International Center for Settlement of Investment Disputes


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International Center for Settlement of Investment Disputes

(ICSID), specialized agency of the United Nations. A member of the World Bank Group (see International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
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), it was formed in 1966 and has its headquarters in Washington, D.C. In an effort to help promote increased flows of international investment, ICSID assists in the mediation or conciliation of investment disputes between governments and private foreign investors. Participation in such arbitration is voluntary. Normally the parties are among the agency's 147 member states or citizens of those states, but in special circumstances nonparticipating states or individuals from such states may be accepted as mediating parties. An autonomous international organization, ICSID has close links with the World Bank; it operates through both an administrative council, chaired by the World Bank's president, and a secretariat.
References in periodicals archive ?
His comment comes amid expectation that a ruling from the International Center for Settlement of Investment Disputes (ICSID) on a dispute between the government and Lone Star will be reached in the near future.
Prime Minister Shahid Khaqan Abbasi briefed the house in-camera on the implications of the decision of an Arbitration Tribunal of the World Bank's International Center for Settlement of Investment Disputes (ICSID) on the arbitration claims filed by Tethyan Copper Company against Pakistan in relation to the denial of a mining lease for the Reko Diq project.
The World Bank Group comprises five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA); International Finance Corporation (IFC); Multilateral Investment Guarantee Agency (MIGA); and International Center for Settlement of Investment Disputes (ICSID).
Apart from the case against Piatco, the government also faced an arbitration case filed by Fraport, Piatco's foreign partner, in the International Center for Settlement of Investment Disputes (ICSID), the arbitration arm of the World Bank based in Washington.
The construction unit of Samsung Group said it asked the International Center for Settlement of Investment Disputes (ICSID) to arbitrate a refinery improvement project in which the company was chosen as a preferred bidder in 2013 by the state-run Oman Refineries and Petroleum Industries Company (ORPIC).
The faction also decided to recommend the Parliament set up a temporary parliamentary commission to examine legitimacy of spending funds from the public budget to repay the debt as ruled by the International Center for Settlement of Investment Disputes.
The move resulted in Repsol filing a complaint with the Washington-based International Center for Settlement of Investment Disputes.
Earlier this year it sued Pakistan at the World Bank's International Center for Settlement of Investment Disputes, seeking $600 million for breach of contract.
The company already has a $10 billion compensation lawsuit against Argentina and commenced arbitration proceedings with the World Bank's International Center for Settlement of Investment Disputes this month.
Repsol said it had told Fernandez of a dispute under the Treaty for Investment Promotion and Protection agreed between Spain and Argentina -- a necessary step for arbitration at the World Bank's International Center for Settlement of Investment Disputes.
Biwater also filed suit at the World Bank-administered International Center for Settlement of Investment Disputes (ICSID), where it sought to enforce the terms of a Tanzania-UK investment treaty.
Cemex esta planeando buscar un arbitraje internacional ante el International Center for Settlement of Investment Disputes (Centro Internacional para la Resolucion de Disputas de Inversion) despues de la confiscacion de sus activos.

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