August Reinisch

This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The “feasibility study” presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.

This book outlines the protection standards typically contained in international investment agreements as they are actually applied and interpreted by investment tribunals. It thus provides a basis for analysis, criticism, and stocktaking of the existing system of investment arbitration. It covers all main protection standards, such as expropriation, fair and equitable treatment, full protection and security, the non-discrimination standards of national treatment and MFN, the prohibition of unreasonable and discriminatory measures, umbrella clauses and transfer guarantees. These standards are covered in separate chapters providing an overview of textual variations, explaining the origin of the standards and analysing the main conceptual issues as developed by investment tribunals. Relevant cases with quotations that illustrate how tribunals have relied upon the standards are presented in depth. An extensive bibliography guides the reader to more specific aspects of each investment standard permitting the book's use as a commentary of the main investment protection standards.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Written from a public international lawyer's perspective, this short but significant book gives a broad overview of international investment law (IIL), explaining core concepts of investment protection, their evolution, and how investment tribunals have interpreted them. It examines the main features of the prevailing investment dispute settlement system and takes into account historic antecedents and possible future developments. August Reinisch facilitates easy access to the field by putting international investment law into its broader historical, political and legal context. Key features include:a combination of academic and practical perspectivesa broad-based contextual introductiona nuanced, integrated overview of the links and connections between different areas of international investment law. This Advanced Introduction is an indispensable guide for students of law, political science, international relations and economics. Comprehensive and accessible, it is essential reading for lawyers, scholars and policy advisors seeking to further their understanding of international investment law.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Written from a public international lawyer's perspective, this short but significant book gives a broad overview of international investment law (IIL), explaining core concepts of investment protection, their evolution, and how investment tribunals have interpreted them. It examines the main features of the prevailing investment dispute settlement system and takes into account historic antecedents and possible future developments. August Reinisch facilitates easy access to the field by putting international investment law into its broader historical, political and legal context. Key features include:a combination of academic and practical perspectivesa broad-based contextual introductiona nuanced, integrated overview of the links and connections between different areas of international investment law. This Advanced Introduction is an indispensable guide for students of law, political science, international relations and economics. Comprehensive and accessible, it is essential reading for lawyers, scholars and policy advisors seeking to further their understanding of international investment law.

This book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The “feasibility study” presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.

This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The “feasibility study” presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.

Students new to the study of EU law can find knowing what questions to ask to be as much of a challenge as answering them. This book clearly sets the scene: it explores the history and institutions of the EU, examines the interplay of its main bodies in its legislative process and illustrates the role played by the EU Courts and the importance of fundamental rights. The student is also introduced to the key principles of the internal market, in particular the free movement of goods and the free movement of workers. In addition a number of other EU policies, such as the Common Agricultural Policy, Environmental Protection and Social Policy are outlined, while a more detailed inquiry is made into European competition law. This book is an essential first port-of-call for all students of European law.

A radical, empirical investigation of how national courts 'react' to disputes involving international organizations. Through comprehensive analysis of the attitudes and techniques of national courts and underlying political motives, Professor Reinisch first describes various legal approaches that result in adjudication or non-adjudication of disputes concerning international organizations. Secondly he discusses policy issues pro and contra the adjudication of such disputes. His study then scrutinizes the rationale for immunizing international organizations from domestic litigations, especially the 'functional' need for immunity, and substantially debates the implications of a human rights-based right of access to court on immunizing international organizations against national jurisdictions. Finally he identifies contemporary trends, seeking to ascertain whether a more flexible principle exempting certain types of disputes from domestic adjudication might substitute for the traditional immunity concept, which would simultaneously guarantee the functioning and independence of international organizations without impairing private parties' access to a fair dispute settlement procedure.

A radical, empirical investigation of how national courts ‘react’ to disputes involving international organizations. Through comprehensive analysis of the attitudes and techniques of national courts and underlying political motives, Professor Reinisch first describes various legal approaches that result in adjudication or non-adjudication of disputes concerning international organizations. Secondly he discusses policy issues pro and contra the adjudication of such disputes. His study then scrutinizes the rationale for immunizing international organizations from domestic litigations, especially the ‘functional’ need for immunity, and substantially debates the implications of a human rights-based right of access to court on immunizing international organizations against national jurisdictions. Finally he identifies contemporary trends, seeking to ascertain whether a more flexible principle exempting certain types of disputes from domestic adjudication might substitute for the traditional immunity concept, which would simultaneously guarantee the functioning and independence of international organizations without impairing private parties’ access to a fair dispute settlement procedure.