Lawrence W. Newman has been a partner in the New York office of Baker & McKenzie since 1971, when, together with the late Professor Henry deVries, he founded the litigation department in that office. He is the author/editor of 4 works on international litigation/arbitration.
Michael Burrows, Formerly, Of Counsel, Baker & McKenzie, New York.
Governments of many developed as well as developing countries, apparently aware of the potential benefits as well as the risks of international investment, have entered into numerous bilateral and multilateral investment treaties to encourage foreign investment. Many of these treaties contain provisions permitting investors to seek relief through arbitration for actions taken against them by their host countries. Although the first of such treaties came into existence decades ago, it is only in recent years that aggrieved investors have with any frequency taken advantage of their rights thereunder. Investors under such treaties benefit from expansive definitions of what constitutes an investment and what constitutes a violation of customary international law. It is therefore worthwhile, when faced with a dispute involving international investment, for counsel to examine whether any such treaty applies.