The backlash against investment arbitration perceptions and reality
Gespeichert in:
| Format: | Buch |
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| Sprache: | English |
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Austin, Tex. [u.a.]
Wolters Kluwer Law & Business
2010
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| 020 | |a 9789041132024 |c acidfree paper |9 978-90-411-3202-4 | ||
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| 245 | 1 | 0 | |a The backlash against investment arbitration |b perceptions and reality |c edited by Michael Waibel ... [et al.] |
| 264 | 1 | |a Austin, Tex. [u.a.] |b Wolters Kluwer Law & Business |c 2010 | |
| 300 | |a LIV, 614 S. |b graph. Darst. |c 25 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a "This book, the outgrowth of a conference organized by the editors at Harvard Law School on April 19, 2008, aims to uncover the drivers behind the backlash against the current international investment regime."--P. xxxvii-xxxviii. | ||
| 500 | |a Includes bibliographical references and index | ||
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Investments, Foreign (International law) |v Congresses | |
| 650 | 4 | |a Arbitration and award, International |v Congresses | |
| 650 | 4 | |a Investments, Foreign |x Law and legislation |v Congresses | |
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Datensatz im Suchindex
| DE-BY-UBM_katkey | 4457916 |
|---|---|
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| _version_ | 1823054772248248320 |
