ITN

ITN  |  marzo 13, 2017

Resources and Events

Recursos   Treaty Shopping en el Derecho Internacional de las Inversiones Por Jorun Baumgartner, Publicado por Oxford University Press, febrero de 2017 En este libro se examina la práctica de acogerse al tratado más conveniente o treaty shopping—un cambio estratégico de nacionalidad o la invocación estratégica de otra nacionalidad con el objetivo de acceder a […]

ITN  |  diciembre 12, 2016

Noticias en Breve

(English) Trump election affects mega-regional negotiations including TTIP, TPP and RCEP

Brazil and India initial Bilateral Investment Treaty (BIT); text yet to be published

CETA signed; Canada and European Union to “work expeditiously” on creating a Multilateral Investment Court

ITN  |  diciembre 12, 2016

Laudos y Decisiones

(English) Venezuela to Pay Us$1 Billion For Expropriating Canadian Mining Company’s Investment

ICSID Tribunal dismisses MFN Clause in WTO GATS as a means of importing Senegal’s consent to arbitration from third party BIT

PCA tribunal deemed acts of Polish Agricultural Property Agency not attributable to Poland

Claimant not considered Investor due to interpretation of “Seat” under Cyprus–Montenegro BIT

Ecuador’s Levy on extraordinary oil profits at a 99% rate has breached Murphy’s legitimate expectations, decides PCA tribunal

Ecuador ordered by PCA tribunal to pay $24 million to Canadian Mining Company

ITN  |  mayo 16, 2016

Noticias en Breve

Laudos de US$50 mil millones contra Rusia en el caso Yukos desestimados por tribunal holandés

Borrador de ATCI será elaborado para julio; ISDS se basará en propuestas de Unión Europea y Estados Unidos

TBI entre China y Estados Unidos: se incluirá ISDS; negociaciones en curso sobre listas negativas

Tres disputas mineras: vienen a público las primeras controversias de inversión contra Colombia

AECG entre Canadá y la Unión Europea celebrado nuevamente en febrero para incorporar propuesta de ICS de la UE

Segunda demanda contra Uruguay ante el CIADI; decisión sobre el caso Philip Morris aún pendiente

Centro Internacional de Arbitraje de Singapur lanza reglamento de arbitraje de inversión

ITN  |  mayo 16, 2016

Awards and Decisions

(English) ICSID Tribunal Awards Damages for Venezuela’s Indirect Expropriation of Steel Industry Investment

The first ICSID case against Guinea is dismissed for lack of Jurisdiction

Slovenia is condemned to pay 20 million euros in damagesand US$10 million in costs to Croatian National Electric Company

The only known investment treaty arbitration against Equatorial Guinea fails on jurisdictional grounds

ICSID tribunal orders Zimbabwe to return expropriated farms

ITN  |  mayo 16, 2016

Resources and Events

Tratados de Inversión Suizos: Tiempos de cambio

El Sistema de Tribunales de Inversiones Puesto a Prueba: La nueva propuesta europea perpetuará los ataques de los inversores a la salud y el medio ambiente

Visiones Alternativas al Derecho Internacional de las Inversiones Extranjeras: Ensayos en honor a Muthucumaraswamy Sornarajah

Repensando los Tratados Bilaterales de Inversión: Temas clave y opciones de políticas

La OMC y el Derecho Internacional de las Inversiones: Sistemas convergentes

La Asociación Transpacífica, Parte I: Un trato que fue demasiado lejos

Impactos de la Inversión Directa de China en el Exterior sobre la Sustentabilidad: Una revisión de la literatura

Cambio de Paradigma en el Derecho Internacional de las Inversiones: Más equilibrado, menos aislado, cada vez más diversificado

ITN  |  febrero 29, 2016

Noticias en Breve

Acuerdo Transpacífico firmado en Auckland; Experto Independiente de la ONU insta a los Estados a garantizar el espacio normativo El 4 de febrero de 2016, los ministros de comercio de los países de la Cuenca del Pacífico se reunieron en Auckland, Nueva Zelanda, para firmar el Acuerdo Transpacífico de Asociación Económica (TPP, por sus siglas […]

