ICSID Arbitration, ILC Articles on State Responsibility, Investment, Investment Arbitration, Investment protection, Investor, Moral Damages
Making a Muddle of Moral Damages
Let’s get this straight: When awarded to persons, including foreign investors, moral damages are compensatory in nature. They are not discretionary. They are not symbolic. They are not exemplary. They are not punitive. Rather, as the commentary to the ILC Draft Articles 36 and 37 on State Responsibility notes, “[c]ompensable personal injury encompasses not only…