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Vol 21 No 9 Sept/Oct 2016

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Goode on Commercial Law

Edited by: Ewan McKendrick
Price: £170.00

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Building International Investment Law: The First 50 Years of ICSID

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Edited by: Meg Kinnear

ISBN13: 9789041161338
Published: December 2015
Publisher: Kluwer Law International
Country of Publication: The Netherlands
Format: Hardback
Price: £156.00

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The International Centre for Settlement of Investment Disputes (ICSID) is the premier international investment arbitration facility in the world. In its half-century of existence ICSID has administered more than 525 cases with parties, counsel, arbitrators, and conciliators from virtually every country in the world. Collectively, ICSID jurisprudence has defined international investment law. This volume celebrates the first 50 years of ICSID by presenting the landmark cases that have been decided under its auspices. These cases have addressed every aspect of investment disputes: jurisdictional thresholds; the substantive obligations found in investment treaties, contracts, and legislation; questions of general international law; and a number of novel procedural issues. Each chapter, written by a knowledgeable expert on the chapter’s particular focus, looks at an international investment law topic through the lens of one or more of these leading cases, analysing what the case held, how it has been applied, and its overall significance to the development of international investment law. These topics include:

  • applicable law;
  • res judicata in investor-State arbitration;
  • notion of investment;
  • investor nationality;
  • consent to arbitration;
  • substantive standards of treatment;
  • consequences of corruption in investor-State arbitration;
  • State defenses
  • counter-claims;
  • assessment of damages and cost considerations;
  • ICSID Arbitration Rule 41(5) objections;
  • mass claims, consolidation and parallel proceedings;
  • provisional measures;
  • arbitrator challenges;
  • transparency and amicus curiae; and
  • annulment.
Because the law of international investment continues to grow in importance in an ever more globalizing world, this book is more than a fitting way to mark the past 50 years and to welcome the next 50 years of development. It will prove both educational for practitioners new to the field and informative for seasoned investment lawyers. Moreover, the book itself is a landmark that will be of great value to professionals, business people, scholars and students interested in international investment law.

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International Investment Law
Editors v
Contributors vii
Preface li

PART I General Principles 1
CHAPTER 1 Applicable Law under the ICSID Convention: The Tortured History of the Interpretation of Article 42 W. Michael Reisman & Mahnoush H. Arsanjani 3
CHAPTER 2 Rules of Interpretation and Investment Arbitration Laurence Boisson de Chazournes 13
CHAPTER 3 The Use of the ILC’s Attribution Rules in Investment Arbitration James Crawford & Paul Mertenskötter 27
CHAPTER 4 On Burden and Standard of Proof Gary B. Born 43
CHAPTER 5 Res Judicata Charles N. Brower & Paula F. Henin 55
CHAPTER 6 Precedent & Jurisprudence Constante Abdulqawi Ahmed Yusuf & Guled Yusuf 71

PART II Jurisdiction 83
CHAPTER 7 The Tipping Point Jan Paulsson 85
CHAPTER 8 The Long March towards a Jurisprudence Constante on the Notion of Investment Emmanuel Gaillard & Yas Banifatemi 97
CHAPTER 9 Legality of Investment Jean Kalicki, Dmitri Evseev & Mallory Silberman 127
CHAPTER 10 Criteria to Determine Investor Nationality (Juridical Persons) Pierre Tercier & Nhu-Hoang Tran Thang 141
CHAPTER 11 Criteria to Determine Investor Nationality (Natural Persons) Christoph Schreuer 153
CHAPTER 12 Continuous Nationality Rule in Investor-State Arbitration Piero Bernardini 163
CHAPTER 13 Restructuring Investments to Achieve Investment Treaty Protection Stephen Jagusch, Anthony Sinclair & Manthi Wickramasooriya 175
CHAPTER 14 The Meaning of “Foreign Control” under Article 25(2)(B) of the ICSID Convention V.V. Veeder & Andrew Legg 191
CHAPTER 15 Indirect Shareholder Claims Gabriel Bottini 203
CHAPTER 16 Preconditions to Arbitration and Consent of States to ICSID Jurisdiction Pierre-Marie Dupuy 219
CHAPTER 17 Waiver of Local Remedies and Limitation Periods Andrea K. Bjorklund 237
CHAPTER 18 Maffezini v. Plama: Reflections on the Jurisprudential Schism in the Application of Most-Favored-Nation Clauses to Matters of Dispute Settlement Stephan W. Schill 251

