Suchergebnisse

The Investment Chapter of the Comprehensive Economic and Trade Agreement (CETA) can be seen as an unofficial blueprint of future EU Investment Agreements and Chapters. It was developed under immense public pressure and had to fulfil multiple conditions resulting from the EU constitutional framework. This contribution highlights the political and juridical background of EU investment policy, and then analyses the most significant new approaches in international investment law - both with regard to substantive standards and investor-State dispute settlement - as exemplified in the CETA. With regard to the substance, it can be witnessed that states are more proactive in defining investment protection standards, leaving less discretion for adjudicators. With regard to dispute settlement, the EU managed to introduce a completely new Investment Court System (ICS) with preselected adjudicators and an appellate mechanism. In light of all these developments, this article argues that we are currently facing a complete change of paradigms in EU investment law, heading towards the EU's long-term goal of establishing a Multilateral Investment Court (MIC).

Abstract
The recent practice of States to amend, suspend or terminate investment treaties has moved questions of potential 'post-termination responsibility' to the forefront of the contemporary legal discourse in international investment law. Although States have often included provisions in their respective treaties to regulate post-termination protection of investments, some aspects of the aftermath of treaty terminations are still unsettled. This article defines and discusses various types of 'post-termination responsibility' by reviewing current practice, doctrine and jurisprudence on the matter. In that vein, it examines terminations, modifications and suspensions that were unlawful and ineffective, or effective but not capable of releasing the State from all treaty obligations either by virtue of survival clauses or separate principles of vested or third-party rights. It then elaborates on denunciations of the ICSID Convention or terminations of BITs and their effects on pending proceedings or the right to initiate proceedings in the future. Moreover, the article discusses whether survival clauses apply solely to unilateral or also to mutual terminations of investment treaties. It will also address the question whether investor rights may continue to be protected as a result of acquired/vested rights or third-party rights. By analysing the most recent jurisprudence and practice of States, as well as more general foundations of general international law, this article aims to contribute to a clarification of these questions.

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