Oxford International Arbitration Series – serie

Discrimination in International Investment Arbitration provides an original and comprehensive treatment of the non-discrimination standards at the heart of many investment treaty cases. Drawing insights from US law, EU law, and international human rights courts, Risvas supplies key insights into arbitration tribunals' decisions on the interpretation and application of a wide scope of standards, including Most Favoured Nation (MFN) Treatment; National Treatment (NT); non-impairment clauses prohibiting arbitrary and/or discriminatory measures; Fair and Equitable Treatment (FET); and non-discrimination in the context of the Expropriation standard. Advancing normative suggestions for the application of non-discrimination standards, Risvas proposes a template for practitioners, policymakers, and adjudicators involved in investment treaty negotiations. The book is also a valuable resource for legal scholars, as it clarifies inconsistent arbitral practice and distils the key traits of discrimination claims.

In recent decades, foreign direct investment (FDI) has played an increasingly significant role in world economic activity and development. In economic terms, the accumulated stock of FDI and its generation of commercial activity by foreign affiliates have made FDI comparatively more important than international trade in goods and services. At the same time, the globalization of markets and the development of consumer brands in many domestic markets has brought an increasingly international approach to the management, and value, of intellectual property (IP) rights. IP Rights have therefore become increasingly enmeshed with international investment and the subject of transnational disputes as evidenced by cases that concern, inter alia, various limitations for trademarks used on tobacco packaging, or the invalidation of pharmaceutical patents by domestic courts. FDI is increasingly involved with the exploitation of IP which underpins highly valued products and services and this has shifted the balance of return on FDI from physical to intellectual property. Thus, IP rights have never been more economically and politically important or controversial than they are today.There have long been international treaties that protect IP, but in recent years other international treaties have come into being that protect IP rights along with other property rights. These treaties include various international investment agreements (IIAs), which regard IP rights as a protected investment.This book analyses the standards of treatment and protection enshrined in IIAs for IP rights and their relationship to the key international treaties in IP Rights, with reference to topics such as the fragmentation of international law; investor-host-state dispute resolution; investors and investments; relative standards of treatment (such as most favoured nation); absolute standards of treatment (such as fair and equitable treatment); and expropriation. The work fills the significant gaps left by the comparably small amount of intellectual property related ISDS case-law. As IP Rights are a more recent concern in FDI, many questions regarding the relevance of IIA for IP rights are yet to be decided by investment tribunals. To assist the practitioner in understanding how IP Rights will be treated in investment disputes, the work sets out a number of hypothetical cases based on actual cases decided by other adjudicating bodies in different legal contexts, such the European Court of Human Rights or the European Court of Justice and the work also engages with the issues and applicable law for disputes involving IP Rights arising from the actions relating to Philip Morris trademarks in Australia and Uruguay, and Eli Lilly.

This is the first comprehensive study of corruption in international investment arbitration. The book considers the limited effectiveness of efforts to combat transnational corruption in international law and the emergence of international investment arbitration as a singular means for effective control of corruption within the international legal order. The case law on corruption by investment tribunals is studied exhaustively, jurisprudential trends are identified, and reforms aimed at enhancing the effectiveness and fairness of investment arbitration as a mechanism to combat corruption are proposed. Divided into three parts, part I focus on the phenomenon of corruption in foreign investment and attempts at its control through international law. Part II analyses the available case law in international investment arbitration dealing with corruption. Llamzon identifies nine distinct trends emerging from the case law and provides a table summarizing the key areas of corruption decision-making and each relevant tribunal's approach, which is an invaluable tool for practitioners engaging in 'live' issues of corruption within arbitral proceedings. Part III reflects on the implications of these trends for both the 'supply' and 'demand' sides of corruption in international law, and proposes a integrative framework of decision for corruption issues in international investment arbitration.

