Download Free Expropriation In Investment Treaty Arbitration Book in PDF and EPUB Free Download. You can read online Expropriation In Investment Treaty Arbitration and write the review.

Many investment arbitration cases involve a challenge to a regulatory measure of a host state on the basis of indirect expropriation. The practice of arbitral tribunals is diverse and unsettled. In recent years States have been trying to clarify the relationship between regulatory freedom (also known as 'police powers') and indirect expropriation by revising provisions on indirect expropriation in their investment treaties. This book provides the first focused analysis of indirect expropriation and regulatory freedom, drawing on a broad range of the jurisprudence of investment tribunals. The nature of regulatory freedom in international law has been explained on the bases of jurisprudence of international courts and tribunals such as the International Court of Justice (ICJ), Permanent Court of International Justice (PCIJ), dispute resolution bodies of the World Trade Organisation (WTO), European Court of Human Rights. While showing how cases involving standoff between regulatory freedom and indirect expropriation can be resolved in practice, the book goes on to present a conceptual framework for interpreting the nuances of this relationship. The book provides a detailed responses to the following complex questions: • To what extent do states retain regulatory freedom after entering into investment treaties? • What is the scope of regulatory freedom in general public international law? • What are the elements of regulatory freedom and standard of review? • How to draw a dividing line between regulatory freedom and indirect expropriation? • Whether the sole effects doctrine or the police powers is the appropriate method for distinguishing between regulatory freedom and indirect expropriation? While addressing these questions, the author analyses different theoretical approaches that reflect upon the relationship between regulatory freedom and indirect expropriation and how far they assist in understanding these potentially overlapping concepts; their relationship with each other; and the method for distinguishing between them. Given the dense network of around three thousand bilateral investment treaties (BITs) that impose an obligation to protect foreign investments in a State, this book will help practitioners identify, through analysis of cases from diverse fields, how a situation may be categorized either as regulatory freedom or as indirect expropriation. The analysis will also be of value to government officials and lawyers involved in negotiating and re-negotiating investment treaties, and to arbitrators who have to decide these issues. Scholars will welcome the book's keen insight into the contentious relationship between a customary international law norm and a treaty norm.
In recent years, there has been a marked increase in the number of investors seeking compensation from states perceived to have expropriated their projects. Part of the Oxford International Arbitration Series, this book provides a comprehensive guide to expropriation and how it is applied in practice. The book begins by introducing the law of expropriation from a historical standpoint, charting some of the key decisions in the history of expropriation and how it has evolved to become an accepted principle in international law today. It then proceeds to offer a detailed examination of existing case law, from which common substantive principles of the international law on expropriation are drawn out. Relevant international cases from the ICJ, ECHR, Iran-US Tribunal, ICSID, NAFTA, and the ECT are considered to complement the focus on investment treaty arbitration. The book also examines the interplay between expropriation and other standards of treaty protection, namely fair and equitable treatment. The final chapters comment on current trends and assess the relevance of expropriation in the present day.
Arbitration Under International Investment Agreements: A Guide to the Key Issues provides a comprehensive analysis of the main issues that arise in investor-state arbitration. The contributing authors take the reader through the intricacies of this procedure before analyzing the main jurisdictional and substantive issues that confront arbitrators. The book concludes with a reflection on the role of precedent in investment arbitration. A diverse group of renowned experts in the field provide comprehensive coverage, making Arbitration Under International Investment Agreements a valuable resource for anyone working in or studying this field of law.
Today thousands of investors act globally in markets providing services, technology or capital in countries all around the world. This activity can be peacefully accomplished when both the investor and the host State know that the disputes will be resolved under the aegis of the investor-State arbitration regime, wherein an investor is provided with a direct right of action against a State, most commonly stemming from a bilateral or multilateral investment treaty. This book approaches the substantive and sometimes difficult concepts of investor-State arbitration in a clear and concise explanatory fashion. In the course of acquainting the reader with the basic legal concepts and policies of the regime, the authors address such issues as the following: • consent to jurisdiction; • State responsibility; • possible conflict of interests; • mechanisms for reviewing an award; • damages and costs; and • enforcement. The book examines a number of arbitration procedures arising from various perspectives with differing underlying assumptions while highlighting important cases. Given that investor-State arbitration is now under the public watch and facing many challenges, this remarkably clear and concise overview of the regime will prove to be of great value to in-house counsel and other practitioners, as well as to government policymakers and students.x`
Driven by public opinion in host states, contracting parties to investment agreements are pursuing many avenues in order to curb a system that is being perceived - correctly or not - as having run out of control. Reassertion of Control over the Investment Treaty Regime is the first book of its kind to examine the many issues of procedure, substantive law, and policy which arise from this trend. From procedural aspects such as frivolous claims mechanisms, the establishment of appeals mechanism or state-state arbitration, to substantive issues such as joint interpretations, treaty termination or detailed definitions of standards of protection, the book identifies and discusses the main means by which states do or may reassert their control over the interpretation and application of investment treaties. Each chapter tackles one of these avenues and evaluates its potential to serve as an instrument in states' reassertion of control.
