Pub Date : 2023-01-27DOI: 10.1093/icsidreview/siac027
Caroline Henckels
This article argues that legal certainty provides the most compelling justification for recognizing legitimate expectations in international investment law, and that the prohibition on arbitrary conduct provides the most persuasive reason for their protection. After considering other rationales for recognizing legitimate expectations, the article analyses the types of government action typically arising in investment cases through the lens of legal certainty, arguing that the strength of the claim for recognizing legitimate expectations depends on the government conduct at issue, with interference with legal rights or formal decisions generating the strongest claim for recognition, and changes to laws generating the weakest claim. The article discusses the prohibition on arbitrary conduct as the relevant touchstone for protecting legitimate expectations, demonstrates that this interpretation accords with recent treaty innovations, and explains how the expected degree of legal certainty correlates with the risk of arbitrariness in relation to different types of government conduct.
{"title":"Justifying the Protection of Legitimate Expectations in International Investment Law: Legal Certainty and Arbitrary Conduct","authors":"Caroline Henckels","doi":"10.1093/icsidreview/siac027","DOIUrl":"https://doi.org/10.1093/icsidreview/siac027","url":null,"abstract":"\u0000 This article argues that legal certainty provides the most compelling justification for recognizing legitimate expectations in international investment law, and that the prohibition on arbitrary conduct provides the most persuasive reason for their protection. After considering other rationales for recognizing legitimate expectations, the article analyses the types of government action typically arising in investment cases through the lens of legal certainty, arguing that the strength of the claim for recognizing legitimate expectations depends on the government conduct at issue, with interference with legal rights or formal decisions generating the strongest claim for recognition, and changes to laws generating the weakest claim. The article discusses the prohibition on arbitrary conduct as the relevant touchstone for protecting legitimate expectations, demonstrates that this interpretation accords with recent treaty innovations, and explains how the expected degree of legal certainty correlates with the risk of arbitrariness in relation to different types of government conduct.","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2023-01-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86874469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-18DOI: 10.1093/icsidreview/siac032
Niccolò Zugliani
Journal Article Balancing the Protection of Foreign Investors and States Responses in the Post-Pandemic World Get access Yulia Levashovaand Pascale Accaoui Lorfing (eds), Balancing the Protection of Foreign Investors and States Responses in the Post-Pandemic World ( Kluwer Law International 2022), ISBN: 978 94 035 3370 4, €188.00 Niccolò Zugliani Niccolò Zugliani https://orcid.org/0000-0002-4336-9823 Search for other works by this author on: Oxford Academic Google Scholar ICSID Review - Foreign Investment Law Journal, Volume 38, Issue 1, Winter 2023, Pages 243–249, https://doi.org/10.1093/icsidreview/siac032 Published: 18 January 2023 Article history Received: 06 December 2022 Editorial decision: 14 December 2022 Accepted: 15 December 2022 Corrected and typeset: 18 January 2023 Published: 18 January 2023
期刊文章《在大流行后的世界中平衡外国投资者的保护和国家的反应》获取Yulia levashovand Pascale Accaoui Lorfing(编辑)，《在大流行后的世界中平衡外国投资者的保护和国家的反应》(Kluwer Law International 2022)， ISBN: 978 94 035 3370 4，€188.00 Niccolò Zugliani Niccolò Zugliani https://orcid.org/0000-0002-4336-9823牛津学术谷歌学者ICSID评论-外国投资法杂志，38卷，第1期，2023年冬季，243-249页，https://doi.org/10.1093/icsidreview/siac032出版:2023年1月18日文章历史收稿:2022年12月6日编辑决定:2022年12月14日接收:2022年12月15日校正排版:2023年1月18日出版:2023年1月18日
{"title":"Balancing the Protection of Foreign Investors and States Responses in the Post-Pandemic World","authors":"Niccolò Zugliani","doi":"10.1093/icsidreview/siac032","DOIUrl":"https://doi.org/10.1093/icsidreview/siac032","url":null,"abstract":"Journal Article Balancing the Protection of Foreign Investors and States Responses in the Post-Pandemic World Get access Yulia Levashovaand Pascale Accaoui Lorfing (eds), Balancing the Protection of Foreign Investors and States Responses in the Post-Pandemic World ( Kluwer Law International 2022), ISBN: 978 94 035 3370 4, €188.00 Niccolò Zugliani Niccolò Zugliani https://orcid.org/0000-0002-4336-9823 Search for other works by this author on: Oxford Academic Google Scholar ICSID Review - Foreign Investment Law Journal, Volume 38, Issue 1, Winter 2023, Pages 243–249, https://doi.org/10.1093/icsidreview/siac032 Published: 18 January 2023 Article history Received: 06 December 2022 Editorial decision: 14 December 2022 Accepted: 15 December 2022 Corrected and typeset: 18 January 2023 Published: 18 January 2023","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135435639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-06DOI: 10.1093/icsidreview/siac023
