Research Handbook on Foreign Direct Investment
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Research Handbook on Foreign Direct Investment

Edited by Markus Krajewski and Rhea T. Hoffmann

Increasing international investment, the proliferation of international investment agreements, domestic legislation, and investor-State contracts have contributed to the development of a new field of international law that defines obligations between host states and foreign investors with investor-State dispute settlement. This involves not only vast sums, but also a panoply of rights, duties, and shifting objectives at the juncture of national and international law and policy. This engaging Research Handbook provides an authoritative account of these diverse investment law issues.
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Chapter 7: Investment dispute settlement

Anna De Luca and Giorgio Sacerdoti

Abstract

As of the 1960s the international law of foreign investment has been characterized by the emergence of international arbitration as the preferable means of settling investment disputes, and the increasing recognition by treaty law of private investors’ ability to espouse therein their international claims directly against the host States. Investment arbitration has, however, advanced impressively in the mid-twentieth century, thanks also to an ever-growing network of international investment agreements, indicating international arbitration as a means for resolution of investor-State disputes available to national investors of the Contracting Parties. The chapter provides a general overview of investment treaty arbitration and its features as well as ICSID and non-ICSID arbitration more specifically. Furthermore, procedural issues, the award and the post-award procedure are explained. Finally, the chapter also looks at new approaches to investment dispute settlement such as the Investment Court System of the European Union or the proposal for a multilateral investment court.

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