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Brexit Lawsuits and ISDS

Posted: 28 Jun 2017 Last revised: 12 Jan 2018

Ioannis Glinavos

University of Westminster - School of Law

Date Written: June 27, 2017


This paper explores how the Fair and Equitable Treatment (FET) standard and the idea of protecting the investor’s legitimate expectations could form the basis of a claim against the UK government for the consequences of Brexit. The discussion operationalises this through the presentation of a case study. We consider the position of foreign financial firms that established themselves in the City of London to take advantage of the UK’s much lauded position as the centre of European finance and investigate their options in pursuing a claim through investment treaty arbitration. The paper concludes that it is possible for an investor to win such a case.

Keywords: ISDS, Brexit, Arbitration, ICSID, Tribunals, Britain, EU, Passporting, Financial Services

JEL Classification: A12, P26, P48

Suggested Citation

Glinavos, Ioannis, Brexit Lawsuits and ISDS (June 27, 2017). Available at SSRN: or

Ioannis Glinavos (Contact Author)

University of Westminster - School of Law ( email )

4 Little Titchfield Street
London, England W1W 7UW
United Kingdom

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