Resistance and change in the international law on foreign investment:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge
Cambridge Univ. Press
2015
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Klappentext Inhaltsverzeichnis |
| Beschreibung: | Enth.: Bibliogr. S. 421 - 437 |
| Beschreibung: | XX, 452 S. |
| ISBN: | 9781107096622 |
Internformat
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| 245 | 1 | 0 | |a Resistance and change in the international law on foreign investment |c M. Sornarajah |
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Datensatz im Suchindex
| _version_ | 1804174757083480064 |
|---|---|
| adam_text | Since the 1990s, conflicts within international law on foreign investment have
arisen as a result of several competing interests. The neoliberal philosophy
ensured inflexible investment protection given by a network of investment
treaties interpreted in an expansive manner. This has led to states creating
regulatory space over foreign investment. N GOs committed to single causes
such as human rights and the environment protested against inflexible
investment protection. The rise to prominence of arguments against the
fragmentation of international law also affected the development of investment
law as an autonomous regime. These factors have resulted in some states
renouncing the system of arbitration and other states creating new treaties
which undermine inflexible investment protection. The treaty-based system of
investment protection has therefore become tenuous, and change has become
inevitable. Emphasizing the changes resulting from resistance to a system based
on neoliberal foundations, this study looks at recent developments in the area
CONTENTS
Preface page xiii
Table of cases xiv
1 Introduction 1
1.1 Neoliberalism as a driving factor 10
1.2 Explaining change 16
1.3 The phases of change 19
1.4 Earlier phases of the international law on foreign
investment 31
1.4.1 The first and formative phase 32
1.4.2 The second phase of universalization of the
conflicts 35
1.4.3 The third phase of neoliberal change 43
1.4.3.1 Regime formation and dissolution 44
1.4.3.2 Expansionist norms 45
1.4.4 The fourth and current phase 45
1.4.5 The competing forces in the fourth phase 47
1.4.6 Conserving the neoliberal regime 48
1.4.6.1 New theoretical rationalizations 49
1.4.6.2 Constancy in jurisprudence 50
1.4.6.3 Analogical reasoning 50
1.4.6.4 Deflecting push-backs by states 52
1.4.6.5 Arrogation of quasi-legislative powers 53
1.4.7 Resisting neoliberalism 54
1.4.7.1 Push-back by states 56
1.4.7.2 Narrowing jurisdiction 57
1.4.7.3 Ending fragmentation 58
1.4.7.4 Expansionism versus strict construction 61
vi l
Vlil
CONTENTS
1.4.7.5 Rise of corporate responsibility 63
1.4.7.6 Other factors 64
1.4.8 The retreat of neoliberalism? 66
1.5 The course of the fourth phase 68
1.6 The outline of the book 71
1.7 The arrangement of the book 72
2 The precursor of neoliberalism: internationalization
of foreign investment contracts 78
2.1 Future relevance 80
2.2 A brief history 81
2.3 The relationship with diplomatic protection
and state responsibility 86
2.3.1 Diplomatic protection and state responsibility 89
2.4 The internationalization theory 94
2.4.1 The six petroleum arbitrations 102
2.4.2 The policy arguments for internationalization 107
2.4.3 The Libyan arbitrations 111
2.4.4 Am moil signals change 116
2.5 Contract disputes and ICSID tribunals 122
2.6 Survival of internationalization in ICSID cases 128
2.7 The interaction between contract֊ and treaty֊based
arbitration 130
2.7.1 The umbrella clause 131
2.7.2 Role of stabilization clauses under investment treaty
arbitration 132
2.7.3 Linking the law on legitimate expectations 133
2.8 Conclusion 133
3 Creating jurisdiction beyond consent 136
3,1 The original sin: ‘arbitration without privity 139
3.1.1 The justification of treaty-based jurisdiction:
was it faulty? 144
3.1.2 Extreme adventurism
146
CONTENTS
IX
3.2 Restricting arbitral adventurism 147
3.2.1 The definition of investment and the criterion of economic
development 151
3.2.2 The requirement of an investment made in accordance with
the law of the host state 164
3.3 The acme of aberrations: Abaclat and financial
instruments 168
3.4 Corporate nationality as a vehicle for expansion 173
3.4.1 Round-tripping of investments 177
3.4.2 Migration of companies 179
3.5 The MFN clause saga 183
3.5.1 Conclusion on expansive trends 185
3.5.2 Trends favouring the state 186
3.6 Conclusion 188
4 The emasculation of expropriation 191
4.1 The course of expropriation law 193
4.2 The basis of expansion of expropriation 207
4.3 The revival of regulatory expropriation 212
4.4 Stemming the regulatory takings tide 220
4.5 The changing concept of property in the international
law of expropriation 223
4.6 Conserving regulatory expropriation and the
distinguishing criteria 237
4.7 The bridge to fair and equitable treatment 242
4.8 Conclusion 244
5 Fair and equitable treatment: conserving relevance 246
5.1 Diversity in the standard 250
5.2 Giving content to the fair and equitable
standard 252
S3 The discovery of legitimate expectations 257
The turn to administrative law 268
5.4
X
CONTENTS
5.5 The contraction of legitimate expectations 272
5.6 Restrictions on legitimate expectations 273
5.6.1 There is a duty on the foreign investor to make due diligence
efforts to determine whether his expectations are legitimate,
reasonable and well-founded 278
5.6.2 There is a duty to have regard to the circumstances of the
host state 280
5.6.3 Contractual commitments are not protected 282
5.6.4 Expectations and the stabilization commitment 284
5.6.5 Balancing of the regulatory power of the state
with the legitimate expectations of the foreign
