Investment Treaty Arbitration and International Law - Volume 14
This volume of Investment Treaty Arbitration and International Law contains the papers and proceedings of the 14th annual Juris Conference. It tackles four questions of systemic reform currently under consideration in various fora. The topics addressed in this book include:
• True or False: The USMCA Chapter on Investment Represents the New State-of-the-Art in Investment Protection Treaties?
• True or False: The Time has Come to Outlaw Double-Hatting?
• True or False: Thanks to Reforms Proposed Under the Auspices of the ICSID and UNCITRAL, Investor-State Dispute Settlement is Finally Headed in the Right Direction?
• True or False: Security for Costs Should be Mandated for Investor-State Arbitration?
PART I - TRUE OR FALSE: THE USMCA CHAPTER ON INVESTMENT REPRESENTS THE NEW STATE-OF-THE-ART IN INVESTMENT PROTECTION TREATIES?
CHAPTER 1 - Another New Normal? How the USMCA's State-of-the-Art Investment Chapter Can Guide Broader Change in Investor-State Dispute Resolution
Jennifer A. Ivers and Alyssa Howard
CHAPTER 3 - True or False: The USMCA Chapter on Investment Represents the New State-of-the-Art in Investment Protection Treaties? PANEL DISCUSSION
Jennifer A. Ivers
Alyssa Howard
Kate McNulty
Todd Weiler
Devin Bray
Michael Nolan
Ted Posner
Jennifer Thornton
Elizabeth Whitsitt
PART II - TRUE OR FALSE: THE TIME HAS COME TO OUTLAW DOUBLE-HATTING?
CHAPTER 4 - The Time Has Come to Prohibit Double-Hatting
Katelyn Horne
CHAPTER 5 - Prohibition, Regulation or Laissez Faire? Policy Trade-Offs of Double Hatting in Investment Treaty Arbitration
Guled Yusuf and Godwin Tan
CHAPTER 6 - True or False: The Time Has Come to Outlaw Double-Hatting? PANEL DISCUSSION
Katelyn Horne
Guled Yusuf
Godwin Tan
George Ruttinger
Kabir Duggal
Ian Laird
Danielle Morris
Fernando Tupa
PART III - TRUE OR FALSE: THANKS TO REFORMS PROPOSED UNDER THE AUSPICES OF THE ICSID AND UNCITRAL, INVESTOR-STATE DISPUTE SETTLEMENT IS FINALLY HEADED IN THE RIGHT DIRECTION?
CHAPTER 9 - True or False: Thanks to Reforms Proposed Under the Auspices of the ICSID and UNCITRAL, Investor-State Dispute Settlement is Finally Headed in the Right Direction? PANEL DISCUSSION
Eva Y. Chan
John Laird
Todd Weiler
Joshua Fellenbaum
Anna Holloway
Mark Kantor
José Antonio Rivas
Diora Ziyaeva
PART IV - TRUE OR FALSE: SECURITY FOR COSTS SHOULD BE MANDATED FOR INVESTOR-STATE ARBITRATION?
CHAPTER 10 - Security for Costs Should Be Mandated for Investor-State Arbitration
Carlos Guzmán Plascencia
CHAPTER 11 - Security for Costs as Interim Relief: The Strict Standard of the ICSID Jurisprudence Must be Preserved
Matilde Flores
CHAPTER 12 - True or False: Security for Costs Should be Mandated for Investor-State Arbitration? PANEL DISCUSSION
Carlos Guzmán Plascencia
Matilde Flores
Timothy Nelson
Jeffery Commission
Lindsay Gastrell
Miriam Harwood
Frédéric Sourgens
PART V - THE DIFFERENCE BETWEEN EVOLUTION AND REVOLUTION IN TRADE AND INVESTMENT DISPUTE SETTLEMENT MECHANISMS: OF CHAOS, CROSSROADS, AND THE ‘R’ FACTOR
CHAPTER 13 - Keynote Address
Lucinda Low
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
Eva Chan, Skadden, Arps, Slate, Meagher & Flom LLP
Matilde Flores, Chaffetz Lindsey LLP
Carlos Guzmán Plascencia, Squire Patton Boggs
Katelyn Horne, Arnold and Porter
Alyssa Howard, formerly at White & Case LLP
Jennifer Ivers, White & Case LLP
John Laird, Crowell & Moring LLP
Kate McNulty, Covington & Burling LLP
Guled Yusuf, Allen & Overy
Faculty
Devin Bray, International Centre for Appropriate Dispute Resolution and Prevention
Jeffery Commission, Burford Capital
Joshua Fellenbaum, Fieldfisher LLP
Lindsay Gastrell, Arbitration Chambers
Miriam Harwood, Squire Patton Boggs
Anna Holloway, ICSID
Mark Kantor, Independent Arbitrator
Ian Laird, Crowell & Moring LLP, and JURIS Conference Co-Chair Emeritus
Danielle Morris, WilmerHale
Michael Nolan, Arbitration Chambers
Ted Posner, Weil, Gotshal & Manges LLP
José Antonio Rivas, Xtrategy LLP, and Georgetown University Law Center
Frédéric Sourgens, Washburn University School of Law, and JURIS Conference Co-Chair Emeritus
Jennifer Thornton, United States House of Representatives, Committee on Ways & Means
