International investment law for the 21st century: essays in honour of Christoph Schreuer
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| Format: | Book |
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| Language: | English |
| Published: |
Oxford [u.a.]
Oxford Univ. Press
2009
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| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references (p. 917-954) and index |
| Physical Description: | LXVI, 970 S. Ill., graph. Darst. |
| ISBN: | 9780199571345 0199571341 |
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| 245 | 1 | 0 | |a International investment law for the 21st century |b essays in honour of Christoph Schreuer |c ed. by Christina Binder ... |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Oxford [u.a.] |b Oxford Univ. Press |c 2009 | |
| 300 | |a LXVI, 970 S. |b Ill., graph. Darst. | ||
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| 500 | |a Includes bibliographical references (p. 917-954) and index | ||
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| adam_text | Titel: International investment law for the 21st century
Autor: Binder, Christina
Jahr: 2009
SUMMARY CONTENTS
List of Contributors xxviii
Table of Cases xxxvii
Table of Treaties lvii
PART I INTRODUCTION
1. Christoph Schreuer: An Appreciation 3
Sir Elihu Lauterpacht
2. A Tribute to Christoph Schreuer 4
Hanspeter Neuhold
PART II JURISDICTION
3. Most Favoured Nation Clauses and Jurisdictional Clauses
in Investment Treaty Arbitration 9
Guido Santiago Tawil
4. MFN Clauses and Dispute Resolution in Investment Treaties:
Have We Reached the End of the Road? 31
Kaj Hober
5. Investments in the Territory of the Host State 42
Christina Knahr
6. Consent and Due Process in Multiparty Investor-State Arbitrations 54
Carolyn B. Lamm, Hansel T. Pham, and Alexandra K. Meise Bay
7. Jurisdiction, Competence, and Admissibility of Claims in ICSID
Arbitration Proceedings 76
Gerold Zeiler
8. Bridging the Contract/Treaty Divide 92
Anthony Sinclair
9. Monitoring of Domestic Courts in BIT Arbitrations:
A Brief Inventory of Some Issues 105
Christoph Liebscher
PART III PROCEDURE
10. Arbitrator Independence in ICSID Arbitration 131
Audley Sheppard
11. Provisional Measures in Recent ICSID Proceedings:
What Parties Request and What Tribunals Order 157
Loretta Malintoppi
12. Inherent Powers of National and International Courts:
The Practice of the Iran-US Claims Tribunal 185
Friedl Weiss
13. ICSID Annulment Decisions: Three Generations Revisited 200
Irmgard Marboe
14. The Scope of ICSID Review: Remarks on Selected Problematic
Issues of ICSID Decisions 221
leva Kalnina andDomenico Di Pietro
15. On the Denunciation of the ICSID Convention, Consent
to ICSID Jurisdiction, and the Limits of the Contract Analogy 251
Oscar M. Garibaldi
16. Denouncing ICSID 278
Keyvan Rastegar
17. State Immunity and the Enforcement of Investor-State Arbitral Awards 302
Andrea K. Bjorklund
18. Enforcement of ICSID Awards: Articles 53 and 54 of the ICSID
Convention 322
StanimirA. Alexandrov
PART IV INVESTMENT ARBITRATION AND OTHER
FORMS OF INVESTMENT PROTECTION
19. The Diplomatic Protection of Foreign Investors: A Tale of Judicial Caution 341
Peter Muchlinski
20. Claims of Shareholders in International Investment Law 363
Abby Cohen Smutny
21. Chancellor Wirth and the Mologales Concession 1923-1927:
The German-Speaking Origins of the 1965 ICSID Convention 377
V.V. Veeder
PART V SUBSTANTIVE INVESTMENT LAW
22. Identify or Define? Reflections on the Evolution of the Concept
of Investment in ICSID Practice 403
Emmanuel Gaillard
23. Local Remedies and the Standards for the Protection of