Today, international commercial disputes regularly involve multiple parties, contracts, and issues. As a result, the number of disputes that are tried in two or more different forums has increased, giving rise to difficult issues regarding the conclusive and preclusive effects of prior judgments or awards. As a result, the doctrine of res judicata , which requires that a final decision by a court or arbitral tribunal be conclusive and that it should not be re-litigated, is of increasing significance. Dr Silja Schaffstein provides the first practical and comprehensive guidelines for matters of res judicata for international commercial arbitration practitioners. Structured in two parts, part one examines the doctrine of res judicata in domestic and international litigation, while part two determines whether and how the res judicata doctrine may be applied by international commercial arbitral tribunals. Dr Schaffstein identifies situations in which res judicata issues are likely to arise before international commercial arbitral tribunals and provides actionable solutions. The book determines the key features of the doctrine of res judicata in the laws of England, the United States, France, and Switzerland, as representative of the common law system on the one hand and the civil law system on the other hand. The book also presents the doctrine of res judicata in the context of private international law, alongside its crucial aspects and application in public international law by international courts and tribunals. The aim of the work is to demonstrate how transnational principles of res judicata should be elaborated for international commercial arbitral tribunals. The analysis looks at how the doctrine should be applied by international commercial arbitral tribunals in their relations with other arbitral tribunals or state courts, and within the arbitral proceedings pending before them. The work sets out the transnational principles in the form of guidelines for international arbitrators.

Procedural issues are an area of increasing complexity and concern in modern investment arbitration, and one in which very little guidance currently exists. Indeed, there are a number of important points of departure from the procedural rules commonly adopted in the context of international commercial arbitration. Procedural Issues in International Investment Arbitration is the first text of its kind to address this gap, examining the most prevalent and controversial procedural issues that arise in investment arbitrations conducted under the ICSID, UNCITRAL, and other arbitral rules. Written by international arbitration experts, the book takes the reader through an investment arbitration in chronological order, identifying each key procedural issue in turn and providing details of the relevant precedents. It charts the process of an arbitration from applicable law and first sessions right through to post-hearing applications and costs. Fully cross-referenced and tabled, Procedural Issues in International Investment Arbitration is an invaluable and practical guide to issues of increasing importance and relevance in ICSID and other arbitrations today.

Fully revised and updated from the successful first edition, this title analyses the practice of international courts and tribunals with regard to the valuation of investment claims against states, paying specific attention to the question of interest. This new edition incorporates new jurisprudence, updates existing cases, and includes a new section on immaterial damage. The new edition also contains extensive annexes devoted to ICSID cases and non-ICSID investment cases, as well as a table on methods of valuation in international practice. This issue of valuation represents one of the most important aspects of international investment disputes. The parties involved have an obvious interest in an appropriate solution to the question of the quantum of damages. The sums involved are high and this is particularly true in the context of private foreign investment. With the increase in international investment both in the developing as well as the developed world, there is a growing need for a stable and predictable approach to quantum.This new edition meets the needs of foreign investors and host states by setting the issue of valuation on more solid ground. It provides an analysis of how international courts and tribunals have handled cases until now. The emphasis lies on the correct identification of the legal basis claim to inform the valuation method. The author concludes with suggestions and proposals as to how valuation should be handled by legal councils, experts, judges, and arbitrators in international judicial proceedings.

International mining disputes represent a significant and growing area of disputes over natural resources, yet the unique risks inherent in the mining industry set them apart, both in the nature of the disputes and the approach taken to resolve them. International arbitration has emerged as the mechanism of choice for the resolution of such disputes. This has given rise to a wealth of arbitral decisions from which certain principles specific to the mining sector are developing. This book is the first of its kind to bring together thorough analysis of arbitral decisions and insightful commentary on both dispute resolution and the business of mining, in order to provide a comprehensive guide to arbitration in the mining sector. Part I introduces the different parties involved in international mining projects; Part II explains the main risks and challenges involved in mining projects and how they result in different types of disputes; Part III provides practical advice for parties and counsel involved in international mining disputes, including in-depth analysis of the confidentiality issues that so often arise in connection with international mining disputes and the conditions and strategies for the settlement of these disputes; and Part IV examines the substantive principles applicable to international commercial and investor-State mining disputes.

