Bilateral investment treaties (BITs) have been used as a powerful asset in attracting foreign capital for the benefit of the host state, while ensuring a favourable and predictable investment environment for investors venturing abroad. The more than 2700 BITs currently in force – comprising 56...

Based on the analysis of the case of the Hungarian oil and gas firm MOL, target of a hostile takeover bid first by Austria’s OMV (2007), then by Russia’s Surgutneftegaz (2009), this essay attempts to show how such hostile takeover bids in an industry (energy) deemed strategic by the host...