Foreign Investment a -j
Ursula Kriebaum
24. Premature Treaty Claims 4^3
Ole Spiermann
25. Do Umbrella Clauses Apply to Unilateral Undertakings? 490 J
Maria Cristina Griton Salias j
Vlf 1
26. BIT by BIT: The Silent Liberalization of the Capital Account 497
Michael Waibel
27. The United States 2004 Model Bilateral Investment Treaty
and Denial of Justice in International Law 519
Stephen M. Schwebel
PART VI REGIONAL ASPECTS OF
INVESTMENT PROTECTION
28. The Canadian Approach to Investment Protection:
How Far We Have Come! 525
L. Yves Fortier
29. Conflict of Norms Stemming from Intra-EU BITs and EU Legal
Obligations: Some Remarks on Possible Solutions 544
Marek Wierzbowski andAleksander Gubrynowicz
30. Investment Rules in Regional Integration Agreements in
Latin America: The Case of the Andean Pact/Andean Community 561
Waldemar Hummer
PART VII INVESTMENT LAW AND OTHER FIELDS
31. The Provisional Application of the Energy Charter Treaty 593
Gerhard Hafner
32. Changed Circumstances in Investment Law: Interfaces between the
Law of Treaties and the Law of State Responsibility with a Special
Focus on the Argentine Crisis 608
Christina Binder
33. The Economic Emergency Defence in Bilateral Investment Treaties:
A Development Perspective 631
AsifH. Qureshi
34. The European Court of Human Rights and Investment Protection 636
Christian Tomuschat
35. Recent Case Law on the Protection of Property in the European
Convention on Human Rights 657
Luzius Wildhaber and Isabelle Wildhaber
36. Harmonizing Investment Protection and International Human Rights:
First Steps towards a Methodology 678
Bruno Simma and Theodore Kill
37. Joint Tortfeasors in Investment Law 708
; Stephan Wittich
I 38. Interpreting Investment Treaties: Experiences and Examples 724
[ Thomas W. Wdlde
39. Commercial Arbitration and Investment Arbitration:
Fertile Soil for False Friends? 782
Giuditta Cordero Moss
PART VIII THE FUTURE
40. Continuity and Discontinuity in International Dispute Settlement 801
James Crawford
41. Contemporary Law of Foreign Investment: Revisiting the
Status of International Law 818
RudolfDolzer
42. Precedent in Investment Treaty Arbitration 830
Andres Rigo Sureda
43. The Saga of CMS: Res Judicata, Precedent, and the Legitimacy
of ICSID Arbitration 843
Charles N. Brotver, Michael Ottolenghi, and Peter Prows
44. Compliance with Investment Treaties: When are States more
Likely to Breach or Comply with Investment Treaties? 865
Moshe Hirsch
45. Human Rights, Constitutionalism, and Public Reason
in Investor-State Arbitration 877
Ernst- Ulrich Petersmann
46. The Future of Investment Arbitration 894
August Reinisch
Bibliography my
Index 955
CONTENTS
List of Contributors xxviii
Table of Cases xxxvii
Table of Treaties lvii
PART I INTRODUCTION
1. Christoph Schreuer: An Appreciation 3
Sir Elihu Lauterpacht
2. A Tribute to Christoph Schreuer 4
Hanspeter Neuhold
PART II JURISDICTION
3. Most Favoured Nation Clauses and Jurisdictional Clauses
in Investment Treaty Arbitration
Guido Santiago Tamil
A. Introduction 9
B. A Brief Reference to the Concept, Origin, and Purpose of MFN Clauses 10
C. Application of MFN Clauses to Dispute Settlement 12
The MFN clause as a way to avoid BITs procedural requirements
prior to resorting to arbitration: the Maffezini path 13
Application of the MFN clause to expand subject-matter jurisdiction
or allow the investor to appear before a different forum to that
provided in the BIT 21
Consent to arbitration as one of the key issues at stake 27
4. MFN Clauses and Dispute Resolution in Investment Treaties:
Have We Reached the End of the Road?