In recent years, numerous jurisdictions have seen a significant shift in thinking about whether and to what extent matters involving the inner workings of a trust - so-called 'internal' trust disputes between settlors, trustees, and beneficiaries - are amenable to arbitration. Not only are parties expressing an increased desire to minimize the cost and delay of hostile trust litigation, but courts and legislatures from around the world have begun to demonstrate an increased willingness to allow these sorts of disputes to go to arbitration. Indeed, legislation allowing internal trust arbitration now exists in a number of jurisdictions, while courts in other countries have begun to allow mandatory arbitration of these types of disputes even in the absence of subject-specific statutes. This book discusses recent and anticipated developments concerning trust arbitration in a variety of domestic and cross-border settings. In so doing, the text not only provides necessary information about the special nature of national and international trust arbitration, it also bridges the gap between trust law and arbitration law by bringing together authors with expertise in both fields. Furthermore, this book is the first to provide detailed and critical analysis of various institutional initiatives in the area of trust arbitration (including measures proposed by the American Arbitration Association, the American College of Trust and Estate Counsel, the English Trust Law Committee, and the International Chamber of Commerce) and to offer in-depth coverage of various national, international, and comparative issues, including the applicability of the New York Convention and the Hague Trust Convention to internal trust arbitration. As a result, this book is a must-have for specialists in both trust law and arbitration law.

Interest plays a vital and increasing role in international arbitration proceedings, with almost every case having an element of interest involved. However, until now, the topic has received very little attention, meaning that arbitrators have had very little concrete foundation on which to judge decisions on interest awards. This book is the first authoritative guidance to address this, providing a uniform approach to the awarding of interest in international arbitration. Interest in International Arbitration aligns arbitrators' decisions with standard commercial practice, offering a practical and logical approach to how interest should be awarded. It sets out traditional approaches that arbitrators have followed in the past, such as using conflict of law to apply a statutory rate from a given law, or awarding instead a subjectively 'reasonable' rate, and examines how these inconsistent approaches have resulted in a variety of awards and decisions. The author uses this analysis as a basis for a uniform approach to the issue: granting compound interest at appropriate rates unless constrained by truly mandatory law. The author sets out the calculation method, explores the benefits and limitations, and presents a thorough argument for the movement toward a uniform approach to interest awards.

Attorney-client privilege is often invoked as a defence in international arbitration proceedings however the participants often have very different expectations regarding the applicable privilege standard, as national attorney-client privilege laws vary widely between jurisdictions. This is complicated by the fact that institutional arbitral rules do not include provisions on the scope of attorney-client privilege, nor do they outline the conflict of laws issues determining the applicable national privilege law. The applicable level of privilege is therefore left to the discretion of the arbitral tribunal. Drawing on interviews with more than thirty leading international arbitration practitioners and extensive academic research, this book is the first of its kind to provide clear guidance to arbitral tribunals regarding the determination of the applicable attorney-client privilege standard. It compares attorney-client privilege in key common and civil law jurisdictions, analyses precedent from previous tribunals, and finally sets out proposed changes to the legal framework governing this area.

In recent years, there has been a marked increase in the number of investors seeking compensation from states perceived to have expropriated their projects. Part of the Oxford International Arbitration Series, this work provides a comprehensive guide to expropriation and how it is applied in practice.The author offers a detailed examination of existing case law, from which common substantive principles of the international law on expropriation are drawn out. Relevant international cases from the ICJ, ECHR, and Iran-US Tribunal are considered to complement the focus on investment treaty arbitration and ICSID, UNCITRAL, NAFTA and ECT cases. The book examines the interplay between expropriation and other standards of treaty protection, such as fair and equitable treatment, as well as remedies for expropriation. The reader embarks on a thorough examination of expropriation in investment treaty arbitration, from its evolution into an accepted principle in international law today, through to current trends and a critical assessment of the relevance of expropriation in the present day.Expropriation in Investment Treaty Arbitration is a useful, systematic analysis of a topic that is of vital importance in arbitration practice, a key resource for all practitioners in this field.

