Investment Treaty Arbitration and International Law - Volume 13
This volume of Investment Treaty Arbitration and International Law contains the papers and proceedings of the 13th annual Juris Conference. It examines several critical debates on energy, third-party funding, corruption, and costs. The topics addressed in this book include:
• Investment Arbitration under the Energy Charter Treaty in the Wake of Achmea v. Slovakia: Allowed or Forbidden?
• Third Party Funding: Can it be Regulated? Should it be Regulated?
• Corruption After Establishment: Should it Disqualify Otherwise Meritorious Claims?
• Should Costs Go with the Cause in Investment Treaty Arbitration?
PART I - INVESTMENT ARBITRATION UNDER THE ENERGY CHARTER TREATY IN THE WAKE OF ACHMEA V. SLOVAKIA: ALLOWED OR FORBIDDEN?
CHAPTER 1 - Investment Arbitration under the Energy Charter Treaty in the Wake of Achmea v. Slovakia
Jadranka Jakovcic
CHAPTER 2 - Disputes Under the Energy Charter Treaty in the Wake of Achmea v. Slovakia Remain Arbitrable and Enforceable
Clemence Prevot
CHAPTER 3 - Investment Arbitration Under the Energy Charter Treaty in the Wake of Achmea v. Slovakia: Allowed or Forbidden? (PANEL DISCUSSION)
Teddy Baldwin
Jadranka Jakovcic
Clémence Prévot
Stephen Anway
Amaia Rivas Kortazar
Baiju Vasani
Miriam Harwood
PART II - THIRD PARTY FUNDING: CAN IT BE REGULATED? SHOULD IT BE REGULATED?
CHAPTER 4 - Third Party Funding in Investor-State arbitration: Should It Be Regulated? Can It Be regulated? - The Case for Regulation
Camilla Gambarini
CHAPTER 5 - Third Party Funding in Investor-State Arbitration: The Case Against Regulation of Third-Party Funding
Jessica Beess und Chrostin
CHAPTER 6 - Third Party Funding: Can it be Regulated? Should it be Regulated? (PANEL DISCUSSION)
José Alberro
Camilla Gambarini
Jessica Beess und Chrostin
Sarah Lieber
Meriam Al-Rashid
José Antonio Rivas
Claire Stockford
CHAPTER 7 - Keynote Address
George A. Bermann
PART III - CORRUPTION AFTER ESTABLISHMENT: SHOULD IT DISQUALIFY OTHERWISE MERITORIOUS CLAIMS?
CHAPTER 9 - Corruption After Establishment Should Not Disqualify Otherwise Meritorious Claims
Liang-Ying Tan
CHAPTER 10 - Corruption After Establishment: Should it Disqualify Otherwise Meritorious Claims? (PANEL DISCUSSION)
Michael Nolan
Bart Wasiak
Liang-Ying Tan
Rekha Rangachari
Dawn Yamane Hewett
Ian Laird
Tafadzwa Pasipanodya
PART IV - SHOULD COSTS GO WITH THE CAUSE IN INVESTMENT TREATY ARBITRATION?
CHAPTER 11 - The Loser Ought to Pay: In Search of a Predictable Presumption in Investment Arbitration Costs
Joel Dahlquist
CHAPTER 13 - Should Costs Go with the Cause in Investment Treaty Arbitration? (PANEL DISCUSSION)
Michael Nolan
Joel Dahlquist
Brian Kotick
Charles Brower
Lucinda Low
Nicole Silver
Patrick Pearsall
TABLE OF CASES
INDEX
Editors
Meriam N. Al-Rashid is U.S. Chair of Public International Law and International Arbitration Co-Head of the Latin American Practice Group in Eversheds Sutherland’s New York office. She is a Partner in the International Arbitration and Litigation Practice Group where she focuses on international and commercial arbitration and risk management, covering various industries across the globe, including infrastructure, oil and gas, mineral resources, hospitality and real estate. Her experience includes participation in arbitration before the ICDR, LCIA, UNCITRAL, ICC, ICSID and the Permanent Court of Arbitration (PCA) at The Hague. Ms. Al-Rashid acts as arbitrator on commercial and investor-state disputes primarily involving parties from the Middle East and North Africa. She has served as counsel in disputes and transactions involving parties from Libya, South Africa, Iraq, Republic of Austria, the United Kingdom, and the United States among many others.
