International Investment Arbitration: Refuge Versus Deadlock Ghada Awada Majored in International Relations and Diplomacy Crisis Management and Applications of Technology in Language Teaching and Learning (original) (raw)
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International Investment Arbitration: Refuge Versus Deadlock
This study investigated the impact of arbitration and other alternative dispute resolution methods on the extant of foreign investments in a country. The international trade community resorts to arbitration as a security refuge; accordingly, the international arbitration agreements are drafted and ratified . The study proved that the interrelation between investment definitions and investments shape to a certain extent the amount of investments in a country. The findings of the study indicated that it is recommended to find a legal mechanism similar to those created by the Lebanese Council of Ministers, and the legislator shall be aware of the international conventions and the form of investment before it is signed. There is also a compelling need to clarify Article 21 of the Amended Unified Convention for the Investment of the Arab Capitals in the Arab states as drafted on 6/12/2012. It is imperative that Lebanon not ratify item 8 of Article 3 of the Annex pertaining to the Amended Unified Convention for the Investment of the Arab Capitals in the Arab states as drafted on 6/12/2012. It is crucial that a summary of the arbitral decisions issued by international institutions relating to arbitration be obligatory.
Law and World, 2020
An economic development of the states highly depends upon the fl ow of private international investment. Whilst the creation of suitable investment climate which would guarantee the fair and equitable treatment of foreign investment within the depoliticised and impartial dispute resolution system had been objective of the World Bank, the International Centre for Settlement of Investment Disputes was established under its auspices. The primary objective of the ICSID Convention has been viewed on facilitating and safeguarding of private international investment through the creation of a favourable investment climate. Arbitration under the ICSID, serves not only in favour of investors but also of host states. Whilst the favourable means are offered to the both parties for dispute resolution according to the major provisions of the Convention, the "[e]xecution of the awards", represent the slight alteration in the disadvantageous position of the foreign investor. The aforementioned alteration as the time consuming process, fulfi lled within the state bureaucracy is more sensibly approached by the foreign investors in developing countries, under which the political risk and demand for foreign investment protection is always one of the highest extent. However, by virtue of signing the Convention, the states not only accept the proposed dispute resolution mechanism, but also declare and desire to welcome the foreign investment. As states aforementioned attempts could be related to the creation of the Global Forum for delivering better Investment Climate, the demands of the World Bank in the sphere is one of the most signifi cant importance.
Thesis Summary: Treaty Conflicts in Investment Arbitration (Ahmad Ali Ghouri)
The thesis assesses one of the core problems arising in international investment law, namely, the conflicts that international investment treaties may create with other international agreements. This topic is so important because investment treaties are primarily intended to protect the interests of foreign investors, and do not clarify how they relate to other international agreements protecting interests that may compete with the interests of foreign investors. Tensions exist, inter alia, between international investment law and other branches of international law, such as human rights, international environmental, and EU law. These tensions are exacerbated by the fragmented nature of international investment law as a law governed by several thousand bilateral treaties. Ultimately, the multiple problems of fragmentation may put the legitimacy of international investment treaties and investor-state arbitration into question. This summary gives an overview of the approach, methods questions, hypothesis, presentation, and findings of the research, which are elaborated on in the 200 pages of the original thesis.
European Yearbook of International Economic Law, 2020
This Chapter first summarizes the criticism voiced against investment treaty arbitration with specific regard to its relationship with domestic courts (infra at Sect. 2.1). It does not seek to discuss all of the multiple concerns raised against investment arbitration, which have already been addressed in the authors' First CIDS Report 1 and are further examined in the UNCITRAL Secretariat's papers, 2 among other materials. 3 Discussing the criticism of investment arbitration vis-à-vis domestic courts requires providing an overview of the main reasons why States created the investment treaty system in the first place (infra at Sect. 2.2) and examining today's justifications for keeping or putting in place an international system of investment dispute resolution, whether in the form of arbitration or standing adjudicatory bodies (infra at Sect. 2.3). The following subsections will in particular ask: What goals were IIAs intended to achieve? In light of those goals, what is the function of international courts and tribunals in the investment law domain, either in their current arbitral configuration or in future constellations such as a MIC? As States are considering questions concerning the institutional design and redesign of the system, it appears important to seek to provide answers to these questions in order to test the continuing validity of the assumptions which underpin the conclusion of investment treaties with international dispute resolution mechanisms.