| adam_text | IMAGE 1
KLUWER LAW INTERNATIONAL
THE BACKLASH AGAINST INVESTMENT ARBITRATION
PERCEPTIONS AND REALITY
EDITED BY
MICHAEL WAIBEL
ASHA KAUSHAL
KYO-HWA LIZ CHUNG
CLAIRE BALCHIN
P.WOLTERS KLUWER
LAW & BUSINESS
AUSTIN BOSTON CHICAGO NEW YORK THE NETHERLANDS
IMAGE 2
TABLE OF CONTENTS
FOREWORD TO THE BACKLASH AGAINST INVESTMENT ARBITRATION XXIII DETLEV
VAGTS
BIOGRAPHIES OF EDITORS XXVII
BIOGRAPHIES OF CONTRIBUTORS XXIX
THE BACKLASH AGAINST INVESTMENT ARBITRATION: PERCEPTIONS AND REALITY
XXXVII
MICHAEL WAIBEL, ASHA KAUSHAL, KYO-HWA LIZ CHUNG & CLAIRE BALCHIN
ACKNOWLEDGMENTS LIII
PARTI THE PROTECTION OF INTERNATIONAL INVESTMENT: ASSESSING TREATY
OBLIGATIONS 1
CHAPTER 1 DISREGARDING THE CORPORATE VEIL AND DENIAL OF BENEFITS
CLAUSES: TESTING TREATY LANGUAGE AND THE CONCEPT OF INVESTOR 3
RACHEL THORN & JENNIFER DOUCLEFF I. INTRODUCTION 3
PART 1: DEFINITIONS OF INVESTOR IN INVESTMENT TREATIES AND DENIAL OF
BENEFITS CLAUSE: AN OVERVIEW OF THEIR HISTORY, OBJECTIVE, AND PURPOSE 5
I. DEFINITION OF INVESTOR AND DENIAL OF BENEFITS CLAUSES 5
A. DEFINITION OF INVESTOR 6
1. PLACE OF INCORPORATION 6
IX
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TABLE OF CONTENTS
2. SIEGE SOCIAL 7
3. CONTROL 8
4. COMBINED FACTORS 8
B. DENIAL OF BENEFITS CLAUSES 9
PART 2: THE LEGAL AND INTERPRETIVE ISSUES RAISED BY THE DEFINITION OF
INVESTOR AND DENIAL OF BENEFITS CLAUSES IN THE DECISIONS AND AWARDS OF
INTERNATIONAL TRIBUNALS 11
I. DISREGARDING THE CORPORATE FORM AND THE DEFINITION OF INVESTOR 12 A.
INVESTOR NARROWLY DEFINED AS PLACE OF INCORPORATION 13 B. PIERCING THE
CORPORATE VEIL TO DETERMINE CONTROL 15
II. PIERCING THE CORPORATE FORM FOR ABUSE OR FRAUD 18
III. DEFINING THE THRESHOLD LEVEL OF ECONOMIC ACTIVITY WITHIN A
CONTRACTING PARTY 21
IV. BURDEN OF PROOF WHEN A STATE INVOKES A DENIAL OF BENEFITS CLAUSE 23
V. THE EFFECT OF DENIAL OF BENEFITS CLAUSE 25
A. NOTICE REQUIREMENT 25
B. WHEN A DENIAL OF BENEFITS CLAUSE MUST BE INVOKED 25
VI. CONCLUDING REMARKS AND PRACTICAL IMPLICATIONS 26
CHAPTER 2 PRIVATE ENFORCEMENT OF INTERNATIONAL INVESTMENT LAW: WHY WE
NEED INVESTOR STANDING IN BIT DISPUTE SETTLEMENT 29
STEPHAN W. SCHILL
I. INTRODUCTION 29
II. CREDIBLE COMMITMENTS, DISPUTE SETTLEMENT, AND INVESTMENT COOPERATION
31
III. THE LACK OF EFFICIENT DISPUTE RESOLUTION IN DOMESTIC LEGAL ORDERS
33
IV. THE STRUCTURAL DEFICIENCIES OF CUSTOMARY INTERNATIONAL LAW 36 V. THE
INSUFFICIENCIES OF ALTERNATIVE SCHEMES OF FOREIGN INVESTMENT PROMOTION
AND PROTECTION 45
VI. CONCLUSION 48
CHAPTER 3 DRAWING THE LIMITS OF FREE TRANSFER PROVISIONS 51
ALEJANDRO TURYN & FACUNDO PEREZ AZNAR
I. INTRODUCTION 51
A. EARLY CASES 53
II. THE BIWATER GAUFF AWARD: THE PROVISION IS NOT A GUARANTEE OF FUNDS
55
III. THE CONTINENTAL AWARD 56
A. BACKGROUND OF THE ARGENTINE EMERGENCY SITUATION 58
