Defenses based on alleged corruption-related activities by investors have become popular by States in investment arbitration. Given the seriousness of such accusations, one of the most important tasks for arbitral tribunals is undoubtedly to sort out legitimate defenses based on well-established facts of corruption from unfounded insinuations. Therefore, the approach undertaken by arbitral tribunals regarding […]
Investment Arbitration
Interest in International Investment Arbitration
In international investment arbitration interest may represent a significant portion of a final award and it is not uncommon for interest to exceed actual damages.[1] While not being an independent remedy, interest represents an important element of compensation.[2] The main purpose of an award of interest is “to compensate the damage resulting from the fact that, […]
La expropiación en el arbitraje de inversión
El marco jurídico internacional que rige la inversión extranjera consiste en una vasta red de acuerdos internacionales de inversión (AII) complementados por las normas generales del derecho internacional, y aunque otros tratados internacionales interactúan con esta red de manera poco importante, los AII son los principales instrumentos de derecho internacional público que rigen la promoción […]
Enforcement of Arbitral Awards against State Assets: Sovereign Immunity in the United States
The main issue related to enforcement of an arbitral award against a State in the United States is the State’s sovereign immunity. Under the Foreign Sovereign Immunities Act (“FSIA”), foreign sovereigns enjoy immunity from jurisdiction, a presumptive immunity from suit in U.S. federal and state courts, and immunity from execution, whereby their property is immune […]
El arbitraje en España
En España, la ley que regula el arbitraje es la Ley 60/2003, de 23 de diciembre, de Arbitraje, la cual entró en vigor en 2004. Esta ley representa un paso adelante en el desarrollo del sistema de arbitraje como método para resolver disputas sobre contratos comerciales. La Ley de Arbitraje se basa en la Ley Modelo […]
CIADI
El Centro Internacional de Arreglo de Diferencias Relativas a Inversiones es la institución líder en la resolución de controversias nacidas entre inversionistas y estados ya que los Estados lo han acordado así en la mayoría de los tratados internaciones de inversión o en contratos o en su legislación. Se trata de un proceso de arreglo […]
Compensation for Violations of the Fair and Equitable Treatment Standard
Whereas nearly all modern international investment agreements prohibit unjust and inequitable treatment, they provide little guidance as to how the damages due to the injured investor are to be assessed. As the fair and equitable treatment (“FET“) standard itself is relatively imprecise and very much dependent on the specific circumstances of the individual case, tribunals […]
International Investment Arbitration and EU Law: A Comparison of Protections Provided to Foreign Investors and Suggested Solutions to Reconcile Both Legal Orders
In the context of mistrust towards international investment arbitration, overlap is taking place between two legal orders that tended to ignore each other in the past, international investment arbitration and EU law, creating friction between the two legal communities. These frictions materialized in the judgment of the CJEU in Slovak Republic v. Achmea (“Achmea“), the […]
Discriminatory, Unreasonable and/or Arbitrary Measures in Investment Arbitration
The prohibition of discriminatory, unreasonable and/or arbitrary measures affecting investors’ investments normally figures among the protection standards provided by bilateral or multilateral investment treaties. Although it is considered as an independent basis for a finding of State responsibility, some arbitral tribunals have considered that the standard of protection against arbitrariness or discrimination is closely linked […]
