New Directions in International Economic Law

In Memoriam Thomas Wälde

Editors: and
This volume is dedicated to the life and work of Prof. Thomas Wälde (†2008), a leading scholar and international lawyer. Contributions reflect the eclectic and multifaceted career of Prof. Wälde, who was an authority on diverse areas such as natural resources law, international dispute settlement, international investment law and economic development. The authors are all leaders in their respective fields of international law, providing timely, critical assessments on the most challenging topics facing the international community. While the thrust of this volume is on international investment law and dispute settlement, contributors also address a wide array of related issues, including lex mercatoria, human rights, corporate social responsibility, and natural resources law. It will appeal to practitioners and academics alike.

All royalties from sales of this volume assist in sustaining the Thomas Wälde PhD Scholarship in International Economic Law, at the Centre for Energy, Mineral and Petroleum Law and Policy in Dundee, Scotland.

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Pages: 303–308
Appendix A. Part I
Pages: 481–494
Appendix A. Part II
Pages: 495–512
Appendix B
Pages: 513–525
Appendix C
Pages: 526–541
Appendix D
Pages: 542–556
Appendix E
Pages: 557–573
Appendix F
Pages: 574–575
Pages: 577–591
Dr. Todd Weiler is an independent counsel and arbitrator. Credited for his creative and engaging style, he is widely recognised as an authority on international investment law and arbitration.

Dr. Freya Baetens is assistant professor of public international law at Leiden University, executive council member of the Society of International Economic Law, fellow of the Centre for International Sustainable Development Law, and consultant in investment arbitration.
Part One: Where Public Meets Private
Introduction, Emmanuel Gaillard

Human Rights & Investment Tribunals Jurisprudence Along the Private/Public Divide, Moshe Hirsch
Public or Private Dispute Settlement? The Culture Clash in Investment Treaty Arbitration and its Impact on the Role of the Arbitrator, Stephan Schill
The Transnational Law of Contracts: What It Can and What It Cannot Achieve, Giuditta Cordero Moss
Codification of the New Lex Mercatoria through the Internet: The TransLex Principles at, Klaus Peter Berger
Thinking About BITs and BIT Arbitration: The Legitimacy Crisis That Never Was, Devashish Krishan

Part Two: Field-Specific Applications
Introduction, Detlev F. Vagts
Arbitration to Settle Private War-Damage Claims? The Eritrea-Ethiopia Claims Commission Revisited, Hans Van Houtte
Foreign direct investment for development: the United Nations Code of Conduct and the search for balance in international investment rules, Karl Sauvant
Negotiated Settlement of Public Infrastructure Disputes, Mark Kantor
International Corporate Social Responsibility and International Law , Peter Muchlinski
The Legal Landscape of International Energy Investment After the 2008 Global Financial Crisis, Robert Pritchard
Investor-State Mediation: Reflections on its Feasibility from a Process Perspective, Ximena Bustamante

Part Three: International Economic Law In A Wider Context
Introduction, Daniel Vock
International Investment Law Regime and the Rule of Law as a Precondition for International Development, Nicholas J. Birch, Ian Laird, Borzu Sabahi
An Historical Analysis of the Function of the Minimum Standard of Treatment in International Investment Law, Todd Weiler
States, Sanctions and Soft Law: An Analysis of Differing Approaches to Business and Human Rights Frameworks, Stephane Brabant, Anna Kirk, Jonathan Proust
Positivism, New Haven Jurisprudence, and the Fragmentation of International Law, Tai-Heng Cheng
Beyond Fragmentation, Andrea Bjorklund, Sophie Nappert

Part Four Appendices: Transcripts Memorial Symposium for Professor Thomas Wälde

Appendix A: Part 1
Roundtable on Cross-Cutting Issues on Energy & Natural Resources and Development
Co-Moderated by Arif Ali and Timothy McCrum
Contributors: William Fox, Elizabeth Bastida, Ibibia Worika, Christian Pielow, Andrey Konoplyanik, Borzu Sabahi, Graham Coop

Appendix A: Part 2
Roundtable on Cross-Cutting Issues on Energy & Natural Resources and Development, Continued
Co-Moderated by Arif Ali and Timothy McCrum
Contributors: William Fox, Elizabeth Bastida, Ibibia Worika, Christian Pielow, Andrey Konoplyanik, Borzu Sabahi, Graham Coop

Appendix B: Special Presentation on Foreign Investment and the Work of The UN's Special Representative on Business & Human Rights
Moderated by Stéphane Brabant
Contributors: Peter Muchlinski, Lorenzo Cotula , Andrea Shemberg

Appendix C: Roundtable: What Does the Future Hold for International Arbitration?
Moderated by Tim Nelson
Contributors: Hew Dundas, Bart Legum, Mark Feldman, Sophie Nappert

Appendix D: Reflections Upon the Idea of International Judicial Review
Moderated by Robert Voltera
Contributors: Stephan Schill, Ian Laird, Todd Weiler, Klaus Reichert

Appendix E: Roundtable on the Question of Convergence in International Law
Moderated by Kaj Hober

Appendix F: Closing Remarks
Philip Andrews-Speed
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