Investment Treaty Arbitration and International Law - Volume 15
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This volume of Investment Treaty Arbitration and International Law contains the papers and proceedings of the 15th annual Juris Conference. It tackles four questions of systemic reform currently under consideration in various fora. The topics addressed in this book include:
• The ICSID/UNCITRAL Draft Code of Conduct for Arbitrators: Voluntary or Mandatory?
• Yes or No: The Global SARS-COVID-19 Pandemic Should Have No Impact on the Valuation of Expropriations that Occurred Before 2020?
• Better or Worse: Comparing the New Model BITs of India, Colombia, the Czech Republic, and the Netherlands with Their Respective Predecessors or Older Treaties?
• Focus on Substance v. Dispute Resolution Forum: What Is the Best Way to Go About the ISDS Reform Process?
PART I - The ICSID/UNCITRAL Draft Code of Conduct for Arbitrators: Voluntary or Mandatory?
CHAPTER 2 - The UNCITRAL Draft Code of Conduct for Adjudicators: The Case for a Mandatory Code of Conduct
Namrata Shah
CHAPTER 3 - The ICSID/UNCITRAL Draft Code of Conduct for Arbitrators: Voluntary or Mandatory? PANEL DISCUSSION
Stephen Jagusch
Mercy Okiro
Namrata Shah
Mohamed Abdel Wahab
Hafez Virjee
Rekha Rangachari
John Fellas
PART II - Yes or No: The Global SARS-COVID-19 Pandemic Should Have No Impact on the Valuation of Expropriations that Occurred Before 2020?
CHAPTER 5 - The SARS-Covid-19 Pandemic Should Have an Impact on the Valuation of Expropriations Before 2020
Alexander A. Witt
CHAPTER 6 - Yes or No: The Global SARS-COVID-19 Pandemic Should Have No Impact on the Valuation of Expropriations that Occurred Before 2020? PANEL DISCUSSION
Sabine Konrad
Elizabeth Chan
Alexander A. Witt
Isabel Kunsman
Tina Cicchetti
Robert Volterra
Funke Adekoya
CHAPTER 7 - Keynote Address: A Climate Change Checklist for Investor-state Arbitration
Annette Magnusson
PART III - Better or Worse: Comparing the New Model BITs of India, Colombia, the Czech Republic, and the Netherlands with Their Respective Predecessors or Older Treaties?
CHAPTER 9 - Feeding the Rebalancing Myth? A Review of the Recent Model Bilateral Investment Treaties
Paola Patarroyo
CHAPTER 10 - Better or Worse: Comparing the New Model BITs of India, Colombia, the Czech Republic, and the Netherlands with Their Respective Predecessors or Older Treaties? PANEL DISCUSSION
Freya Baetens
Cherine Foty
Paola Patarroyo
Martina Polasek
Melida Hodgson
Crina Baltag
Ian Laird
PART IV - Focus on Substance v. Dispute Resolution Forum: What Is the Best Way to Go About the ISDS Reform Process?
CHAPTER 11 - Procedural Reforms: The Agent of Changing the ISDS Regime
Ibrahim Shehata
CHAPTER 12 - Reforming International Investment Law: Why “Procedure Over Substance” Is the Wrong Approach
Sudhanshu Roy
CHAPTER 13 - Focus on Substance v. Dispute Resolution Forum: What Is the Best Way to Go About the ISDS Reform Process? PANEL DISCUSSION
Tai-Heng Cheng
Ibrahim Shehata
Sudhanshu Roy
Nicole Silver
Julie Bedard
Chiann Bao
Freddy Sourgens
TABLE OF CASES
INDEX
Editors
Dr. Kabir Duggal is an Attorney in Arnold and Porter’s New York office focusing on international arbitration and public international law matters, serving both as arbitrator and mediator. He is recognized as a “Chartered Arbitrator” (the highest ranking for arbitrators) by both the Chartered Institute of Arbitrators and the Asian Institute of Alternative Dispute Resolution. He also frequently serves as an expert on international arbitration and public international law matters. Dr. Duggal is also a Lecturer-in-Law at Columbia Law School, an adjunct Professor at Fordham Law School, and a Course Director and a Faculty Member for the Columbia Law School-Chartered Institute of Arbitrators Comprehensive Course on International Arbitration. He also acts as a Consultant for the United Nations Office of the High Representative for Least Developed Countries (UN-OHRLLS) on the creation of a novel “Investment Support Program.” Dr. Duggal works closely with the U.S. Department of Commerce’s Commercial Law Development Program (CLDP) as an expert and has undertaken capacity-building workshops in Georgia, Kosovo, Bosnia & Herzegovina. He has also conducted training and capacity-building sessions for several Governments including Colombia, Saudi Arabia, Myanmar, India, Philippines among others on public international law and dispute resolution matters. He also serves on the Federal Republic of Somalia’s New York Convention Task Force as well as the WTO Negotiating Team (International Board). He has published over 60 articles and has spoken at over 300 arbitration events all over the world. He is also a passionate advocate for diversity, equity, and inclusion issues and frequently writes and speaks on these issues. He is the Co-Founder of REAL (Racial Equality for Arbitration Lawyers), a non-profit seeking to create greater representation in international arbitration. He is a graduate of the University of Mumbai, University of Oxford (DHL-Times of India Scholar), NYU School of Law (Hauser Global Scholar), Leiden Law School (2019 CEPANI Academic Prize), and is currently pursuing an SJD Degree from Harvard Law School. Dr. Duggal is admitted to practice law in New York, District of Columbia, England & Wales (as a Barrister), and in India.
