Investment Treaties

Arbitral Award, Free Trade Agreements, Investment Disputes, Investment law, Investment protection, Investment Treaties, Investor-State arbitration, Latin America, Peru

(Baker McKenzie)/ /Leave a comment

Despite the good results obtained for several years in its defense from investment arbitration claims, the Republic of Peru has become one of the countries with the highest number of arbitration claims filed against it. To date, nineteen cases have concluded, and twenty-three cases are pending resolution. In December 2022, an award was issued in…

Crimea, Investment Treaties, Russia, State Succession, Territory, Ukraine, VCLT

(Independent Arbitrator)/ /Leave a comment

The year 2022 saw French and Dutch courts upholding arbitration awards which condemned Russia for breaches of the 1998 BIT between Russia and Ukraine (“Russia-Ukraine BIT”) through actions in the Crimea peninsula after its annexation in 2014. The arbitration cases in the context of which the awards were issued (the “Crimea cases”) have a common…

Interpretation, Investment Arbitration, Investment law, Investment Treaties

(University of Ottawa)/ /Leave a comment
Academic Council, Institute for Transnational Arbitration (ITA)

States have spent the last decade and a half rebalancing the design of their international investment agreements (IIAs). In their new-generation IIAs, states have clarified core protective standards, omitted controversial clauses, and inserted new carve-outs and general exceptions. These reformed treaties, it was hoped, would provide investment tribunals with “new analytical devices for adjudicating disputes…

China, EU Law, European Union, Investment, Investment agreements, Investment law, Investment protection, Investment Treaties

, , (Freshfields Bruckhaus Deringer LLP)/ /Leave a comment

The EU-China Comprehensive Agreement on Investment (CAI), agreed in principle in December 2020, was announced with great fanfare. Forged after seven years of negotiations between the world’s current largest trading block (the EU) and the country expected to have the world’s largest economy by the end of this decade (China), the CAI was set to…

Hong Kong, Investment Treaties, investor-State arbitration and mediation, ISDS, Japan

, (City University of Hong Kong)/ /Leave a comment

In March 2021, a major newspaper broke the story that a Hong Kong investor had filed what may be considered the very first investment treaty arbitration claim against Japan under the Hong-Kong Bilateral Investment Treaty (Hong Kong, China SAR – Japan BIT 1997). While it may take anywhere from a few months to a few years…

Canada, Investment agreements, Investment Treaties, ISDS Reform, Model BIT

(Woods LLP) and (Law Offices of Kiran N Gore PLLC; The George Washington University Law School)/ /Leave a comment

On May 13, 2021, after several years of public consultations, Global Affairs Canada released a new Foreign Investment Promotion and Protection Agreement Model (“2021 Model”). The prior iteration of the FIPA Model was broadly understood to have been influenced by Canada’s experience under the NAFTA regime. Similarly, the 2021 Model benefits from Canada’s continued trade…

BIT, Energy Charter Treaty, Fair and Equitable Treatment, Investment Arbitration, Investment protection, Investment Treaties, Investor-state tribunals, Legitimate Expectations

(University of Passau)/ /Leave a comment

In the early 2000s, several European states introduced generous incentive programs to attract investors to renewable energy, triggering an investment boom. In the wake of the global financial crisis of 2008, however, the incentive payments put a strain on regulators. The subsequent changes to the regulations of the renewable energy sector implemented by Spain, Italy,…

International Investment Arbitration, Investment Arbitration, Investment Disputes, Investment law, Investment protection, Investment Treaties, Investor-State arbitration, ISDS, Regional Comprehensive Economic Partnership, WTO

(National University of Singapore) and (City University of Hong Kong/ UMBRA Strategic Legal Solutions)/ /1 Comment

The Regional Comprehensive Economic Partnership (RCEP) was signed by its 15 Parties (after India, an initial negotiating party, withdrew from negotiations) on 15 November 2020.1)This article represents the authors’ personal opinions and does not represent the opinion of their respective organisations. The signature of this agreement amid the COVID-19 pandemic has made quite a headline…

