This article examines a contract-based dispute, P&ID v. Nigeria, which highlights issues of corruption and lack of transparency in this type of dispute settlement. It concludes that, given the significant public interests at stake in investor–state arbitration, including the possibility that arbitration may facilitate the corrupt transfer of public funds to private actors, they should not be conducted in private.
This work seeks to address the need for a detailed study that investigates and analyzes the sources, the content, the characteristics and the evolution of the law of state responsibility for breaches of investment contracts.
The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds
A majority tribunal at the Additional Facility (AF) of the International Centre for Settlement of Investment Disputes (ICSID) dismissed the case of Spanish construction company Grupo Francisco Hernando Contreras, S.L. (Contreras Group) against Equatorial Guinea, in an award dated December 4, 2015.
Access to water is the driving force behind the surge in foreign investment in farmland. Yet, with all the focus on “land grabbing” and food security, water issues have received little attention. It is vital to understand all applicable legal regimes and the rights of all stakeholders.
National investment codes may function as potential sources of international investment law. In other words, states may make unilateral undertakings within the framework of national investment legislations and, as a result, be considered as having “created international obligation[s]”. The addressees of national investment legislations are foreign investors as well as the state that is itself […]
Principles for responsible contracts: Integrating the management of human rights risks into State-investor contract negotiations
The UN shines a spotlight on business and human rights In July 2005, the then United Nations Secretary-General Kofi Annan appointed John Ruggie as his Special Representative on Business and Human Rights. Ban Ki-Moon continued the appointment, and this June Ruggie delivered his final report to the Human Rights Council. Ruggie’s mandate is highly significant […]
The public began to hunger for information about investment in the agriculture sector when a massive wave of foreign investment in farmland and water was triggered, in 2008, by a confluence of the biofuels boom, global food crisis, sharp spike in oil prices and the financial crisis. Alarming information started to emerge in the media. […]
In recent years, economic liberalisation, improved transport and communication systems, and the global demand for energy, minerals and agricultural commodities have fostered investment in agriculture, mining and petroleum projects in many poorer countries. For some commentators, this trend provides new opportunities to promote growth, generate public revenues and create employment in countries that have limited […]
The oil and gas industry faces increasingly strict environmental standards in developed countries. However, the majority of the world’s proven oil reserves are in developing countries and economies in transition, which often lack sophisticated regimes for environmental protection. Even when legislative frameworks are well developed, there are often deficiencies in capacity and an unwillingness to […]
Ecuador hallado culpable por violación de contratos de compraventa de energía eléctrica y tratado de inversión
Por Damon Vis-Dunbar 29 de Agosto de 2008 El proveedor de electricidad Electroquil SA fue otorgado US$ 5.578.566 más intereses producto de varias violaciones de contratos de compraventa de energía eléctrica (en inglés, PPAs) respaldados por el gobierno de Ecuador. Si bien Ecuador también fue encontrado culpable por haber infringido el tratado bilateral de inversiones […]
Occidental Petroleum Corporation and Occidental Exploration and Production Company v. the Republic of Ecuador: US oil company passes jurisdictional hurdle in arbitration with Ecuador
By Damon Vis-Dunbar 22 September 2008 A tribunal has accepted jurisdiction in a dispute that pits two petroleum companies against the Government of Ecuador, allowing the case to proceed to the merits stage. The two claimants, Occidental Petroleum Company (OPC) and Occidental Exploration and Production Company (OEPC), are seeking more than US$ 3 billion after […]