International Economic Law

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Ecuador Denounces ICSID: Much Ado About Nothing?

Much has been made of Ecuador's recent withdrawal from the Convention on the Settlement of Investment Disputes between States and Nationals of Other States ('ICSID'). The notice has the effect of terminating the jurisdiction of the Centre effective 7 January 2010. The most reported justification for this move is the perception in many Latin American countries that international investment arbitration is biased towards investors (see comment entitled 'International Investment Arbitration: Poisoned at the Root?'), and more specifically, outstanding international investment claims against Ecuador in the range of $10 to $12 billion US. However, on review of Ecuador's international legal position, and, more specifically, international legal obligations generated by her outstanding bilateral investment treaties, it seems that withdrawal from ICSID, whilst perhaps remaining a poignant political statement, offers less than might first be thought in terms of radical change with respect to the country's exposure to investment claims.

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Fools Gold? Legitimate Expectations as Understood in Glamis Gold v USA

The recent decision of Glamis Gold v USA constitutes a leap forward in the articulation of norms of international investment law.  Paragraphs 1 through 9 contain an admirable description of the role of ad-hoc international investment tribunals in the determination of claims, a description that is articulate, precise, accurate and well measured. Such a development is to…

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Investment Treaties and EU law

Piet Eeckhout is Professor of Law and Director of the Centre for European Law at King's College London. In two parallel decisions of March of this year (Case C-249/06 Commission v Sweden and Case C-205/06 Commission v…

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International Investment Arbitration: Poisoned at the Root?

 Tolga R Yalkin is a graduate student in the Faculty of Law, University of Oxford and President of Oxford Pro Bono Publico, a public interest law program of the Oxford Law Faculty. His Oxford thesis considers the international minimum standard of treatment in international investment law.  Earlier…

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The Tension between International Law as ‘Law’ and International Governance: A Comment on the EJIL Debate between Mónica García-Salmones and Andrew Lang and Rosie Cooney

Dr Caroline Foster is a Senior Lecturer in Law at the University of Auckland, New Zealand and was a diplomat and legal adviser at the New Zealand Ministry of Foreign Affairs and Trade. She has a special interest in the nexus between trade, human rights and the environment and she has…

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