This unit introduces students to the international regulation of foreign investment. It examines core principles of international investment law, regional and bilateral investment treaties, the settlement of investment disputes, and the international economic and political context in which the law has developed. The unit considers the origins and evolution of international investment law through to the recent formation of the current international legal framework for foreign investment through bilateral and regional investment treaties. It examines the substantive standards of protection contained within investment treaties (such as the fair and equitable treatment standard, and the prohibition on expropriation without compensation), recent arbitral awards, and considers controversial issues surrounding investor-state arbitration. It examines the procedural framework for investment treaty arbitration under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) and the UNCITRAL Rules. This unit also considers the increased focus on investor responsibility in relation to environmental protection, human rights, development issues, and labour standards. It also examines recent developments including the negotiation of mega-regional trade and investment agreements, such as the Trans-Pacific Partnership Agreement and the negotiations towards the Transatlantic Trade and Investment Partnership.
Feb 20, 21 and 26, 27 (9-5)
6000wd essay (70%) and assignment (30%)