Ecuador is Now Officially a Contracting State of The ICSID Convention

On June 30, 2021, Ecuador’s Constitutional Court (Constitutional Court) held that President Guillermo Lasso had the power to ratify the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) without the approval of Ecuador’s National Assembly (the Decision). The Constitutional Court also held that the ratification of the ICSID Convention does not imply that Ecuador has assigned inherent domestic powers to international jurisdiction nor that the ratification of the treaty automatically binds Ecuador to investor-state arbitration…

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