The Concept of Legitimate Expectation in Investor-State Arbitration and the European Court of Human Rights
Вестник Международного Коммерческого Арбитража (Bulletin of the International Commercial Arbitration), Vol. 6, No. 2, 2012
12 Pages Posted: 7 Jan 2013
Date Written: January 5, 2013
Abstract
Taking into account the authoritative nature of decisions of the ECHR, the latter could become an additional instrument in the argumentation toolkit for both, the investors and the host states. As it can be observed from the emergence of scholarly discussions on the topic, principles of the ECHR could be applied in future investment disputes. Therefore, it is inevitable that concepts already evolved in the investor-state arbitrations would need to be compared and assessed through the prism of concepts established in the context of human rights. Since the main concern of the investor-state arbitration is related mainly with property rights, Article 1 of Protocol No. 1 of the European Convention on Human Rights (A1P1) and concepts evolved in regard of the latter could become of great importance in investment disputes. This article aims to compare a very narrow aspect which is found in both, case-law of the investor-state arbitration and in the practice of the ECHR – protection of legitimate expectation in the context of proprietary rights. Subsequently, the question which will be analyzed therein is whether there is a substantial difference between the concept of protection of legitimate expectation in the investor-state disputes and the ECHR, and could the latter supplement the principles established in foreign investment disputes.
Keywords: investment arbitration, ECHR, disputes, investor, legitimate expectation
JEL Classification: K33, K41, K11
Suggested Citation: Suggested Citation