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B. LANDMARK FINDINGS OF THE CONTINENTAL AWARD 59
C. FINDINGS REGARDING THE FREE TRANSFER PROVISION 66
IV. THE VALIDITY OF EXCHANGE RESTRICTIONS DUE TO BALANCE-OF-PAYMENTS
DIFFICULTIES OR OTHER EXCEPTIONAL SITUATIONS 72
V. FREE TRANSFERS PROVISIONS AND THE APPLICABILITY OF NON-PRECLUDED
MEASURES CLAUSES, EMERGENCY SITUATIONS CLAUSES, AND THE NECESSITY
DEFENSE 75
VI. CONCLUSION 77
CHAPTER 4 A COMPARISON OF ICSID AND UNCITRAL ARBITRATION: AREAS OF
DIVERGENCE AND CONCERN 79
STEPHEN JAGUSCH & JEFFREY SULLIVAN
I. II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
INTRODUCTION CONSTITUTION OF THE TRIBUNAL A. ICSID B. UNCITRAL
C. COMMENT JURISDICTION A. ICSID B. UNCITRAL
C. COMMENT PROVISIONAL MEASURES A. ICSID B. UNCITRAL
C. COMMENT CONFIDENTIALITY AND TRANSPARENCY A. ICSID B. UNCITRAL
C. COMMENT ROLE OF DOMESTIC COURTS A. ICSID B. UNCITRAL
C. COMMENT RECOGNITION, ENFORCEMENT, AND REVIEW OF AWARDS A. ICSID
B. UNCITRAL C. COMMENT COSTS A. ICSID
B. UNCITRAL C. COMMENT CONCLUSION
79 81 81 82
84 85 85 87
88 88 89 91 92 93 93 94
96 96 97
97 98 99 100 102 104 105 105 106 107 108
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PART II PARALLEL PROCEEDINGS AND CONFLICTING AWARDS 111
CHAPTER 5 THE ISSUES RAISED BY PARALLEL PROCEEDINGS AND POSSIBLE
SOLUTIONS 113 AUGUST REINISCH
I. INTRODUCTION 113
II. DANGERS OF MULTIPLE PROCEEDINGS 114
III. THE PARTICULARLY FRAGMENTED UNIVERSE OF INVESTMENT ARBITRATION 114
IV. THE CENTRAL RISK OF MULTIPLE PROCEEDINGS: INCONSISTENT OUTCOMES 115
A. DIVERGENT VIEWS ON LEGAL ISSUES 115
B. DIVERGENT ASSESSMENTS OF IDENTICAL FACTS 116
C. CONFLICTING RESULTS IN THE SAME DISPUTE 117
V. POSSIBLE SOLUTIONS 118
A. AN APPELLATE MECHANISM FOR INVESTMENT ARBITRATION 118 B. PRELIMINARY
REFERENCES IN INVESTMENT MATTERS 118
C. CONSOLIDATION OF PROCEEDINGS 119
D. RES JUDICATA AND LIS PENDENS 120
E. PRECEDENT 124
CHAPTER 6 PARALLEL PROCEEDINGS: A PRACTITIONER S PERSPECTIVE 127
RICHARD H. KREINDLER
I. PARALLEL PROCEEDINGS IN INTERNATIONAL ARBITRATION FROM THE
PRACTITIONER S PERSPECTIVE 128
A. PARALLEL PROCEEDINGS IN INTERNATIONAL ARBITRATION 128
1. LACK OF CONTRACTUAL PRIVITY 128
2. PRESENCE OF CONTRACTUAL PRIVITY 130
3. PARALLEL PROCEEDINGS AND ISSUES OF THE SEAT AND/OR APPLICABLE
ARBITRAL RULES 132
4. THE APPLICABLE SUBSTANTIVE LAW 133
B. MOTIVATIONS FOR FORUM SHOPPING FROM THE PRACTITIONER S PERSPECTIVE
138
II. POSSIBILITIES TO HOLD ARBITRAL FORUM SHOPPING IN CHECK 140
III. DO PARALLEL PROCEEDINGS AND FORUM SHOPPING IMPACT NEGATIVELY ON
INTERNATIONAL ARBITRATION? 146
CHAPTER 7 ANNULMENT AND ITS ROLE IN THE CONTEXT OF CONFLICTING AWARDS
151 CHRISTINA KNAHR
I. INTRODUCTION 151
II. JURISDICTION OF AD HOC COMMITTEES 152
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III. GROUNDS FOR ANNULMENT 153
