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The Adequacy of Reasoning in the Arbitral Tribunal's Decision in Saluka Investments v. Czech Republic


George S. Georgiev


University of California, Los Angeles (UCLA)

January 31, 2008

Chapter 5 in "The Reasons Requirement in International Investment Arbitration: Critical Case Studies" (Guillermo Aguilar Alvarez & W. Michael Reisman eds., 2008).

Abstract:     
This paper was published in an edited volume which contained the first-ever systematic analysis of the emerging body of international investment arbitration jurisprudence with respect to the quality and adequacy of the reasoning provided by arbitration tribunals and their compliance with the little-understood reasons requirements embedded in each of the various investment arbitration legal frameworks. The paper presents a critical examination of the arbitral tribunal’s judgment in Saluka v. Czech Republic, a complex bilateral investment treaty case relating to a failed bank privatization transaction, which implicated a series of private and public international law claims, including claims for breaches of obligations relating to fair and equitable treatment, full security and protection, and non-impairment, as well as claims of unlawful expropriation. The paper contains an original analysis of the precise content of the reasons requirement under the UNCITRAL Arbitration Rules, which governed the arbitration, including as contrasted with the corresponding requirements under other international investment arbitration frameworks. In addition, the paper offers insights into the benefits of well-reasoned international investment arbitration judgments and synthesizes criteria that can be deployed to assess the quality of reasoning in such judgments.

Number of Pages in PDF File: 28

Keywords: international investment arbitration, ICSID Convention, UNCITRAL Arbitration Rules, fair and equitable treatment standard

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Date posted: November 16, 2008 ; Last revised: October 7, 2014

Suggested Citation

Georgiev, George S., The Adequacy of Reasoning in the Arbitral Tribunal's Decision in Saluka Investments v. Czech Republic (January 31, 2008). Chapter 5 in "The Reasons Requirement in International Investment Arbitration: Critical Case Studies" (Guillermo Aguilar Alvarez & W. Michael Reisman eds., 2008).. Available at SSRN: http://ssrn.com/abstract=1300682 or http://dx.doi.org/10.2139/ssrn.1300682

Contact Information

George S. Georgiev (Contact Author)
University of California, Los Angeles (UCLA) ( email )
405 Hilgard Avenue
Box 951361
Los Angeles, CA 90095
United States
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