Raphael Ren
The recent surge of arbitral awards forging new paths in the less-explored frontier of jurisdiction ratione temporis is laudable. Yet, if left unchecked, the trajectory of jurisdictional barriers expanding in depth and difficulty threatens to shrink the road of arbitration to the eye of a needle. Two emerging rules are especially worrisome: first, the right to claim under BITs vests exclusively with the investor holding the investment at the date of breach; second, the right is extinguished upon disposal of the investment. Concomitantly, once a pre-existing foreign investment is impaired by State measures, a temporal twilight zone is formed between the date of breach and date of institution of arbitration. The right to claim risks vanishing into a legal black hole along with the investment. Impecunious investors are left with a binary choice: litigate or mitigate. Ultimately, the broader lesson is for investment tribunals to avoid two common missteps when examining temporal objections: overreach of jurisdiction ratione temporis into areas more appropriately covered by the other jurisdictional dimensions (ratione materiae and ratione personae) and doctrine of abuse of process; and overreliance on principles transposed from private commercial arbitration (succession and separability).
{"title":"Vanishing Treaty Claims: Investors Trapped in a Temporal Twilight Zone","authors":"Raphael Ren","doi":"10.1093/icsidreview/siac023","DOIUrl":"https://doi.org/10.1093/icsidreview/siac023","url":null,"abstract":"\u0000 The recent surge of arbitral awards forging new paths in the less-explored frontier of jurisdiction ratione temporis is laudable. Yet, if left unchecked, the trajectory of jurisdictional barriers expanding in depth and difficulty threatens to shrink the road of arbitration to the eye of a needle. Two emerging rules are especially worrisome: first, the right to claim under BITs vests exclusively with the investor holding the investment at the date of breach; second, the right is extinguished upon disposal of the investment. Concomitantly, once a pre-existing foreign investment is impaired by State measures, a temporal twilight zone is formed between the date of breach and date of institution of arbitration. The right to claim risks vanishing into a legal black hole along with the investment. Impecunious investors are left with a binary choice: litigate or mitigate. Ultimately, the broader lesson is for investment tribunals to avoid two common missteps when examining temporal objections: overreach of jurisdiction ratione temporis into areas more appropriately covered by the other jurisdictional dimensions (ratione materiae and ratione personae) and doctrine of abuse of process; and overreliance on principles transposed from private commercial arbitration (succession and separability).","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88464539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-26DOI: 10.1093/icsidreview/siac020
R. Garden
{"title":"Eco Oro v Colombia:The Brave New World of Environmental Exceptions","authors":"R. Garden","doi":"10.1093/icsidreview/siac020","DOIUrl":"https://doi.org/10.1093/icsidreview/siac020","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75097725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-05DOI: 10.1093/icsidreview/siac018
Laura Peters, Sebastian Wuschka
With the United Kingdom’s withdrawal from the EU, in particular from its internal market, the customs union and all of the EU’s international agreements, a new chapter in Europe’s legal, economic and political history has begun. This note sets out the consequences of Brexit for investment protection and arbitration, focusing on EU-UK investment relations. In a first step, it addresses the EU-UK Trade and Cooperation Agreement’s investment protection provisions and its unique dispute settlement mechanism before turning to the fate of the United Kingdom’s bilateral investment treaties with EU Member States as well as the Energy Charter Treaty. Even though these investment treaties are likely to remain in force, the article concludes that, from the point of view of EU investors in the UK and UK investors in the EU, it can overall be seen as a clear omission that the Trade and Cooperation Agreement does not regulate investment protection in a comprehensive manner. The current situation leaves significant gaps in treaty protection, especially for investments from and into the Western EU Member States.