A. MANIFEST EXCESS OF POWERS 154
B. FAILURE TO STATE REASONS 157
C. SERIOUS DEPARTURE FROM A FUNDAMENTAL RULE OF PROCEDURE 159
IV. THE ROLE OF ANNULMENT IN THE CONTEXT OF CONFLICTING AWARDS 160 A.
MANIFEST EXCESS OF POWERS? 161
B. FAILURE TO STATE REASONS? 162
V. CONCLUSIONS 162
CHAPTER 8 COMPENSATION FOR NON-EXPROPRIATORY INVESTMENT TREATY BREACHES
IN THE ARGENTINE GAS SECTOR CASES: ISSUES AND IMPLICATIONS 165 KATHRYN
KHAMSI
I. COMPENSATION FOR NON-EXPROPRIATORY INVESTMENT TREATY BREACH:
REASONING IN THE ARGENTINE GAS SECTOR CASES 170
II. USE AND CALCULATION OF THE FAIR MARKET VALUE MEASURE IN THE CMS,
ENRON, SEMPRA, AND BG GROUP AWARDS 171
A. REFUSAL TO COMPENSATE LOST FUTURE PROFITS IN THE LG&E DAMAGES AWARD,
AND CONSEQUENT REJECTION OF THE FAIR MARKET VALUE MEASURE 174
III. ISSUES RAISED BY THE COMPENSATION REASONING IN THE ARGENTINE GAS
SECTOR CASES 176
A. THE MEASURE OF COMPENSATION: ITS CHOICE AND IMPLICATIONS 176 B.
COMPENSATING LOST FUTURE PROFITS: THE REQUIREMENT OF REASONABLE
CERTAINTY AND ITS SATISFACTION 179
IV. CONCLUSION: IMPLICATIONS OF THE COMPENSATION REASONING IN THE
ARGENTINE GAS SECTOR CASES 184
PART III PROTECTING THE PUBLIC INTEREST 187
CHAPTER 9 ARBITRATOR INTEGRITY 189
WILLIAM W. PARK
I. LEVEL PLAYING FIELDS 189
A. HERACLEITUS MEETS THE PSALMIST 189
B. WHY BIAS MATTERS 191
C. TWO WAYS TO SABOTAGE ARBITRATION 193
II. PROBLEMATIC RELATIONSHIPS AND ATTITUDES 194
A. THE BASICS: INDEPENDENCE AND IMPARTIALITY 194
B. CAN INTEGRITY BE WAIVED? 197
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C. THE DEVIL IN THE DETAIL 199
