The number of bilateral investment treaties has increased substantially over the last two decades reaching almost 2,500 involving 180 countries. Different from state-to-state dispute settlement procedure used in traditional treaties, investor-state arbitration has become the common feature of modern investment treaties. That is, foreign investors are entitled to invoke direct claims against the host state in violation of investment treaties through international arbitration.
Investment arbitration has evolved rapidly. But at the same time, it has brought significant controversy in legal, political and civil society. As a green field, investment arbitration has close links with international commercial arbitration and public international law. Practically, the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), and Ad Hoc tribunals established under the arbitration rules of procedures of the United Nations Commission for International Trade Law (UNCITRAL) are the most popular venues for investment dispute resolutions. Besides, the importance of certain non-governmental arbitration institutions in investment disputes, such as the International Chamber of Commerce (ICC), the Arbitration Institute of the Chamber of Commerce in Stockholm (SCC) and the International Chamber of Commerce or the London Court of International Arbitration (LCIA) is also on the rise.
In this semester, we will focus on issues on investment arbitration. The key fundamental principles and operation of investment arbitration would be discussed from academic and practical point of views.
Tentative topics to be discussed are as follows:
1. Dispute resolution provisions in bilateral investment treaties
2. The nature of the legal rights in investment arbitrations and interpretation of bilateral investment treaties
3. Systemic distinction and links between investment treaty arbitration and international commercial arbitration
4. Jurisdiction and admissibility in investment arbitration (e.g. unlawful or bad faith conduct as a Bar to Claims in investment arbitration)
5. The role, function and qualification of arbitrators in investment arbitration
6. The applicable law and non-investment consideration in investment arbitration
7. Interim measure, transparency and public access in investment arbitration
8. Annulment of arbitral awards in investment arbitration
9. Remedies in investment arbitration: Compensation
10. Recognition and enforcement of arbitral awards
|1. Class sessions will be conducted by lectures, students’ presentations and general discussions.
2. Each student is required to pick up a topic and make presentation in class. The topic shall be approved by the instructor in advance.
3. The Power-Point slides should be delivered to the instructor, teaching assistant and students via e-mail and ceiba three days prior to presentation.
4. Each student is required to write a term paper at the end of the semester. The topic of the term paper needs to be approved by the instructor. The 10-page full-paper should use blue book citation.
5. Attendance for all classes and active class participation are strongly encouraged. In no event, the participants should miss two classes without good reason.
6. The course evaluation will be based on three parts: class participation (including attendance 20% and discussion 30%), presentation (25%) and final term paper (25%).
All parts of the requirements shall be met by students. If one of the requirements is not met (e.g. without submitting the term paper or make paper presentation), no course grade will be given by the instructor.