Download or read book To what Extent Would the Establishment of the Multilateral Investment Court Enhance the Institutional Legitimacy of Investor state Dispute Settlement written by Kian O'Connell and published by . This book was released on 2020 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Permanent Investment Courts written by Güneş Ünüvar and published by Springer Nature. This book was released on 2020-09-17 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special issue focuses on the opportunities and challenges connected with investment courts. The creation of permanent investment courts was first proposed several decades ago, but it has only recently become likely that these proposals will be implemented. In particular, the European Commission has pushed for a court-like mechanism to resolve investment disputes in various recent trade and investment negotiations. Such a framework was included in some free trade agreements (FTAs) and investment protection agreements (IPAs) the European Union (EU) signed or negotiated with Vietnam, Singapore, Mexico and Canada. While it was shelved long before the publication of this Special Issue, the European Commission had also formally proposed a court system during the negotiations for the Transatlantic Trade and Investment Partnership (TTIP) agreement with the United States. The issue of a Multilateral Investment Court (MIC) has also been prevalent at the Working Group III proceedings of the UNCITRAL on investor-State dispute settlement reform, attracting scholarly and public attention.Will these developments lead to the creation of permanent investment courts? How will such courts change the future of international investment law? Will they bring about a real institutional change in adjudicatory mechanisms? Will they introduce a 'hybrid' system, which borrows important characteristics from both arbitration and institutional methods of international adjudication? How will the enforcement mechanisms work, and under which rules of ethics will its adjudicators function and exercise their duties? This special issue brings together leading scholars sharing a common interest in investment courts to address these questions.
Download or read book Multilateral Reform of Investor State Dispute Resolution Mechanism written by Peng Wang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Investor-State Dispute Settlement (ISDS) system comes at crossroad. In context of ISDS reform, the Public-Private Debate surrounding international investment agreements (IIAs) could be specified as a balance between public legitimacy and private efficiency, tempering tensions between fast and fair resolution of investment disputes. From the perspective of fast resolution, party autonomy and cost management of the ISDS system should be retained and refined. From the perspective of fair resolution, ex ante (in-put) legitimacy and ex post (out-put) legitimacy should be enhanced to manage the procedural and substantive deficits, by establishment of state's appointed arbitrator-roster and restricted review of awards by a permanent annulment committee. Therefore, this article proposes a Chinese perspective on Multilateral Investment Dispute Resolution (MIDR) system of balance between public legitimacy management and private efficiency refinement. The institutional structure of MIDR should be of internal balance, moderating three tensions between state and arbitrator, between investor and host state, and between state and arbitral tribunal during ex ante and ex post process of dispute resolution. The process of establishment of MIDR should be of external balance, moderating tensions between procedure and substance of MIDR, between MIDR and existing institutions, and between legal rights of MIDR stakeholders and political will of leading states.
Download or read book Towards a Reform of the Investor State Dispute Settlement An Assessment of the Innovation Route written by Cosimo Marcantuono and published by . This book was released on 2023-01-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2022 in the subject Law - European and International Law, Intellectual Properties, grade: 19/20, Leuven Catholic University, language: English, abstract: After a long journey, the Court of Justice of the European Union (CJEU) finally opened to an external system of judicial review. Indeed, despite the CJEU's historically notorious lack of openness towards an Investment Court System (ICS), a positive attitude was expressed in the opinion (C-1/17). This new attitude assumes a high degree of relevance in the discussions for a reform of the current Investor-State Dispute Settlement mechanism (ISDS), whose recursive criticalities will be by this paper investigated. In relation to the latter, the effectiveness of the proposed reforms will be analysed to contribute to the discernment as to which of the reform alternatives would be most effective. The analysis that will be carried out will begin by illuminating points of conflict with the interests involved in the current system. Consequently, the reforms proposed and currently being negotiated to resolve these issues will be analysed in order to (i) verify the manner in which they propose to offer a solution to the aforementioned criticalities; and (ii) assess which of the reform alternatives is best suited in terms of effectiveness and associated risks both in terms of coordination with the existing system and scope innovativeness. In framing the reform framework under negotiation, the analysis will devote particular attention to the debate on the most suitable of the alternatives between (i) the creation of a stand-alone court of appeal and (ii) the creation of a two-tier 'multilateral investment court' (MIC).