Fernando Tupa, Curtis, Mallet-Prevost, Colt & Mosle LLP
Elizabeth Whitsitt, University of Calgary Faculty of Law
Diora Ziyaeva, Dentons
Moderators
Timothy Nelson, Skadden, Arps, Slate, Meagher & Flom LLP
George Ruttinger, Crowell & Moring LLP
Todd Weiler, Independent Arbitrator
Speaker
Lucinda Low, Steptoe & Johnson LLP
"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
Eva Chan, Skadden, Arps, Slate, Meagher & Flom LLP
Matilde Flores, Chaffetz Lindsey LLP
Carlos Guzmán Plascencia, Squire Patton Boggs
Katelyn Horne, Arnold and Porter
Alyssa Howard, formerly at White & Case LLP
Jennifer Ivers, White & Case LLP
John Laird, Crowell & Moring LLP
Kate McNulty, Covington & Burling LLP
Guled Yusuf, Allen & Overy
Faculty
Devin Bray, International Centre for Appropriate Dispute Resolution and Prevention
Jeffery Commission, Burford Capital
Joshua Fellenbaum, Fieldfisher LLP
Lindsay Gastrell, Arbitration Chambers
Miriam Harwood, Squire Patton Boggs
Anna Holloway, ICSID
Mark Kantor, Independent Arbitrator
Ian Laird, Crowell & Moring LLP, and JURIS Conference Co-Chair Emeritus
Danielle Morris, WilmerHale
Michael Nolan, Arbitration Chambers
Ted Posner, Weil, Gotshal & Manges LLP
José Antonio Rivas, Xtrategy LLP, and Georgetown University Law Center
Frédéric Sourgens, Washburn University School of Law, and JURIS Conference Co-Chair Emeritus
Jennifer Thornton, United States House of Representatives, Committee on Ways & Means
Fernando Tupa, Curtis, Mallet-Prevost, Colt & Mosle LLP
Elizabeth Whitsitt, University of Calgary Faculty of Law
Diora Ziyaeva, Dentons
Moderators
Timothy Nelson, Skadden, Arps, Slate, Meagher & Flom LLP
George Ruttinger, Crowell & Moring LLP
Todd Weiler, Independent Arbitrator
Speaker
Lucinda Low, Steptoe & Johnson LLP
"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 - TRUE OR FALSE: THE USMCA CHAPTER ON INVESTMENT REPRESENTS THE NEW STATE-OF-THE-ART IN INVESTMENT PROTECTION TREATIES?
CHAPTER 1 - Another New Normal? How the USMCA's State-of-the-Art Investment Chapter Can Guide Broader Change in Investor-State Dispute Resolution
Jennifer A. Ivers and Alyssa Howard
CHAPTER 3 - True or False: The USMCA Chapter on Investment Represents the New State-of-the-Art in Investment Protection Treaties? PANEL DISCUSSION
Jennifer A. Ivers
Alyssa Howard
Kate McNulty
Todd Weiler
Devin Bray
Michael Nolan
Ted Posner
Jennifer Thornton
Elizabeth Whitsitt
PART II - TRUE OR FALSE: THE TIME HAS COME TO OUTLAW DOUBLE-HATTING?
CHAPTER 4 - The Time Has Come to Prohibit Double-Hatting
Katelyn Horne
CHAPTER 5 - Prohibition, Regulation or Laissez Faire? Policy Trade-Offs of Double Hatting in Investment Treaty Arbitration
Guled Yusuf and Godwin Tan
CHAPTER 6 - True or False: The Time Has Come to Outlaw Double-Hatting? PANEL DISCUSSION
Katelyn Horne
Guled Yusuf
Godwin Tan
George Ruttinger
Kabir Duggal
Ian Laird
Danielle Morris
Fernando Tupa
PART III - TRUE OR FALSE: THANKS TO REFORMS PROPOSED UNDER THE AUSPICES OF THE ICSID AND UNCITRAL, INVESTOR-STATE DISPUTE SETTLEMENT IS FINALLY HEADED IN THE RIGHT DIRECTION?
CHAPTER 9 - True or False: Thanks to Reforms Proposed Under the Auspices of the ICSID and UNCITRAL, Investor-State Dispute Settlement is Finally Headed in the Right Direction? PANEL DISCUSSION
Eva Y. Chan
John Laird
Todd Weiler
Joshua Fellenbaum
Anna Holloway
Mark Kantor
José Antonio Rivas
Diora Ziyaeva
PART IV - TRUE OR FALSE: SECURITY FOR COSTS SHOULD BE MANDATED FOR INVESTOR-STATE ARBITRATION?
CHAPTER 10 - Security for Costs Should Be Mandated for Investor-State Arbitration
Carlos Guzmán Plascencia
CHAPTER 11 - Security for Costs as Interim Relief: The Strict Standard of the ICSID Jurisprudence Must be Preserved
Matilde Flores
CHAPTER 12 - True or False: Security for Costs Should be Mandated for Investor-State Arbitration? PANEL DISCUSSION
Carlos Guzmán Plascencia
Matilde Flores
Timothy Nelson
Jeffery Commission
Lindsay Gastrell
Miriam Harwood
Frédéric Sourgens
PART V - THE DIFFERENCE BETWEEN EVOLUTION AND REVOLUTION IN TRADE AND INVESTMENT DISPUTE SETTLEMENT MECHANISMS: OF CHAOS, CROSSROADS, AND THE ‘R’ FACTOR
CHAPTER 13 - Keynote Address
Lucinda Low
TABLE OF CASES
INDEX