1. CLEAR CONFLICTS 199
2. VARIATIONS ON A THEME 199
D. THE PARTIES ROLE IN ARBITRATOR SELECTION 201
III. NEW FRONTIERS 205
A. ISSUE CONFLICT AND ROLE CONFUSION 205
B. INSTITUTIONAL BIAS AND PROFESSIONAL AFFILIATION 207
C. REPEAT PLAYERS 209
D. DUTY TO INVESTIGATE 209
IV. CHALLENGES IN INVESTOR-STATE ARBITRATION 211
A. THE PARADIGM SHIFT 211
B. CRITIQUES OF ARBITRATOR INTEGRITY IN INVESTOR-STATE CASES 212 1.
SYSTEMIC BIAS IN FAVOR OF INVESTORS 213
2. DISILLUSIONMENT WITH ARBITRATION 216
C. MECHANICS OF CHALLENGE: BASIC TEXTS 220
D. FILLING THE GAPS 223
1. THE EFFECT OF INSTITUTIONAL RULES AND CASE LAW 223
2. THE SPECIFICITY OF INVESTMENT CASES 225
E. TRANSNATIONAL STANDARDS AND SOFT LAW 226
F. PROFESSIONAL GUIDELINES 228
1. INTERNATIONAL BAR ASSOCIATION GUIDELINES 228
2. AMERICAN RULES 229
G. SYNTHESIZING LEGAL NORMS 231
V. THREE RECURRING PROBLEMS 233
A. TRIVIAL AND DE MINIMIS CONTACTS 233
B. SAYING TOO MUCH TOO EARLY 235
C. BARRISTERS 236
1. SHARED CHAMBERS 236
2. THE IBA GUIDELINES 237
3. COLLEGIALITY AND THE OUTSIDE ARBITRATOR 238
VI. INTELLECTUAL INTEGRITY 239
A. BABY SPLITTING 239
B. AMIABLE COMPOSITION 241
C. CREEPING LEGALISM 243
D. ARBITRATORS AND THE SEARCH FOR TRUTH 245
VII. THE OBJECT OF AN ARBITRATOR S DUTIES 246
CHAPTER 10 AMICUS CURIAE: A PANACEA FOR LEGITIMACY IN INVESTMENT
ARBITRATION? 253 NIGEL BLACKABY & CAROLINE RICHARD
I. INTRODUCTION 254
II. EVOLUTION OF AMICUS CURIAE 257
A. EVOLUTION OF AMICUS CURIAE IN DOMESTIC LEGAL SYSTEMS 257 B. EVOLUTION
OF AMICUS CURIAE IN INTERSTATE DISPUTE RESOLUTION 258
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C. EVOLUTION OF AMICUS CURIAE IN INVESTMENT TREATY ARBITRATION 259
1. WITHIN NAFTA 259
2. WITHIN ICSID 262
III. AMICUS CURIAE ALONE CANNOT CURE THE DEMOCRATIC DEFICIT AND LACK OF
TRANSPARENCY IN INVESTMENT TREATY ARBITRATION 266 A. THE ADMISSION OF
AMICUS CURIAE BRIEFS ALONE DOES NOT INCREASE TRANSPARENCY IN INVESTMENT
TREATY ARBITRATION 266
B. THE ADMISSION OF AMICUS CURIAE BRIEFS ALONE DOES NOT CURE THE
DEMOCRATIC DEFICIT IN INVESTMENT TREATY ARBITRATION 268 C. INCREASING
TRANSPARENCY AND THE LEGITIMACY OF INVESTMENT ARBITRATION AS THE SOLE
REASON FOR ADMITTING
AMICUS CURIAE BRIEFS? 270
D. PUBLIC PARTICIPATION AND THE RISK OF THE POLITICIZATION OF THE
INVESTMENT TREATY ARBITRATION 272
IV. CONCLUSION 273
CHAPTER 11 PARTICIPATION OF NON-GOVERNMENTAL ORGANIZATIONS IN INVESTMENT
ARBITRATION AS AMICI CURIAE 275
AMOKURA KAWHARU
I. INTRODUCTION 275
II. NGO PARTICIPATION IN INTERNATIONAL LAW 277
III. WHY THE RISE IN NGO INTEREST IN INVESTMENT ARBITRATION? 280 IV.
EVALUATING NGO PARTICIPATION AS AMICI CURIAE 282
A. REPRESENTATION OF AN INTEREST 283
1. ADDRESSING A LEGITIMACY DEFICIT; REPRESENTATION OF PUBLIC INTEREST
CONSIDERATIONS 283 2. REPRESENTATION OF A PRIVATE INTEREST 288
3. IMPLICATIONS REGARDING CRITERIA FOR ADMISSION OF AMICUS BRIEFS 289
B. CONTRIBUTION OF EXPERTISE 291
1. ASSISTANCE TO THE TRIBUNAL 291
2. THE ISSUE OF RELEVANCY 292
C. THE TRIBUNAL S ROLE 294
V. CONCLUSION 295
CHAPTER 12 LEGALITY OF INVESTMENTS UNDER ICSID JURISPRUDENCE 297
GABRIEL BOTTINI
I. INTRODUCTION 297
II. ILLEGAL INVESTMENTS BEFORE ICSID TRIBUNALS 301
A. INCEYSA VALLISOLETANA. S.L. V. REPUBLIC OF EL SALVADOR 301
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B. WORLD DUTY FREE V. KENYA 304
C. FRAPORT V. PHILIPPINES 307
