A rethink of investor-state dispute settlement
DOI:
https://doi.org/10.14296/ac.v2013i93.2135Keywords:
Arbitration and award, International law, Dispute settlement, Investor-state arbitrationAbstract
Professor A F M Maniruzzaman considers the impact of a spectacular growth of investor-state dispute resolution by arbitration over the last two decades, looking at issues raised by excessive investor-state arbitral awards with wider implications beyond the field of arbitration itself, such as concerns about the role of arbitrators vis-à-vis the respondent state’s public interest in regulating various matters including environmental protection, low-carbon investments, social and human rights; dire economic consequences flowing from arbitrators’ decisions who lack in democratic legitimacy of a domestic or international judicial institution; and inconsistency in arbitral interpretation of investment treaty obligations, hence unpredictability in arbitral decisions on similar or identical issues.
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