Publication details
International Investment Arbitration: Investor-to-State Dispute Settlement in EU Agreements
| Authors | |
|---|---|
| Year of publication | 2015 |
| Type | Article in Proceedings |
| Conference | Cofola International 2015: Current Challenges to Resolution of International (Cross-border) Disputes: Conference Proceedings |
| MU Faculty or unit | |
| Citation | |
| Web | Open access konference |
| Field | Law sciences |
| Keywords | The Treaty of Lisbon; International Investment Arbitration; dispute resolution; International Investment Agreements; European Union |
| Description | The Treaty of Lisbon conferred new exclusive competence in the field of foreign direct investments on the European Union. It seems that 50-year-old fragmented system of investment law, based on bilateral investment treaties, took a new direction towards a comprehensive European international investment policy. Popularity and efficiency of international investment agreements derive mainly from the concept of investor-state dispute resolution (investment arbitration). New competences of the EU significantly impact on the resolution of disputes. This paper is focused on the role of both Commission and member states in arbitral proceedings. It analyses a new framework for managing financial responsibility when the investment agreement to which the European Union is party is breached. The Paper reveals that arbitration under European IIAs raise questions of responsibility and attribution. In order to prevent this uncertainty the character of European IIAs has to be clarified. Moreover, a division of responsibility included in the Regulation should be implemented into the IIAs. |
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