International Investment Law: Reconciling Policy and Principle by Surya P. Subed

The Nile on eBay   International Investment Law by Surya P. Subedi, Surya P. Subedi, KC

'...This book […] goes beyond stating what the law is and focuses on controversies occurring within this area of the law... an excellent introduction to this complex area of international law for newcomers to the subject' Kate Miles, Australian International Law JournalThe updated edition of this acclaimed book offers a critical overview of the law of foreign investment, incorporating a thorough analysis of the principles and standards of treatment available to foreign investors in international law. It is authoritative and multi-layered, offering an analysis of the key issues and an insightful assessment of recent trends in the case law, from both developed and developing country perspectives.A major feature of the book is that it deals with the tension between the law of foreign investment and other competing principles of international law. In doing so, it proposes ways of achieving a balance between these principles and the need to protect the legitimate rights and expectations of foreign investors on the one hand, and the need not to restrict unduly the right of host governments to implement their public policy on the other, including the protection of the environment and human rights, and the promotion of social and economic justice within the host country.Many of the pioneering ideas that were advanced in the first edition of this book have been taken up by governments and international organisations in their attempts to reform the investor-State dispute settlement mechanism and strike a balance between different competing principles in developing international investment law. Accordingly, this fifth edition captures the essence of the ongoing multiple reform processes – either planned or envisaged – currently underway.

FORMATPaperback CONDITIONBrand New Author Biography

Surya P Subedi OBE, KC, DCL is Professor of International Law at the University of Leeds and barrister at Three Stone Chambers, Lincoln's Inn, UK.