Kaj Hober
A. Introduction 31
B. Background 33
General 33
The Most Favoured Nation standard 34
Interpretation of MFN clauses 35
C. The Award 38
The starting point 38
The MFN clause 38
Exceptions 40
Previous awards 41
D. Concluding Remarks 41
xi
5. Investments in the Territory of the Host State
Christina Knahr
A. Introduction
B. Territoriality Requirement in Investment Protection Treaties 42
43
C. Bay view v Mexico
D. The Canadian Cattlemen Claim 45
E. Other Cases Addressing the Issue 48
Transfer of funds
Activities of the investor 4^
F. Relevance of the Territoriality Requirement in Investment Arbitration 51
6. Consent and Due Process in Multiparty Investor-State Arbitrations
Carolyn B. Lamm, Hansel T. Pham, and Alexandra K. MeiseBay
A. Introduction 54
B. The Need for Party Consent in Multiparty Arbitrations 55
Pre-dispute consent 55
Post-dispute consent 64
De facto consolidation 66
C. Due Process Considerations in Multiparty Arbitration Proceedings 68
Efficient administration of justice 68
Coordinating related arbitrations to avoid inconsistent or contradictory results 70
Arbitrator selection 71
Protecting sensitive and confidential business information 72
D. Conclusion 74
7. Jurisdiction, Competence, and Admissibility of Claims in
ICSID Arbitration Proceedings
Gerold Zeiler
A. The Venture 76
B. Jurisdiction and Competence 77
The wording of the law 77
The ordinary meaning 78
The special meaning 79
C. Admissibility gj
D. The Requirement ofaPrima Facie Case 85
E. Finally: When is an Objection of Inadmissibility Admissible? 89
8. Bridging the Contract/Treaty Divide
Anthony Sinclair
A. Generic Treaty Dispute Settlement Clauses 93
B. Competence to Determine Contractual Claims 94
C. Arbitral Practice Concerning the Generic Treaty Dispute Settlement Clause 95
xii
Decisions against contractual jurisdiction for treaty-based tribunals 95
Decisions in favour of contractual jurisdiction for treaty-based tribunals 97
D. Conclusions 102
9- Monitoring of Domestic Courts in BIT Arbitrations: A Brief
Inventory of Some Issues
Christoph Liebscher
A. Introduction 105
Are courts different? 105
What may courts do wrong? 106
B. Where to Go? 108
Introduction 108
Fork in the road 108
Implied waiver 115
C. When to Go to Arbitration? 117
Exhaustion of local remedies 117
Considerations 120
D. What is the Measuring Stick? 122
Introduction 122
Content 125
E. When to Object? 127
BIT 127
Human rights 128
F. Conclusions 128
PART III PROCEDURE
10. Arbitrator Independence in ICSID Arbitration
Audley Sheppard
A. ICSID Requirement of Independent Judgment Compared with
other Arbitral Rules and National Laws 131
The ICSID requirements 131
UNCITRAL Rules 133
SCC Rules 134
ICC Rules 134
PCA Rules 135
Statute of the ICJ 135
IBA Guidelines 136
National law 136
European Convention on Human Rights 138
Summary 138
B. Relationship between an Arbitrator and a Party 138
C. Relationship between an Arbitrator and a Counsel 144
D. Issue and Subject Matter Conflict 149
E. Conclusion 155
xiii
11. Provisional Measures in Recent ICSID Proceedings: What Parties
Request and What Tribunals Order
Loretta Malintoppi
A. Introduction
B. The Power of an Arbitral Tribunal to Recommend or Order
Provisional Measures under Article 47 of the ICSID Convention
and ICSID Arbitration Rule 39 158
C. The Pre-requisites of Provisional Measures in ICSID Proceedings:
Necessity, Urgency, and Irreparable Harm 161
D. The Rights to be Preserved 164
Non-aggravation of the dispute loo
Non-frustration of the Award 1 °
The procedural integrity of the arbitration process I/O
E. The Practice of ICSID Tribunals: Parties Requests and
Measures Granted 172
Obtaining evidence: discovery and production of documents 172
Financial guarantees: bonds and pre-judgment securities 174
Parallel domestic proceedings: injunctions against actions before local
courts and arbitrations 175
F. Implementation of Provisional Measures and Failure to Comply 179
G. Conclusions 181
12. Inherent Powers of National and International Courts:
The Practice of the Iran-US Claims Tribunal
Friedl Weiss
A. Introduction 185
B. Concept and Doctrinal Views of Inherent Powers 186
General considerations 186
Common law origin in domestic courts 186
Some doctrinal views 187
C. Lessons from the Practice of International Adjudicatory Bodies
Identifying Inherent Powers: Intent of Parties v Necessity 189
Instances of other practice 192
D. Some Concluding Remarks 198
13. ICSID Annulment Decisions: Three Generations Revisited
Irmgard Marboe
A. Introduction 200
B. The Three Generations 201
C. Classification of Annulment Decisions after Vivendi 203
