The relationship between State regulatory measures and the international standards of protection for foreign investments has proved to be a critical issue in investor-State arbitration. Normally, two legal systems are involved: the legal order of the State hosting the investment is competent to govern economic activities (including those of foreign investors) carried out on its territory, and the international legal order sets forth the duties of States in respect of foreign investors. After having discussed the basis for, and the law applicable to, investment claims (both in treaty and in contract claims), this article examines the interplay between regulatory measures and the international standards of protection for foreign investments, i.e., indirect expropriation and fair and equitable treatment. The authors also analyse the influence on the arbitrator’s evaluation of the presence of a stabilization clause in the agreement between the State and the investor.

Regulatory measures, standards of treatment and the law applicable to investment disputes / P. Bertoli, Z. Crespi Reghizzi. - In: RIVISTA DI DIRITTO INTERNAZIONALE PRIVATO E PROCESSUALE. - ISSN 0035-6174. - 49:1(2013 Mar), pp. 43-74. ((Intervento presentato al convegno Foreign Investment and Common Concerns: An International Law Perspective tenutosi a Cagliari nel 2012.

Regulatory measures, standards of treatment and the law applicable to investment disputes

Z. Crespi Reghizzi
2013

Abstract

The relationship between State regulatory measures and the international standards of protection for foreign investments has proved to be a critical issue in investor-State arbitration. Normally, two legal systems are involved: the legal order of the State hosting the investment is competent to govern economic activities (including those of foreign investors) carried out on its territory, and the international legal order sets forth the duties of States in respect of foreign investors. After having discussed the basis for, and the law applicable to, investment claims (both in treaty and in contract claims), this article examines the interplay between regulatory measures and the international standards of protection for foreign investments, i.e., indirect expropriation and fair and equitable treatment. The authors also analyse the influence on the arbitrator’s evaluation of the presence of a stabilization clause in the agreement between the State and the investor.
Foreign investment law; State-investor arbitration; ICSID; Bilateral investment treaties; Applicable law; Contract claims; Treaty claims; Regulatory measures
Settore IUS/13 - Diritto Internazionale
mar-2013
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2434/502110
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