Arbitration, Arbitration Agreements, Investment Arbitration, Investment law, Investment Treaties, MENA, Middle East, Multilateral Investment Treaties, United Arab Emirates

(Allen & Overy LLP)/ /Leave a comment

The announcement on 13 August 2020 of a rapprochement between Israel and the United Arab Emirates (‘UAE’) took the world by surprise. Seasoned regional observers noted quiet cooperation and cross-border transactions over the past few years, but few expected these covert relationships to burst into public view so fully and wholeheartedly. The joint declaration, soon…

International Mediation, Investment Treaties, investor-State arbitration and mediation

, , (Centre for International Law)/ /Leave a comment

Aron Broches, the chief architect of the ICSID Convention, said in 1964 that the role of conciliation in the Convention’s framework may prove to be more important than arbitration. There is little doubt that more than 50 years later, this forecast by one of international investment law’s giants has not yet become a reality. The…

International arbitration, International dispute resolution, International Mediation, Investment Arbitration, Investment Disputes, Investment law, Investment Treaties, investor-State arbitration and mediation, Mediation, Mediation and Dispute Management

(Australian National University)/ /1 Comment

In their reform discussions, States and arbitration institutions have been exploring the potential for investor-State mediation to work alongside arbitration, or even to replace it altogether for some disputes. While investor-State mediation has strengths relative to arbitration, any reform must carefully integrate mediation with existing processes and reform efforts.1)This post builds on: Esmé Shirlow, ‘The…

International Investment Arbitration, International Mediation, Investment Arbitration, Investment Disputes, Investment Treaties, investor-State arbitration and mediation, Mediation, Mediation and Dispute Management

(Australian National University)/ /1 Comment

Arbitration has undoubtedly become the dominant international procedure for settling investor-State disputes. Over the years, we have published various posts on the Blog that have considered intersections and tensions between arbitration and other, alternative, forms of investor-State dispute settlement (‘ISDS’). To mark this month’s entry into force of the Singapore Convention on Mediation, our series…

International Investment Arbitration, Investment Arbitration, Investment Treaties, ISDS, ISDS Reform, Mediation

(Waseda University), (University of Sydney & Williams Trade Law), and (University of Sydney)/ /Leave a comment

Arbitration has been the default dispute resolution mechanism in the investor-state dispute settlement (ISDS) regime for a long time. Provisions for third-party procedures other than arbitration have been relatively rare in older generation bilateral investment treaties (BITs). Even where those have provided in advance for the option of ICSID (Convention or Additional Facility) Conciliation Rules,…

foreign direct investment, Investment, Investment agreements, Investment Treaties, Japan, VCLT, WTO

(Nagoya University)/ /Leave a comment
Academic Council, Institute for Transnational Arbitration (ITA)

The years since 2017 have witnessed a global trend of tightening foreign direct investment (FDI) screening processes. Major economies, including the United States, Germany, France, the United Kingdom, and the European Union have moved towards stricter FDI rules. In all of these cases, security concerns and, in particular, the need to protect cutting-edge technologies against…

Investment agreements, Investment Treaties, Reform, State-State Dispute Settlement, State-to-state arbitration, Trade and investment agreements, Trans-Pacific Partnership, USMCA

(Australian National University) and (Law Offices of Kiran N Gore PLLC; The George Washington University Law School)/ /Leave a comment

Throughout this week, our contributors from around the globe have offered insights into the USMCA/CUSMA/T-MEC, which enters into force next week. Our contributors have contextualised USMCA against both regional and global developments. Many of them noted the link between USMCA and NAFTA, between USMCA and regional politics, and between USMCA and broader global trends related…

Investment agreements, Investment Arbitration, Investment protection, Investment Treaties, United States, USMCA

(Jenner & Block LLP)/ /Leave a comment

The Investment Chapter of the United States-Mexico-Canada Agreement “USMCA,” Chapter 14 has had a controversial trajectory.  Chapter 14 reflects a remarkable evolution in United States (“U.S.”) policy on the protection of its investors and their investments in Canada and Mexico.  It is remarkable because – from 2023 – it will limit the scope of protected…

