International Investment Law and the Right to Regulate

Author: Lone Wandahl Mouyal
Publisher: Routledge
ISBN: 9781317408024
Release Date: 2016-03-10
Genre: Business & Economics

The book considers the ways in which the international investment law regime intersects with the human rights regime, and the potential for clashes between the two legal orders. Within the human rights regime states may be obligated to regulate, including a duty to adopt regulation aiming at improving social standards and conditions of living for their population. Yet, states are increasingly confronted with the consequences of such regulation in investment disputes, where investors seek to challenge regulatory interferences for example in expropriation claims. Regulatory measures may for instance interfere with the investment by imposing conditions on investors or negatively affecting the value of the investment. As a consequence, investors increasingly seek to challenge regulatory measures in international investment arbitration on the basis of a bilateral investment treaty. This book sets out the nature and the scope of the right to regulate in current international investment law. The book examines bilateral investment treaties and ICSID arbitrations looking at the indicative parameters that are granted weight in practice in expropriation claims delimiting compensable from non-compensable regulation. The book places the potential clash between the right to regulate and international investment law within a theoretical framework which describes the stability-flexibility dilemma currently inherent within international law. Lone Wandahl Mouyal goes on to set out methods which could be employed by both BIT-negotiators and adjudicators of investment disputes, allowing states to exercise their right to regulate while at the same time providing investors with legal certainty. The book serves as a valuable tool, an added perspective, for academics as well as for practitioners dealing with aspects of international investment law.

Good Faith and International Economic Law

Author: Andrew D. Mitchell
Publisher: Oxford University Press, USA
ISBN: 9780198739791
Release Date: 2015
Genre: Good faith

In international economic law, the principle of good faith has been argued and applied in a highly fragmented and disjointed way, leading to inconsistent decisions by tribunals. This book provides a comprehensive analysis of the principle and practice of good faith, and its relationship with international trade and investment.

Regulatory Autonomy in International Economic Law

Author: Andrew D. Mitchell
Publisher: Edward Elgar Publishing
ISBN: 9781785368172
Release Date: 2017-11-15
Genre:

Regulatory Autonomy in International Economic Law provides the first extensive legal analysis of Australia’s trade and investment treaties in the context of their impact on national regulatory autonomy. This thought-provoking study offers compelling lessons for not only Australia but also countries around the globe in relation to pressing current problems, including the uncertain future of the World Trade Organization and widespread concerns about the legitimacy of investor–State dispute settlement.

Analogies in International Investment Law and Arbitration

Author: Valentina Vadi
Publisher: Cambridge University Press
ISBN: 9781316473023
Release Date: 2016-01-31
Genre: Law

Although investment treaty arbitration has become the most common method for settling investor-state disputes, some scholars and practitioners have expressed concern regarding the magnitude of decision-making power allocated to investment treaty tribunals. Many of the recent arbitral awards have determined the boundary between two conflicting values: the legitimate sphere for state regulation in the pursuit of public goods, and the protection of foreign private property from state interference. Can comparative reasoning help adjudicators in interpreting and applying broad and open-ended investment treaty provisions? Can the use of analogies contribute to the current debate over the legitimacy of investor-state arbitration, facilitating the consideration of the commonweal in the same? How should comparisons be made? What are the limits of comparative approaches to investment treaty law and arbitration? This book scrutinises the impact a comparative approach can have on investment law, and identifies a method for drawing sound analogies.

Public Policy in International Economic Law

Author: Diane Desierto
Publisher: OUP Oxford
ISBN: 9780191026485
Release Date: 2015-02-19
Genre: Law