Todd Weiler is an Independent International Arbitrator and expert on international investment law and practice. 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
Elizabeth Chan, Tanner De Witt (Hong Kong)
Cherine Foty, Covington & Burling LLP (Washington, DC)
Mercy Okiro, Mount Kenya University School of Law
Paola Patarroyo, United Nations
Sudhanshu Roy, Foley Hoag (Washington, DC)
Namrata Mayur Shah, Rashmikant and Partners (Mumbai)
Ibrahim Shehata, Shehata & Partners (Cairo)
Alexander A. Witt, Orrick Herrington & Sutcliffe LLP (London)
Faculty
Mohamed Abdel Wahab, Zulficar & Partners (Cairo)
Funke Adekoya, AELEX (Lagos)
Crina Baltag, Stockholm University
Chiann Bao, Independent Arbitrator
Julie Bédard, Skadden, Arps, Slate, Meagher & Flom (New York)
Tina Cicchetti, Independent Arbitrator
John Fellas, Independent Arbitrator
Mélida Hodgson, Jenner & Block (New York)
Isabel Kunsman, Alix Partners (Washington, DC)
Ian Laird, Crowell Morning (Washington, DC)
Martina Polasek, ICSID
Nicole Silver, Greenberg Taurig (Washington, DC)
Frédéric Sourgens, Washburn University
Hafez Virjee, Independent Arbitrator
Robert Volterra, Volterra Fietta (London)
Moderators
Freya Baetens, Leiden University
Tai-Heng Cheng, Sidley Austin (New York, Singapore)
Stephen Jagusch, Quinn Emanuel Urquhart & Sullivan (London)
Sabine Konrad, Morgan Lewis (Frankfurt)
Speaker
Annette Magnusson – Co-founder, Climate Change Counsel
"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
Dr. Kabir Duggal is an Attorney in Arnold and Porter’s New York office focusing on international arbitration and public international law matters, serving both as arbitrator and mediator. He is recognized as a “Chartered Arbitrator” (the highest ranking for arbitrators) by both the Chartered Institute of Arbitrators and the Asian Institute of Alternative Dispute Resolution. He also frequently serves as an expert on international arbitration and public international law matters. Dr. Duggal is also a Lecturer-in-Law at Columbia Law School, an adjunct Professor at Fordham Law School, and a Course Director and a Faculty Member for the Columbia Law School-Chartered Institute of Arbitrators Comprehensive Course on International Arbitration. He also acts as a Consultant for the United Nations Office of the High Representative for Least Developed Countries (UN-OHRLLS) on the creation of a novel “Investment Support Program.” Dr. Duggal works closely with the U.S. Department of Commerce’s Commercial Law Development Program (CLDP) as an expert and has undertaken capacity-building workshops in Georgia, Kosovo, Bosnia & Herzegovina. He has also conducted training and capacity-building sessions for several Governments including Colombia, Saudi Arabia, Myanmar, India, Philippines among others on public international law and dispute resolution matters. He also serves on the Federal Republic of Somalia’s New York Convention Task Force as well as the WTO Negotiating Team (International Board). He has published over 60 articles and has spoken at over 300 arbitration events all over the world. He is also a passionate advocate for diversity, equity, and inclusion issues and frequently writes and speaks on these issues. He is the Co-Founder of REAL (Racial Equality for Arbitration Lawyers), a non-profit seeking to create greater representation in international arbitration. He is a graduate of the University of Mumbai, University of Oxford (DHL-Times of India Scholar), NYU School of Law (Hauser Global Scholar), Leiden Law School (2019 CEPANI Academic Prize), and is currently pursuing an SJD Degree from Harvard Law School. Dr. Duggal is admitted to practice law in New York, District of Columbia, England & Wales (as a Barrister), and in India.