ITN  |  febrero 29, 2016

Awards and Decisions

ICSID tribunal dismisses final claim for compensation in relation to Hungary’s 2008 termination of power purchase agreement Electrabel S.A. v. Republic of Hungary, ICSID Case No. ARB/07/1 Matthew Levine [*] A Belgian energy company—Electrabel S.A. (Electrabel)—has failed in its final claim under the Energy Charter Treaty (ECT). An International Centre for Settlement of Investment Disputes (ICSID) […]

ITN  |  febrero 29, 2016

Resources and Events

(English) Resources published between October 2015 and March 2016; events between February and April 2016

ITN  |  noviembre 26, 2015

Recursos y Eventos

Recursos publicados entre julio y octubre de 2015; eventos entre noviembre de 2015 y enero de 2016

ITN  |  agosto 4, 2015

Recursos y Eventos

Recursos Los Orígenes del Derecho Internacional de las Inversiones: Imperio, medio ambiente y la salvaguardia del capital Por Kate Miles, Publicado por Cambridge University Press, Julio de 2015 En este libro se examina la evolución del derecho internacional de las inversiones (IIL, por sus siglas en inglés), desde sus orígenes en el expansionismo político y […]

ITN  |  mayo 21, 2015

News in Brief

Comisión Europea aborda preocupación sobre el TTIP en reunión del Parlamento Europeo En una reunión celebrada el 18 de marzo de 2015 por la Comisión de Comercio Internacional del Parlamento Europeo, Cecilia Malmström, Comisionada de la Unión Europea en esta área, presentó cuatro “ideas preliminares” para abordar la preocupación pública sobre las inversiones en el […]

ITN  |  mayo 21, 2015

Laudos y Decisiones

Tribunal de la CNUDMI concluye que evaluación ambiental conducida por Canadá violó el nivel de trato mínimo conforme al derecho internacional y el estándar de trato nacional William Ralph Clayton, William Richard Clayton, Douglas Clayton, Daniel Clayton and Bilcon of Delaware Inc. v. Government of Canada, CNUDMI  Marquita Davis[*] Antecedentes En un laudo emitido el […]

ITN  |  mayo 21, 2015

Recursos y Eventos

Recursos Manual del IISD sobre la Negociación de Contratos Mineros para Países en vías de Desarrollo, Volumen I: Preparándose para el Éxito Por Howard Mann, Publicado por el International Institute for Sustainable Development, Abril de 2015 Reconociendo la necesidad de una herramienta para guiar a los países en desarrollo a lo largo de todo el […]

ITN  |  febrero 19, 2015

Awards and Decisions

Although finding largely in favour of Venezuela, ICSID tribunal awards US$1.4 billion to Exxon-Mobil for 2007 expropriations Venezuela Holdings, B.V., Mobil Cerro Negro Holding, Ltd., Mobil Venezolana de Petroleos Holdings, Inc., Mobil Cerro Negro, Ltd., and Mobil Venezolana de Petroleos, Inc. v. Bolivarian Republic of Venezuela, ICSID Case No. ARB/07/27 Matthew Levine An arbitration at […]

ITN  |  febrero 19, 2015

News in Brief

European Commission consultation shows public rejection of investor–state dispute settlement On January 13, the European Commission published a report and an accompanying memo analyzing the results of its consultation on investment protection and investor–state dispute settlement (ISDS) in the Transatlantic Trade and Investment Partnership (TTIP) under negotiation between the European Union and the United States. […]

ITN  |  febrero 19, 2015

Resources and Events

Resources IISD Best Practices Series: Performance Requirements in Investment Treaties By Suzy H. Nikièma, published by the International Institute for Sustainable Development, December 2014 The paper surveys the types of performance requirements (PRs) in use around the world, and briefly describes the WTO’s Agreement on Trade-Related Investment Measures (TRIMs). The study focuses on the meaning […]