States reject inequality when they choose to ratify the International Covenant on Economic, Social and Cultural Rights (ICESCR), but to date the ICESCR has not yet figured prominently in the policy calculus behind States' international economic decisions. This book responds to the modern challenge of operationalizing the ICESCR, particularly in the context of States' decisions within international trade, finance, and investment. Differentiating between public policy mechanisms and institutional functional mandates in the international trade, finance, and investment systems, this book shows legal and policy gateways for States to feasibly translate their fundamental duties to respect, protect, and fulfil economic, social and cultural rights into their trade, finance, and investment commitments, agreements, and contracts. It approaches the problem of harmonizing social protection objectives under the ICESCR with a State's international economic treaty obligations, from the designing and interpreting international treaty texts, up to the institutional monitoring and empirical analysis of ICESCR compliance. In examining public policy options, the book takes into account around five decades of States' implementation of social protection commitments under the ICESCR; its normative evolution through the UN Committee on Economic, Social and Cultural Rights, and the Committee's expanded fact-finding and adjudicative competences under the Optional Protocol to the ICESCR; as well as the critical, dialectical, and deliberative roles of diverse functional interpretive communities within international trade, finance, and investment law. Ultimately, the book shoes how States' ICESCR commitments operate as the normative foundation of their trade, finance, and investment decisions.

Implementing International Economic Law

Author: Yusuf Aksar
Publisher: Martinus Nijhoff Publishers
ISBN: 9789004203839
Release Date: 2011-09-23
Genre: Business & Economics

Implementing International Economic Law focuses on the relationship between the rules of public international law and international economic law from the point of view of dispute settlement mechanisms. It demonstrates that the practice of international adjudicative bodies such as the WTO and the ICSID went beyond merely interpreting and applying the rules of law and became international organisations as “law-makers”. This is where the sources of international law play a crucial role.

Mega Regional Trade Agreements

Author: Thilo Rensmann
Publisher: Springer
ISBN: 9783319566634
Release Date: 2017-07-20
Genre: Law

This book provides an in-depth analysis of "Mega-Regionals", the new generation of trans-regional free-trade agreements (FTAs) currently under negotiation, and their effect on the future of international economic law. The main focus centres on the EU-US Transatlantic Trade and Investment Partnership (TTIP), the Trans-Pacific Partnership (TPP) and the EU-Canada Comprehensive Economic and Trade Agreement (CETA), but the findings are also applicable to similar agreements under negotiation, such as the Regional Comprehensive Economic Partnership (RCEP).The specific features of Mega-Regional Trade Agreements raise a number of issues with respect to their potential effect on the current system of international trade and investment law. These include the consequences of Mega-Regionals for the most-favoured-nation (MFN) principle, their relation to the multilateral system of the World Trade Organization (WTO), their democratic legitimacy and their interaction with existing bilateral investment treaties (BITs).The book is intended for academics and practitioners working in the field of international economic law.

Improving International Investment Agreements

Author: Armand De Mestral
Publisher: Routledge
ISBN: 9781136260704
Release Date: 2013-02-11
Genre: Law

This book presents the reflections of a group of researchers interested in assessing whether the law governing the promotion and protection of foreign investment reflects sound public policy. Whether it is the lack of "checks and balances" on investor rights or more broadly the lack of balance between public rights and private interests, the time is ripe for an in-depth discussions of current challenges facing the international investment law regime. Through a survey of the evolution in IIA treaty-making and an evaluation from different perspectives, the authors take stock of developments in international investment law and analyze potential solutions to some of the criticisms that plague IIAs. The book takes a multidisciplinary approach to the subject, with expert analysis from legal, political and economic scholars. The first part of the book traces the evolution of IIA treaty-making whilst the other three parts are organised around the concepts of efficiency, legitimacy and sustainability. Each contributor analyzes one or more issues related to substance, treaty negotiation, or dispute resolution, with the ultimate aim of improving IIA treaty-making in these respects. Improving International Investment Agreements will be of particular interest to students and academics in the fields of International Investment Law, International Trade Law, Business and Economics.

International Investment Law and the Environment

Author: Saverio Di Benedetto
Publisher: Edward Elgar Publishing
ISBN: 9780857936653
Release Date: 2013-10-31
Genre: Law

This book is essential reading for academics of international investment law and related matters, with useful research material for both practitioners and policy-makers. Moreover, the innovative approach of this book makes it appropriate for adoption i

The Interpretation of International Investment Law

Author: Todd Weiler
Publisher: Martinus Nijhoff Publishers
ISBN: 9789004232235
Release Date: 2013-05-02
Genre: Law

In The Interpretation of International Investment Law: Equality, Discrimination and Minimum Standards of Treatment in Historical Context, author Todd Weiler demonstrates how historiographical analysis should be adopted in the interpretation of international investment law obligations. Weiler subjects some of the most commonly held beliefs about the nature and development of international investment law to a critical re-appraisal, based upon meticulously assembled historical record. In the process, the book provides readers with a fresh perspective on some of the oldest obligations in international law.

