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Damages in Investor-State Arbitration

Current Issues and Challenges

Series:

Irmgard Marboe

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.

Emmanuel Gaillard

Review excerpts from the book on Scribd

International arbitration readily lends itself to a legal theory analysis. The fundamentally philosophical notions of autonomy and freedom are at the heart of its field of study. Similarly essential are the questions of legitimacy raised by the parties’ freedom to favor a private form of dispute resolution over national courts, to choose their judges, to tailor the procedure and to choose the applicable rules of law, and by the arbitrators’ freedom to determine their own jurisdiction, to shape the conduct of the proceedings and to choose the rules applicable to the dispute.

The present work, based on a Course given at The Hague Academy of International Law in the Summer 2007, identifies the philosophical postulates that underlie this field of study and shows their profound coherence and the practical consequences that follow from these postulates in the resolution of international disputes.

Shared Watercourses and Water Security in South Asia

Challenges of Negotiating and Enforcing Treaties

Series:

Salman M.A. Salman and Kishor Uprety

Shared water resources in South Asia face various challenges including scarcity, population growth, and climate change impacts on all the riparians. Consequently, national calls for water security have become louder. As a result, collaboration among the nations of South Asia for ensuring equitable sharing of such water resources has not been optimal. While most countries do not have reliable systems for data generation, those possessing some hydrological data consider them state secrets, restricting their exchange. Even when treaty obligations exist, data-sharing practices are ad hoc, and the range of information shared is limited. Thus, negotiating new transboundary water treaties amongst South Asia’s riparian countries has become a daunting task, and enforcing existing ones remains a real challenge.