CDC Group v Seychelles 204
Mitchell v Congo ~«^
Repsol v Empresa Estatal Petroleos del Ecuador (Petroecuador) 209
MTD Equity v Chile 210
Soufraki v United Arab Emirates 212
IndustriaNationaldeAlimentos, SA (Lucchetti) etalvPeru 214
CMS v Argentina 215
D. Conclusion 218
14. The Scope of ICSID Review: Remarks on Selected Problematic
Issues of ICSID Decisions
leva Kalnina and Domenico Di Pietro
A. Introduction: Four Generations of Annulment Proceedings 221
B. Review of ICSID Arbitral Awards in a Comparative Perspective 224
Annulment under the ICSID Convention: key concepts 224
Revision of non-ICSID investment arbitration awards: comparative remarks 226
Invocation of the annulment grounds in practice 228
The issue of partial annulment 233
C. The Use of Precedent in ICSID Arbitration 234
D. ICSID Control over Quality and Consistency of Arbitral Awards 237
Annulment and quality of awards 239
Annulment and consistency of awards 242
E. Remedies for Consistency and Legitimacy Lacunae Inherent
in Article 52 244
ICSID Appeals Body 245
Preliminary rulings 248
Scrutiny of draft awards 248
F. Concluding Remarks 249
15. On the Denunciation of the ICSID Convention, Consent to
ICSID Jurisdiction, and the Limits of the Contract Analogy
Oscar M. Garibaldi
A. Introduction 252
B. Consent 257
C. Denunciation and Consent 259
Denunciation 259
The function of Article 72 259
The content of Article 72 260
D. The Limits of the Contract Analogy 272
E. Conclusions 276
16. Denouncing ICSID
Keyvan Rastegar
A. Introduction 278
YV
278
B. Foundation
279
C. Rules 279
Text 2g0
Tension _oc
Permutations
D. History ^87
Foundation
Vienna Convention on the Law of Treaties Zo°
History of the ICSID Convention 291
291
E. Purposive Theories ^y
291
Foundation
Textual ideals 293
Tested ideals 297
F. Projection 300
17. State Immunity and the Enforcement of Investor-State
Arbitral Awards
Andrea K. Bjorklund
A. Execution of Awards under the ICSID Convention 305
B. Enforcement of Awards under the New York Convention 307
C. Municipal State Immunity Laws and Recalcitrant Respondents 309
Argentina s response to ICSID claims arising from the financial crisis 310
The Sedelmayer saga 314
The Foreign Sovereign Immunities Act, the New York Convention,
and the US Constitution 316
D. Conclusion 321
18 Enforcement of ICSID Awards: Articles 53 and 54 of the
ICSID Convention
StanimirA. Alexandrov
A. Introduction 322
B. Text of the Convention 324
C. Negotiating History and Commentary 326
D. Practice 329
E. Consequences of an Alternative Interpretation 335
F. Conclusion 237
PART IV INVESTMENT ARBITRATION AND OTHER
FORMS OF INVESTMENT PROTECTION
19. The Diplomatic Protection of Foreign Investors: A Tale of Judicial Caution
Peter Muchlinski
xvi
A. The Need for Diplomatic Protection 342
B. The Exhaustion of Local Remedies 343
C. The Link of Nationality 347
The nationality of corporations in international law 348
The Barcelona Traction case 352
The Diallo case 357
D. Substantive Standards in Customary Law 359
E. Concluding Remarks 362
20. Claims of Shareholders in International Investment Law
Abby Cohen Smutny
A. Protections under Customary International Law 364
Barcelona Traction 364
ILC draft Articles on diplomatic protection 366
Diallo 367
B. Protections under Treaties 369
ELSIase 369
Decisions under other investment treaties 372
C. Conclusion 376
21. Chancellor Wirth and the Mologales Concession 1923-1927:
The German-Speaking Origins of the 1965 ICSID Convention
V.V. Veeder
A. Introduction 377
B. The 1918 Brest-Litovsk Treaties 378
The Financial Agreement 379
The Civil Law Agreement 379
C. The 1921 Provisional Treaty 380
D. The 1922 Rapallo Treaties 382
E. The 1922 Genoa Conference 383
F. Early German-Soviet Concessions 384
G. Bersol 385
H. The Junkers Concession 386
I. The Mologales Concession 388
J. 1923 Arbitration Agreement 390
K. 1923-1927 390
L. 1927 Arbitration Agreement 396
M. Post-Mortem 397
N. Conclusion 398
Appendix 400
xvii
PARTV SUBSTANTIVE INVESTMENT LAW
22. Identify or Define? Reflections on the Evolution of the Concept
of Investment in ICSID Practice
Emmanuel Gaillard
A. The Competing Methodologies for the Assessment of the Existence
of an Investment
AM /
The intuitive method
The deductive method
B. The Factors to be Taken into Account in the Assessment of the
Existence of an Investment 412
A fourth factor: the concept of contribution to the economic
development of the host State? ** * ^
A fifth factor: the concept of positive and significant contribution
to the economic development of the host State? 41!)