The second edition of International Investment, Political Risk and Dispute Resolution explores the multi-layered legal framework for the protection of foreign investment against political risk. The authors expertly analyse some of the key issues surrounding this subject, such as structuring transactions to minimize political risk, political risk insurance, state responsibility, treaties protecting foreign investment, and international arbitration between states and investors. Since the previous edition was released in 2005, far more attention has been paid to these issues, in particular investor-state arbitration. All chapters have been revised to take into account the number of new arbitration awards that have come to light and the massive volume of commentary on the subject of international investment arbitration since the first edition. The authors have carefully considered the latest theoretical approaches to foreign investment protection and the most intellectually challenging awards issued in the intervening decade, as well as the most recent practical guidance on the procedural recourse available to investors who face political risks. This book is addressed to a wide audience, and is suitable as a primer for non-specialist practitioners seeking to familiarize themselves with international law pertaining to political risk. While appropriate for practitioner use, this book is also suitable for undergraduate students or for graduates who intend to specialize in international investment law.

Written by a leading legal researcher, this book offers a comprehensive study of the principle, a frequently invoked but rarely analysed aspect of investment arbitration. Good Faith in International Investment Arbitration is a thorough and expansive study that considers the application of good faith by arbitral tribunals and parties in international investment disputes, encompassing both procedural and substantive aspects of good faith. Expertly negotiating a complex principle, this book diligently follows the arbitral process from jurisdiction through merits and to cost decisions, identifying the various applications of good faith in investment disputes. The author offers detailed analyses of the role of good faith in defining nationality and investor as well as in pre-dispute admissibility requirements. The study then delves into the ways the principle guides parties' arguments and informs tribunals' decisions regarding evidence, substantive protections, and costs. It further addresses the role of good faith in the behaviour of arbitrators and other actors. This is an essential guide for anyone wishing to understand this important principle that has accompanied the developing system of international investment law.

Emergency Arbitration is the first work of its kind to provide clear and authoritative guidance on the practice and theory of this increasingly utilized procedure. By examining the leading emergency arbitration rules, the book identifies a common procedural framework for the commencement, conduct, and decision-making process in an emergency arbitration. This framework is developed through the articulation of 'The Fifteen Principles of Emergency Arbitration'. These are aimed at giving parties greater control and certainty in bringing and defending applications for emergency measures. The book combines a practical approach, including the use of flowcharts and tables, with in-depth analysis of important issues arising in emergency arbitration. These include the status of the emergency arbitrator; the relationship between the emergency arbitrator, the arbitral tribunal, and courts; the role of the seat of emergency arbitration; applicable laws and transnational standards; due process requirements; the enforceability of decisions; and use of the procedure in investment treaty arbitration. Emergency Arbitration is thus a vital companion to those contemplating, or facing, an emergency arbitration.

For the first time, a monograph thoroughly analyses the controversial and sensitive topic of secretaries to arbitral tribunals. Tribunal secretaries support arbitrators at all stages of the arbitration and provide valuable assistance; yet, thus far, they have remained largely in the shadows. This book provides vital discussion on how tribunal secretaries should be appointed, what specific tasks they may be endowed with, and what the consequences of an impermissible use are. Comprehensive analysis of case law, arbitration legislation, institutional rules and guidelines, and supporting literature guides the reader towards a profound understanding of the benefits and pitfalls surrounding the tribunal secretary's position. Tribunal Secretaries in International Arbitration adopts a transnational approach to systematically answer questions often discussed but thus far unresolved. Structured in three parts, the book develops the conceptual foundations, discusses the practical implementation, and outlines limits of the permissible use of tribunal secretaries. The busy practitioner is furnished with easy-to-use templates and guidelines for practical and seamless implementation in international arbitrations. These include a seven-step formal appointment process, ready-to-use material for correspondence with the parties, and a Traffic Light Scale of Permissible Tribunal Secretary Tasks for the consultation of arbitrators, secretaries and parties alike. Shining a spotlight on the tribunal secretary, this monograph is an invaluable contribution to the further institutionalisation of a role of ever-increasing importance in the coming years. With useful analysis and practical guidelines, it is an essential tool for all practitioners and academics involved in international arbitration.

General principles of law play an important role in investment arbitraion and can be applied by a tribunal when no treaty provision or rule of customary international law exists regarding a particular issue. They can be used in traditional means, such as the interpretation of vague treaty terms, or for wider reaching issues emerging from the international legal order. Following a significant increase in references to the general principles of law by Investor-State tribunals questions have been raised around the meaning and function of these principles. Written by an expert in the field this book offers clear and comprehensive guidelins to better understand the nature, meaning, and function of general principles of law in the field of international investment law. Applying these principles to practice, this book assesses 17 concepts and notions in the field of investment arbitration, providing counsel and arbitrators with clear guidance on what should, and should not, be considered a general principle of law.

