Recent developments of fair and equitable treatment in international investment law
4:00pm - 5:00pm /
Wednesday 20th April 2016
/ Venue: Lecture Theatre 8 Rendall Building
Type: Lecture /
Category: Research
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- Suitable for: Open to all.
- Admission: Free, register on the website.
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The Liverpool Economic Governance Unit Guest Lecture by Dr Martins Paparinskis, UCL
Fair and equitable treatment is a legal term of art well known in the field of overseas investment protection. It is also a rule of considerable practical importance in dispute settlement on the basis of investment treaties. Judging from publicly available awards, this is the obligation that investment treaty Tribunals are most likely to find to have been breached, often with very significant compensatory implications. However, despite its pedigree and importance, the textual formulation of ‘fair and equitable treatment’ in most treaties is not an example of excessive clarity regarding the legal criteria to be applied to resolving particular disputes. How should an interpreter, whether operating in an arbitral or a less formalised setting, approach the task of interpreting and applying the treaty rule on fair and equitable treatment? The talk will reflect upon the impact that recent developments in investment treaty-making (the 2015 EU-Vietnam FTA, the 2015 TPP, and the 2016 CETA) and investment arbitration have had on this issue.
Fair and equitable treatment is a legal term of art well known in the field of overseas investment protection. It is also a rule of considerable practical importance in dispute settlement on the basis of investment treaties. Judging from publicly available awards, this is the obligation that investment treaty Tribunals are most likely to find to have been breached, often with very significant compensatory implications. However, despite its pedigree and importance, the textual formulation of ‘fair and equitable treatment’ in most treaties is not an example of excessive clarity regarding the legal criteria to be applied to resolving particular disputes. How should an interpreter, whether operating in an arbitral or a less formalised setting, approach the task of interpreting and applying the treaty rule on fair and equitable treatment? The talk will reflect upon the impact that recent developments in investment treaty-making (the 2015 EU-Vietnam FTA, the 2015 TPP, and the 2016 CETA) and investment arbitration have had on this issue.