23. Local Remedies and the Standards for the Protection of Foreign Investment
Ursula Kriebaum
A. Introduction 417
B. The Local Remedies Rule: Function, Chatactet, and Waiver 420
The functions of the local remedies rule 420
Is the local remedies rule a substantive or a procedural requirement? 421
Denial of justice and the requirement to exhaust local remedies 424
The waiver of the local remedies rule in Article 26 of the ICSID Convention 425
C. Recent Case Law dealing with Resort to Local Remedies in Connection
with Substantive Standards 427
Tribunals mentioning the requirement to resort to local remedies in
the context of jurisdiction 427
Tribunals addressing the requirement to resort to local remedies in
the context of the merits 430
D. Evaluation 443
Contracts—fair and equitable treatment and resort to local remedies 445
Contracts—expropriation and resort to local remedies 448
Forks in the road and resort to local remedies 451
Resort to local remedies for finalizing an expropriation 453
ICSID as an alternative dispute settlement mechanism endangered 457
E. Summary and Conclusions 460
24. Premature Treaty Claims
Ole Spiermann
A. Vivendi vArgentina 466
B. Expropriation /gg
Under v Czech Republic and CME v Czech Republic 468
Generation Ukraine v Ukraine 4gt)
xviii
SGS v Philippines 472
Waste Management v Mexico (No. 2) 473
En Cana v Ecuador 474
Parkerings- Cornpagniet v Lithuania 476
Helnan v Egypt 477
Conclusions 479
C. Fair and Equitable Treatment 481
SGS v Philippines 481
Waste Management v Mexico (No. 2) 481
Garni v Mexico 482
Salukav Poland 482
Parkerings- Companiet v Lithuania 483
Conclusions 485
D. Umbrella Clauses 486
25. Do Umbrella Clauses Apply to Unilateral Undertakings?
Maria Cristina Griton Salias
A. Umbrella Clauses 490
B. Unilateral Undertakings 491
C. The Practice of Tribunals 492
D. Conclusion 495
26. BIT by BIT: The Silent Liberalization of the Capital Account
Michael Waibel
A. Introduction 498
B. Exchange Restrictions 500
C. A Short History of Capital Account Convertibility 502
D. Transfer of Funds Provisions in Early Bilateral Treaties 505
E. Balance of Payment Safeguards in Multilateral Treaties 506
F. Transfer of Funds Clauses in BITs 511
G. Conclusion: The Silent Liberalization of the Capital Account 516
27. The United States 2004 Model Bilateral Investment Treaty and
Denial of Justice in International Law 519
Stephen M. Schwebel
PART VI REGIONAL ASPECTS OF
INVESTMENT PROTECTION
28. The Canadian Approach to Investment Protection: How Far We Have Come!
L. Yves Fortier
A. Introduction 525
Canada s signature of the Convention 526
xix
B. An Overview of Canada s Investment Treaty Model 528
The early years -oq
Experience under the NAFTA
Going forward: The NAFTA-Plus Model ^
C. The Sine Qua Nons of Czn di n Investment Protection 532
Transparency and access
Conditions precedent to dispute settlement: gate-keeping provisions 54U
D. Conclusion J
29. Conflict of Norms Stemming from Intra-EU BITs and
EU Legal Obligations: Some Remarks on Possible Solutions
Marek Wierzbowski andAleksander Gubrynowicz
A. Introduction -
B. Is there any Conflict between EU Law and Intra-EU BITs? 546
National treatment clause 54b
Right of establishment - 4/
Free movement of capital 54/
Umbrella clause 548
Fair and equitable treatment 549
Expropriation Jj
C. The Conflict of Obligations Stemming from the EU Legal Order and
BITs in the Light of the Eastern Sugar BVv Czech Republic Award 552
D. The Solutions 555
A European clause? 556
A European investment court? 557
E. Conclusions 560
30. Investment Rules in Regional Integration Agreements in Latin America:
The Case of the Andean Pact/Andean Community
Waldemar Hummer
A. Introduction 561
B. Bilateral Investment Treaties (BITs) versus Regional Trade Agreements
(RTAs) with Investment Provisions 564
C. From the Andean Pact (1969) to the Andean Community (1997) 566
Establishment of the Andean Pact (1969) 566
Withdrawal of Chile (1976) 566
Further evolution of the Andean Pact 567
Establishment of the Andean Community (1997) 568
Withdrawal of Venezuela (2006) 569
Chile as an associate member (2006) 569
Compatibility of the Sub-regional Andean Pact/Andean
Community with the Latin American Free Trade Association
(LAFTA) and its conformity with G ATT 570