Treaty Shopping in International Investment Law

Author: Jorun Baumgartner
Publisher: Oxford University Press
ISBN: 9780191090820
Release Date: 2016-12-01
Genre: Law

Treaty shopping, also known under the terms of nationality planning, corporate (re-)structuring or corporate maneuvering, implies a strategic change of nationality or strategic invocation of another nationality with the aim of accessing another (usually more favourable) investment treaty for purposes of investment arbitration. When deciding on whether an investment claim based on treaty shopping should be upheld or dismissed, investment arbitral tribunals have been increasingly faced with significant questions, such as: What is treaty shopping and how may legitimate nationality planning be distinguished from treaty abuse in international investment law? Should a claimant that is controlled by a host-State national be considered a protected investor, or should tribunals pierce its corporate veil? Does an investor have to make the investment in good faith, and does it have to make a contribution of its own to the investment it is claiming protection for? When does a corporate restructuring constitute an abuse of process, and which is the role of the notion of dispute in this respect? How efficient are denial of benefits clauses to counter treaty shopping? Treaty Shopping in International Investment Law examines in a systematic manner the practice of treaty shopping in international investment law and arbitral decisions that have undertaken to draw this line. While some legal approaches taken by arbitral tribunals have started to consolidate, others remain unsettled, painting a picture of an overall inconsistent jurisprudence. This is hardly surprising, given the thousands of international investment agreements that provide for the investor ́s right to sue the host State on grounds of alleged breaches of investment obligations. This book analyses and discusses the different ways by which arbitral tribunals have dealt with the value judgment at the core of the distinction between objectionable and unobjectionable treaty shopping, and makes proposals de lege ferenda on how States could reform their international investment agreements (in particular with respect to treaty drafting) in order to make them less susceptible to the practice of treaty shopping.

The BRIC States and Outward Foreign Direct Investment

Author: David Collins
Publisher: OUP Oxford
ISBN: 9780191641664
Release Date: 2013-03-14
Genre: Law

This book examines the relatively recent and under-explored phenomenon of outward foreign direct investment (FDI) from the large emerging market countries, focusing on the four BRIC states (Brazil, Russia, India, and China) and on the services sector meaning primarily telecommunications, finance, and transport. It considers the international legal framework governing FDI, discussing the nature and extent of the bilateral and regional investment treaty commitments undertaken by each of the BRIC states, including their commitments under the WTO General Agreement on Trade in Services, as well as their obligations as members of the International Monetary Fund and the World Bank. Drawing on trends observed in the regulatory approach of these countries to FDI in services, including the observed flow of FDI both to and now from the developing world, the book proposes a multilateral investment treaty aimed at the liberalization and protection of FDI in services. The treaty will capture the emerging equilibrium in global FDI patterns signifying a unified approach to the regulation of foreign investment in the growing services economy by developing and developed economies alike. The treaty will strengthen the legitimacy of investor-state dispute settlement and recognize public interest norms such as environmental protection and human rights as well as allow signatories to retain sovereignty over matters relating to national security and economic stability.

An Introduction to International Investment Law

Author: David Collins
Publisher: Cambridge University Press
ISBN: 9781316867488
Release Date: 2016-10-06
Genre: Law

This insightful and accessible introduction provides students and practitioners with a comprehensive overview of the increasingly important discipline of international investment law. Focusing primarily on the legal principles contained in the growing body of international investment agreements, this book covers the core concepts of the discipline with attention given to their relation to each other and to the manner in which they have been developed through arbitration case law. The context of each legal principle is explored along with a consideration of some of the major debates and emerging criticisms. Avoiding extensive case extracts, this book adopts an engaging and succinct narrative style which allows readers to advance their understanding of the topic while examining the legal principles with academic rigour and discerning commentary.