The treaty-based regime of investment protection is said to protect the property rights of foreign investors. Arbitral tribunals are usually tasked with settling investment disputes using principles of international law, some of which refer to the doctrine of protection of aliens. These features...

This chapter argues that the concept of ‘legitimate expectations', as interpreted in international investment arbitration, poses challenges for the state while enacting public policy. A state may need to drastically change its legal framework when responding to human rights considerations,...

The fair and equitable treatment (FET) standard has long been considered an indispensable part of international investment protection agreements and is often invoked in investor-state arbitration (ISA). Particularly after the North American Free Trade Agreement (NAFTA) came into effect in 1994,...