Download or read book Creation and Implementation of a Multilateral Investment Court written by Julian Scheu and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the ongoing reform process for investor-state dispute settlement in UNCITRAL Working Group III, in particular the proposal to create a multilateral investment tribunal (MIC). The book covers key elements of the MIC proposal, such as the institutional framework of the court, the design of an appeals mechanism, the use of class-law settlement procedures, and the establishment of an advisory center for developing countries. In addition, the selection and appointment of judges is discussed. It also explores the following questions: How can the MIC be integrated into the existing ISDS system? How can the implementation of its decisions be ensured? Each chapter highlights the legal issues to be discussed and places them in a larger context to offer an understanding of the core questions and how they are related to each other..
Download or read book Creation and Implementation of a Multilateral Investment Court written by Julian Scheu and published by . This book was released on 2022-05-26 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Popular Legitimacy of Investor state Dispute Settlement written by Marius Dotzauer and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book offers theoretical arguments and original empirical data on the legitimacy of the investor-state dispute settlement system in the eyes of the general public. The legitimacy of the investor-state dispute settlement (ISDS) system has become a major issue in recent negotiations on new trade and investment agreements, such as the Transatlantic Trade and Investment Partnership (TTIP), the Comprehensive Economic and Trade Agreement (CETA), and the Trans-Pacific Partnership Agreement (TPP). This book considers the remarkable rise of investor-state arbitration, its politicization and the corresponding legitimacy crisis that has induced a political process of ISDS reform. The book applies theoretical arguments about legitimacy perceptions among the mass public and tests these arguments in survey experiments in Germany, France, and the United States to answer the question of whether ISDS reform can be successful. By showing that large parts of the population hold negative perceptions about the current system of private arbitration and believe that an international investment court and domestic courts are more legitimate dispute resolution systems, the book extends the debate on the legitimacy of the ISDS mechanism, which has so far been dominated by conflicting normative claims of supporters and critics. With regard to the academic debate about legitimacy in global governance, the author underlines that the legitimacy perceptions of ordinary citizens must be taken seriously to ensure the sustainability of global governance and international law in the long term. This book will be of interest to academics working in international relations, international political economy, international law, transnational law, authority, politicization, and legitimacy of global governance. It will also be of great use to practitioners in the field of international investment law, including lawyers, and government officials working in international dispute settlement"--
Download or read book Dispute Settlement and the Reform of International Investment Law written by Chen Yu and published by Edward Elgar Publishing. This book was released on 2023-08-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The reform of the Investor-State Dispute Settlement (ISDS) mechanism has become one of the more controversial issues in the study of international investment law. This concise and insightful book studies the role of the ISDS mechanism in the legalization, and legitimacy, of the international investment law regime. Providing a fresh, interdisciplinary perspective on ISDS through the constructivist theory of international relations, this book argues that reforming ISDS can contribute to the legalization of international investment law, but such a contribution is subject to both "institutional" and "internal" limitations. Chapters investigate the notion of legalization in the context of international investment law, the limitations of adjudicative bodies in advancing the legitimacy of international law, and the relationship between the level of shared understandings and choices of institutionalization. Based on comparative studies of international regimes, this book cautions against radically institutionalizing the dispute settlement regime through the establishment of the multilateral investment court. The novel perspectives presented in this book will be of interest to scholars and researchers in arbitration and dispute resolution, international economic law, and investment law. It will also be beneficial to legal experts in international organizations working on the reform of ISDS and investment law.
Download or read book The Multilateral Investment Court written by Rhea Tamara Hoffmann and published by . This book was released on 2019 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the last years, reforming the international investment law regime has been a key priority of the trade agenda of the European Commission. Two important decisions in March 2018 can either be seen as a stepping stone or stumbling block in this regard.On 20 March 2018, the Council authorised negotiations for a treaty establishing a multilateral investment court (MIC). This proposal was yet the latest step in a series of activities aimed at replacing the traditional arbitration system of dispute settlement in investment treaties (Investor-State Dispute Settlement, ISDS) with a treaty-based MIC. The latest development concerns the multilateralization of the Investment Court System leading to a MIC. After lobbying for this approach in various intergovernmental fora, the Commission developed a more concrete proposal over the course of 2016 and the first half of 2017. Last year, the ISDS debate moved into the auspices of UNCITRAL Working Group III. Neither the negotiation mandate nor the UNCITRAL mandate touch upon substantive investment standards or refer to the current debates and negotiations on business and human rights. The negotiations will therefore not address any substantive elements of investment treaties. In all likelihood, they will also not address procedural issues such as counterclaims, participation rights of affected stakeholders, presumption of responsibility or burden of proof. The second important decision was taken two weeks earlier by the Court of Justice of the European Union (CJEU) on 6 March 2018. In its ruling in the case C-284/16 Achmea, the CJEU clarified that investment agreements between EU Member States (so-called intra-EU BITs) that have an ISDS clause violate EU law. It is not quite clear whether the CJEU would also transfer its view to other agreements such as CETA or the planned treaty for a MIC. However, the ruling indicates that any investment agreement providing for dispute settlement procedures in which EU law can be applied or interpreted and which does not ensure a review of this interpretation by the CJEU is in breach of EU law.
