Partial annulment of ICSID award against Chile | Practical Law

Partial annulment of ICSID award against Chile | Practical Law

In Victor Pey Casado and Foundation "Presidente Allende" v Republic of Chile (ICSID Case No. ARB/98/2, Annulment decision of 18 December 2012), an ad hoc committee considered an application to annul an ICSID award because the tribunal had seriously departed from a fundamental rule of procedure by denying the parties an opportunity to be heard on the appropriate method for the calculation of damages and by giving contradictory reasoning for its own determination of what that method should be.

Partial annulment of ICSID award against Chile

Practical Law UK Legal Update 8-523-5829 (Approx. 6 pages)

Partial annulment of ICSID award against Chile

by Emily Blanshard, Herbert Smith Freehills LLP
Published on 16 Jan 2013International, USA (National/Federal)
In Victor Pey Casado and Foundation "Presidente Allende" v Republic of Chile (ICSID Case No. ARB/98/2, Annulment decision of 18 December 2012), an ad hoc committee considered an application to annul an ICSID award because the tribunal had seriously departed from a fundamental rule of procedure by denying the parties an opportunity to be heard on the appropriate method for the calculation of damages and by giving contradictory reasoning for its own determination of what that method should be.