Table of Contents

Introduction1. International Investment Law in a Changing WorldIntroductionA New Turn in International Investment LawReform of the Investor-State Dispute Settlement MechanismPublic View on the Investor-State Dispute Settlement MechanismChanging State PracticeThe Investor-State Dispute Settlement Mechanism at a Cross RoadsThe Impact of Change in State PracticeAttempts to Reconcile Competing PrinciplesThe Inherent Weaknesses of International Investment LawIndications for the FutureConclusionsSuggestions for further reading2. Evolution of International Investment LawIntroductionThe Early YearsNational Treatment versus International Minimum StandardThe Era of Gunboat DiplomacyDiplomatic Protection and the Treatment of Aliens in International LawThe Calvo DoctrineThe Hull FormulaConclusionSuggestions for further reading3. International Efforts to Regulate Foreign InvestmentIntroductionThe Havana Charter of 1948The UN Declaration on Permanent Sovereignty Over Natural ResourcesAttempts to Develop the Law Through the New International Economic OrderThe 1974 Charter of Economic Rights and Duties of StatesThe UN Draft Code of Conduct for Transnational CorporationsAn Appraisal of the Eff orts Made in the UNThe Role of the World BankInternational Convention on the Settlement of Investment DisputesA 'Silent Revolution' in International Law?The Multilateral Investment Guarantee AgencyThe 1992 Guidelines of the World BankThe WTO Agreements and Foreign InvestmentThe OECD Guidelines and the Multilateral Agreement on InvestmentThe 2011 OECD GuidelinesThe International Labour Organization's GuidelinesOther Voluntary SchemesAn Inconclusive End to the Twentieth Century in Foreign Investment RegulationThe Eff orts Made at the Dawn of the Twenty-First CenturyThe UN Commission and Council on Human RightsTowards a Binding Instrument on Multinational Enterprises and Human RightsAnti-Corruption ConventionsA New Transparency Convention on Investor-State Investment ArbitrationInternational Bar Association Guidelines on Conflicts of InterestInvestment Arbitration Resolution of the Institut de Droit InternationalThe World Economic Forum in Davos and Investment PolicyThe Shift in Emphasis on the Need for an International AgreementConclusionsSuggestions for further reading4. Protection of Foreign Investment in Customary International LawIntroductionProtection under International Law and Domestic LawThe Fundamental Principles of Foreign Investment ProtectionThe Objectives of the PrinciplesDefinition of Investor and InvestmentFair and Equitable Treatment in Customary International LawFull Protection and SecurityMost-Favoured-Nation TreatmentNational TreatmentProtection against Expropriation in Customary International LawThe Standards of Compensation in Customary International LawAccess to International ArbitrationConclusionSuggestions for further reading5. Protection of Foreign Investment Through Bilateral Investment TreatiesIntroductionThe Origins of Bilateral Investment TreatiesThe Content of Bilateral Investment TreatiesThe Significance of Bilateral Investment TreatiesBilateral Investment Treaties for the Promotion of Foreign InvestmentGreater Standard of Protection under Bilateral Investment TreatiesBilateral Investment Treaties as Insurance against Political RisksBilateral Investment Treaties as a Tool for Globalisation, Economic Liberalisation and PrivatisationMechanism to Expand International Standards and to Codify the Lex SpecialisEffect of Bilateral Investment Treaty Provisions as Obligations Erga Omnes?Decentralisation of the Law of Foreign InvestmentLimiting the Freedom of Action of StatesOutlining the Conditions for ExpropriationDeviations from the Hull FormulaExhaustion of Local RemediesInvestor-State Dispute Settlement MechanismLatin American Volte-FaceUS Volte-FaceAcceptance of a Wider Definition of InvestmentLike CircumstancesPre-Establishment RightsDefinition of the Applicable LawTime Limitations of a ClaimContractual Character of Bilateral Investment TreatiesProtection under Stabilisation Clauses in Investment or State ContractsProtection under The Umbrella ClauseProtection under Regional Trade and Investment TreatiesProtection under Free Trade Agreements and Model Bilateral Investment TreatiesThe Changing Character of Bilateral Investment TreatiesConclusionSuggestions for further reading6. Fleshing Out the Principles Through JurisprudenceIntroductionFleshing Out the Principles of Foreign Investment LawDefinition of InvestmentStandard Claims by Foreign InvestorsDefinition of ExpropriationThe Right to ExpropriateDirect and Indirect ExpropriationDetermination of the Nature and Amount of CompensationThe Rights of ShareholdersExhaustion of Local RemediesExtension of the Frontiers of the Law of Foreign InvestmentThe Trend in Creative Interpretation of the LawControversy Raised by InconsistencyThe Trend Towards Extensive ProtectionFrom International Minimum to Maximum Standard of TreatmentJurisprudence on Regulatory ExpropriationModification of Customary International Law?Extension of Bilateral Investment Treaty Protection to Contractual UndertakingsExtension of the Most-Favoured-Nation Clause to Establish JurisdictionConclusionSuggestions for further reading7. Current Issues in International Investment LawIntroductionThe Law at a CrossroadsAbsence of Guidelines on the Standard of CompensationThe Impact of Cross-Fertilisation of Competing PrinciplesProblems Posed by the Expansive or Creative Trend in InterpretationThe Notion of 'Police Powers' of States and Regulatory ExpropriationLegitimate Expectations of Foreign Investors and the Regulatory Powers of StatesRegulatory Measures to Protect the EnvironmentRegulatory Measures to Protect Human RightsRegulatory Measures in Pursuance of Social and Economic ObjectivesRegulatory Powers and the Protection under Investment or State ContractsCatch-All Interpretation of the Principle of Fair and Equitable TreatmentThe Extent of Protection under the Most-Favoured-Nation ClausePublic Disputes and Private TribunalsDifficulty in Application of Domestic Law by International TribunalsMultiplication of Proceedings and Investment TribunalsThe Trend in Treaty-Shopping, Forum-Shopping and Nationality-ShoppingReverse Discrimination between Domestic and Foreign InvestorsAnti-Corruption Law and Investment DisputesThe Institution of Exceptions and the Law of Foreign InvestmentStates Seeking to Restrain Tribunals Rather than vice versaThe Principle of Tabula Rasa and Investment Treaties and ContractsThe Notion of International Public Policy and Investment ProtectionThe Doctrine of Necessity in International Investment LawThe Notion of Force Majeure in Foreign Investment LawResource Nationalism and the Revival of the Calvo DoctrineThe Attempt to Seek Protection against Commercial RisksThe Investor-State Dispute Settlement MechanismStabilisation and Umbrella ClausesConclusionsSuggestions for further reading8. Addressing Current Challenges in International Investment LawIntroductionA Global Comprehensive Treaty on Foreign InvestmentA Global Model TreatyA Set of Interpretative Statements or Draft Articles by the International Law CommissionBalanced Free Trade Agreements and Bilateral Investment TreatiesEnhancing the Balancing Role of Investment Tribunals and CourtsCreating an Appeal Mechanism against Arbitral AwardsCreation of an International Investment CourtSettlement of Investment Disputes by the WTO DSBRevision of Investment ContractsRevision of Bilateral Investment Treaties Through a ProtocolRevision of ICSID, UNCITRAL and Other Arbitration RulesAccess for Victims to International Courts and TribunalsDefining the Standard or Conditions of CompensationDefining the Limits of the Amount of CompensationProvision for Remedies Other than Monetary CompensationDiscouraging 'Cherry-Picking' in the Application of RulesNational Investment CourtsDefining Responsibilties of Foreign InvestorsAlternative Dispute Settlement Mechanisms and an Independent OmbudsmanEnabling Governments to Sue CompaniesEnabling Civil Society Organisations and Individuals to Sue Foreign InvestorsRecalibrating the Interpretative Authority of GovernmentsUse of General Exceptions to Protect the Policy Space of StatesGreater Protection Through National LawNational Arbitration as Opposed to International ArbitrationNational Commercial Courts or Hybrid CourtsOther National Dispute Avoidance and Dispute Settlement MechanismsProtection of Foreign Investment by Promoting Human RightsRequirement to Exhaust Domestic RemediesConclusionsSuggestions for further readingConcluding ObservationsInternational Investment Law: Past, Present and FutureConvergence of ViewsChange in State PracticeThe Future Direction

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Critical and up-to-date analysis of the principles of international investment law with a series of actionable policy recommendations to governments and international organisations.

Details ISBN1509975195 Format Paperback Author Surya P. Subedi, KC Publisher Bloomsbury Publishing PLC Edition Description 5th edition Year 2024 Edition 5th ISBN-13 9781509975198 Publication Date 2024-03-21 Imprint Hart Publishing Subtitle Reconciling Policy and Principle Place of Publication Oxford Country of Publication United Kingdom Audience Professional & Vocational UK Release Date 2024-03-21 ISBN-10 1509975195 DEWEY 346.092 Pages 392 AU Release Date 2024-05-29 We've got this

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