This book explores the meaning of 'investment' within the context of International Centre for Settlement of Investment Disputes (ICSID) arbitration. It provides a comprehensive and detailed examination of the various legal issues arising in connection with the jurisdictional requirement of the existence of an investment. It explores, first of all, the fundamental question of whether the term 'investment' in Art. 25 ICSID Convention has - despite not being defined - some objective or independent meaning. Second, it addresses the substance of that meaning, showing that three main approaches (the prevailing Salini test, the permissibility test, and the commercial-transaction test) co-exist in arbitral practice. Third, it analyses the definitions of 'investment' found in investment treaties including the traditional definitional model, typical requirements, and recent developments in practice. Fourth, it provides an overview of definitions contained in domestic investment laws, highlighting commonalities with, and differences from, definitions found in investment treaties. Finally, it examines the investment status of several specific categories of assets and operations. The Concept of Investment in ICSID Arbitration offers not only a detailed analysis of the relevant case law, legislation, and scholarship, but also a critical assessment of existing practices and trends, as well as normative recommendations. It also explores issues that are neglected in the existing literature, such as the question of the nature of investment, recent trends in treaty drafting and arbitral case law, and definitions of 'investment' contained in investment laws.Despite its formal focus on ICSID arbitration, significant portions of the book are also relevant for other forms of investor-state arbitration.

China's success in attracting foreign direct investment (FDI) in the last decade is undisputed, and unprecedented. It is currently the second largest FDI recipient in the world, a success partially due to China's efforts to enter into bilateral investment treaties (BITs) and other international investment instruments. The second title to publish in the new Oxford International Arbitration Series is a comprehensive commentary on Chinese BITs.Chinese investment treaties have typically provided international forums for settling investment disputes such as the International Centre for the Settlement of Investment Disputes (ICSID). Given the continuous growth of FDI in China, the emergence of state-investor disagreements in China and the dramatic rise of investment treaty based arbitrations world wide in recent years, it is anticipated that there will be an increasing number of investment arbitrations involving the central and local governments of China. This book will provide a detailed review and analysis of China's approach to foreign investment. It will consider the current role of investment treaties in China's foreign economic policy, analyse and interpret the key provisions of the BITs, and discuss the future agenda of China's investment programme. It will look at how this investment regime interconnects with the domestic system and consider the implications for a foreign investor in China.

The role of the third party has fast become a pervasive problem in the field of international arbitration, as parties not bound by an arbitration agreement are seen to be excluded from the process, even if they clearly maintain a legal or financial interest in a dispute between other persons who are bound by an arbitration clause. Third Parties in International Commercial Arbitration considers the role of third parties in arbitration agreements and proceedings and in arbitral awards and covers significant theoretical and practical questions. These questions include: which is the proper party in arbitration; whether a tribunal can assume jurisdiction over claims by or against a party that is not designated in the arbitration clause (third-party claims); whether a party can rely on the findings of a previous arbitral award in subsequent proceedings against a third party; and whether a third party to an arbitral award can rely on its findings in proceedings against a party to the award.Adopting a comparative, international approach, third-party claims are discussed in relation to many areas such as assignment and other forms of transfer; agency (actual and apparent) and representation; third-party beneficiary; incorporation by reference; corporations and partnerships; in guarantees and other security agreements; construction contracts and string contracts; arbitral estoppel; group of companies and alter ego; implied consent and consent by conduct; name-borrowing; third parties claiming through or under an arbitration clause or several compatible arbitration clauses.The book also discusses issues about arbitral effect (res judicata and issue estoppel) and third parties.In Third Parties in International Commercial Arbitration Brekoulakis consolidates the discussion on issues where reasonable agreement among scholars and tribunals exists, but at the same time proceeds to identify those areas that require further convergence. He examines and classifies all the existing theories and legal bases on third-party claims in clearly defined groups and puts forward a new systematic approach to the discussion to be used as an alternative to the existing theories.

