Damages and other forms of redress are the object of nearly every international investment dispute. Given the financial stakes in these cases, compensation is a key concern for both foreign investors and States. The increasingly large sums awarded and the growing complexity of claims call for a renewed analysis of legal and valuation concepts related to damages. Contemporary and Emerging Issues on the Law of Damages and Valuation in International Investment Arbitration, edited by Christina L. Beharry, examines a broad range of damages topics, building on basic principles and surveying current developments to identify trends in the jurisprudence. A central contribution of this book is its exploration of cutting-edge issues dominating a new generation of investment awards and the interconnectedness of damages with other areas of international investment law. This volume brings together leading practitioners, experts, and academics with extensive experience working on issues related to the law of damages and the quantification of compensation. Readers are provided with a deeper understanding of legal and valuation principles that are often the source of intense debate in international investment cases.
Christina L. Beharry is Counsel in the International Litigation and Arbitration Department of Foley Hoag LLP in Washington, D.C., where she represents clients in international investment disputes and advises them on investment policies and treaties. She was formerly an attorney in the Trade Law Bureau of the Canadian Department of Foreign Affairs and International Trade.
Preface Notes on Contributors
Part 1 Standing, Procedure & Other Preliminary Considerations
1 Procedural Tools to Facilitate the Quantification of Damages in Investor-State Arbitration Adam Douglas
2 Third-Party Financing in Investment Arbitration Victoria Sahani, Mick Smith and Christiane Deniger
3 Reflective Loss and its Limits under International Investment Law Mark A. Clodfelter and Joseph D. Klingler
Part 2 Legal Considerations
4 Causation and Injury in Investor-State Arbitration Patrick W. Pearsall and J. Benton Heath
5 Assessing Compensation and Damages in Expropriation versus Non-expropriation Cases Irmgard Marboe
6 Moral Damages Patrick Dumberry
Part 3 Valuation Considerations
7 Approaches to Valuation in Investment Treaty Arbitration Noah Rubins, Vasuda Sinha and Baxter Roberts
8 Discounted Cash Flow Method Kai F. Schumacher and Henner Klönne
9 Measuring Country Risk in International Arbitration James Searby
10 Valuation Techniques for Early-Stage Businesses in Investor-State Arbitration Garrett Rush, Kiran Sequeira and Matthew Shopp
11 Valuing Natural Resources Investments Richard Caldwell, Darrell Chodorow and Florin Dorobantu
Part 4 Damages from a State Perspective
12 Principles Limiting the Amount of Compensation Borzu Sabahi, Kabir Duggal and Nicholas Birch
13 Counterclaims and State Claims Marc Jacob and Jeremy K. Sharpe
Part 5 Adjustments to Damages and Post-Award Issues
14 Approaches to the Award of Interest Mark Beeley
15 The Allocation of Costs in Investment Treaty Arbitration Matthew Hodgson and Alastair Campbell
16 Post-award Challenges of Damages Assessments Christina L. Beharry
Index
All interested in International Investment Law, International Investment Arbitration Law, Law of Damages, and Law of Valuation.