Domestic Courts, Domestic law, International Investment Arbitration, International Investment Law, Judicial intervention, Legitimate Expectations
When Constitutional Courts Breach International Investment Law: Could the Telefónica v. Colombia ICSID Award Induce Judicial Chill?
On 12 November 2024, an ICSID tribunal rendered its award in the case of Telefónica S.A. v. Republic of Colombia. At its heart, the case concerns the protection of foreign investors’ legitimate expectations under a bilateral investment treaty (“BIT”), and, more unusually, the international legal consequences of a decision by a national constitutional court affirming…