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Published online by Cambridge University Press: 27 February 2017
1 Such as the author’s unfortunate decision to entitle his final chapter, describing investor-state arbitral tribunals, “The Businessman’s Court.”
2 See, e.g., UN Conference on Trade and Development, World Investment Report 2007: Transnational Corporations, Extractive Industries and Development 3 fig. 1 (2007).
3 Cf. Barton, Legum The Innovation of Investor-State Arbitration Under NAFTA , 43 Harv. Int’l L. J. 531 (2002)Google Scholar (arguing that investor-state dispute settlement under NAFTA Chapter 11 is not an unprecedented development in U.S. history).
4 See, e.g., Weiler, J. H. H. The Transformation of Europe , 100 Yale L.J. 2403 (1991)CrossRefGoogle Scholar; Robert, O. Keohane Andrew, Moravcsik & Anne-Marie, Slaughter Legalized Dispute Settlement: Interstate and Transnational , 54 Int’l. Org. 457 (2000).Google Scholar
5 Jan, Paulsson Arbitration Without Privity , 10 ICSID Rev. 232 (1995).Google Scholar
6 473 U.S. 614(1985).
7 G.A. Res. 1803 (XVII), Permanent Sovereignty over Natural Resources (Dec. 14, 1962).
8 CMS Gas Transmission Co. v. Argentine Republic, ICSID Case No. ARB/01/08, Award (May 12, 2005), 44 ILM 1205 (2005).
9 See LG&E Energy Corp. v. Argentine Republic, ICSID Case No. Arb/02/1, Decision on Liability (Oct. 3, 2006); Enron Corp. v. Argentine Republic, ICSID Case No. Arb/01/3, Award (May 22, 2007); Sempra Energy Int’l v. Argentine Republic, ICSID Case No. Arb/02/16, Award (Sept. 28, 2007).
10 See Susan, D. Franck Empirically Evaluating Claims About Investment Treaty Arbitration , 86 N. C. L. Rev. 1 (2007)Google Scholar. Franck found no evidence of pro-investor bias. Of the 52 cases (out of 102 she examined) that proceeded to a conclusion, in 31 the investor received no damages, and in the 21 that did award damages, only 8 resulted in awards of more than $5 million, of which only 4 exceeded $ 10 million. Franck’s data on the diversity of the arbitrators involved in these cases also undercut the view that investment arbitrators consist of a small group of geographically nondiverse repeat players, or “mafia.” Id. at 75–81.
11 See, e.g., World Investment Report 2007, supra note 2, at 14 tbl. 1.7.
12 See 2004 U.S. Model BIT, at <http://www.state.gov/documents/organization/38710.pdf>; Canadian Model Foreign Investment Promotion and Protection Agreement (2003), at <http://ita.law.uvic.ca/documentsZCanadian2004-FIPA-model-en.pdf>.
13 See, e.g., Macdonald, R. St. J. The Margin of Appreciation, in The European System for The Protection of Human Rights 83 (Macdonald, R. St. J. Matscher, F. & Petzold, H. eds., 1993).Google Scholar
14 See, e.g., Oil Platforms (Iran v. U.S.), 2003 ICJ REP. 161, para. 48 (Nov. 6) (rejecting application of a margin of appreciation); Siemens A.G. v. Argentine Republic, ICSID Case No. ARB/02/8, Award, para. 354 (Feb. 6, 2007) (indicating that Protocol 1 of the European Convention on Human Rights permits a margin of appreciation “not found in customary international law”).
15 See, e.g., John, H. Jackson William, J. Davey & Alan, O. Sykes Jr. Legal Problems of International Economic Relations, 327–33 (5th ed. 2008).Google Scholar
16 See generally, American Society of International Law Task Force on International Professional Responsibility, Final Report, at <http://international.ncbar.org/Newsletters+/Newsletters/Downloads_GetFile.aspx?id=6877>.
17 Deborah Z. Cass, The Constitutionalization Of The World Trade Organization (2005).