Dr. Kabir A.N. Duggal is Senior International Arbitration Specialist in Arnold & Porter Kaye Scholer’s International Arbitration Practice Group in New York focusing on international investment arbitration, international commercial arbitration and public international law matters. He also acts as a Consultant for the United Nations Office of the High Representative for Least Developed Countries, Landlocked Developing Countries and Small Island Developing State (UN-OHRLLS) and a Lecturer-in-Law at Columbia Law School. He is admitted to practice law in England and Wales (Solicitor), New York, Washington, D.C. and India. Mr. Duggal was named as a “Future Leader” in international arbitration by Who’s Who Legal (2017).
Miriam K. Harwood is Co-Head of the Squire Patton Boggs Investment Arbitration practice and a Partner in the world-ranked International Dispute Resolution Practice Group, based in the firm’s New York office. Her work in international arbitration includes commercial disputes and investment treaty claims on behalf of foreign states, governmental agencies and private entities in a broad array of cases. She has handled arbitrations under the authority of major international arbitral organizations, including the International Centre for Settlement of Investment Disputes (ICSID), the International Court of Arbitration (ICC), and under the rules of the United Nations Commission on International Trade and Law (UNCITRAL).
Todd J. Weiler’s practice has focused exclusively on international investment law and arbitration since being called to the bar of Ontario in 1999. He received a B.A. (Hons.) from the University of Waterloo (Canada), a M.A. and LL.B. from Western University (Canada), a LL.M. from the University of Ottawa, and a LL.M. and S.J.D. from the University of Michigan. He is also currently pursuing a Ph.D. in international and transnational history at Western University. From 1990 to 1996, he performed policy analysis for various departments of the Government of Canada and from 1997 to 1998 he clerked for Mr. Justice Howard Wetston at the Federal Court of Canada. In addition to inaugurating Juris’s conference and book series on international investment law and arbitration, Dr. Weiler is also a co-founder of both Investmentclaims.com, managed by Oxford University Press, and the Society of International Economic Law. His name has appeared on the Who’s Who Legal list of leading international arbitration lawyers since 2007 and on the Global Arbitration Review’s list of the world’s leading specialist international arbitration firms, the GAR 100, since 2011.
Associate Editor
Rekha Rangachari is the Executive Director of the New York International Arbitration Center (NYIAC). She serves as Co-Chair of the New York State Bar Association (NYSBA) Dispute Resolution Section’s International Dispute Resolution Committee, Co-Chair of the NYSBA International Section’s International Contracts and Commercial Law Committee, Member of the NYSBA House of Delegates, Co-Chair of the American Society of International Law’s (ASIL’s) Private International Law Interest Group, Board Member of the New York Coalition of Women’s Initiatives, the Association for Conflict Resolution of Greater New York (ACR-GNY), and Arbitral Women (AW), Steering Committee Member of the Pledge for Greener Arbitration, Fellow of the American Bar Foundation (ABF), and Adjunct Professor at Seton Hall Law School.
Authors
Jessica Beess und Chrostin, Covington & Burling
Joel Dahlquist, Managing Associate, Arbitration Chambers, and Co-Host, The Arbitration Station Podcast
Camilla Gambarini, Withers Worldwide
Jadranka Jakovcic, Curtis, Mallet-Prevost, Colt & Mosle
Brian Kotick, Winston & Strawn, and Co-Host, The Arbitration Station Podcast
Clémence Prévot, Independent Consultant
Bart Wasiak, Arnold and Porter Kaye Scholer
Liang-Ying Tan, Herbert Smith Freehills
Faculty
Stephen P. Anway, Squire Patton Boggs
Ulyana Bardyn, Eversheds Sutherland
Markus W. Gehring, University of Cambridge
Miriam K. Harwood, Squire Patton Boggs
Dawn Yamane Hewett, Quinn Emmanuel Urquhart & Sullivan
Ian A. Laird, Crowell & Moring and JURIS Conference Co-Chair and Organizer Emeritus
Sarah Lieber, Stifel, Nicolaus & Company, Inc.