D. PLAMA V. BULGARIA 310
III. CONCLUSION 313
CHAPTER 13 INVOKING STATE DEFENSES IN INVESTMENT TREATY ARBITRATION 315
ALEXIS MARTINEZ
I. INTRODUCTION 315
II. FORCE MAJEURE 316
III. NECESSITY 318
IV. BRIBERY/INTERNATIONAL PUBLIC POLICY 327
V. LEGITIMATE EXERCISE OF SOVEREIGNTY 331
VI. CONCLUSION 336
PARTIV INVESTMENT ARBITRATION AND ITS DISCONTENTS 339
CHAPTER 14 BACKLASH TO INVESTMENT ARBITRATION: THREE CAUSES 341
LOUIS T. WELLS
I. INTRODUCTION 341
II. FIRST CAUSE: INCONSISTENT DECISIONS 342
III. SECOND CAUSE: A RIGID VIEW OF CONTRACT 342
A. ONE-WAY IMPACT 345
IV. THIRD CAUSE: CORRUPTION AND INCOMPETENCE 347
V. REMEDYING THE CAUSES OF BACKLASH 348
A. IDEAL: MULTILATERAL AGREEMENT 348
B. APPELLATE PROCESS 349
C. SYMMETRY 350
D. MIDPOINT GUIDANCE 351
VI. CONCLUSION 351
CHAPTER 15 DENUNCIATION OF THE ICSID CONVENTION AND CONSENT TO
ARBITRATION 353 CHRISTOPH SCHREUER
I. INTRODUCTION 353
II. THE DENUNCIATION S EFFECTIVE DATE 355
III. CONSENT TO JURISDICTION UNDER THE ICSID CONVENTION 355
A. THE RECIPROCAL NATURE OF CONSENT 356
B. THE DATE OF CONSENT 361
C. THE IRREVOCABILITY OF CONSENT 362
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IV. RIGHTS OR OBLIGATIONS UNDER THE CONVENTION ARISING OUT OF CONSENT
364
V. CONSENT GIVEN BY ONE OF THEM 366
VI. CONCLUSIONS 367
CHAPTER 16 COMPETING FOR CAPITAL: THE DIFFUSION OF BILATERAL INVESTMENT
TREATIES, 1960-2000 369
ZACHARY ELKINS, ANDREW T. GUZMAN & BETH SIMMONS
I. SECURING INVESTORS LEGAL RIGHTS 371
A. FROM CUSTOMARY LAW TO BILATERAL INVESTMENT TREATIES 371 B. THE SPREAD
OF BITS 373
C. LEADERS AND FOLLOWERS IN BIT AGREEMENTS 378
II. A COMPETITIVE THEORY OF BIT DIFFUSION 381
A. BITS AS A CREDIBLE COMMITMENT 381
B. COMPETITIVE BIT SIGNINGS: LOGIC AND IMPLICATIONS 383 III. EMPIRICAL
METHODS AND DATA 386
A. ANALYTICAL DESIGN 386
B. DATA AND MEASURES 387
1. SPATIAL LAGS OF THE DEPENDENT VARIABLE: COMPETITION AND CULTURAL
EMULATION 388
IV. FINDINGS 395
V. CONCLUSION 401
CHAPTER 17 THE ARGENTINE FINANCIAL CRISIS: STATE LIABILITY UNDER BITS
AND THE LEGITIMACY OF THE ICSID SYSTEM 407
WILLIAM W. BURKE-WHITE
I. INTRODUCTION 407
II. THE ARGENTINE FINANCIAL CRISIS AND THE GOVERNMENT S RESPONSE 409
III. ARGENTINA S LEGAL ARGUMENTS FOR POLICY FLEXIBILITY IN RESPONSE TO
AN ECONOMIC CRISIS 411
IV. THE JURISPRUDENCE OF THE ICSID TRIBUNALS 415
A. THE ICSID TRIBUNALS AND NON-PRECLUDED MEASURES PROVISIONS 416
B. THE ICSID TRIBUNALS AND THE CUSTOMARY DEFENSE OF NECESSITY 421
V. THE CMS ANNULMENT COMMITTEE REPORT AND THE VIABILITY OF ICSID
ARBITRATION 425
VI. CONCLUSION 431
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CHAPTER 18 PERCEIVED BIAS IN INVESTMENT TREATY ARBITRATION 433
GUS VAN HARTEN
I. INTRODUCTION 433
II. THE UNIQUENESS OF INVESTMENT TREATY ARBITRATION 434
III. STANDARDS OF IMPARTIALITY AND INDEPENDENCE OF DOMESTIC COURTS 436
A. THE INAPPROPRIATE INFLUENCE OF APPOINTING AUTHORITIES 441 B. THE
INAPPROPRIATE INFLUENCE OF PRIVATE PARTIES 445
IV. RESPONSES TO POSSIBLE COUNTERARGUMENTS 446
V. CONCLUSION 452
CHAPTER 19 EUROPEAN LAW CHALLENGES TO INVESTMENT ARBITRATION 455
MARKUS BURGSTALLER
I. EUROPEAN LAW CHALLENGES TO INVESTMENT ARBITRATION: AN INTRODUCTION
455
II. EUROPEAN LAW CHALLENGES TO JURISDICTION: THE VALIDITY AND
APPLICABILITY OF MEMBER STATES BITS 457
III. EUROPEAN LAW CHALLENGES ON THE MERITS: THE APPLICABILITY OF EU LAW