investor 288
5.7 Legitimate expectations and the legitimacy crisis 291
5.7.1 Theoretical justifications for recognizing legitimate
expectations 293
5.7.2 The rule of law argument 295
5.7.3 The global administrative law argument 298
5.8 Conclusion 298
Backlash through defences 300
6.1 The defences in the treaties and customary law 307
6.1.1 National security 308
6.1.2 Necessity 308
6.2 The expansion of defences 314
6.2.1 Human rights obligations and investor rights 318
6.2.1.1 The doctrine of permanent sovereignty over
natural resources 324
6.2.2 The right to development 327
6.3 International environmental law considerations 331
6.4 Other obligations in conflict with investment
protection 339
6.4.1 Cultural rights 340
6.4.2 Indigenous rights 341
6.5 Defences: evolution or erosion of investment
protection? 342
6.6 Conclusion 343
CONTENTS
XI
7 The search for balance 347
7.1 Intermediate solutions 347
7.2 Balanced treaties as the solution 348
7.2.1 The ASEAN Investment Agreement 352
7.2.2 The SADC Model Investment Treaty 356
7.2.3 The Commonwealth Report and Model Treaty
7.2.3.1 Change and balanced treaties 363
7.3 The proportionality rule in investment
arbitration 365
7.3.1 The public law basis of investment arbitration
7.3.2 The proportionality rule 371
7.3.3 What is the proportionality test? 373
7.3.4 References to the proportionality test in arbitral
awards 376
7.3.5 The future of proportionality 380
7.4 Possible changes 382
8 Resistance and change in international investment law
8.1 Interpreting change 393
8.2 The three periods of change 394
8.2.1 The period of explosion 395
8.2.2 The period of conflict 399
8.2.3 The period of uncertainties 404
8.3 The possible reforms 407
8.3.1 The recognition that the system of investment
treaties is a failure so that it should be terminated
Establishing a screening mechanism prior to
arbitration 408
The responsibility of arbitral institutions 408
A return to contractual methods of protection
Controlling legal representation in investment
362
369
389
407
8.3.2
8.3.3
8.3.4
8.3.5
409
arbitration
409
8.4 Theory of resistance and change 410
8.4.1 There is relative certainty in the law when it is driven by an
uncontested hegemonic power on the basis of an
unchallenged ideology it seeks to promote 410
XII
CONTENT TS
8.4.2 In the economic sphere» private power acts in tandem
with public to maintain international norms
favourable to it 414
8.4.3 Resistance to the hegemonic order sets in when its
inadequacies and injustices become apparent 415
8.4.4 The role of justice in resisting power ensures change 417
8.4.5 When resistance mounts, accommodation will be sought
that may or may not ease the pressure for change. But the
search for accommodation itself is change 418
8.5 Does the notion of resistance and change apply to other
areas of international law? 420
Bibliography 421
índex 438
|
| any_adam_object | 1 |
| author | Sornarajah, M. 1942- |
| author_GND | (DE-588)142999199 |
| author_facet | Sornarajah, M. 1942- |
| author_role | aut |
| author_sort | Sornarajah, M. 1942- |
| author_variant | m s ms |
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| bvnumber | BV042593308 |
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| ctrlnum | (OCoLC)935782519 (DE-599)BVBBV042593308 |
| dewey-full | 346.07 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 346 - Private law |
| dewey-raw | 346.07 |
| dewey-search | 346.07 |
| dewey-sort | 3346.07 |
| dewey-tens | 340 - Law |
| discipline | Rechtswissenschaft |
| edition | 1. publ. |
| format | Book |
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| isbn | 9781107096622 |
| language | English |
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| spelling | Sornarajah, M. 1942- Verfasser (DE-588)142999199 aut Resistance and change in the international law on foreign investment M. Sornarajah 1. publ. Cambridge Cambridge Univ. Press 2015 XX, 452 S. txt rdacontent n rdamedia nc rdacarrier Enth.: Bibliogr. S. 421 - 437 Investments, Foreign (International law) Investissements étrangers / Droit ram Digitalisierung UB Passau - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028026509&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Klappentext Digitalisierung UB Passau - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028026509&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Sornarajah, M. 1942- Resistance and change in the international law on foreign investment Investments, Foreign (International law) Investissements étrangers / Droit ram |
| title | Resistance and change in the international law on foreign investment |
| title_auth | Resistance and change in the international law on foreign investment |
| title_exact_search | Resistance and change in the international law on foreign investment |
| title_full | Resistance and change in the international law on foreign investment M. Sornarajah |
| title_fullStr | Resistance and change in the international law on foreign investment M. Sornarajah |
| title_full_unstemmed | Resistance and change in the international law on foreign investment M. Sornarajah |
| title_short | Resistance and change in the international law on foreign investment |
| title_sort | resistance and change in the international law on foreign investment |
| topic | Investments, Foreign (International law) Investissements étrangers / Droit ram |
| topic_facet | Investments, Foreign (International law) Investissements étrangers / Droit |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028026509&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028026509&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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