Recent Developments in Investment Arbitration - UNCTAD'S New IIA Issues Note
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From: CUTS International
Recent Developments in Investment Arbitration - UNCTAD'S New IIA Issues Note
UNCTAD's new IIA Issues Note is out. Among others, the major highlights include:-
· In 2012, 62 new cases were initiated, which constitutes the highest number of known treaty-based disputes ever filed in one year and confirms that foreign investors are increasingly resorting to investor-State arbitration.
· In 68% of the new cases, respondents are developing or transition economies. While the number of cases initiated by developing country investors has increased, the majority of new cases (63%) still originate from developed countries.
· Claimants have challenged a broad range of government measures, including those related to revocations of licences, breaches of investment contracts, irregularities in public tenders, changes to domestic regulatory frameworks, withdrawal of previously granted subsidies, direct expropriations of investments, tax measures and others.
· At least 42 arbitral decisions were issued in 2012, including decisions on objections to tribunal’s jurisdiction, merits of the dispute, compensation and applications for annulment of an arbitral award. 31 of these decisions are in the public domain.
To read the complete note, please visit: http://unctad.org/en/PublicationsLibrary/webdiaepcb2013d3_en.pdf
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