The Role of Procedure in the Development of Investment Law: The Case of Section B of Chapter Eleven of NAFTA
EVOLUTION IN INVESTMENT TREATY LAW AND ARBITRATION, Chester Brown and Kate Miles, eds., Cambridge University Press, January 2012
25 Pages Posted: 22 Apr 2012
Date Written: February 19, 2011
Many scholars argue that the emergence of multiple and varied mechanisms for the settlement of economic disputes and of treaties providing for investment arbitration may be exacerbating what it is called a “fragmentation” process of international law. Today, economic actors seeking relief under international law may be forced to go to different courts or tribunals in order to seek compliance (i.e., conformity to the rules of a particular regime, including dispute resolution and interpretation provisions) and/or economic compensation for the State’s breach of its obligations. This may be increasing the risk that tribunals will come to inconsistent, conflicting and incompatible decisions. Faced with this danger, the question addressed in this chapter is as follows: in the absence of a homogeneous, hierarchical meta-system capable of doing away with problems derived from multiple and varied mechanisms for the settlement of economic disputes, can agreed procedural tools be a source of coordination?
Keywords: International Dispute Settlement, NAFTA, Investor-State Arbitration, International Law, Fragmentation, Coordination
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