About the Book:
This book is based on the Conference organized by the IAI in Paris on the topic, which was the first to gather together economists, academics, arbitrators, practitioners and State negotiators in relation to investment treaty arbitration.
Jurisdiction in Treaty Investment Arbitration reflects their shared experience and perspective on the three grounds of challenge to the jurisdiction of arbitral tribunals in investment treaty arbitration. Accordingly, the Three Parts of this volume are organized according to the three jurisdictional thresholds that a claimant must cross in order to reach the merits phase of an investment treaty arbitration.
Part I is devoted to Jurisdiction ratione materiae, i.e., the notion of ‘investment’. What constitutes an investment? Is there an economic definition of an investment? Is there a legal definition of an investment? What requirements are found in investment treaties? The various aspects of this crucial concept are covered, respectively, by an economist (Boaz Moselle), by international arbitration specialists, be they academics, arbitrators or practitioners (Pierre-Marie Dupuy, Judge Stephen M. Schwebel and Stanimir Alexandrov, Michael Polkinghorne, Sven-Michael Volkmer, and Margaret Clare Ryan), and by State representatives experienced in the negotiation and drafting of investment treaties (Christophe Douaire de Bondy and Megan Clifford for Canada, Roberto Echandi Gurdián for Costa Rica and Jae-Hoon Kim for the Republic of Korea).
Part II focuses on Jurisdiction ratione personae, namely the definition of the protected investor. Doak Bishop and Margrete Stevens report on whether there is a standard definition of an ‘investor’ in investment treaties; Yas Banifatemi discusses the issue of control under denial of benefits clauses, and Professor Geneviève Bastid-Burdeau analyses whether there are specific standards of jurisdiction when defining the defendant State.
Part III and last part of the volume is dedicated to Jurisdiction ratione temporis: what is covered in time by the relevant treaty? Veijo Heiskanen examines whether there is a distinction between jurisdiction ratione temporis and substantive protection ratione temporis. Zachary Douglas then focuses on the determination of the critical date in investment treaty arbitration.
The volume also includes the proceedings of the animated debates that followed each session of the Conference.
This volume is required reading for all those involved in the study and practice of investment treaty arbitration.
About the IAI:
The International Arbitration Institute (IAI) is an organization created under the auspices of the Comité Français de l'Arbitrage (CFA) with the purpose of fostering exchanges in the field of international arbitration. It currently has over 600 members on a worldwide basis. Its activities include the organization of international conferences, as well as the publication of a Directory of Members, which is the most highly regarded freely accessible source of information on international arbitration specialists.
About the IAI Series on International Arbitration:
The IAI (International Arbitration Institute) Series on International Arbitration are publication featuring the papers and debates focusing on topical questions of international arbitration discussed at conferences organized by the IAI.
Emmanuel Gaillard is acknowledged as one of the world leading experts on international arbitration. He has acted as arbitrator, counsel and expert in hundreds of international arbitrations. A Professor of Law in France, and a Visiting Professor of Law at Yale Law School, he heads Shearman & Sterling’s International Arbitration practice. He has written extensively on all aspects of international arbitration law, in English and in French.
Yas Banifatemi is a Partner in Shearman & Sterling’s International Arbitration Group and leads the firm’s Public International Law Practice. A PhD in Public International Law, she teaches International Investment Law at Université Panthéon-Sorbonne (Paris I) and is a Visiting Lecturer at Yale Law School. She has authored numerous articles on issues of investment arbitration and international law.
Christophe Douaire de Bondy
Margaret Clare Ryan
Stephen M. Schwebel