Download This PaperTo ISDS or Not to ISDS: A Question of Legitimacy in Dispute Resolution
A Brand New World: The Evolution and Future of Arbitration, Chartered Institute of Arbitrators, London, 2019
12 Pages Posted: 18 Dec 2015 Last revised: 16 Nov 2020
Date Written: April 1, 2018
Abstract
Investor State Dispute Settlement (ISDS) has gained prominence in recent years with an explosion in the number of investor claims against states. While the evolution of this type of arbitration was expected, its focus and context was not. Investors are currently bringing actions against developed states in unanticipated policy areas. Greece, facing actions from investors challenging its debt haircut and Spain, battling investor challenges to its revamped energy policy are examples of the use of arbitration as a political as well as a dispute resolution tool. It is for this reason why the proposal for the inclusion of ISDS in the Transatlantic Trade and Investment Partnership (TTIP) has caused so much heated discussion. This paper examines the recent evolution and likely trajectory of investor state dispute settlement, reflecting on consequences for perceptions of arbitration and its links with politics and economics.
Keywords: ISDS, TTIP, Investment Court, Greece, Spain
JEL Classification: A12, P26, P48
Suggested Citation: Suggested Citation
Ioannis Glinavos (Contact Author)
University of Westminster - School of Law ( email )
4 Little Titchfield Street
London, England W1W 7UW
United Kingdom