Arbitration of investment disputes under Iranian investment treaties
Journal of Money Laundering Control, 2011
PurposeThe purpose of this paper is to examine the remedies available under Iranian investment treaties for settlement of investment disputes. This includes the obligation of the Iranian Government to provide foreign investors access to international arbitration. The sensitivity of the controversial Iranian nuclear program and the imposition of economic and financial sanctions on Iran will lead to the termination of many contracts between companies from Europe and the West and Iran, therefore, a viable solution must exist to address the rights and remedies of foreign investors. This article aims to provide an insight into Iranian treaties.Design/methodology/approachThe main method was a survey of different treaties signed by Iran.FindingsThe discussion revealed that there are currently more than 50 treaties signed and ratified by Iran which provide arbitration as a dispute resolution forum. There are many treaties between the member countries of the European Union which make it impo...
THE DEVELOPMENT OF INTERNATIONAL INVESTMENT DISPUTE SETTLEMENT SYSTEMS
Akademik Hassasiyetler, 2019
Foreign direct investment is currently one the fastest growing parts of international law. It has increased due to the proliferation of bilateral investment treaties (BIT). The contribution of the BITs has ensured the protection of foreign investors and investment. In other words, in cases where there is a dispute, the investor will settle the dispute before the impartial and independent arbitration tribunal instead of the courts of the host state. Thus, BITs limit the host states' sovereignty by providing arbitration method. Although the introduction of arbitration method is considered to be a big step after the Second World War, it cannot be said that it solves the fundamental problem over the time. Before the war, when an investment dispute arose, the investor was used to go to the court of the host state and see the sovereignty power. After the war, investor has been encountered the same effect in the execution of the arbitral award in the host state. Therefore, the focus of the article will be on the history of international investment law based on dispute settlement systems of BITs compared with historical investment dispute settlement systems. In addition, it is argued that the application to arbitration does not change the result of state sovereignty. It may signal future problems in this field since it causes revisiting to the court system. The most obvious example of this is the efforts to establish a multilateral investment court.
Nnamdi Azikiwe University Journal of International Law and Jurisprudence, 2017
This paper analyses the mechanism for settlement of investment dispute in International Arbitration. The paper adopts doctrinal and analytical approach to legal research. The study examines the provisions of the International Centre for Settlement of Investment Dispute (ICSID) being the most recognised platform for settlement of investment dispute. However, references were made to similar institutions for comparison. The study reveals that Investment Treaties-either multi or bilateral treaty (BITs) are entered into to provide avenue for settlement of investment dispute that may arise between states or their nationals to the treaty. The paper argues that certain provisions of ICSID and other institutional mechanisms for settlement of investment dispute contain compulsory arbitration thereby negating the concepts of consent and party autonomy which are salient elements of international arbitration. The paper concludes with recommendations that the offending provisions of ICSID should be reformed in tandem with jurisprudence of arbitration proceedings.
67. International investment arbitration: Winning, losing and why
2012
This second edition of this publication provides an overview of important contemporary issues relating to foreign direct investment (FDI) and multinational enterprises for all those who are interested in this subject, but are not always in a position to follow diverse perspectives and what is being written in the various corners of this field. The contributions are grouped under the following headings: attracting FDI and its impact; the rise of emerging market investors; national policies; sustainable international investment; and international investment treaties and arbitration. The volume brings together all Perspectives published since the inception of this series until 2012.https://digitalcommons.wcl.american.edu/facsch\_bk\_contributions/1391/thumbnail.jp
Reforming International Investment Arbitration: an Introduction
The Law & Practice of International Courts and Tribunals
For over a decade, investor-state dispute settlement (ISDS) has suffered a socalled legitimacy crisis.1 Critics have argued that ISDS is pro-investor, biased against developing countries, beset by incoherent jurisprudence and plagued by a lack of transparency and excessive costs and compensation.2 While the 1 Amongst the first scholarly critiques was Susan D. Franck's, "The Legitimacy Crisis in Investment Treaty Arbitration: