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The Origin and Evolution of Investment Treaty Standards

Stability, Value, and Reasonableness

Federico Ortino (Reader of International Economic Law, Reader of International Economic Law, King's College London)

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Hardback

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English
Oxford University Press
19 December 2019
This book provides a conceptual and legal analysis of the core of investment protection guarantees that emerge from international treaties signed since 1959 for the promotion and protection of foreign investment. It focuses on both the origin and evolution of investment treaty standards. Beginning with origins, the work considers the broader context at the time when the first modern investment treaty was concluded. It goes on to examine the many decisions of ad hoc arbitral tribunals that have since been called upon to apply these treaties in order to resolve the several hundred investor-State disputes. It also looks at some of the recent investment treaties that have attempted to clarify and/or reform the content and scope of investment protection guarantees. Federico Ortino posits that the key investment protection provisions in investment treaties, and thus much of the controversy associated with such treaties, revolve around three concepts: legal stability, investment's value, and reasonableness. He argues that, from the very beginning, the protections afforded to foreign investments by modern investment treaties have been exceptionally broad, and as such restrictive of host States' ability to regulate. And whilst a growing number of investment treaty tribunals, as well as new investment treaties, have to some extent reined in such broad protections, the evolution of key investment protection standards has been marred by inconsistency and uncertainty.
By:  
Imprint:   Oxford University Press
Country of Publication:   United Kingdom
Dimensions:   Height: 237mm,  Width: 159mm,  Spine: 19mm
Weight:   498g
ISBN:   9780198842637
ISBN 10:   0198842635
Pages:   210
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active

Federico Ortino is Reader of International Economic Law at King's College London and a Consultant to Clifford Chance, specialising in international trade and investment law. He is a member of the ILA Committee on The Rule of Law and International Investment Law; member of the Executive Council (and former co-treasurer) of the Society of International Economic Law; member of the E15 Task Force on Investment Policy; and consultative member of the Investment Treaty Forum.

Reviews for The Origin and Evolution of Investment Treaty Standards: Stability, Value, and Reasonableness

[B]y scrutinizing each case in its chronological and factual context, the author has done a fine job in illustrating the intricate differences between the stances taken by tribunals ... With his careful examination of recent invest treaty practice, the author has found several ways by which drafters can effectively curtail uncertainties surrounding certain terms in the BIT. It is safe to conclude that the book is a valuable contribution that would benefit treaty drafters and scholars alike. As this book provides concise factual background and detailed analysis of the legal arguments made by each tribunal, it can also assist practitioners in finding favourable cases and spotting unfavourable ones. * Kai-chieh Chan, Paris 2 Panth´eon-Assas University, Journal of World Investment & Trade *


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