Download or read book China the EU and International Investment Law written by Yuwen Li and published by . This book was released on 2019-11-11 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an original and critical analysis of the most contentious subjects being negotiated in the China-EU Comprehensive Agreement on Investment (CAI). It focuses on the pathway of reforming investor-state dispute settlement (ISDS) from both Chinese and European perspectives in the context of the China-EU CAI and beyond. The book is divided into three parts. Part I examines key and controversial issues of the China-EU CAI negotiations, including market access, sustainable development and human rights, as well as comparing distinct features between the China-EU CAI and the China-US BIT. Part II concentrates on the institutional reform of investor-state arbitration with an extensive analysis of the EU's approach to replacing the private nature of investment arbitration with the public nature of an investment court. Part III addresses the core substantive and procedural issues concerning ISDS, such as the role of domestic courts in investment dispute settlement, the status of state-owned enterprises (SOEs) as investors, transparency and the protection of victims in investment dispute resolution. This book will be of interest to scholars and practitioners in the field of international investment and trade law, particularly investment dispute settlement.
Download or read book Rethinking Investor State Arbitration written by Flavia Marisi and published by Springer Nature. This book was released on 2023-10-18 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: A significant increase in investor-State arbitration cases has been observed since the 2000s. The trust placed by investors and States in this method of dispute resolution stems from several strengths. In addition to its neutrality, one of the primary reasons for its widespread use is its adaptability, enabling it to address specific challenges that have emerged in recent decades. The following elements highlight this adaptability: the arbitration procedure can be customised to meet the specific needs of the disputing parties and stakeholders involved. It effectively responds to evolving cultural norms and ethical considerations, such as diversity, gender representation, corporate social responsibility, environmental issues, and human rights. Moreover, it can adapt to global health crises by facilitating online hearings. Finally, during times of international armed conflict, economic exchanges, trade, investment, and investor-State dispute settlement foster economic integration and interdependence, contributing to maintaining commercial peace and supporting international peace and security. However, investor-State arbitration has sparked vigorous debates, with many advocating for reform in three crucial aspects: transparency, legitimacy, and consistency. Multilateral negotiations are currently underway on various fronts, including the negotiation of more sustainable investment treaties, amendments to institutional arbitral rules, the design of a multilateral investment court, and the development of enhanced policy frameworks. This book delves into the history of investor-State dispute resolution to provide readers with an understanding of how its main features have evolved over time. It examines the most intensely debated procedural issues, analyses their multifaceted characteristics, reviews the complex relationship between investor-State arbitration and the European Union, and explores potential options for addressing stakeholder concerns.
Download or read book A World Court for Corporations written by Rosa-Luxemburg-Stiftung and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jacket: European Commission proposal for a global investor court for investorstate dispute settlement (ISDS) – known as the Multilateral Investment Court – threatens to enshrine, expand, and entrench the current system of corporate privilege in future trade deals. A world court for corporations would be the capstone in the architecture of corporate impunity, undermining democratic institutions and lawmaking, and worsening the power imbalance that grants rights, protections, and compensation to corporations at the expense of the public interest.
Download or read book Creation and Implementation of a Multilateral Investment Court written by Julian Scheu and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the ongoing reform process for investor-state dispute settlement in UNCITRAL Working Group III, in particular the proposal to create a multilateral investment tribunal (MIC). The book covers key elements of the MIC proposal, such as the institutional framework of the court, the design of an appeals mechanism, the use of class-law settlement procedures, and the establishment of an advisory center for developing countries. In addition, the selection and appointment of judges is discussed. It also explores the following questions: How can the MIC be integrated into the existing ISDS system? How can the implementation of its decisions be ensured? Each chapter highlights the legal issues to be discussed and places them in a larger context to offer an understanding of the core questions and how they are related to each other.
