3 ECTS credits
75 h study time
Offer 1 with catalog number 8020291GNR for all students in the 1st semester at a (G) Postgraduate - preliminary level.
Class 1. Introduction to International Investment Law
Content:
· Historic overview of the development of international investment law
· The origins and sources of investor-state arbitration
· The role of diplomatic protection in investment disputes + drawbacks and advantages of diplomatic protection
· The main institutions involved in international investment law
Class 2. The Investment Treaty Regime
· The 'treatification’ of international investment law
· The main content of investment treaties
· The use of Model BITs
· The purpose of BITs (from the perspective of capital-importing and capital-exporting states)
· The negotiating process of investment treaties
Class 3. Protection Standards in investment treaties, Part 1
· The beneficiaries of investment treaties (definition of ‘investment’ and ‘investor’)
· The expropriation standard (incl. problems of valuation of compensation)
· The free transfer clause
Class 4. Protection Standards in investment treaties, Part 2
· FET (European style+ NAFTA style minimum standard of customary international law, new CETA FET)
· MFN, NT
· Umbrella clause
· Full protection and security
· Exceptions (tax carve out, denial of justice, labour/environmental standards)
Class 5. The Investor-State Arbitration Process
· ICSID and other fora for investor-state arbitration
· Elements of ICSID Arbitration
o Jurisdiction of the Centre
o Selection of arbitrators
o Applicable law
o Costs
o ICSID Annulment
o Recognition, enforcement, and execution of the award
o Withdrawal of consent to arbitrate
Class 6. Practical session:
· Mock negotiation of a bilateral investment treaty
o Students are divided in small teams (capital exporting vs capital importing country) and will have the task to try and negotiate a bilateral investment treaty, considering their respective interests. Teams will receive the text of a model investment treaty and key interests, which serve as starting positions.
o After the negotiation session, the various teams briefly explain the outcome of their negotiation to the class, and why a compromise text could (not) be negotiated
Class 7. Recent developments in International Investment Law
· The exit of several south American states from ICSID
· The termination of BITs by an increasing number of states
· The public debate against ISDS and BITs (incl. issues of labour standards, environmental protection, controversy surrounding the Energy Charter Treaty)
· The reform efforts (modification protection standards, filter mechanisms, the UNCITRAL transparency rules)
· The newly proposed investment court system (ICS) in EU investment treaties & the push for the creation of a multilateral investment court
· International investment law in context: contracts, domestic investment codes and investment guarantees
Course material
Handbook (Required) : International Investment Law, Text, Cases and Materials, Krista Nadakavukaren Schefer, 3rd, Edward Elgar Publishing, 9781788977234, 2020
Study material
Slides prepared by the lecturers.
Selected case-law (will be provided in advance by the lecturer)
UNCTAD, Investment Policy Hub (available at: https://investmentpolicy.unctad.org/international-investment-agreements)
Complementary study material
Will be recommended by the lecturer.
Students will have an understanding of, and ability to apply, principles of the following:
• Foundations of International Investment Law
• Protection Standards contained in investment treaties
• Investment Treaty arbitration (procedural aspects, process, recognition and enforcement of awards)
• Recent developments in International Investment Law
The final grade is composed based on the following categories:
Oral Exam determines 100% of the final mark.
Within the Oral Exam category, the following assignments need to be completed:
Not applicable.
This offer is part of the following study plans:
Master of Laws: Dual Master in Comparative Corporate and Financial Law (only offered in Dutch)
Postgraduate Certificate Economic Diplomacy: Standaard traject
Postgraduate Certificate Flagship Programme in Economic Diplomacy and International Business: Standaard traject