Todd Weiler is an Independent International Arbitrator and expert on international investment law and practice. 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
Elizabeth Chan, Tanner De Witt (Hong Kong)
Cherine Foty, Covington & Burling LLP (Washington, DC)
Mercy Okiro, Mount Kenya University School of Law
Paola Patarroyo, United Nations
Sudhanshu Roy, Foley Hoag (Washington, DC)
Namrata Mayur Shah, Rashmikant and Partners (Mumbai)
Ibrahim Shehata, Shehata & Partners (Cairo)
Alexander A. Witt, Orrick Herrington & Sutcliffe LLP (London)
Faculty
Mohamed Abdel Wahab, Zulficar & Partners (Cairo)
Funke Adekoya, AELEX (Lagos)
Crina Baltag, Stockholm University
Chiann Bao, Independent Arbitrator
Julie Bédard, Skadden, Arps, Slate, Meagher & Flom (New York)
Tina Cicchetti, Independent Arbitrator
John Fellas, Independent Arbitrator
Mélida Hodgson, Jenner & Block (New York)
Isabel Kunsman, Alix Partners (Washington, DC)
Ian Laird, Crowell Morning (Washington, DC)
Martina Polasek, ICSID
Nicole Silver, Greenberg Taurig (Washington, DC)
Frédéric Sourgens, Washburn University
Hafez Virjee, Independent Arbitrator
Robert Volterra, Volterra Fietta (London)
Moderators
Freya Baetens, Leiden University
Tai-Heng Cheng, Sidley Austin (New York, Singapore)
Stephen Jagusch, Quinn Emanuel Urquhart & Sullivan (London)
Sabine Konrad, Morgan Lewis (Frankfurt)
Speaker
Annette Magnusson – Co-founder, Climate Change Counsel
"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 - The ICSID/UNCITRAL Draft Code of Conduct for Arbitrators: Voluntary or Mandatory?
CHAPTER 2 - The UNCITRAL Draft Code of Conduct for Adjudicators: The Case for a Mandatory Code of Conduct
Namrata Shah
CHAPTER 3 - The ICSID/UNCITRAL Draft Code of Conduct for Arbitrators: Voluntary or Mandatory? PANEL DISCUSSION
Stephen Jagusch
Mercy Okiro
Namrata Shah
Mohamed Abdel Wahab
Hafez Virjee
Rekha Rangachari
John Fellas
PART II - Yes or No: The Global SARS-COVID-19 Pandemic Should Have No Impact on the Valuation of Expropriations that Occurred Before 2020?
CHAPTER 5 - The SARS-Covid-19 Pandemic Should Have an Impact on the Valuation of Expropriations Before 2020
Alexander A. Witt
CHAPTER 6 - Yes or No: The Global SARS-COVID-19 Pandemic Should Have No Impact on the Valuation of Expropriations that Occurred Before 2020? PANEL DISCUSSION
Sabine Konrad
Elizabeth Chan
Alexander A. Witt
Isabel Kunsman
Tina Cicchetti
Robert Volterra
Funke Adekoya
CHAPTER 7 - Keynote Address: A Climate Change Checklist for Investor-state Arbitration
Annette Magnusson
PART III - Better or Worse: Comparing the New Model BITs of India, Colombia, the Czech Republic, and the Netherlands with Their Respective Predecessors or Older Treaties?
CHAPTER 9 - Feeding the Rebalancing Myth? A Review of the Recent Model Bilateral Investment Treaties
Paola Patarroyo
CHAPTER 10 - Better or Worse: Comparing the New Model BITs of India, Colombia, the Czech Republic, and the Netherlands with Their Respective Predecessors or Older Treaties? PANEL DISCUSSION
Freya Baetens
Cherine Foty
Paola Patarroyo
Martina Polasek
Melida Hodgson
Crina Baltag
Ian Laird
PART IV - Focus on Substance v. Dispute Resolution Forum: What Is the Best Way to Go About the ISDS Reform Process?
CHAPTER 11 - Procedural Reforms: The Agent of Changing the ISDS Regime
Ibrahim Shehata
CHAPTER 12 - Reforming International Investment Law: Why “Procedure Over Substance” Is the Wrong Approach
Sudhanshu Roy
CHAPTER 13 - Focus on Substance v. Dispute Resolution Forum: What Is the Best Way to Go About the ISDS Reform Process? PANEL DISCUSSION
Tai-Heng Cheng
Ibrahim Shehata
Sudhanshu Roy
Nicole Silver
Julie Bedard
Chiann Bao
Freddy Sourgens
TABLE OF CASES
INDEX