International Investment Law
The subject covers the main principles principles of internati international onal law of foreign foreign investment investment governing international economic relations between States. Areas covered are the evolution of the law of foreign investment, international efforts to regulate foreign investment, regulation under bilateral investment treaties, free trade agreements and regional trade and investment agreements, and the case law developed by various international courts and tribunals, including the I nternational Centre for the Settlement of Investment Disputes ICSID!. The aim is to provide a thorough understanding of the law of foreign investment and the interplay between law and politics in regulating foreign investment. It also e"plai e"plains ns the import importanc ancee of #ITs #ITs in invest investmen mentt agreem agreement entss in the absenc absencee of comprehensive wor$able multilateral investment agreement after the failures of %&CD, 'orld 'orld #an$. The course content is divided into ( modules. Number of classes )* to )+ for each module Module 1: Introduction, history, nature and scope • • • • • •
eaning and evolution of term investment -istory of International Investment aws Conflicting economic theories on foreign investment Sources of laws in international investments Actors in field of foreign investments /is$s in international investments
Module 2: Principles of International Investments and state liability •
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The fundamental principles of the law of foreign for eign investment 0 1rotection against e"propriation 0 2air and e3uitable treatment 0 2ull protection and security 0 4ational Treatment 0 The 24 treatment 0 4on0discrimination and fairness 4ature of control by the the host states in international international investments
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State responsibility for injury to aliens The liability of multinational corporations and home state measures
Module 3: Model Laws for International Investments • • •
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The international norms on multinational corporations The 54CTC Draft Code on ultinational Corporations International investment agreement Draft odel o %&CD model o 'orld #an$ model o The regional agreements o 4A2TA o The AS&A4 Agreements The 'T% and foreign investment 6 T/IS o Indonesia 6 Autos case o Committee on Trade /elated Investment easures o /elationship with 24 and 4ational treatment and T/I1S
Module : Modes of forei!n investments and "I#s •
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odes of foreign investments o Investment Contracts o State and 1rivate Contracts o 2oreign Direct Investments o 1ortfolio investment #ilateral investment treaties 6 %rigin, content, significance 1referential Trade Agreements Treaties of friendship, commerce and navigation /easons for bilateral investment treaties 2eatures of bilateral investment treaties /epatriation of pro7ts 4ationali8ation and compensation Compensation for destruction during wars and national emergencies Criti3ue of #ITs 6 -uman rights, ineffectiveness
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Draft odel Indian #ilateral Investment Treaty +*)( aw Commission of India /eport +9* 6 analysis of Draft odel Indian #ilateral Investment Treaty +*)(
Module $: %ispute resolution • • • •
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Arbitration and the e"haustion of local remedies Arbitration between states International Claims Tribunals 6 Iran05S Claims Tribunal
Investment Arbitration, ICSID, Energy Charter Treaty, AFTA, CAFTA o White Industries Australia Limited v. The Reubli! o" India, #$CITRAL 1olitical /is$ Insurance o I:A o 4ational Insurance 1rogrammes o 1rivate Investment Insurance o #ilateral Investment 1romotion and 1rotection Agreements #I1As! Succession of governments and bilateral investment treaties
&ecommended boo's
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. Sornarajah, The international law on foreign investment, + nd edition, C51 Surya 1. Subedi, International Investment aw; /econciling 1olicy and
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1rinciple -art 1ublishing, %"ford, +**rd edn., Cambridge
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5niversity 1ress, +**?. %&CD, +**<, International Investment aw; 5nderstanding Concepts and
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Trac$ing Innovations 'T% Analytical Inde", @olume I, +**, p (*?0()9
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