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members appointed by the EU to one Tribunal to their
own Appeal Tribunal.” 92

One can imagine that the body of law deriving from EU ICS Tribunals
may diverge from ICSID and ad hoc ISDS tribunals, leading to divergent trends

rather than harmonised body of law. The Appeal Tribunal for the TTIP, CETA or

EU-Vietnam FTA could also interpret certain issues such as the right to regulate
differently, resulting in opposite outcome of the purpose of the establishment of
the ICS. The politics surrounding the appointment of the EU Tribunal Members

and Appellate Tribunal among the three and other treaties could also come

into play if the EU decides to nominate the same individuals from the EU.

(4) Speed and Costs of Proceedings

An aspirational aspect, and one of the most contentious issues, of the

EU’s proposal for the two-tier ICS is the envisaged efficiency of the proceedings.
Subject to certain exceptions, the overall proceedings under the ICS, including

appeal, are limited to two years (the Tribunal of First Instance must decide
within eighteen months and the Appeal Tribunal within six months). The
93
European Commission claimed in a memo that the ICS would provide a more
94
“cost effective and faster investment dispute resolution system” because
of the clear procedural deadlines and clearly defined grounds for appeal. By
way of comparison, the Commission estimates that ISDS arbitrations often last

95
five to six years and that many take even longer. Moreover, the Commission
92. C. Le่vesque, The European Union Commission Proposal for the Creation of an ‘Investment Court
System ’: The Q and A that the Commission Won’t Be Issuing, Kluwer Arbitration Blog, 6 April
2016. Retrieved from http://arbitrationblog.kluwerarbitration.com/2016/04/06/the-european-union-
commission-proposal-for-the-creation-of-an-investment-court-system-the-q-and-a-that-the-commission-
wont-be-issuing/.
93. Article 8.39(7) of the CETA; Articles 27(6) and 28(5) of the EU-Vietnam FTA; Articles 28(6) and
29(3) of the TTIP.
94. Supra at 84.
95. Id.

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