D. Investment Regimes within the Andean Pact (1969)/Andean
Community (1997) 571
Hie Latin American Free Trade Association (LAFTA) (1960)—a Regional
Framework Agreement for the Sub-regional Andean Pact (1969) 571
Strategy change in the Andean Pact with regard to the treatment of
foreign investments 572
Primary law provisions of the Cartagena Agreement 572
Secondary law provisions 573
E. Related Regimes: Dual Taxation and Deregulation of Services 586
Dual taxation 586
The deregulation of services 586
F. Possible Refotms of the Current Regimes Governing Foreign
Investments in the Andean Community 587
G. Final Considerations 589
PART VII INVESTMENT LAW AND OTHER FIELDS
31. The Provisional Application of the Energy Charter Treaty
Gerhard Hafner
A. Introduction 593
B. The Meaning of Provisional Application 593
C. The Nebulous Use of the Term Provisional Application 594
The restricted application of the treaty 595
The creation by unilateral acts 596
Domestic law and provisional application 597
D. The Reasons for Provisional Application 598
E. The Provisional Application of the Energy Charter Treaty 599
The relation between Articles 45(1) and (2) of The Energy Charter Treaty 600
The ipsojure effect of the domestic law exception and the effect of a
declaration made under Article 45(1) ECT 603
F. Conclusion 606
32. Changed Circumstances in Investment Law: Interfaces between the
Law of Treaties and the Law of State Responsibility with a Special
Focus on the Argentine Crisis
Christina Binder
A. Introduction 608
B. Necessity in the Argentine Crisis before Investment Tribunals 610
Facts 610
Relevant international standards 611
The relationship between the treaty-based emergency exception and the
necessity defence under customary international law in the
jurisprudence of investment tribunals 613
xxi
C Findings of the Different Tribunals in the Light of General
International Law ^
61/
Rules of treaty interpretation , .
Norm conflict resolution techniques (the lex specialis principle) t ZU
The relationship between the law of treaties and the law of State responsibility b/A
r* 1 • 629
D. Conclusion
33. The Economic Emergency Defence in Bilateral Investment Treaties:
A Development Perspective
AsifH. Qureshi
A. Introduction
B. The Objective Review of the Economic Emergency Security
Defence in BITs 631
C. Approaches to Interpreting the Economic Emergency
Provision in BITs 33
D. The Processes Involved in the Interpretation of the Economic
Emergency Security Defence in BITs 635
E. Conclusion 635
34. The European Court of Human Rights and Investment Protection
Christian Tomuschat
A. Introduction 636
B. Alternative Dispute Settlement Mechanisms 637
Bilateral investment treaties (BITs) 637
Human rights mechanisms 638
C. The European Convention on Human Rights 640
General considerations—The ECHR and ICSID compared 640
Protection of property under the ECHR 642
Compensation 652
Enforcement/execution 655
D. Concluding Observations 655
35. Recent Case Law on the Protection of Property in the European
Convention on Human Rights
Luzius Wildhaberandhabelle Wldhaber
A. Introduction 657
B. General Aspects of the Notion of Protection of Property 658
Interpretation of Article 1 of Protocol No. 1 658
Enumeration of possessions which were found to be protected 659
C. Case Law Illustrating Protected Elements of the Right to Property 661
Legitimate expectations ggj
Social security claims ^2
Other cases gg^
xxii
D. Four Categories of Recent Case Law 666
De facto expropriations 666
Restitution of property confiscated by communist regimes
without compensation 668
Insufficient or delayed indemnities for expropriations 672
Excessively high fines or fees 673
E. On the Way towards a European Supreme Administrative Court
in Charge of Fighting Arbitrariness 674
F. Conclusion 676
36. Harmonizing Investment Protection and International
Human Rights: First Steps towards a Methodology
Bruno Simma and Theodore Kill
A. Introduction 678
B. The Practice of the International Court of Justice 682
External rules and discrete treaty terms 683
Presumption of compliance with international law 686
C. Vienna Convention Article 31 (3) (c) 691
Interpretation or modification of treaties? 692
The elements of Vienna Convention Article 31(3)(c) 695
D. Linking International Human Rights Law and International
