Empirical Study: Costs, Damages and Duration in Investor-State Arbitration
The BIICL Investment Treaty Forum in partnership with Allen and Overy is delighted to announce the publication of our empirical study on "Costs, Damages and Duration in Investor-State Arbitration"
The study analysed over 400 ICSID, UNCITRAL and ICSID annulment decisions rendered in investor-state arbitrations and builds on earlier empirical studies conducted by Allen & Overy.
It gives an evidence-based account of how much investment arbitral proceedings cost, how tribunals allocate those costs, the amount of damages awarded and how long proceedings last.
Key findings of the study include:
- Party costs have decreased over the past three years
- Investor costs remain higher than respondent States' costs in arbitral proceedings
- The prospects of recovering costs have improved
- Investors are claiming and are awarded larger amounts
- There is a steady increase in the length of investor-State proceedings
- The choice of arbitration rules does not significantly impact tribunal costs, costs allocation and duration of investor-State proceedings
This study is co-authored by Professor Yarik Kryvoi, Director of the Investment Treaty Forum of BIICL, with Matthew Hodgson and Daniel Hrčka of Allen & Overy.
Download the report:
Matthew Hodgson, Yarik Kryvoi and Daniel Hrcka, "2021 Empirical Study: Costs, Damages and Duration in Investor-State Arbitration", London, 2021
Watch a recording of the launch event:
