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A Guide to State Succession in International Investment Law

Patrick Dumberry

A Guide to State Succession in International Investment Law provides a comprehensive analysis of State succession issues arising in the context of international investment law. The author examines whether a successor State is bound by the investment treaties and State contracts which the predecessor State had signed with other States and foreign investors before the date of succession. Actors who are called upon to apply rules of State succession in investment arbitration cases will find this book a valuable source of practical guidance with strong theoretical foundations.
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Chapter 10: STATE SUCCESSION TO ACQUIRED RIGHTS UNDER CONTRACTS

Patrick Dumberry

Extract

This chapter examines the concept of ‘acquired rights’ in the context of contracts involving individuals and corporations. It will show that the legal order of the predecessor State does not suddenly disappears as a result of a change of sovereignty and that private rights remain, as a matter of principle, unaffected. Yet, as a sovereign State, the successor State is free to adopt legislative changes which may affect rights of foreigners, but any such changes must respect the fundamental rights of foreign investors existing under international law, including a right to compensation.

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