Despite the non-binding nature of investment arbitration decisions beyond the circle of disputing-parties, arbitration … tribunals rely on earlier decisions ‘whenever they can'. However, arbitration practice shows that opinions diverge when it comes … to deciding how much influence those earlier arbitration decisions should exert. These diverging opinions result from …

Arbitrators in investment treaty arbitration have not been reluctant to express their views on the access to … international arbitration, provided for in dispute settlement clauses in investment treaties, as forming a part of substantive … arbitration as a substantive right of investors amounts to law-making, effected by requalifying procedural rules as substantive …