{"title":"Investment Protection in Post-Brexit EU–UK Relations","authors":"Laura Peters, Sebastian Wuschka","doi":"10.1093/icsidreview/siac018","DOIUrl":"https://doi.org/10.1093/icsidreview/siac018","url":null,"abstract":"\u0000 With the United Kingdom’s withdrawal from the EU, in particular from its internal market, the customs union and all of the EU’s international agreements, a new chapter in Europe’s legal, economic and political history has begun. This note sets out the consequences of Brexit for investment protection and arbitration, focusing on EU-UK investment relations. In a first step, it addresses the EU-UK Trade and Cooperation Agreement’s investment protection provisions and its unique dispute settlement mechanism before turning to the fate of the United Kingdom’s bilateral investment treaties with EU Member States as well as the Energy Charter Treaty. Even though these investment treaties are likely to remain in force, the article concludes that, from the point of view of EU investors in the UK and UK investors in the EU, it can overall be seen as a clear omission that the Trade and Cooperation Agreement does not regulate investment protection in a comprehensive manner. The current situation leaves significant gaps in treaty protection, especially for investments from and into the Western EU Member States.","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82346079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-04DOI: 10.1093/icsidreview/siac019
M. Benedettelli
{"title":"Determining the Applicable Law in Commercial and Investment Arbitration: Two Intertwined Road Maps for Conflicts-Solving","authors":"M. Benedettelli","doi":"10.1093/icsidreview/siac019","DOIUrl":"https://doi.org/10.1093/icsidreview/siac019","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84555788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-20DOI: 10.1093/icsidreview/siac012
Aniruddha Rajput
{"title":"Non-Compliance with Investment Arbitration Awards and State Responsibility","authors":"Aniruddha Rajput","doi":"10.1093/icsidreview/siac012","DOIUrl":"https://doi.org/10.1093/icsidreview/siac012","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76051325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-08DOI: 10.1093/icsidreview/siab043
Csaba Kovács
{"title":"Staur Eiendom AS and others v Latvia From Warsaw to Riga: The Role of Exceptional Circumstances in the Attribution of the Conduct of State Enterprises to the State under the ILC Articles","authors":"Csaba Kovács","doi":"10.1093/icsidreview/siab043","DOIUrl":"https://doi.org/10.1093/icsidreview/siab043","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138514681","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-03DOI: 10.1093/icsidreview/siab046
Giuliana Lampo,Gustavo Minervini
{"title":"Michael Anthony Lee-Chin v Dominican Republic: Interpreting the Consent to Arbitrate in the CARICOM–DR FTA","authors":"Giuliana Lampo,Gustavo Minervini","doi":"10.1093/icsidreview/siab046","DOIUrl":"https://doi.org/10.1093/icsidreview/siab046","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138514702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-03DOI: 10.1093/icsidreview/siab046
Giuliana Lampo,Gustavo Minervini
{"title":"Michael Anthony Lee-Chin v Dominican Republic: Interpreting the Consent to Arbitrate in the CARICOM–DR FTA","authors":"Giuliana Lampo,Gustavo Minervini","doi":"10.1093/icsidreview/siab046","DOIUrl":"https://doi.org/10.1093/icsidreview/siab046","url":null,"abstract":"","PeriodicalId":44986,"journal":{"name":"Icsid Review-Foreign Investment Law Journal","volume":null,"pages":null},"PeriodicalIF":1.1,"publicationDate":"2022-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138514683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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