The rise of investment arbitration in the last decade has generated an unprecedented body of arbitral case law. The work of these arbitral tribunals has provided scholars and practitioners with public international law jurisprudence, including materials on treaty interpretation which has not yet been thoroughly analysed. This book evaluates the contribution of investment arbitration treaty interpretation jurisprudence to international law, covering all key aspects of treaty interpretation. Included in the book's coverage are awards which feature in prominent discussions or in applications of treaty interpretation rules. Among the significant portion of arbitral awards analysed, which deal with investment treaties, are ICSID awards, ad hoc investment arbitration awards, NAFTA awards, and Energy Charter Treaty awards. The extensive analysis of investment arbitration awards and decisions has also been used to create a table highlighting both the references to principles of treaty interpretation and instances in which they were rejected. This invaluable insight into the practice of investment tribunals will be of interest to both practitioners and academics alike.Foreword by by Professor Michael Reisman, Yale Law School _

The book systematically describes the theory and practice of ICSID annulment proceedings by thoroughly analysing this mechanism in light of the annulment decisions rendered so far as well as the publications on the issue. Organised to suit the needs of the practitioner, it outlines the recent trends in the area, providing the most up to date analysis of the subject. It also addresses key topics involving ICSID annulment such as the procedural issues which frequently arise in this type of proceedings, for example admissability of new evidence and arguments in annulment proceedings, res judicata in resubmitted cases. The sections on each ground for annulment include an analysis of the applicable standard as well as a detailed description and study of each annulment decision that addressed the respective ground, creating an authoritative and complete resource.

This is the long-awaited second edition of this widely-referenced work on the substantive law principles of investment treaty arbitration. It forms a detailed critical review of the substantive principles of international law applied by investment arbitration tribunals, and a clear and comprehensive description of the present state of the law. The first edition met with immediate success as a result of the authors' achievement in describing and analysing the volume of law created, applied and analysed by tribunals. The second edition is fully updated to take account of the arbitration awards rendered in the period since 2007. Written by an internationally recognised author team, it is now the most comprehensive and up to date work in its field and no practitioner or academic can afford to be without it.Key areas of coverage include: the instruments under which investment disputes arise; the legal basis of treaty arbitration; dispute resolution and parallel proceedings; who is a foreign investor, including nationality issues and foreign control; what is an investment; investors' substantive rights, including fair and equitable treatment; expropriation; compensation and remedies. Arbitration of overseas investment disputes is one of the fastest growing areas of international dispute resolution. The exponential growth of international investment in recent years has led to the signature of over two thousand Bilateral Investment Treaties (BITs) between foreign states, in addition to a wealth of multilateral treaties and other forms of concession agreements. The legal principles that have developed in this area are subject to intense debate, and are still in a state of flux. While tribunals routinely state that they are applying principles of public international law to determine disputes, many of the principles applied have only been developed recently in the context of investment treaty arbitrations, and tribunals are often guided more by the approaches taken by other tribunals, than by pre-existing doctrines of public international law. International Investment Arbitration:Substantive Principles is an important contribution to the collection and codification of the current state of practice in this field.

This is the long-awaited second edition of this widely-referenced work on the substantive law principles of investment treaty arbitration. It forms a detailed critical review of the substantive principles of international law applied by investment arbitration tribunals, and a clear and comprehensive description of the present state of the law. The first edition met with immediate success as a result of the authors' achievement in describing and analysing the volume of law created, applied and analysed by tribunals. The second edition is fully updated to take account of the arbitration awards rendered in the period since 2007. Written by an internationally recognised author team, it is now the most comprehensive and up to date work in its field and no practitioner or academic can afford to be without it.Key areas of coverage include: the instruments under which investment disputes arise; the legal basis of treaty arbitration; dispute resolution and parallel proceedings; who is a foreign investor, including nationality issues and foreign control; what is an investment; investors' substantive rights, including fair and equitable treatment; expropriation; compensation and remedies. Arbitration of overseas investment disputes is one of the fastest growing areas of international dispute resolution. The exponential growth of international investment in recent years has led to the signature of over two thousand Bilateral Investment Treaties (BITs) between foreign states, in addition to a wealth of multilateral treaties and other forms of concession agreements. The legal principles that have developed in this area are subject to intense debate, and are still in a state of flux. While tribunals routinely state that they are applying principles of public international law to determine disputes, many of the principles applied have only been developed recently in the context of investment treaty arbitrations, and tribunals are often guided more by the approaches taken by other tribunals, than by pre-existing doctrines of public international law. International Investment Arbitration:Substantive Principles is an important contribution to the collection and codification of the current state of practice in this field.