Investment Law through External Rules 703
E. Conclusion 706
37. Joint Tortfeasors in Investment Law
Stephan Wittich
A. Investment Law and International Responsibility 708
B. CME v Czech Republic 709
C. Outline 711
D. Joint and Several Liability and Causation 712
E. Aid or Assistance 714
F. Plurality of Responsible States 716
G. Conclusions: Joint Tortfeasors and Investment Law 721
38. Interpreting Investment Treaties: Experiences and Examples
Thomas W. Wdlde
A. Introduction: Between International Arbitration, Classic International
Law, and under the Increasing Shadow of the Vienna Rules 724
B. Pro-State and Pro-investor Approaches, the Dictionary versus
Policy Approach, and the Fiction of the Competent but Mysterious
Treaty Drafter 731
C. The Vienna Rules of Treaty Interpretation: A Single Order
but with Different Styles
D. Special Interpretative Challenges Rooted in the Nature of
Investment Treaties
E. Investment Treaty Interpretation under the Vienna Convention 751
Article 31 general rule of interpretation /^
Article 31(1): ordinary meaning j
Article 31(1) and (2): context 754
Article 31(1): object and purpose ^o
Article 31(3)(a) and (b): subsequent interpretative agreements and practice 765
Article 31(3)(c): Regressive restraint or progressive evolution through
international law?
Article 32: supplementary means
F. Conclusion 78°
39. Commercial Arbitration and Investment Arbitration:
Fertile Soil for False Friends?
Giuditta Cordero Moss
A. Introduction 782
The linguistic dimension: different languages and Esperanto 783
The legal dimension: national laws and uniform law 783
Investment arbitration and commercial arbitration 783
B. General Principles Expressed in Investment Awards and their
Transplant into Commercial Disputes 784
General principles as sources of the lex mercatoria 786
Public international law as source of the lex mercatoria? 787
Does national law violate public international law? 788
False friends 789
Towards an acceptance of the supposed interchangeability? 789
C. Arbitration Rules for Commercial Arbitration and their
Transplant into Investment Disputes 791
Commercial arbitration 792
Investment arbitration 793
Use of commercial rules for investment disputes 793
D. Conclusion 796
PART VIII THE FUTURE
40. Continuity and Discontinuity in International Dispute Settlement
James Crawford
A. Introduction oni
B. The Acquis of 1899: International Dispute Settlement at the Time
of the Hague Peace Conferences g0 $
C. Discontinuity in the Institutions of International Dispute Settlement 809
xxiv
D. Continuity in the Institutions of International Dispute Settlement 811
E. Conclusions 816
41. Contemporary Law of Foreign Investment: Revisiting the Status
of International Law
RudolfDolzer
A. A Pioneer of International Investment Law 818
B. The Past Decades: Winds of Change in Shifting Directions 819
C. International Law and the Genesis of ICSID: Searching for a
Global Consensus at a Time of Global Policy Disarray 820
D. International Law Predominant in Negotiations on the ICSID
Convention 821
E. Recent Investment Disputes outside ICSID: From Private
Law to Public Law 822
F. ICSID Jurisprudence: International Law as the Framework 824
G. The Applicability of International Law Independent of ICSID 825
H. Recalling the Foundations: The Protection of a Foreign Investor
by International Law 826
I. Contemporary Developments: The New Global Concern for
the Protection of Foreign Investment 827
J. Conclusion 828
42. Precedent in Investment Treaty Arbitration
Andres Rigo Sureda
A. Introduction 830
B. The Weight of Precedents 833
C. Precedent and Values 839
D. Doctrine and Precedent 841
E. Conclusion 842
43. The Saga of CMS: Resjudicata, Precedent, and the Legitimacy
of ICSID Arbitration
Charles N. Brower, Michael Ottolenghi, and Peter Prows
A. The Resfudicata of an Arbitral Award: Recognition and Enforcement
of The Thing Adjudicated in an Individual Case 846
B. Precedent in the ICSID System 851
C. The CMS Case 856
Background: Argentina s economic reforms and emergencies 856
The CMS Award and progeny: a split in the arbisprudence 857
The CMS annulment proceedings and decision 860
D. Conclusion 863
44. Compliance with Investment Treaties: When are States more Likely
to Breach or Comply with Investment Treaties?