ITN  |  noviembre 19, 2014

Awards and Decisions

Yukos shareholders awarded record damages in two separate proceedings against Russia Martin Dietrich Brauch In two separate proceedings, shareholders of the defunct Russian oil and gas company OAO Neftyanaya Kompaniya Yukos (Yukos) were awarded over US$52 billion in compensation from Russia for expropriation and due process of law violations. On July 18, 2014, an UNCITRAL […]

ITN  |  noviembre 19, 2014

News in Brief

New European Commissioners suggest that ISDS may be shut out of the TTIP The new President of the European Commission, Jean-Claude Juncker, said on October 22, 2014 that there is “no obligation” to include investor-state dispute settlement (ISDS) provisions in the trade and investment agreement under negotiation between the European Union and the United States, […]

ITN  |  noviembre 19, 2014

UNCTAD Multi-Stakeholder Meeting Seeks Reform of Investment Treaties and Investment Dispute Settlement

More than 50 high-level representatives from governments, including ministers, as well as senior business representatives, international and civil society organizations convened in Geneva, Switzerland on October 16, 2014, to address the challenges arising from international investment agreements (IIAs) and to consider ways to reform the IIA regime.[1] The conference was held during the United Nations […]

ITN  |  noviembre 19, 2014

Resources and Events

Resources The IISD Guide to Negotiating Investment Contracts for Farmland and Water By Carin Smaller, published by the International Institute for Sustainable Development, November 2014 The IISD Guide to Negotiating Investment Contracts for Farmland and Water is a legal and policy tool for governments and communities that are involved in negotiating investment contracts with foreign […]

In Accordance with Which Host State Laws? Restoring the ‘Defence’ of Investor Illegality in Investment Arbitration

Investment treaties are often criticised for being too ‘investor-friendly.’ With this in mind, it becomes important to clarify the mechanisms available to host states to defend against investment treaty claims. One such mechanism is found in the provisions included in many investment treaties, to the effect that investors must comply with host state law in order for their investment to enjoy treaty protection.

ITN  |  septiembre 4, 2014

Yukos v. Russia: Issues and legal reasoning behind US$50 billion awards

Download PDF – 682 KB Summarized in this article: Hulley Enterprises Limited (Cyprus) v. The Russian Federation (PCA Case No. AA 226) Yukos Universal Limited (Isle of Man) v. The Russian Federation (PCA Case No. AA 227) Veteran Petroleum Limited (Cyprus) v. The Russian Federation (PCA Case No. AA 228) In three awards dated 18 […]

ITN  |  agosto 13, 2014

Resources and Events

Resources World Investment Report 2014 United Nations Conference on Trade and Sustainable Development, June 2014 UNCTAD’s World Investment Report is an annual publication that focuses on trends in foreign direct investment (FDI) worldwide, at the regional and country levels and emerging measures to improve its contribution to development. The 2014 report shows that FDI inflows […]

ITN  |  agosto 13, 2014

News in Brief

Opposition to investor-state arbitration in TTIP grows The European Commission is being asked why investor-state arbitration provisions should be included in the Transatlantic Trade and Investment Partnership (TTIP), which has been under negotiation between the United States and European Union since July 2013. On July 11th, Germany’s upper parliament passed a resolution that highlights the […]

ITN  |  agosto 13, 2014

Awards and Decisions

Majority clears Peru of any wrongdoing in relation to close down of French-owned bank; dissenting arbitrator says that majority misconstrued facts and law Renée Rose Levy de Levi v. Republic of Peru, ICSID Case No. ARB/10/17, Award and Dissenting Opinion Diana Rosert A majority has rejected a claim by Renée Rose Levy, a French investor in […]

Risky Business or Risky Politics: What Explains Investor-State Disputes?

While there is a fair amount of scholarly work on the determinants of expropriation, we know less about the political and economic conditions under which the broader category of investor-state disputes take place. This article provides a statistical analysis of political and economic factors that contribute to the likelihood of an investor-state dispute; and a qualitative coding of measures which have resulted in arbitration cases.