Lucinda A. Low, Steptoe & Johnson
Tafadzwa Pasipanodya, Foley Hoag
Patrick W. Pearsall, Allen & Overy
Charles “Chip” Brower, Miller Canfield and Wayne State University School of Law
Jose Antonio Rivas, Xtrategy LLP
Amaia Rivas Kortazar, Ministry of Justice, Spain
Nicole Y. Silver, Greenberg Traurig
Claire Stockford, Eversheds Sutherland
Moderators
José Alberro, Cornerstone Research
Teddy Baldwin, Steptoe & Johnson
Timothy G. Nelson, Skadden, Arps, Slate, Meagher & Flom
Michael D. Nolan, Milbank, Tweed, Hadley & McCloy
Speaker
George A. Bermann, Gellhorn Prof. of Law & Jean Monnet Prof. in European Union Law, Director, Center for International Commercial and Investment Arbitration (CICIA), and Co-Director, European Legal Studies Center, Columbia University School of Law
"This volume is not for the beginner, nor was it meant to be. It does not provide answers to the many open and difficult questions in the area of investment treaty arbitration, for the simple reason that there are none. The publication is invaluable, however, for anyone who wishes to follow and understand the developments and the debates in this field."
- Kaj Hóber, Partner, Mannheimer Swartling, Stockholm; Professor of International Law, Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP), University of Dundee.
"This is not a book for the novitiate, nor is it a ready guide-book to investment treaty arbitration; this is a thought-provoking and substantial presentation of ideas in five particular topics and rightly deserves its place in the library of all who practice in this area. It is not a book for one to settle down and digest in one easy bite -- this book requires and commands time to properly consider. It is all the better for that attribute. Further volumes are awaited with much anticipation."
- Klaus Reichert, Brick Court Chambers is a Barrister and Chartered Arbitrator. He is former Co-Chair of the IBA Litigation Committee, is a member of the LCIA European Users' Council, the ICC Commission on Arbitration, IBA delegate to the Hague Conference on Private International Law
"This is a very wide-ranging work that brings together several generations of legal specialists from very different cultures of law; it includes highly original, even brilliant contributions."
- Droit Et Pratique Des Investissements Internationaux - (International Investments Law and Practice)
Editors
Meriam N. Al-Rashid is U.S. Chair of Public International Law and International Arbitration Co-Head of the Latin American Practice Group in Eversheds Sutherland’s New York office. She is a Partner in the International Arbitration and Litigation Practice Group where she focuses on international and commercial arbitration and risk management, covering various industries across the globe, including infrastructure, oil and gas, mineral resources, hospitality and real estate. Her experience includes participation in arbitration before the ICDR, LCIA, UNCITRAL, ICC, ICSID and the Permanent Court of Arbitration (PCA) at The Hague. Ms. Al-Rashid acts as arbitrator on commercial and investor-state disputes primarily involving parties from the Middle East and North Africa. She has served as counsel in disputes and transactions involving parties from Libya, South Africa, Iraq, Republic of Austria, the United Kingdom, and the United States among many others.
Dr. Kabir A.N. Duggal is Senior International Arbitration Specialist in Arnold & Porter Kaye Scholer’s International Arbitration Practice Group in New York focusing on international investment arbitration, international commercial arbitration and public international law matters. He also acts as a Consultant for the United Nations Office of the High Representative for Least Developed Countries, Landlocked Developing Countries and Small Island Developing State (UN-OHRLLS) and a Lecturer-in-Law at Columbia Law School. He is admitted to practice law in England and Wales (Solicitor), New York, Washington, D.C. and India. Mr. Duggal was named as a “Future Leader” in international arbitration by Who’s Who Legal (2017).
Miriam K. Harwood is Co-Head of the Squire Patton Boggs Investment Arbitration practice and a Partner in the world-ranked International Dispute Resolution Practice Group, based in the firm’s New York office. Her work in international arbitration includes commercial disputes and investment treaty claims on behalf of foreign states, governmental agencies and private entities in a broad array of cases. She has handled arbitrations under the authority of major international arbitral organizations, including the International Centre for Settlement of Investment Disputes (ICSID), the International Court of Arbitration (ICC), and under the rules of the United Nations Commission on International Trade and Law (UNCITRAL).
