The Library
Legitimacy concerns in investor-state dispute settlement
Tools
Kilic, Neriman (2019) Legitimacy concerns in investor-state dispute settlement. PhD thesis, University of Warwick.
|
PDF
WRAP_Theses_Kilic_2019.pdf - Submitted Version - Requires a PDF viewer. Download (2100Kb) | Preview |
Official URL: http://webcat.warwick.ac.uk/record=b3490517~S15
Abstract
The system of Investor-State Dispute Settlement (ISDS) is not based on a formally recognized hierarchical structure amongst tribunals. In fact, tribunals are created on a case by case basis and therefore, exist only to settle the dispute before them. Moreover, there is no unified statement of International Investment Law (IIL) norms, rather investment norms are currently found in investment agreements which are more than 3000 in number.
The fragmented nature of the system of ISDS and IIL give rise to certain concerns of illegitimacy. For instance, the absence of a formally recognized hierarchical structure amongst tribunals has led to inconsistent decisions even when the facts and the applicable rules were similar. Moreover, even though investment disputes involve issues that have an impact beyond the parties, institutional rules and investment agreements do not provide uniform rules on transparency. Lastly, broad interpretations of investment standards by tribunals have led to an imbalance between the interests of investment protection and the right of states to adopt legitimate policy measures. In light of these concerns, states and non-party stakeholders have begun to question the legitimacy of the current system of ISDS.
Solutions that can be adopted to remedy these concerns, without requiring a fundamental reform of the system of ISDS are not be capable of adequately resolving all three concerns that have given rise to a crisis of legitimacy. It is proposed that the most viable solution is to reach consensus on replacing all investment treaties with an Multilateral Investment Agreement (MAI), and to establish a standing two-tiered international court system to interpret it. The adoption of this proposal, it is argued, would go a long way in resolving the legitimacy crisis that the system is currently suffering from.
Item Type: | Thesis (PhD) | ||||
---|---|---|---|---|---|
Subjects: | K Law [Moys] > KC International Law | ||||
Library of Congress Subject Headings (LCSH): | Dispute resolution (Law), Arbitration and award, Investments, Foreign (International law), Transparency in government | ||||
Official Date: | 31 January 2019 | ||||
Dates: |
|
||||
Institution: | University of Warwick | ||||
Theses Department: | School of Law | ||||
Thesis Type: | PhD | ||||
Publication Status: | Unpublished | ||||
Supervisor(s)/Advisor: | Wagner, Markus | ||||
Format of File: | |||||
Extent: | 258 leaves : illustration | ||||
Language: | eng |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |
Downloads
Downloads per month over past year