News 26 Mar. 2024

Partner Elisa Botero is Appointed to the ICSID Panel of Conciliators

Partner Elisa Botero has been appointed by the Republic of Colombia to the International Centre for Settlement of Investment Disputes (ICSID) Panel of Conciliators. This esteemed panel includes designees from the ICSID Contracting States. Ms. Botero’s recent panel member appointment by Colombia followed an open competitive process.

The panel has been established by ICSID to help promote the use of conciliation in resolving investment disputes with an aim to bring resolution to a dispute by agreement of the parties on mutually acceptable terms. The role of the Conciliation Commission is to clarify issues, request information, recommend settlement terms, and record areas of agreement or disagreement. While ICSID has registered 992 arbitration cases, there have only been 14 conciliation proceedings to date. There is vast potential for greater use of this mechanism to facilitate negotiated settlements as the conciliation process opens up a valuable dispute resolution avenue for investors and States.

More information about the ICSID panel of conciliators is available here.

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