IN INVESTMENT ARBITRATION 467
IV. EUROPEAN LAW CHALLENGES TO ENFORCEMENT: SECURING THE CORRECT
APPLICATION OF EU LAW 472
V. EUROPEAN LAW CHALLENGES TO INVESTMENT ARBITRATION: AN OUTLOOK 475
CHAPTER 20 OUT OF ORDER 483
LUKE PETERSON
I. COSTLY DISPUTES 484
II. TREATIES UNDER SCRUTINY 484
III. CLOSING THE FLOODGATES 485
IV. BALANCED MODEL 486
V. PLAYING BOTH SIDES 487
VI. A CHANGE OF NATIONALITY 488
PARTV ICSID ARBITRATION S FALL FROM GRACE: THE WAY FORWARD 489
CHAPTER 21 GLOBALIZATION: THE DRIVING FORCE IN INTERNATIONAL INVESTMENT
LAW 491 TILLMANN RUDOLF BRAUN
I. THE IMPORTANCE AND ORIGINS OF INTERNATIONAL INVESTMENT LAW 492
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II. THE LYNCHPIN OF INTERNATIONAL INVESTMENT: PROCEDURAL ENFORCEMENT
MECHANISMS AND PARTIAL SUBJECTIVITY IN INTERNATIONAL LAW FOR THE
INDIVIDUAL 495
III. NORM GENERATION AND NORM INTERPRETATION: THE INTERPLAY BETWEEN
STATE AND ARBITRAL RESPONSIBILITY 497
IV. NORM GENERATION AND THE FORMING OF INTERNATIONAL INVESTMENT LAW 501
V. THE STRUCTURE OF THE ACTORS IN INTERNATIONAL INVESTMENT LAW IN
HISTORICAL CONTEXT 502
CHAPTER 22 A DISPUTE SYSTEMS DESIGN DIAGNOSIS OF ICSID 507
ILIJA MITREV PENUSLISKI
I. II.
III.
IV.
V.
VI. VII.
INTRODUCTION DISPUTE SYSTEMS DESIGN A. PRINCIPLES B. METHODOLOGY
APPLYING DSD TO ICSID: ASSESSING FOREIGN INVESTMENT DISPUTES A. NATURE
OF FOREIGN INVESTMENT B. STAKEHOLDERS
C. NATURE OF DISPUTES APPLYING DSD TO ICSID: ASSESSING ICSID S DISPUTE
RESOLUTION PROCEDURES
A. THE ICSID MECHANISM B. ICSID IN A CRISIS? 1. ENCROACHMENT OF
REGULATORY AUTONOMY 2. IMPAIRED LEGITIMACY
3. COST AND LENGTH APPLYING DSD TO ICSID: A NEW DESIGN FOR ICSID A.
MEDIATION B. APPELLATE BODY
C. IMPROVED JUDICIAL SCRUTINY D. ARBITRATOR SELECTION AND CONDUCT
APPLYING DSD TO ICSID: IMPLEMENTATION CONCLUSIONS
507 509 509 512
515 515 516
517
518 518 520
520 522 525
526 527 529 531 532 533
535
CHAPTER 23 THE INTERNATIONAL INVESTMENT PROTECTION REGIME THROUGH THE
LENS OF ECONOMIC THEORY 537
ANNE VAN AAKEN
I. INTRODUCTION 537
II. INTERNATIONAL INVESTMENT LAW: AN OVERVIEW 538
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III. THE CONTRACT THEORY APPROACH 540
IV. A CONTRACT THEORY APPROACH TO INVESTMENT LAW 543
A. FLEXIBILITY THROUGH EXPLICIT ESCAPE CLAUSES AND EXCEPTIONS 545
B. FLEXIBILITY THROUGH VAGUE TERMS 547
V. THE INSTABILITY OF THE INVESTMENT PROTECTION REGIME 549
VI. CONCLUSION AND OUTLOOK 554
CHAPTER 24 HISTORY AIN T CHANGED : WHY INVESTOR-STATE ARBITRATION WILL
SURVIVE THE NEW REVOLUTION 555
TIMOTHY G. NELSON
I. INTRODUCTION 556
II. CONCESSION ARBITRATIONS 557
A. THE LENA GOLDFIELDS ARBITRATION 557
B. CONCESSION ARBITRATION: THE OIL CASES OF THE 1950S AND 1960S 559
1. THE GULF STATE CASES OF THE EARLY 1950S 559
2. THE ARAMCO ARBITRATION 560
3. SAPPHIRE: AN EARLY IRANIAN EXPROPRIATION 561
C. THE 1970S: THE LIBYAN NATIONALIZATION CASES 562
D. THE ICSID CONVENTION AND UNCITRAL RULES EMERGE 565 E. CONCESSION
ARBITRATION CONTINUES 566
III. CLAIMS TRIBUNAL ARBITRATIONS 567
A. EARLY CLAIMS TRIBUNALS 567
B. THE ICJ AND LIMITS ON DIPLOMATIC PROTECTION 569
C. THE IRAN-US CLAIMS TRIBUNAL 570
D. MORE RECENT CLAIMS TRIBUNALS 570
E. THE ICSID/BIT SYSTEM LINEAL: DESCENDANT OF THE CLAIMS TRIBUNALS 571
IV. BACKLASH? HISTORY AIN T CHANGED 573
CHAPTER 25 THE STATE, A PERPETUAL RESPONDENT IN INVESTMENT ARBITRATION?
