An Overview of the First Draft of the Multilateral Instrument on ISDS Reform
Since 2019, a multilateral instrument on investor-State dispute settlement (“ISDS”) reform (“MIIR”) has been under discussion by UNCITRAL Working Group III (“WGIII”) as a potential mechanism for implementing a suite of reforms to ISDS. The MIIR is envisaged to serve as the framework by which States may apply various innovative features in their investment disputes….