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6.3.4.3. Transparency
A cohesive dispute settlement mechanism would be able to provide consistent interpretations…
For transparency related concerns to be adequately resolved, it is essential that…
Transparency regarding the initiation of disputes: The existence of a single unified dispute settlement mechanism would allow for the uniform application of the rules on transparency vis-à-vis the initiation of disputes. While it is essential that the MAI contains provisions requiring the establishment of an online directory (like that operated by the ICSID) to allow for information regarding the initiation of disputes to be disseminated, the IIC can ensure that this information is published on the directory immediately. Since only the existence of the disputes and the issues involved therein would be published, there would generally be no risk of publishing sensitive information.…
Transparency in proceedings allowing for passive participation: The IIC can operate to strike an adequate balance between the interest of the parties to keep sensitive information confidential and the interest of other stakeholders to have access to necessary information regarding
The court can also resolve uncertainty regarding what constitutes a reasonable amount…
Transparency in proceeding (active participation): While the MAI should contain…
Costs and delay: Allowing amicus participation raises concerns regarding an increase in the costs of dispute resolution and delays in the process.…
The IIC can reduce the potential of costs and delays while ensuring uniform participation…
Abuse of process: Concerns regarding the potential abuse of process because of allowing amicus participation can be remedied by the IIC through the uniform interpretation and application of the standard of proximity of interest for amicus participation contained in the MAI. As discussed above, the proper application of this standard would ensure that only those non-party stakeholders who have a significant interest in the dispute are allowed to submit briefs.…
Access to final decisions of the court: The creation of a standing court of investment would allow for the consistent adoption of an approach to the publishing of decisions that would strike an appropriate balance between the interest of transparency and confidentiality. In particular, the court can establish and consistently apply the practise of allowing the parties to request the redaction of sensitive information from the final decision before it is published. Once the court has differentiated between confidential information and those parts of the award that deal
6.3.4.2. Regulatory Autonomy
6.4. An Interim Measure
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