective on their material.

Each chapter analyses an article, rule or paragraph of the Convention or ICSID rules.
While the chapters have a similar overall ...