PART III Standards of Protection 267
CHAPTER 19 The Minimum Standard of Treatment, Glamis Gold, and Neer’s Enduring Influence Jeremy K. Sharpe 269
CHAPTER 20 Fair and Equitable Treatment: Legitimate Expectations and Transparency Lucy Reed & Simon Consedine 283
CHAPTER 21 Fair and Equitable Treatment: Denial of Justice Margrete Stevens & Doak Bishop 295
CHAPTER 22 Arbitrary and Discriminatory Treatment Vaughan Lowe 307
CHAPTER 23 The Evolution of the Full Protection and Security Standard Stanimir A. Alexandrov 319
CHAPTER 24 Property Rights as the Object of an Expropriation Zachary Douglas 331
CHAPTER 25 Indirect Expropriation L. Yves Fortier & Stephen L. Drymer 349
CHAPTER 26 Effective Means to Assert Claims and Enforce Rights Oscar M. Garibaldi 359
CHAPTER 27 The Umbrella Clause Andrés Rigo Sureda 375
CHAPTER 28 National Treatment August Reinisch 389
CHAPTER 29 Most-Favored-Nation Treatment: Substantive Protection David D. Caron & Esmé Shirlow 399
CHAPTER 30 Performance Requirements Barton Legum & Ioana Petculescu 415

PART IV Exceptions, Defenses and Counterclaims 431
CHAPTER 31 The Consequences of Corruption in Investor-State Arbitration Carolyn B. Lamm & Andrea J. Menaker 433
CHAPTER 32 Police Powers or the State’s Right to Regulate Alain Pellet 447
CHAPTER 33 Denial of Benefits after Plama v. Bulgaria Mark Feldman 463
CHAPTER 34 Defenses Based on Necessity under Customary International Law and on Emergency Clauses in Bilateral Investment Treaties Peter Tomka 477
CHAPTER 35 Countermeasures and Investment Arbitration Donald McRae 495
CHAPTER 36 Counterclaims Anne K. Hoffmann 505

PART V Valuation and Cost Considerations 521
CHAPTER 37 Assessing Damages: Valuation Standards John Y. Gotanda 523
CHAPTER 38 The Impact of Contributory Investor Conduct: Only with Difficulty Commensurable Mark Kantor 533
CHAPTER 39 Allocation of Costs Donald Francis Donovan 555
CHAPTER 40 Security for Costs: Authority of the Tribunal and Third-Party Funding Eduardo Zuleta 567

PART VI Procedural and Other Matters 583
CHAPTER 41 The Role of Dissenting Opinions Albert Jan van den Berg 585
CHAPTER 42 ICSID Arbitration Rule 41(5) Objections Antonio R. Parra 593
CHAPTER 43 Consolidation and Parallel Proceedings Eduardo Silva Romero 601
CHAPTER 44 And Others: Mass Claims in ICSID Arbitration Veijo Heiskanen 613
CHAPTER 45 Interim/Provisional Measures Brigitte Stern 627
CHAPTER 46 Quo Vadis Disqualification? Marc Lalonde 641
CHAPTER 47 Conflict of Interest for Arbitrators and/or Counsel Philippe Sands 655
CHAPTER 48 A Case for Transparency in Investment Arbitration Toby Landau & Romesh Weeramantry 669
CHAPTER 49 Amicus Curiae in ICSID Arbitration J. Christopher Thomas 685
CHAPTER 50 Annulment Hi-Taek Shin 699

Index 715