Originally from World Arbitration And Mediation Review (WAMR)

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I. INTRODUCTION
The mechanism within ICSID for annulment potentially erases
an ICSID arbitral award – an award that, except for the processes
of annulment and revision, was intended to be final and binding.1
These decisions of the ad hoc annulment committees are
therefore critically significant.2 But arguably the quality of the
decisions of the committees is not commensurate with their
significance. A number of recent annulment decisions have been
sharply criticized by scholars (and others not associated with a
particular case) as overly intrusive and undisciplined.3 Others
point to these same decisions as being emblematic of deeper
problems in the ICSID arbitration system and foreign investment
protection generally.