Canada, International agreement, International arbitration, Investment agreements, Investment Arbitration, Investment protection, Investment Treaties, Mexico, NAFTA, United States, USMCA

(Law Offices of Kiran N Gore PLLC; The George Washington University Law School) and (Australian National University)/ /Leave a comment

On July 1, 2020, the United States – Mexico – Canada Agreement (USMCA) will enter into force. Although the media widely refers to the treaty by its American name, USMCA, it also carries two other names: Canada has adopted it as the Canada – United States – Mexico Agreement (CUSMA), while Mexico has settled on…

Arbitration, foreign direct investment, Investment, Investment law, Investment protection, Investment Treaties

, (D|R Arbitration & Litigation)/ /Leave a comment

On March 25, the European Commission issued a set of guidelines addressed to Member States, concerning foreign direct investment (FDI) from third countries and the protection of European critical assets. In face of the current crisis caused by the outbreak of Covid-19, the European Commission calls upon Member States to make full use of their…

Arbitration Awards, Due Diligence, Fair and Equitable Treatment, Investment Arbitration, Investment law, Investment protection, Investment Treaties

(Nyenrode Business University)/ /2 Comments

In interpreting one of the most contested investment treaty protection standards – fair and equitable treatment – arbitral tribunals have increasingly referred to the necessity for an investor to conduct a due diligence investigation before investing in a host state. Foreign investors have been required to assess not only commercial, but also general socio-political risks….

Arbitration, India, Investment agreements, Investment law, Investment Treaties, Reform

and (Columbia Law School)/ /Leave a comment

On 25 January 2020, India and Brazil signed an investment agreement  (the “India-Brazil BIT”). As an agreement that has been signed at the dawn of the new decade, it is symbolic for a few reasons. First, it is a south-south agreement between two large and growing economies. Second, it abandons investor-state arbitration in favor of…

Interim measures, Investment Arbitration, Investment Treaties, Investor, Investor-State arbitration, Provisional measures

(British Institute of International and Comparative Law (BIICL))/ /Leave a comment

As the number of investor-state disputes grows, so does the number of applications for provisional measures. The recent empirical study conducted by the British Institute of International and Comparative Law and White&Case suggests that investors were more than twice as likely to obtain positive decisions on their requests than respondent states. The study also showed that…

International Investment Arbitration, International Law, International tribunals, Investment, Investment agreements, Investment Arbitration, Investment law, Investment Treaties, ISDS, ISDS Reform, Transparency, Treaty, Treaty Interpretation, VCLT, VCLT Jubilee, Vienna Convention on the Law of Treaties

(Australian National University) and (University of Vienna)/ /Leave a comment

The growing public interest in investment treaties and investor-State dispute settlement has prompted an increasing number of States to open to public view aspects of investment treaty negotiations. During the negotiation of the Transatlantic Trade and Investment Partnership (‘TTIP’), for example, both the European Union and the United States sought to ‘maximise’ transparency in the…

Decision Making, ICSID Arbitration, International Law, Investment agreements, Investment Arbitration, Investment Treaties, VCLT, VCLT Jubilee, Vienna Convention on the Law of Treaties

(Australian National University) and (Law Offices of Kiran N Gore PLLC; The George Washington University Law School)/ /Leave a comment

The Vienna Convention on the Law of Treaties (VCLT) was adopted and opened for signature on May 23, 1969, and entered into force on January 27, 1980. In the fifty years since the VCLT was opened for signature, it has become universally regarded as one of the most important instruments of treaty law. It has…

DR-CAFTA, Dual Nationals, Investment Arbitration, Jurisdiction of the arbitral tribunal, Latin America

(GST LLP)/ /Leave a comment

It is said that states lose more times than investors in investment arbitration. Indeed, ICSID surveys reveal that while investors receive an award of costs in 41.4% of the cases, states receive a similar award of costs only in 23% of the cases, even when jurisdiction is fully declined. A case where a state prevails…