This article discusses briefly the development of opinions on the possibility of review of the decisions of international tribunals in general and states that international investment arbitrations fall under the notion of dispute settlement in public international law. It also provides a discussion that the drafters of the relevant international treaty have also drawn from private law and moreover from international commercial arbitration. This article attempts to analyse briefly several key decisions of ad hoc committees established in accordance with the provisions of Article 52 of the International Centre for Settlement of Investment Disputes (ICSID) Convention. It briefly assess whether it is necessary to broaden the scope of the review of arbitral awards in investment disputes and particularly whether it would be convenient to introduce into investment disputes an appellate system allowing for the review of the merits of investment disputes.