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Domestic Law in International Investment Arbitration

International Economic Law Series

By (author) Jarrod Hepburn
Format: Hardback
Publisher: Oxford University Press, Oxford, United Kingdom
Published: 23rd Feb 2017
Dimensions: w 164mm h 240mm d 23mm
Weight: 528g
ISBN-10: 0198785739
ISBN-13: 9780198785736
Barcode No: 9780198785736
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Synopsis
Although domestic law plays an important role in investment treaty arbitration, this issue is little discussed or analysed. When should investment treaty tribunals engage with domestic law? How should investment treaty tribunals resolve matters of domestic law? These questions have significant ramifications for both the legitimacy of the investment treaty system and the arbitral mandate of the tribunal members. Drawing on case law, international law principles, and comparative analysis, this book addresses these important issues. Part I of the book examines three areas of investment law-the 'fair and equitable treatment' standard, expropriation, and remedies-in which the role of domestic law has so far been under-appreciated. It argues that tribunals are justified in drawing on domestic law as a relevant factor in their rulings on these three issues. Part II of the book examines how questions of domestic law should be resolved in investment arbitration. It proposes a normative framework for use by tribunals in ascertaining the contents of the domestic law to be applied. It then considers counter-arguments, exemptions, and exceptions to applying this framework, and it evaluates how tribunals have ruled on questions of domestic law to date. Investment treaty arbitration has endured much criticism in recent times, partly over fears of its encroachment on sovereignty. The book ultimately contends that closer attention by tribunals to one of the principal expressions of a state's sovereignty-the elaboration of its domestic law-will reduce criticism of the field.

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this is a well-researched and distinctive book. It provides a lot of food for thought; the author has produced detailed and perceptive analysis of a number of recent investment treaty cases. This book will appeal to a number of different audiences including those interested in the relationship between international and domestic law, and on-going debates about legitimacy in investment arbitration. It will also be of relevance to practitioners who are seeking to
develop (or resist) arguments based on domestic law. * Jonathan Ketcheson, The Journal of World Investment & Trade *