Download or read book The International Investment Regime and Investor State Dispute Settlement written by Mark Jennings and published by . This book was released on 2016 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Its starting point is the global debate on the legitimacy of the treaty-based regime for the promotion and protection of international investment and investor-State dispute settlement (ISDS). The article considers that the debate will promote constructive change if it is informed by States and it informs States. It addresses key issues in the debate: transparency in the negotiation of investment agreements and in the conduct ISDS proceedings; protecting the scope for regulatory action by States; the obligation on States to provide fair and equitable treatment to investors and investments; the challenges posed by the 'first generation' of bilateral investment agreements; and the utility of establishing ISDS appellate mechanisms. The article contends that States can and should act to strengthen the international investment regime. The article concludes that States, as the creators of the regime, ultimately bear the primary responsibility for its legitimacy.
Download or read book Cutting the Gordian Knot written by Stephan W. Schill and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the different approaches proposed for investment dispute settlement reform by major players in the global North and global South - ranging from incremental changes that respond to specific criticisms of the present-day investor-state dispute settlement system to the development of far-reaching institutional reforms, such as the establishment of a multilateral investment court. We observe considerable convergence of the main models on the objectives of reform and on many procedural features. In respect of dispute settlement design, by contrast, the main models are mutually incompatible. Drawing on the dispute settlement design under the United Nations Convention for the Law of the Sea (UNCLOS), we introduce, as a solution for the way forward, the idea of “dispute settlement à la carte“. This refers to a model that allows states to choose, under the umbrella of a common framework, among different modes of investment dispute settlement. This would encompass the creation of a multilateral investment court to whose jurisdiction states and organisations can voluntarily submit, but also provide states with the option of continuing to use investor-state arbitration or inter-state arbitration to settle investment disputes. Such a model could provide a common framework for investment dispute settlement reform, allowing different states and organisations to pursue different structural models for investment dispute settlement, while providing them with a platform that promotes convergence where possible. This would ensure representativeness of the regime and a degree of interpretative unity and safeguard the ability of states and organisations to shape their reciprocal obligations.
Download or read book Draft Statute of the Multilateral Investment Court written by Marc Bungenberg and published by . This book was released on 2021-02-15 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU is aiming for a Multilateral Investment Court (MIC) to replace the existing investment arbitration system. Based on the current debates in UNCITRAL and other fora this Draft Statute of an MIC demonstrates that it is possible to have a new system of dispute settlement. For the first time, a complete draft agreement is presented for the design of such an MIC as a new international organization, implementing strict rule of law-requirements for dispute settlement. Besides rule of law-considerations, cornerstones are reduced costs, a permanent bench of judges with an appellate system, transparency, more consistency in case law as well as the effective enforceability of MIC decisions.
Download or read book Politicization of a Future International Investment Tribunal s Appointment and How to Avoid it written by Lukas F. Innerebner and published by . This book was released on 2019 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1965, the World Bank promoted the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) with the aim of filtering any political and diplomatic influence out of international investment disputes. This aim was achieved by lending several features from commercial arbitration. Today, after a successful launch phase of the Convention's mechanism, the benefit of the current investor-state dispute settlement system is de-bated. Lack of legitimacy, interference with the states' right to regulate in the public interest and doubts about the arbitrator's impartiality are some examples of the most frequently voiced concerns. Several different solutions, reaching from an investment court under the CETA for the EU-Canadian disputes to a truly multilateral court available to an open number of states, have been put forward. Most of the suggested roads leading out of the ISDS crisis provide for the establishment of a standing court. Scholars primarily argue that those models bear the risk of re-politicizing the controversies. This essay assesses, based on a comparative approach, whether the concern of re-politicization is justified. For such purpose, it focuses on the areas that are particularly threatened by apossible interference of the states' political powers: the appointment ofthe judges and their independence and impartiality requirements. The outcome of the analysis does not promise well for the future investment court. The experience of other standing courts and tribunals show that a certain degree of political influence cannot be excluded. It would rather seem that the states do not even wish to create a completely depoliticized system. In addition, as this study shows, an investment court could also widen the room for judges to introduce their political beliefs into the decision-making process.