Aron Broches and the Withdrawal of Unilateral Offers of Consent to Investor-State Arbitration

Several States have terminated bilateral investment treaties as they came up for renewal. The effectiveness of BIT termination, however, is limited by the “survival clauses” that are frequently included in IIAs. These provisions state that even after the treaty is terminated it will continue to apply to investments that were made while the treaty was in force for an additional 10 or 15 years.

ITN  |  mayo 14, 2014

Resources and Events

Resources Recent Development’s in Investor-State Dispute Settlement United Nations Conference on Trade and Development, April 2014 UNCTAD’s annual review of investor-State dispute settlement cases, part of the IIA Issues Notes series, provides up-to-date statistical data on treaty-based ISDS cases as well as an overview of arbitral decisions issued in 2013. According to the note, 57 […]

ITN  |  mayo 14, 2014

Awards and Decisions

ICSID tribunal finds jurisdiction over mining license dispute involving British and Australian companies in Indonesia Churchill Mining Plc v. Republic of Indonesia ICSID Case No. & Planet Mining Pty Ltd v. Republic of Indonesia, ICSID Case No. ARB/12/14 and ARB/12/14 and 12/40 Matthew A J Levine An ICSID tribunal has accepted jurisdiction over the consolidated […]

ITN  |  mayo 14, 2014

News in Brief

UNCITRAL launches new transparency registry The UNCITRAL Secretariat has established a transparency registry[1] that will function as a repository for the publication of information and documents in treaty-based investor-State arbitration. This follows the entry into force of the UNCITRAL Rules on Transparency in treaty-based investor-State arbitration on April 1, 2014.[2] The registry will contain information […]

ITN  |  enero 19, 2014

News in Brief

Australia changes position on investor-state arbitration in free trade agreement with Korea The Australian government has agreed to investor-state arbitration in the investment chapter of a free trade agreement with Korea, abandoning the position of the previous government which had made a decision not to sign up to such commitments. The deal, signed in December […]

ITN  |  enero 19, 2014

Awards and Decisions

Libya ordered to pay US$935 million to Kuwaiti company for cancelled investment project; jurisdiction established under Unified Agreement for the Investment of Arab Capital Mohamed Abdulmohsen Al-Kharafi & Sons Co. v. Libya and others, Final Arbitral Award Diana Rosert A tribunal has ordered Libya to pay US$935 million in a dispute over a land-leasing contract […]

ITN  |  enero 19, 2014

Resources and Events

Resources United Kingdom Assessment of the Costs and Benefits of Investment Protection Treaties United Kingdom Department for Business, Innovation and Skills, November 2013 Three new reports commissioned by the Government of the United Kingdom examine the cost and benefits of investment treaties for the UK. The first report develops an analytical framework to assess costs […]

State Liability for Regulatory Change: How International Investment Rules are Overriding Domestic Law

With governments around the world pushing efforts to negotiate and approve mega-investment treaties, it is important to be clear on just what these investment treaties do and do not mean. This article compares U.S. domestic law and international treaty rules on state liability for regulatory changes. It shows that arbitral tribunals have interpreted investment treaty rules in a manner far more favorable to the interests of investors than the approaches adopted in U.S. courts.

ITN  |  septiembre 20, 2013

Resources and Events

The BRIC States and Outward Foreign Direct Investment By David Collins, Oxford University Press, 2013 This book examines the relatively recent and under-explored phenomenon of outward foreign direct investment from the large emerging market countries, focusing on the four BRIC states (Brazil, Russia, India, and China) and on the services sector, meaning primarily telecommunications, finance, […]

ITN  |  septiembre 20, 2013

Awards and Decisions

Claim against Turkmenistan dismissed for lack of jurisdiction; claimant failed to abide by domestic litigation requirement Kılıç İnşaat İthalat İhracat Sanayi ve Ticaret Anonim Şirketi v. Turkmenistan, ICSID Case No. ARB/10/1 Damon Vis-Dunbar A Turkish claimant’s case before an ICSID tribunal has been dismissed for failing to first pursue the dispute before Turkmenistan’s domestic courts. […]