Todd J. Weiler’s practice has focused exclusively on international investment law and arbitration since being called to the bar of Ontario in 1999. He received a B.A. (Hons.) from the University of Waterloo (Canada), a M.A. and LL.B. from Western University (Canada), a LL.M. from the University of Ottawa, and a LL.M. and S.J.D. from the University of Michigan. He is also currently pursuing a Ph.D. in international and transnational history at Western University. From 1990 to 1996, he performed policy analysis for various departments of the Government of Canada and from 1997 to 1998 he clerked for Mr. Justice Howard Wetston at the Federal Court of Canada. In addition to inaugurating Juris’s conference and book series on international investment law and arbitration, Dr. Weiler is also a co-founder of both Investmentclaims.com, managed by Oxford University Press, and the Society of International Economic Law. His name has appeared on the Who’s Who Legal list of leading international arbitration lawyers since 2007 and on the Global Arbitration Review’s list of the world’s leading specialist international arbitration firms, the GAR 100, since 2011.
Associate Editor
Rekha Rangachari is the Executive Director of the New York International Arbitration Center (NYIAC). She serves as Co-Chair of the New York State Bar Association (NYSBA) Dispute Resolution Section’s International Dispute Resolution Committee, Co-Chair of the NYSBA International Section’s International Contracts and Commercial Law Committee, Member of the NYSBA House of Delegates, Co-Chair of the American Society of International Law’s (ASIL’s) Private International Law Interest Group, Board Member of the New York Coalition of Women’s Initiatives, the Association for Conflict Resolution of Greater New York (ACR-GNY), and Arbitral Women (AW), Steering Committee Member of the Pledge for Greener Arbitration, Fellow of the American Bar Foundation (ABF), and Adjunct Professor at Seton Hall Law School.
Authors
Jessica Beess und Chrostin, Covington & Burling
Joel Dahlquist, Managing Associate, Arbitration Chambers, and Co-Host, The Arbitration Station Podcast
Camilla Gambarini, Withers Worldwide
Jadranka Jakovcic, Curtis, Mallet-Prevost, Colt & Mosle
Brian Kotick, Winston & Strawn, and Co-Host, The Arbitration Station Podcast
Clémence Prévot, Independent Consultant
Bart Wasiak, Arnold and Porter Kaye Scholer
Liang-Ying Tan, Herbert Smith Freehills
Faculty
Stephen P. Anway, Squire Patton Boggs
Ulyana Bardyn, Eversheds Sutherland
Markus W. Gehring, University of Cambridge
Miriam K. Harwood, Squire Patton Boggs
Dawn Yamane Hewett, Quinn Emmanuel Urquhart & Sullivan
Ian A. Laird, Crowell & Moring and JURIS Conference Co-Chair and Organizer Emeritus
Sarah Lieber, Stifel, Nicolaus & Company, Inc.
Lucinda A. Low, Steptoe & Johnson
Tafadzwa Pasipanodya, Foley Hoag
Patrick W. Pearsall, Allen & Overy
Charles “Chip” Brower, Miller Canfield and Wayne State University School of Law
Jose Antonio Rivas, Xtrategy LLP
Amaia Rivas Kortazar, Ministry of Justice, Spain
Nicole Y. Silver, Greenberg Traurig
Claire Stockford, Eversheds Sutherland
Moderators
José Alberro, Cornerstone Research
Teddy Baldwin, Steptoe & Johnson
Timothy G. Nelson, Skadden, Arps, Slate, Meagher & Flom
Michael D. Nolan, Milbank, Tweed, Hadley & McCloy
Speaker
George A. Bermann, Gellhorn Prof. of Law & Jean Monnet Prof. in European Union Law, Director, Center for International Commercial and Investment Arbitration (CICIA), and Co-Director, European Legal Studies Center, Columbia University School of Law
"This volume is not for the beginner, nor was it meant to be. It does not provide answers to the many open and difficult questions in the area of investment treaty arbitration, for the simple reason that there are none. The publication is invaluable, however, for anyone who wishes to follow and understand the developments and the debates in this field."
