Document Type : Research Paper

Authors

1 Private Law, Faculty of Law and political science, Allameh Tabatab'i University, Tehran ran

2 Assistant professor of Faculty of Law and Political Science of Allameh Tabataba'i University

Abstract

The doctrine of ‘corporate veil’ is one of most controversial issues in international arbitration. Arbitral tribunals have taken different views as to whether the corporate veil should be lifted in investment arbitration. In ICSID arbitration, this doctrine has been discussed in the context of ‘nationality’ by considering ‘foreign control’ and ‘treaty shopping’, and there are conflicting awards in this regard. The problem arises when tribunals face the question of lifting corporate veil by applying the criterion of ‘nationality’. Treaty shopping itself has been subject to controversy and different interpretations. The controversy is posed when tribunals assess the relevance of place of registration as a criterion for determination of corporate nationality. By evaluating ICSID arbitration awards, this article argues that the doctrine of corporate veil has been recognized in the majority of cases. It concludes that at least, in ICSID arbitration, this doctrine may not be perceived as a strict exception.

Keywords

الف- فارسی
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