Quarterly Journal (January 2013)

Note: In October of 2005, the Investment Law and Policy News Bulletin was rebranded as Investment Treaty News (ITN). This archive contains past editions of the earlier News Bulletin, as well as more recent editions of ITN.

Counterclaims by States in Investment Arbitration

It is quite common in investment arbitration for the respondent State to include in its defense to treaty claims one or more criticisms of the investor’s underlying conduct. Yet while such arguments feature prominently in State defenses, they are rarely framed as counterclaims seeking affirmative relief. The reason may lie in an instinctive preference by States to pursue any affirmative claims in their own courts. But it may also lie in perceived limits to the jurisdiction of international tribunals to hear State counterclaims.

Two recent ICSID decisions have reached entirely different conclusions on the issue of jurisdiction over State counterclaims. This essay touches briefly on certain jurisprudential and policy factors that may explain the divergent results and frame future cases for further analysis.

ITN  |  January 14, 2013

Awards and Decisions

US$1.76 billion dollar award levied against Ecuador in dispute with Occidental; tribunal split over damages   Occidental Petroleum Corporation and Occidental Exploration and Production Company v. The Republic of Ecuador, ICSID Case No. ARB/06/11 Damon Vis-Dunbar The Republic of Ecuador has been ordered to pay US$1,769,625,000 billion in damages—the largest award to be handed down […]

ITN  |  January 14, 2013

News in Brief

Canada receives investor complaints over provincial energy and environment policies In recent months the government of Canada has received two complaints related to energy and environmental policies adopted by its provinces. Both investors have served Ottawa with notices of intent to submit a claim to arbitration under NAFTA’s investment chapter. A Delaware-based energy firm is […]

ITN  |  January 14, 2013

Resources and Events

Resources Foreign Direct Investment and Human Development: The Law and Economics of International Investment Agreements Edited by Olivier De Schutter, Johan Swinnen, Jan Wouters. Routledge, November 2012 This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment and considers how this affects the ability […]

The IMF’s New Transfers Policy and the Trading System

In late 2012, the International Monetary Fund (IMF) officially endorsed an “institutional view” on the management of capital flows. This short note provides an overview of the new IMF view, pinpoints how it may conflict with country obligations under trade and investment treaties, and discusses remedies for reform.

UNCTAD’s Investment Policy Framework for Sustainable Development: Potential and Issues

The United Nations Conference on Trade and Development (UNCTAD) has released its Investment Policy Framework for Sustainable Development (IPFSD). This article engages in an independent assessment of the IPFSD.

The Sixth Annual Forum of Developing Country Investment Negotiators: Understanding and Harnessing the New Models for Investment and Sustainable Development

The Sixth Annual Forum of Developing Country Investment Negotiators was held on October 29-31, 2012, in Port of Spain, Trinidad and Tobago. The forum encourages participants to develop their own critical perspectives on issues which are germane to the negotiation of international investment treaties.

Integrating Sustainable Development into International Investment Agreements: A Commonwealth Guide for Developing Country Negotiators

In November 2012 the Commonwealth Secretariat completed a practical guide, titled “Integrating Sustainable Development into International Investment Agreements: A Guide for Developing Countries,” to help enable developing countries to design international investment agreements that support their development needs.

Peru’s State Coordination and Response System for International Investment Disputes

Just as Peru has joined the global trend of concluding investment protection agreements, the country has also been no stranger to the considerable increase in international investment disputes observed in recent years. To address this growth in international investment arbitration in line with its investment attraction policy, Peru has created a system for efficiently and effectively resolving potential disputes.

ITN Quarterly January 2013

PDF – English (638KB) – Français (659 KB) – Español (629 KB) In this issue: Counterclaims by States in Investment Arbitration; The IMF’s New Transfers Policy and the Trading System; Peru’s State Coordination and Response System for International Investment Disputes; UNCTAD’s Investment Policy Framework for Sustainable Development: Potential and Issues; The Sixth Annual Forum of […]