Arbitration of overseas investment disputes is one of the fastest growing areas of international dispute resolution. The exponential growth of international investment in recent years has led to the signature of over two thousand Bilateral Investment Treaties (BITs) between foreign states, in addition to a wealth of multilateral treaties and other forms of concession agreements. Disputes that have arisen are often resolved through the forum of international
arbitration, and typically involve claims by an investor company for compensation when an investment has been illegally expropriated or adversely affected by the state's activities.
The legal principles that have developed in this area are subject to intense debate, and are still in a state of flux. While tribunals routinely state that they are applying principles of public international law to determine disputes, many of the principles applied have only been developed recently in the context of investment treaty arbitrations, and tribunals are often guided more by the approaches taken by other tribunals, than by pre-existing doctrines of public international law. However,
the volume of law created, applied and analysed by tribunals is such that it is now possible to begin the necessary process of codification. International Investment Arbitration:Substantive Principles is an important step in this process. The book provides a detailed analytical survey of the
developing substantive principles which are being applied to disputes by international investment tribunals. It considers the key questions that arise, and provides a clear description of the present state of the law as reflected in tribunal practice. The book examines the main treaties, analyses published investment awards, and provides in-depth coverage of where investment disputes come from; who is a foreign investor, including nationality issues and foreign control; what is an investment;
investor's rights, including admission to territories and State treatment of investors; expropriation; compensation; dispute resolution; transfer, assignment and subrogation; and future trends.
As the volume of international investment arbitration grows, international law firms are increasingly having to acquire expertise in all aspects of this specialised and rapidly developing field. Written by a leading author team from Herbert Smith and Gibson, Dunn & Crutcher, and benefiting from the public and private international law experience of Professor Campbell McLachlan, this book is an essential reference work for international arbitration counsel, arbitrators, and
academics.
Rezensionen / Stimmen
"This is now the first place for the international lawyer to go when confronting a new problem of relations between States and foreign investors. The subtitle - "Substantive Principles" - is important. Much interesting literature has been produced on investment arbitration as a process, but here is an attempt to derive the normative cores of the rapid output of awards during the last decade. The result is all the more valuable because the authors aim for accuracy,
not conversion." * Jan Paulsson, Head of International Arbitration and Public International Law, Freshfields Bruckhaus Deringer; President, London Court of International Arbitration * "This is an impressive analysis of the principles of international law and practice developing from the growing body of arbitral awards dealing with investor-state disputes. It provides a finely constructed explanation of the current state of investment law as applied by these tribunals, striking a well-judged balance between scholarly and practical discussion. It is a particularly welcome addition to my library." * Martin Hunter, Barrister, Essex Court Chambers; Professor of International Dispute Resolution Nottingham Law School; FCIArb * "This is an excellent work which will be indispensible to anyone - arbitrator, counsel or academic - concerned with international law on foreign investment." * Christopher Greenwood Q.C. CMG, Essex Court Chambers * "For anyone wanting to do serious work in the field of investment arbitration, this book is an essential reference work." * Richard Happ, Luther Rechtsanwaltsgesellschaft , in German Arbitration Journal * In addition to the first-rate scholarly legal analytical treatise that takes up the major part of the book, these appendices provide a highly practical and unique tool for anyone involved or interested in the topic. * Giovanni Cogliandro, International and Comparative Law Quarterly 57 (3) * Excellent textbook. It covers all essential principles of investment arbitration . It is a very helpful reference for international investment courses...This book is nicely illustrated and these representations are helpful, adequately explained and never needlessly complicated * Professor Chaisse, Assistant Professor, Chinese University of Hong Kong * Excellent textbook. It covers all essential principles of investment arbitration. It is a very helpful reference for international investment courses...This book is nicely illustrated and these representations are helpful, adequately explained and never needlessly complicated. * Professor chaisse, Assisitant Professot, Chinese University of Hong Kong, 2010 * A useful guide not only for novices in the field of investment law, but also for experienced practitioners since they represent a powerful reference tool...Easy to read and gives a clear and comprehensive presentation of the issues under review. This book proves to be a very useful instrument for both academics and practitioners ingeniously combining theoretical and practical approaches...Anyone interested in international investment law and investment arbitration
will find this book or exceptional value. Equally useful for counsel representinginvestors and states, arbitrators and negotiators of investment treaties, as it contains excellent information and references, as well as pertinent commentaries and stimulating ideas * Crina Baltag, Queen Mary University of London *
Campbell McLachlan QC is Professor of Law at Victoria University of Wellington, specializing in public and private international law. Educated at Victoria (LL.B (Hons), 1984), and at the University of London (Ph D (1988)), he holds the Diploma cum laude of the Hague Academy of International Law (1985). Until his return to New Zealand in 2003, Campbell was in practice in London, where he was a partner in the international law firm Herbert Smith. He led the
firm's International Law Practice Group, and conducted many cases involving sovereign states. He has been Rapporteur of the International Law Association Committee on International Civil and Commercial Litigation (1992-2002) and Chair of the IBA International Litigation Committee (2001-2003). In 2005, he was
invited to become an editor of the 14th edition of Dicey and Morris on the Conflict of Laws, with special responsibility for arbitration and foreign currency obligations.
Laurence Shore specializes in international commercial arbitration and litigation. He has practised at the U.S. State Department and the Washington, D.C., law firm Williams & Connolly, appearing as advocate in cases before the U.S. Federal, State, and Administrative Courts. He has acted as advocate in significant arbitrations under, for example, the UNCITRAL, ICC, and AAA Rules.
Laurence has advised on matters of public and private international law, and United States law. His experience in London and the U.S. has enabled him to act successfully in matters such as Hague Convention Letter of Request proceedings in England, arising out of U.S. tobacco litigation.
Matthew Weiniger QC is a solicitor advocate who specializes in international arbitration and public and private international law. He acts and advises in international cases across all major industries. He has extensive experience as an advocate in arbitration cases. Many of his cases involve governments. He has worked under all the major arbitration systems including the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), International Centre for
Settlement of Investment Disputes (ICSID), Stockholm Chamber of Commerce (SCC), and the United Nations Commission on International Trade Law (UNCITRAL) Rules. He also has advised energy companies and governments on the public international law aspects of transnational infrastructure projects. Matthew
lectures on arbitration and public international law, and is a visiting professorial fellow at the Centre for Commercial Law Studies, Queen Mary University of London.
Autor*in
Essex Court Chambers and Professor of Law, Victoria University of Wellington
Partner, Herbert Smith, and Professor of Arbitration at Queen Mary University of London
Partner, Linklaters, and Professor of Arbitration at Queen Mary University of London
