Most Interesting 2022: Csernus: Is There Life After Death?: The Persuasive Value of Annulled Investment Awards

The third in our series "Most Interesting 2022":

Máté Csernus, Is There Life After Death?: The Persuasive Value of Annulled Investment Awards, Journal of International Dispute Settlement, Vol. 13, no. 3, pp. 393-412, 2022

International courts and tribunals spend a lot of time referencing, citing and discussing prior judgments and awards, even though there is no formal system of precedent in international dispute settlement. Máté Csernus adds to the burgeoning literature on this topic, discussing whether investment arbitration tribunals continue to refer to awards that have meanwhile been annulled or set aside. On the basis of a review of all citations of publicly available annulled awards, Csernus identifies three main reasons why tribunals continue to cite such awards even though they no longer legally 'exist'. Csernus demonstrates that an annulment or set aside does not necessarily deprive an award of its relevance, as it can continue to influence, accidentally or deliberately, the development of the law and the resolution of future disputes. Csernus' article is of great theoretical and practical value, as it forces us to rethink when and why we consider decisions as authoritative.

Johannes Hendrik Fahner
Associate, Allen & Overly LLP
Lecturer, University of Amsterdam