Reference : Recalibrating the International Investment Regime through Narrowed Jurisdiction
Scientific journals : Article
Law, criminology & political science : Judicial law
http://hdl.handle.net/10993/48626
Recalibrating the International Investment Regime through Narrowed Jurisdiction
English
Garcia Olmedo, Javier mailto [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL) >]
5-Apr-2020
International and Comparative Law Quarterly
Cambridge University Press
Yes
0020-5893
United Kingdom
[en] Investor–State arbitration ; treaty drafting ; nationality
[en] The legitimacy crisis confronting the international investment regime has called for reforms to eliminate the asymmetric and troubled nature of investment treaties. These instruments grant extensive investor protections without offering reciprocal safeguards for host States wishing to preserve regulatory space. This article argues that any reform designed to redress imbalances in the existing regime should first aim at narrowing the personal jurisdiction of investment tribunals. Problematically, access to most investment treaties depends on broad nationality requirements, which have enabled investors to use corporations or passports of convenience to obtain treaty protection. This practice exacerbates the unbalanced relationship between host States and investors. It increases host States’ exposure to investment treaty claims and allows investors to circumvent newer, more State-oriented investment treaties. Using as an example the novel anti-nationality planning approach embraced in the 2019 Dutch Model BIT, this article suggests effective treaty mechanisms that States can adopt to restrict the range of investors that are entitled to claim.
http://hdl.handle.net/10993/48626

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