State Succession to Investment Treaties: Mapping the Issues

Abstract

Over the past two decades, as the discipline has moved into the legal mainstream, investment lawyers have engaged with many core aspects of public international law. State succession - a particularly thorny question undoubtedly belonging to the core of public international law - has so far not prompted much debate, but recent decisions in cases such as Sanum v Laos and World Wide Minerals v Kazakhstan is likely to change this.

Against the background of recent cases, this article provides a comprehensive assessment of State succession issues that have arisen, or are likely to arise, in relation to investment treaties. It situates debates by outlining the general legal regime of State succession and comparing it to investment treaty practice.

Surveying State practice and international jurisprudence, the article provide investment lawyers and practitioners with a guide to the key issues arising in State succession disputes.

Keywords: State succession, investment treaties, investment arbitration, ICSID

JEL Classification: K33, K39