Investor-state Arbitration
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By: Borzu Sabahi, Noah Rubins, Don Wallace, Jr.
This second edition provides a fresh look at the legal framework for the protection of foreign investment. The chapters analyses some of the key issues surrounding this subject focusing on international arbitration between states and investors under bilateral investment treaties. Since the previous edition, major changes have taken place in this dynamic field. Proliferation of investment disputes and multi-billion-dollar arbitral awards have helped attract more attention to this technical field. The profound impact of the disputes and the shortcomings of the arbitration mechanism of investment treaties have also caused a global backlash, landing a spot for the reform of investor-state arbitration on the agenda of the United Nations Conference on International Trade Law. All chapters, therefore, have been revised to take into account these developments and the massive volume of jurisprudence and commentary on the subject of international investment arbitration since the first edition. The chapters carefully consider the latest theoretical approaches to foreign investment protection and the most intellectually challenging awards issued in the intervening decade, as well as the most recent practical guidance on the procedural recourse available to investors who face political risks.
AI Overview
The book "Investor-State Arbitration" is a comprehensive guide to the legal framework and procedures involved in resolving disputes between investors and states. Here is a detailed overview of the book, including key themes, plot summary, and critical reception:
Key Themes
Legal Framework for Foreign Investment:
- The book provides a fresh look at the legal framework for the protection of foreign investment, analyzing key aspects such as jurisdiction, procedural rules, and governing law.
History and Evolution:
- It covers the historical development of investor-state arbitration, including the formation of the International Center for the Settlement of Investment Disputes (ICSID) and the proliferation of bilateral investment treaties (BITs).
Procedural Rules and Practices:
- The authors examine commonly used procedural rules, tribunal composition, jurisdiction, evidence, awards, and the challenge of annulment in investor-state arbitration.
State Responsibilities and Obligations:
- The book delves into state responsibilities, including issues of attribution, circumstances precluding wrongfulness, discrimination, expropriation, and fair and equitable treatment.
Dispute Resolution Procedures:
- It outlines the course of an investment arbitration, including special procedures, applications, and motions, as well as the role of national courts in interfering with arbitration.
Plot Summary
The book is structured into several parts, each focusing on a specific aspect of investor-state arbitration:
Introduction:
- Provides an overview of the importance of international investment and the need for a new field of international law to govern it.
History and Modern System:
- Explores the historical development of investor-state arbitration and the modern system of dispute settlement.
Procedure, Evidence, and Governing Law:
- Delves into the procedural rules, evidence, and governing law in investment disputes.
Special Procedures and Motions:
- Discusses special procedures such as applications and motions in investment arbitration.
State Responsibilities and Obligations:
- Examines state responsibilities including discrimination, expropriation, and fair and equitable treatment.
Dispute Resolution Outcomes:
- Covers the outcomes of investment disputes including compensation, damages, restitution, annulment, set aside, and refusal to enforce.
Critical Reception
The book has been well-received by practitioners, academics, and students in the field of international law. It is considered an indispensable tool for those involved in investor-state arbitration, providing comprehensive coverage of the legal framework and procedural aspects of this specialized field.
Editions and Authors
The book has been published in two editions. The first edition was co-authored by Don Wallace, Jr., while the second edition includes contributions from Borzu Sabahi and Noah Rubins. The second edition builds on the successful first edition, incorporating recent developments in law and practice.
In summary, "Investor-State Arbitration" by Borzu Sabahi, Noah Rubins, and Don Wallace, Jr., is a seminal work that provides a detailed and comprehensive guide to the legal framework and procedures of investor-state arbitration. It is a valuable resource for practitioners, academics, and students in the field of international investment law.