International Investment Proceedings: Converging Principles?

Abstract

This is the text of my Morelli Lectures delivered at the University of Rome in June of 2016. In these lectures, I advance two theses. Firstly, the legal analysis of the international investment law should focus not on treaties, rules or cases, but on certain ‘stances’ or ‘positions’ that are important – perhaps the most important – ‘micro drivers’ of the dynamics of the entire investment law system. Secondly, these stances should be analysed in the light of their implications not only for investment proceedings or even the overall relation between foreign investors and host States but as one part of a larger context, involving other stakeholders, values and legal systems.

Keywords: investment proceedings, definition of investment, legality of investments, indirect shareholder claims, treaty and custom, police powers, countermeasures