States can defend themselves in cases alleging that they have violated investment treaty obligations on the grounds that situations of economic crisis required that they take emergency action. Likely defenses are the customary international law doctrines of necessity and force majeure, although...

Although the Supreme Court has over the last decade generated a robust body of arbitration caselaw, its first decision in the area of investment arbitration under a Bilateral Investment Treaty was only handed down in 2014. BG Group v. Argentina was widely anticipated and has attracted much...

The 2009/2010 edition of Investment Yearbook addresses such issues as investment flows, trends in international investment agreements, treaty-based arbitration cases, the procedural side, and ICSID.The edition includes articles by Persephone Economou and Karl P. Sauvant; Peter Muchlinski; Ian A....

The recovery of world investment flows will depend substantially on how the world economy will perform in 2011 and beyond, on how MNEs perceive the risks of investing abroad and on how the regulatory environment for foreign investment evolves. Thus, finding the proper balance between protecting...

NAFTA Chapter Eleven contains a waiver of the customary international law requirement that disputing investors exhaust local remedies available to them prior to filing an international claim. Or does it? The provision in NAFTA that arguably waives the local remedies rule itself requires a waiver...

French Abstract: En octobre 2015, l'Union européenne [UE] a inauguré sa stratégie de libre-échange Le commerce pour tous qui spécifiait que la Commission européenne inclurait dorénavant dans ses accords commerciaux modernisés un « système juridictionnel public des investissements »...

Decisions by arbitral tribunals in investment treaty cases do not have formal precedential status. Yet certain issues recur, and prior decisions at the least provide guidance to later tribunals. The content of the most frequently invoked substantive treaty provisions - the obligations to accord...

Parties to an ICSID arbitration are able to seek annulment of an award rendered under the ICSID Convention, but are not able to appeal the merits of the award. This control mechanism was adopted after careful consideration and negotiation as a way to monitor the integrity of ICSID Convention...