Part IV Additional observations, 14 Proposals to Modify the ICSID Annulment Mechanism

14.01 In the past decade, several authors, practitioners, and States have proposed different alternatives to the current ICSID control mechanism, the most popular being the creation of an appellate mechanism that would substitute for annulment. The reasons commonly relied on to justify these proposals involve concerns regarding fairness and public interest issues, the existence of inconsistent decisions in investment arbitration case law, and legitimacy considerations.1 It is undeniable that fairness, consistency, transparency, and legitimacy concerns should be...