ITA Roundtable at UNCITRAL Working Group III

Presented by ITA

Co-Sponsored by KNOETZL

The UNCITRAL Working Group III continues the consultations on the UNCITRAL paper A/CN.9/WG.III/WP.231 on Draft provisions on procedural and cross-cutting issues. The Paper addresses critical concerns with investor-State dispute settlement proceedings.

The focus of the roundtable discussion is on damages and compensation, specifically addressing Draft provision 23: Assessment of damages and compensation, and Draft provision 10: Shareholder claims of the UNCITRAL paper A/CN.9/WG.III/WP.231. The latest statistics of the International Centre for Settlement of Investment Disputes (ICSID) indicate that only 48% of the arbitral awards issued before ICSID have upheld investors’ claims in part or in full. The Energy Charter Treaty statistics show that investors’ claims are most of the times upheld only in part, rather than in full, by arbitral tribunals.

The roundtable discussion will address the types of the compensation in investor-State arbitrations, and, in particular, why restitution of property is not a usual relief sought by investors; the calculation of monetary damages; issues of contributory fault of investors; rare relief of moral damages; shareholders’ reflective loss; and the role of quantum expert in investor-State arbitrations.

The roundtable discussion will feature experts in the field, representing diverse views, including those of the States and of the foreign investors.

The event is free of charge, but registration is required as seats are limited.