- Kaj Hóber, Partner, Mannheimer Swartling, Stockholm; Professor of International Law, Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP), University of Dundee.
"This is not a book for the novitiate, nor is it a ready guide-book to investment treaty arbitration; this is a thought-provoking and substantial presentation of ideas in five particular topics and rightly deserves its place in the library of all who practice in this area. It is not a book for one to settle down and digest in one easy bite -- this book requires and commands time to properly consider. It is all the better for that attribute. Further volumes are awaited with much anticipation."
- Klaus Reichert, Brick Court Chambers is a Barrister and Chartered Arbitrator. He is former Co-Chair of the IBA Litigation Committee, is a member of the LCIA European Users' Council, the ICC Commission on Arbitration, IBA delegate to the Hague Conference on Private International Law
"This is a very wide-ranging work that brings together several generations of legal specialists from very different cultures of law; it includes highly original, even brilliant contributions."
- Droit Et Pratique Des Investissements Internationaux - (International Investments Law and Practice)
PART I - INVESTMENT ARBITRATION UNDER THE ENERGY CHARTER TREATY IN THE WAKE OF ACHMEA V. SLOVAKIA: ALLOWED OR FORBIDDEN?
CHAPTER 1 - Investment Arbitration under the Energy Charter Treaty in the Wake of Achmea v. Slovakia
Jadranka Jakovcic
CHAPTER 2 - Disputes Under the Energy Charter Treaty in the Wake of Achmea v. Slovakia Remain Arbitrable and Enforceable
Clemence Prevot
CHAPTER 3 - Investment Arbitration Under the Energy Charter Treaty in the Wake of Achmea v. Slovakia: Allowed or Forbidden? (PANEL DISCUSSION)
Teddy Baldwin
Jadranka Jakovcic
Clémence Prévot
Stephen Anway
Amaia Rivas Kortazar
Baiju Vasani
Miriam Harwood
PART II - THIRD PARTY FUNDING: CAN IT BE REGULATED? SHOULD IT BE REGULATED?
CHAPTER 4 - Third Party Funding in Investor-State arbitration: Should It Be Regulated? Can It Be regulated? - The Case for Regulation
Camilla Gambarini
CHAPTER 5 - Third Party Funding in Investor-State Arbitration: The Case Against Regulation of Third-Party Funding
Jessica Beess und Chrostin
CHAPTER 6 - Third Party Funding: Can it be Regulated? Should it be Regulated? (PANEL DISCUSSION)
José Alberro
Camilla Gambarini
Jessica Beess und Chrostin
Sarah Lieber
Meriam Al-Rashid
José Antonio Rivas
Claire Stockford
CHAPTER 7 - Keynote Address
George A. Bermann
PART III - CORRUPTION AFTER ESTABLISHMENT: SHOULD IT DISQUALIFY OTHERWISE MERITORIOUS CLAIMS?
CHAPTER 9 - Corruption After Establishment Should Not Disqualify Otherwise Meritorious Claims
Liang-Ying Tan
CHAPTER 10 - Corruption After Establishment: Should it Disqualify Otherwise Meritorious Claims? (PANEL DISCUSSION)
Michael Nolan
Bart Wasiak
Liang-Ying Tan
Rekha Rangachari
Dawn Yamane Hewett
Ian Laird
Tafadzwa Pasipanodya
PART IV - SHOULD COSTS GO WITH THE CAUSE IN INVESTMENT TREATY ARBITRATION?
CHAPTER 11 - The Loser Ought to Pay: In Search of a Predictable Presumption in Investment Arbitration Costs
Joel Dahlquist
CHAPTER 13 - Should Costs Go with the Cause in Investment Treaty Arbitration? (PANEL DISCUSSION)
Michael Nolan
Joel Dahlquist
Brian Kotick
Charles Brower
Lucinda Low
Nicole Silver
Patrick Pearsall
TABLE OF CASES
INDEX