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Damages in Investor-State Arbitration
Current Issues and Challenges
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Damages in Investor-State Arbitration: Current Issues and Challenges addresses specificities of the assessment of damages in investor-state disputes, reflecting the tensions between the sovereignty and self-determination of states and their legal obligations towards foreign investors. These tensions are primarily present in the context of compensation for expropriation, but other commitments of host states undertaken in bilateral investment treaties and contracts with foreign investors may also be in conflict with changing political and economic circumstances. With this background, the calculation of damages becomes a complex endeavor in each case. The lack of valuation principles that are uniformly accepted and implemented leads to uncertainty and unpredictability in practice. The present analysis tries to identify the most important issues and challenges, such as the choice of the valuation date, appropriate valuation methods, moral damages, and the awarding of interest.
Irmgard Marboe, Dr., University of Vienna, is Professor of International Law at that university. She has written extensively on the issue of compensation and damages in international arbitration, including one of the leading treatises,
Calculation of Compensation and Damages in International Investment Law (OUP 2009, 2nd ed. 2017).
Damages in Investor-State Arbitration: Current Issues and Challenges
Irmgard Marboe
Abstract
Keywords
I Introduction
II Special Features of Investment Arbitration in the Area of Damages
III Challenges Regarding the Applicable Law
IV Standards in Expropriation and in Non-expropriation Cases
V Difference between ‘Lawful’ and ‘Unlawful’ Expropriations
VI Causation
VII Importance of the Valuation Date
VIII The Application of Valuation Methods
IX Opinions on Country Risk
X Other Possible Limitations on Damages
XI Thresholds for Moral Damages
XII Interest
XIII Conclusion
References
Irmgard Marboe
Abstract
Keywords
I Introduction
II Special Features of Investment Arbitration in the Area of Damages
III Challenges Regarding the Applicable Law
IV Standards in Expropriation and in Non-expropriation Cases
V Difference between ‘Lawful’ and ‘Unlawful’ Expropriations
VI Causation
VII Importance of the Valuation Date
VIII The Application of Valuation Methods
IX Opinions on Country Risk
X Other Possible Limitations on Damages
XI Thresholds for Moral Damages
XII Interest
XIII Conclusion
References
Academics and practitioners interested in the area of international investment law and arbitration.