Damages are a topic of central importance in international arbitration, being very often the principal concern of the parties, and an indication of the performance of their counsel. They are also one of the most complex topics. This book addresses the many competing factors that contribute to their nature and amount: while they are compensatory, they may be subject to counterclaims and set-offs, affected by failures to mitigate, or inflated by considerations such as interest and costs. Specialist evidence is relied on to complete composite calculations, taking into account such evasive factors as the destruction of market value, uncertainty of future revenues, projected interest rate changes, and lost dividends. The lack of understanding of the underlying considerations, methods such as "splitting the baby", or dogmas such as the misinterpreted "efficient breach of contract", combined with the already high level of burden of proof, can make successful damages claims or properly reasoned awards difficult to achieve. This book provides in-depth analysis of the legal, financial, and economic issues involved in the preparation of claims and arbitral awards for damages and loss of income, for the breach of complex long-term contracts in international arbitration. The authors address matters such as the but-for method and the reconstruction of the hypothetical course of events as well as the quantification of damages. It provides a detailed coverage of issues arising when structuring, arbitrating, or making an award on damages, making it a valuable reference for practitioners in the field. It includes a number of leading cases (including commercial and investment arbitrations), focusing on the damages analysis for breach of contract.

This is the first systematic analysis of multiple proceedings arising from investor-state disputes, including proceedings before multiple arbitral tribunals, the domestic courts of host states, and other forums such as the European Court of Human Rights. It seeks to identify clear, predictable, and sensible coordination mechanisms and to suggest an application of these mechanisms that reduces jurisdictional fragmentation, jurisdictional competition, and the potential for abuse of the complexities of the system of international investment protection. The author explains how uncertainty in the area extends to several issues: there are doubts as to which forums have jurisdiction over a dispute and to what questions exactly this jurisdiction extends; there are doubts as to the mechanisms that should be applied to coordinate multiple proceedings (including consolidation, hierarchical coordination mechanisms, lis pendens and res judicata, and general principles of comity and prohibition of abuse of process) and how these mechanisms relate to each other; there are also doubts as to the law applicable to coordination mechanisms and the specifics of their application.The book begins with an examination of the characteristics of the international investment framework that frequently lead to multiple proceedings. It then addresses the issue of determining jurisdiction, a prerequisite for the application of any mechanism for further coordination. The author goes on to examine the role of agreed coordination (such as the consolidation of proceedings) versus 'default' coordination mechanisms; the role of hierarchy of forums in coordination, which he argues is relevant when coordinating treaty proceedings on the one hand and non-treaty proceedings on the other; the principles of lis pendens and res judicata, which he argues apply only under limited circumstances; and concludes with the establishment of guidelines regarding the application of the principles of comity and the prohibition of abuse of process. This inherently practical subject is exclusively concerned with the existing law and seeks to provide serviceable solutions to the uncertainty facing practitioners and scholars in the current climate of investment law.

Provisional measures are an increasingly important mechanism for investment protection in investment arbitration. There is a critical mass of jurisprudence as well as numerous cases that have exhibited novel uses for provisional measures, calling for a thorough examination. Rubins and Love's work is the first to provide in-depth coverage of this increasingly important subject and their work provides an invaluable academic and practical resource. The book is organized by topic and covers the full range of jurisprudence to date, using comparative legal analysis to shed light on each issue. It provides an overview of provisional measures and their function in investment arbitration, including the basic legal documents and provisions relevant to the topic. The authors set out the elements considered in granting provisional measures, discuss the two key issues of the relationship of provisional measures with parallel proceedings, analyse the enforcement of provisional measures, and assess the future direction and growth of provisional measures in investment arbitration.