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51 Va. J. Int'l L. 749 (2010-2011)
Shifting Sands: Cost-and-Fee Allocation in International Investment Arbitration

handle is hein.journals/vajint51 and id is 755 raw text is: NOTE Shifting Sands: Cost-and-Fee Allocation in International Investment Arbitration DAVID SMITH* Introduction... ................ ............ 749 I. Current Cost-Allocation Practice .................... 751 A. A Whole Lotta' Nothin': ICSID and UNCITRAL Costs Provisions ...................... ..... 751 B. Herding Cats: Scholarship on Costs, Quantitative and Qualitative .............................. 752 II. The 2008-2009 Awards .......................... 757 A. No Triumph of Evil Over Good: Malfeasance and Respondent Cost Victories ............... ..... 757 1. Old Facts, New Results: Growth of Pure Loser Pays? .................. ...... ..... 758 2. Old Results, New Facts: Plama and Other Claimant Adventures .......... ........ 761 B. Steady as She Goes: Claimant Cost Victories................. 763 C. Much Ado About Nothing: Non-Shifting Awards.......... 767 1. Holding the Line: Respondent Victories Without Cost Shifting .................. 768 2. Double, Not Home Run: Claimant Damages Awards Without Cost Shifting ........ ........ 773 III. Toward the Future ................................... 775 Conclusion ................................. ...... 779 INTRODUCTION Investment arbitration is an expensive endeavor. In complex cases reaching full merits proceedings, combined party costs frequently reach into the millions of dollars, and sometimes even into the tens of millions.I Yet, unlike most domestic jurisdictions, the World Bank's * University of Virginia School of Law, J.D. 2010; University of Virginia, B.A. 2007. 1. See, e.g., Ceskoslovenska Obchodni Banka, a.s. v. The Slovak Republic, ICSID Case No.

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