The International Centre for Settlement of Investment Disputes is an intergovernmental organisation at the core of the system of investor-state dispute settlement (ISDS). ICSID is busier than ever with the number of cases pending at its historical maximum. However, the legitimacy of the system...

The UK has made major contributions to the development of investor-state dispute settlement from 1920-2020. This essay shows that the UK contributed in three ways (1) law-making, both before and after the launch of its investment treaty programme in the early 1970s; (2) dispute settlement –...

The paper advances the paradoxical thesis that international investment law is developing towards a multilateral system of investment protection on the basis of bilateral treaties. Despite the infinite fragmentation of substantive investment law, coupled with arbitration as a decentralized...

This article focuses on fragmentation within international investment law. The problem of fragmentation acquires real significance when investor-State tribunals exceed the scope of their jurisdiction, when they reach conflicting outcomes on the merits of similar disputes, or when the relevant...

This paper investigates the effect of arbitral proceedings on bilateral portfolio equity investments in emerging markets. Investment disputes may deter foreign investors as they reveal a government’s poor behavior towards foreign investors. The analysis investigates the effects of the first...

International trade and investment agreements are problematic from a participatory rights perspective because they are typically negotiated without adequate opportunities for participation of the public. Such agreements provide for disputes concerning public policy to be decided by private...

This article examines the consequences of the Court of Justice of the European Union’s (CJEU) ruling in Achmea concerning Investor-State Arbitration (ISA) under intra-EU Bilateral Investment Treaties (BITs) from a treaty law perspective. It begins by briefly setting out the arguments of...