SOME UNORTHODOX CONSIDERATIONS 577
MEHMET TORAL & THOMAS SCHULTZ
I. INTRODUCTION 577
II. THE STATE AS CLAIMANT IN TREATY-BASED ARBITRATION 578
A. PRIVATE PARTIES, HUMAN RIGHTS, AND INVESTMENT TREATIES 580 B. PRIVATE
PARTIES AND SUSTAINABLE DEVELOPMENT 585
C. CONCLUSION: IS THE STATE THE SOLE DEBTOR UNDER INVESTMENT TREATIES?
588
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TABLE OF CONTENTS
III. THE STATE AS CLAIMANT IN CONTRACT-BASED ARBITRATION 589
A. TANESCO V. IPTL 591
B. EAST KALIMANTAN V. KALTIM PRIMA COAL 595
C. THE STATE AS CLAIMANT IN INVESTMENT ARBITRATION: VEERING TOWARD
POLITICAL DISPUTE RESOLUTION? 600
IV. CONCLUSION 602
INDEX 603
XXI
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| genre_facet | Konferenzschrift |
| id | DE-604.BV036801838 |
| illustrated | Illustrated |
| indexdate | 2025-02-03T17:28:01Z |
| institution | BVB |
| isbn | 9789041132024 9041132023 |
| language | English |
| lccn | 2010287348 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-020718000 |
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| physical | LIV, 614 S. graph. Darst. 25 cm |
| publishDate | 2010 |
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| publisher | Wolters Kluwer Law & Business |
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| spellingShingle | The backlash against investment arbitration perceptions and reality Recht Investments, Foreign (International law) Congresses Arbitration and award, International Congresses Investments, Foreign Law and legislation Congresses Schiedsrichterliches Verfahren (DE-588)4121615-5 gnd Beilegung (DE-588)4284136-7 gnd Investitionsstreitigkeit (DE-588)4162255-8 gnd |
| subject_GND | (DE-588)4121615-5 (DE-588)4284136-7 (DE-588)4162255-8 (DE-588)1071861417 |
| title | The backlash against investment arbitration perceptions and reality |
| title_auth | The backlash against investment arbitration perceptions and reality |
| title_exact_search | The backlash against investment arbitration perceptions and reality |
| title_full | The backlash against investment arbitration perceptions and reality edited by Michael Waibel ... [et al.] |
| title_fullStr | The backlash against investment arbitration perceptions and reality edited by Michael Waibel ... [et al.] |
| title_full_unstemmed | The backlash against investment arbitration perceptions and reality edited by Michael Waibel ... [et al.] |
| title_short | The backlash against investment arbitration |
| title_sort | the backlash against investment arbitration perceptions and reality |
| title_sub | perceptions and reality |
| topic | Recht Investments, Foreign (International law) Congresses Arbitration and award, International Congresses Investments, Foreign Law and legislation Congresses Schiedsrichterliches Verfahren (DE-588)4121615-5 gnd Beilegung (DE-588)4284136-7 gnd Investitionsstreitigkeit (DE-588)4162255-8 gnd |
| topic_facet | Recht Investments, Foreign (International law) Congresses Arbitration and award, International Congresses Investments, Foreign Law and legislation Congresses Schiedsrichterliches Verfahren Beilegung Investitionsstreitigkeit Konferenzschrift |
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