Investment Treaty Arbitration

While the public debate on access to investment arbitration has continued from a policy perspective, the jurisdictional limits of tribunals, the standards of protection that an investor can expect and the conduct of the proceedings has not changed in quite as substantial a fashion. At the same time, there have been changes in the region as some states have denounced the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention), and many investors have sought to restructure their investments or claim other nationalities in order to access the investment treaty framework. It can no longer be said that investment arbitration is necessarily ICSID arbitration, even though many of the core protections have remained the same. This chapter starts with an analysis of the jurisdictional requirements that investors must meet and the changes that have occurred in recent years. We then move to an overview of the common standards of protection, reviewing each to see if it tips more heavily in favour of foreign investors of host states. We conclude with a brief commentary on the applicable arbitration rules and what parties can expect, whether it is institutional or ad hoc arbitration.



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