Transnational investment involves a variety of actors (States, public and private legal entities, and natural persons) whose relationships are governed by rules and legal instruments belonging to different legal systems. This book provides a systematic study of the sources of rights and obligations in the field of transnational investment, and their coordination and interaction. It focuses primarily on the network of over 3,000 Bilateral Investment Treaties, international investment contracts, customary international law, the main multilateral treaties, national legislation, international case law and general principles of law. The book, firmly based on State practice, arbitral awards and national decisions, is indispensable to fully appraise the nature and content of the claims of private investors as well as to identify the law applicable in investment arbitration.
This book outlines the protection standards typically contained in international investment agreements as they are actually applied and interpreted by investment tribunals. It thus provides a basis for analysis, criticism, and stocktaking of the existing system of investment arbitration. It covers all main protection standards, such as expropriation, fair and equitable treatment, full protection and security, the non-discrimination standards of national treatment and MFN, the prohibition of unreasonable and discriminatory measures, umbrella clauses and transfer guarantees. These standards are covered in separate chapters providing an overview of textual variations, explaining the origin of the standards and analysing the main conceptual issues as developed by investment tribunals. Relevant cases with quotations that illustrate how tribunals have relied upon the standards are presented in depth. An extensive bibliography guides the reader to more specific aspects of each investment standard permitting the book's use as a commentary of the main investment protection standards.
Today there are more than 2,500 bilateral investment treaties (BITs) around the world. Most of these investment protection treaties offer foreign investors a direct cause of action to claim damages against host-states before international arbitral tribunals. This procedure, together with the requirement of compensation in indirect expropriations and the fair and equitable treatment standard, have transformed the way we think about state liability in international law. We live in the BIT generation, a world where BITs define the scope and conditions according to which states are economically accountable for the consequences of regulatory change and administrative action. Investment arbitration in the BIT generation carries new functions which pose unprecedented normative challenges, such as the arbitral bodies established to resolve investor/state disputes defining the relationship between property rights and the public interest. They also review state action for arbitrariness, and define the proper tests under which that review should proceed. State Liability in Investment Treaty Arbitration is an interdisciplinary work, aimed at academics and practitioners, which focuses on five key dimensions of BIT arbitration. First, it analyses the past practice of state responsibility for injuries to aliens, placing the BIT generation in historical perspective. Second, it develops a descriptive law-and-economics model that explains the proliferation of BITs, and why they are all worded so similarly. Third, it addresses the legitimacy deficits of this new form of dispute settlement, weighing its potential advantages and democratic shortfalls. Fourth, it gives a comparative overview of the universal tension between property rights and the public interest, and the problems and challenges associated with liability grounded in illegal and arbitrary state action. Finally, it presents a detailed legal study of the current state of BIT jurisprudence regarding indirect expropriations and the fair and equitable treatment clause.
This volume celebrates the first fifty years of the International Centre for Settlement of Investment Disputes (ICSID) by presenting the landmark cases that have been decided under its auspices. These cases have addressed every aspect of investment disputes: jurisdictional thresholds; the substantive obligations found in investment treaties, contracts, and legislation; questions of general international law; and a number of novel procedural issues. Each chapter, written by an expert on the chapter’s particular focus, looks at an international investment law topic through the lens of one or more of these leading cases, analyzing what the case held, how it has been applied, and its overall significance to the development of international investment law. These topics include: - applicable law; - res judicata in investor-State arbitration; - notion of investment; - investor nationality; - consent to arbitration; - substantive standards of treatment; - consequences of corruption in investor-State arbitration; - State defenses - counter-claims; - assessment of damages and cost considerations; - ICSID Arbitration Rule 41(5) objections; - mass claims, consolidation and parallel proceedings; - provisional measures; - arbitrator challenges; - transparency and amicus curiae; and - annulment. Because the law of international investment continues to grow in importance in an ever globalizing world, this book is more than a fitting way to mark the past fifty years and to welcome the next fifty years of development. It will prove both educational for practitioners new to the field and informative for seasoned investment lawyers. Moreover, the book itself is a landmark that will be of great value to professionals, scholars and students interested in international investment law.
The book focuses on the substantive protections accorded to investors and investments and on the variations among jurisdictions. Among the many specific issues and topics that arise in the course of the discussion are the following: - problems of transparency and conflict of interest; - the recent growth in IIAs between and among developing nations; - the effect of new model bilateral investment treaties (BITs); - the ability of non-disputing parties to participate in investor-state arbitration; - theories of the interaction of foreign direct investment (FDI) and BITs; - investor-state arbitration as an evasion of public regulatory authority; - the role of investment funds in international investment; - 'fork in the road' provisions; and - institutional versus ad hoc arbitration. International business and other investors will greatly appreciate the in-depth information and insightful guidance in this solidly useful book. It will also be welcomed by jurists and students as a significant milestone in the development of principles in a quickly growing field of practice that is still plagued with inconsistencies.