
Contents
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I. Introduction I. Introduction
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II. Annulment under the ICSID Convention II. Annulment under the ICSID Convention
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A. Annulment Decisions before 1992 A. Annulment Decisions before 1992
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B. Amco Asia II B. Amco Asia II
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C. Subsequent Annulment Decisions C. Subsequent Annulment Decisions
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III. Substantive Legal Review of Arbitral Awards outside the ICSID System III. Substantive Legal Review of Arbitral Awards outside the ICSID System
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A. The UNCITRAL Model Law A. The UNCITRAL Model Law
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B. The 1996 Arbitration Act in England B. The 1996 Arbitration Act in England
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C. The Federal Arbitration Act in the United States C. The Federal Arbitration Act in the United States
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D. General Principles of Law and International ‘Institutional Review’ D. General Principles of Law and International ‘Institutional Review’
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IV. Conclusion IV. Conclusion
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41 The Two Annulment Decisions in Amco Asia and ‘Non-Application’ of Applicable Law by ICSID Tribunals
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Published:November 2015
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Abstract
This chapter re-examines closely the annulment decisions in the Amco Asia v Indonesia case, which were pivotal to the establishment of the appropriate annulment legal standard in International Centre for Settlement of Investment Disputes (ICSID) arbitration. It highlights the often-overlooked fact that the first annulment decision (Amco Asia I) established a lower bar than the one usually applied today for the challenge of ICSID awards based on an ICSID tribunal’s ‘manifest excess of powers’. It was the innovative (and more stringent) standard adopted by the second annulment committee (Amco Asia II) that is typically adopted to this day under Article 52 of the ICSID Convention. The chapter concludes by juxtaposing Amco Asia II’s standard for annulment based on manifest excess of powers with national legislative regimes, noting that those systems usually do not turn at all on the distinct standard introduced by Amco Asia II.
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