ITN  |  septiembre 20, 2013

News in Brief

South African trade minister confirms denunciation of EU BITs South Africa’s Minister of Trade and Industry, Rob Davies, confirmed that his government was terminating investment treaties with Belgium, Luxembourg and Spain because they contained “serious flaws.” Responding to a parliamentary question on the reason for terminating these agreements, Minister Davies explained that they were “poorly […]

Online Statements by National Investment Boards or Agencies and Their Potential Legal Effects

National investment boards or agencies operate in several countries with a view to attract foreign investment. Towards this objective, they often maintain websites highlighting the advantages of investing in their country. This article surveys some common categories of representations and promises made on the websites of national investment boards and discusses their potential legal implications.

Threat of Pharmaceutical-Related IP Investment Rights in the Trans-Pacific Partnership Agreement: An Eli Lilly v. Canada Case Study

There are many reasons to strike the draft TPP Investment Chapter, a chapter that restricts government sovereignty to regulate business activities while simultaneously ceding de facto regulatory power to foreign investors and private arbitrators. The Eli Lilly claim against clarifies the risks of including IP rights in investment chapters and the boundary-pushing claims that can be brought on behalf of foreign pharmaceutical companies.

New UNCITRAL Arbitration Rules on Transparency: Application, Content and Next Steps

In July 2013, the United Nations Commission on International Trade Law (UNCITRAL) adopted a package of rules aiming to ensure transparency in investor-State arbitration, ratifying the work done by delegations to UNCITRAL—comprised of 55 Member States, additional observer States and observer organizations—over the course of nearly three years of negotiations. With the adoption of the new rules, there is now a carefully negotiated and widely approved template that can serve as a model for how to conduct investor-State arbitrations transparently.

ITN  |  junio 26, 2013

Awards and Decisions

Limited breach of FET clause established in claim against Romania; No damages awarded The Rompetrol Group N.V. v Romania, ICSID Case No. ARB/06/3 Margaret Devaney In a May 6, 2013 award, an ICSID tribunal ruled that the Rompetrol Group (TRG) had established a limited breach of the Netherlands-Romania bilateral investment treaty (BIT) but had failed […]

ITN  |  junio 26, 2013

Resources and Events

Resources Investment Contracts for Farmland and Water: 10 Steps Carin Smaller, International Institute for Sustainable Development, 2013 This brief paper outlines 10 important steps to follow when negotiating investment contracts for agricultural land and water. It is intended as a resource for parliamentarians, government officials, landholders and local communities. It provides an overview of a […]

ITN  |  junio 26, 2013

News in Brief

European Commission seeks permission to begin investment treaty negotiations with China The European Commission has proposed a negotiating mandate to EU member states for an investment agreement with China. This could become the EU’s first stand-alone investment agreement since it gained jurisdiction over foreign direct investment in 2009. The negotiating mandate must be approved by […]

ITN Quarterly June 2013

PDF – English (708 KB) – Français (393 KB) – Español (689 KB) In this issue: Smart Flexibility Clauses in International Investment Agreements; The Quest for Commodities: Chinese Investment in Farmland; Investment Treaties and the Search for Market Access in China; The Draft Investment Chapter of the Canada-EU Comprehensive Economic and Trade Agreement: A Step […]

The Draft Investment Chapter of the Canada-EU Comprehensive Economic and Trade Agreement: A Step Backwards for the EU and Canada?

This brief article describes some important aspects of the draft investment chapter of the Canada-EU CETA, as well as commentary on the potential implications should Canada and EU sign on to these provisions.

The Evolving BIT: A Commentary on Canada’s Model Agreement

While the revision that gave birth to the United States’ Model bilateral investment treaty in April 2012 has been closely observed and commented upon, much less attention has been paid to changes made to the Canadian Model BIT.

Investment Treaties and the Search for Market Access in China

The inclusion of market access commitments in investment agreements has proven divisive. This article looks at where China stannds on this issue.

The Quest for Commodities: Chinese Investment in Farmland

China is often singled out as one of the big ‘land grabbers’, although it strongly refutes these claims. We set out to verify whether reports about Chinese investments were accurate or not.