Delivered at:: School of International Law

Course type:: Compulsory course

When:: 1 year, 1, 2 module

Abstract

Cross-border investments play an important role in modern economy, as well as international relations. They have significant impact on development of countries, environment, trade and communities. It comes as no surprise that States increasingly regulate various aspects of such investments both by national laws and by entering into bilateral and multilateral treaties. Treaties and laws governing protection of foreign investment, insurance of cross-border investment, implementation of investment-related regulations that may have impact on trade, laws governing access of foreign investors are the key elements that the course will explore. Various aspects of foreign investment are subject of increasing criticism from various stakeholders including States and civil society. Criticism of investment arbitration system, where ‘unelected judges’ allegedly favor investors over States is the most intensively discussed subject. However other aspects, such as lack of effective control over foreign investors and lack of their accountability for human rights and environmental law violations, also raise important concerns. The course will explore the extent to which the various criticisms are justified and ways to address them, including the investment dispute settlement reform.

Learning Objectives

The aim of the course is to provide students with a theoretical and practical understanding of international investment law, particularly the regime governing protection and implementation of foreign investments. The course explains various frameworks established by national laws and rules of international law governing cross-border or international investments and how they operate in practice.

Expected Learning Outcomes

Skills and abilities: • to use specific terms and sources of the global investment law; • practical abilities to research international investment law and national laws and regulations governing international investment; • skills to advise clients on rules relating specifically to implementation of international investments and represent them in disputes concerning compliance with such rules.
Students must gain knowledge on: • Rules of international law and frameworks established at national law governing international investments; • Procedural framework for resolution of disputes concerning foreign investment.
Students should gain the following competences: • ability to work with information (search, evaluate, use information, necessary for fulfilment of academic and professional tasks, from various sources, including application of the systematic approach); • ability to carry out professional activities in the international environment; • ability to search, analyse, and work with relevant information by using the juridical, comparative and other specific methods,

Course Contents

Introduction to International Investment Law: Various Areas and Various Regimes
Application of General International Law to Foreign Investment
Protection of Foreign Investment: Scope of Applicable Treaties
Expropriation
Standards of treatment (I): Fair and Equitable Treatment, Full Protection and Security
Standards of Treatment (II): National Treatment and Most-Favored Nation Treatment
Standards of Treatment (III): Umbrella Clause and Freedom of Transfers
Settlement of Investment Disputes (I): fora
Settlement of Investment Disputes (I): procedure
Obligations of Foreign Investor and Their Enforcement

Assessment Elements

Attendance, active participation and in-class discussion
Each student is expected to attend all the sessions having go through and thought about the assigned material, including the questions and any problems in the text/judgment, podcast, etc. that are assigned, and actively participate in class discussions, ask questions and take a position and comment on assignments. Sessions will be structured as a mix of lectures, seminars, and participative workshops in order to stimulate class discussion: the participants are expected to process the assigned materials in advance for each class.
Essay
The essay should be in the form of a case comment assessing the merits of a real-world investment dispute, including strengths and weaknesses of the case on the merits, any jurisdictional or admissibility objections and the most problematic points. The essay should be 3-7 pages long. Particular cases will be distrbuted to the students well in advance of the deadline.
Case stady
Students are invited to prepare a Skeleton Argument for Repsondent. The Skeleton Argument should not amount to a full-scale submission. Skeleton should be short (3-7 pages) and should contain the basic outline of the Respondent's position on the issues raised in the Claimant's submission. Please follow IRAC structure of the argument.

Interim Assessment

2024/2025 2nd module
0.2 * Attendance, active participation and in-class discussion + 0.5 * Case stady + 0.3 * Essay

Bibliography

Recommended Core Bibliography

Douglas, Z. (2003). The Hybrid Foundations of Investment Treaty Arbitration. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.923ADAFD
Lim, C. L., Ho,Jean, & Paparinskis,Martins. (2018). International Investment Law and Arbitration. Cambridge University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.cup.cbooks.9781107180338
Stefanie Schacherer, & Rhea Tamara Hoffmann. (2019). International investment law and sustainable development. Chapters, 563. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.elg.eechap.17250.18
United Nations Conference on Trade and Development. (2007). Elimination of TRIMs, the Experience of Selected Developing Countries. New York: United Nations Publications. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=225794

Recommended Additional Bibliography

Chochorelou, M. (2018). Multinational corporations as a new subject of international investment law: Rights conferred to investors under the ISDS provisions of intergovernmental and bilateral treaties and ways to balance this new reality. Universitat Internacional de Catalunya, 2018. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edstdx&AN=edstdx.10803.664724
Douglas, Z. (2011). The MFN Clause in Investment Arbitration: Treaty Interpretation Off the Rails. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.9E4CD985
El Mougy, H. A. M. (2017). Transformations in International Investment Law: Incorporating Public Interest into Private Regime. Global Business & Economics Anthology, 1, 113–116. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=124646820
Kalicki, J., & Medeiros, S. (2007). Fair, Equitable and Ambiguous: What Is Fair and Equitable Treatment in International Investment Law? Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.F627ACCC
Norton, P. M. (2018). The Role of Precedent in the Development of International Investment Law. ICSID Review: Foreign Investment Law Journal, 33(1), 280–301. https://doi.org/10.1093/icsidreview/six027
Radi, Y. (2018). Philip Morris v Uruguay: Regulatory Measures in International Investment Law: To Be or Not To Be Compensated? ICSID Review: Foreign Investment Law Journal, 33(1), 74–80. https://doi.org/10.1093/icsidreview/six031
Zivkovic, V. (Dr. . (2018). International Rule of Law Through International Investment Law. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.8C42B585

Authors

STARZHENETSKIY VLADISLAV VALEREVICH
SMIRNOVA SVETLANA ANATOLEVNA

Master’s Programme 'Law of International Trade and Dispute Resolution'

Programme Overview

Address

International Investment Law

Course Syllabus