MosheHirsch
, . 865
A. Introduction
B. Compliance with International Law
C. The Realist Approach and Compliance with Investment Treaties 866
¦ / i 86o
Repeated (or one-shot) games
_ , boo
Retaliatory measures
Information ,_
Discount factor
D. The Liberal Approach and Compliance with Investment
Treaties
E. The Constructivist Approach and Compliance with
Investment Treaties °
F. Conclusions 8?5
45. Human Rights, Constitutionalism, and Public Reason in
Investor-State Arbitration
Ernst- Ulrich Petersmann
A. Human Rights Require Multilevel Constitutional Protection
of International Division of Labour 877
B. Rule of International Law Must be Protected in Conformity
with Multilevel Human Rights 879
C. Multilevel Economic Constitutionalism can Complement
Multilevel Human Rights Law 882
D. Investor-State Arbitration Should Respect National and
International Human Rights: Justice in Robes? 885
E. Need for a Constitutional Theory of Adjudication in
International Economic Law 888
F. Constitutional Justice Requires more Inclusive Public Reason 891
46 The Future of Investment Arbitration
August Reinisch
A. Introduction 894
B. The Appeal of Investment Arbitration 895
The availability of investment arbitration 895
The enforceability of investment arbitration awards 897
The indirect advantages of investment arbitration for host States 899
C. Problems with Investment Arbitration 903
The danger of poorly reasoned awards and decisions 904
The danger of inconsistent awards and decisions 905
D. Proposais for Improvement 908
Quality assurance 908
Options to avoid inconsistencies 909
E. Conclusion 916
Bibliograph)/ 917
Index 955
|
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| spelling | International investment law for the 21st century essays in honour of Christoph Schreuer ed. by Christina Binder ... 1. publ. Oxford [u.a.] Oxford Univ. Press 2009 LXVI, 970 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (p. 917-954) and index Recht Investments, Foreign Law and legislation Investments, Foreign (International law) (DE-588)4016928-5 Festschrift gnd-content Binder, Christina 1973- Sonstige (DE-588)128661127 oth Schreuer, Christoph 1944- (DE-588)1011643669 hnr HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018632423&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | International investment law for the 21st century essays in honour of Christoph Schreuer Recht Investments, Foreign Law and legislation Investments, Foreign (International law) |
| subject_GND | (DE-588)4016928-5 |
| title | International investment law for the 21st century essays in honour of Christoph Schreuer |
| title_auth | International investment law for the 21st century essays in honour of Christoph Schreuer |
| title_exact_search | International investment law for the 21st century essays in honour of Christoph Schreuer |
| title_full | International investment law for the 21st century essays in honour of Christoph Schreuer ed. by Christina Binder ... |
| title_fullStr | International investment law for the 21st century essays in honour of Christoph Schreuer ed. by Christina Binder ... |
| title_full_unstemmed | International investment law for the 21st century essays in honour of Christoph Schreuer ed. by Christina Binder ... |
| title_short | International investment law for the 21st century |
| title_sort | international investment law for the 21st century essays in honour of christoph schreuer |
| title_sub | essays in honour of Christoph Schreuer |
| topic | Recht Investments, Foreign Law and legislation Investments, Foreign (International law) |
| topic_facet | Recht Investments, Foreign Law and legislation Investments, Foreign (International law) Festschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018632423&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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