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  • 5 1 International Investment Agreements

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    abduhalim
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    BITs often prohibit the taking of a foreign investment by a public authority except: 1. For a public purpose, 2. On a non-discriminatory basis, and 3. Against compensation. 'Creeping' expropriation - acts that lead to the loss of management, use or control, or a significant depreciation in the value, of assets. BITs also prohibit the encroachment on one or more ownership rights of foreign Investors that diminishes the value of

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    BITs often prohibit the taking of a foreign investment by a public authority except: 1. For a public purpose, 2. On a non-discriminatory basis, and 3. Against compensation. 'Creeping' expropriation - acts that lead to the loss of management, use or control, or a significant depreciation in the value, of assets. BITs also prohibit the encroachment on one or more ownership rights of foreign Investors that diminishes the value of

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    35 просмотров12 страниц

    5 1 International Investment Agreements

    Загружено:

    abduhalim
    BITs often prohibit the taking of a foreign investment by a public authority except: 1. For a public purpose, 2. On a non-discriminatory basis, and 3. Against compensation. 'Creeping' expropriation - acts that lead to the loss of management, use or control, or a significant depreciation in the value, of assets. BITs also prohibit the encroachment on one or more ownership rights of foreign Investors that diminishes the value of

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 12

    InternationalInvestmentAgreements

    Whatarethey? MultilateralAgreements BilateralInvestmentTreaties(BITs) FreeTradeAgreements(FTAs) NationalInvestmentCodes/Legislations?

    InternationalInvestmentAgreements
    SettlingInvestmentDisputes Investorv.StateDisputes TheRoleofDomesticCourts ArbitrationInstitutionsandRegimes

    InternationalInvestmentAgreements
    TheSubjectMatteroftheDispute(Jurisdiction Ratione Materiae):TheDirectnessoftheDisputein RelationtotheInvestment ThePartiestotheDispute(JurisdictionRatione Personae):TheHostStateandtheInvestor ConsenttoArbitration
    1. 2. 3. TheScopeoftheConsent ProceduralConditionstoConsent TheQuestionoftheApplicabilityofMFNClausesto DisputeSettlement

    TheApplicableLawinanInvestmentDispute EffectsofanArbitralAward

    InternationalInvestmentLaw AndrewMitchell&TaniaVoon

    InvestmentTreatmentObligations
    AbsoluteProtections(non contingentobligations) RelativeProtections (contingentobligations)

    Fair&Equitable Treatment Fullprotection& security Compensationfor Expropriation

    National Treatment(NT) MostFavoured NationTreatment (MFN)

    Expropriation
    BITsoftenprohibitthetakingofaforeigninvestmentbya publicauthorityexcept: 1. forapublicpurpose, 2. onanondiscriminatorybasis,and 3. againstcompensation.
    ARTICLE6(HongKongAustraliaBIT) Expropriation 1.InvestorsofeitherContractingPartyshallnotbedeprivedoftheir investmentsnorsubjectedtomeasureshavingeffectequivalenttosuch deprivationintheareaoftheotherContractingPartyexceptunderdue processoflaw,forapublicpurposerelatedtotheinternalneedsofthatParty, onanondiscriminatorybasis,andagainstcompensation.

    Expropriation
    Direct/IndirectExpropriation
    Direct actsthattransfertitleandphysicalpossession Indirect actsthatleadtothelossofmanagement, useorcontrol,orasignificantdepreciationinthe value,ofassets

    CreepingExpropriation
    the slowandincrementalencroachmentononeor moreownershiprightsofaforeigninvestorthat diminishesthevalueofitsinvestment.

    RegulatoryTakings

    Expropriation
    Arbitraltribunalshavefoundanumberofdifferentfactors relevantindistinguishingnoncompensableregulationby theStatefromcompensableexpropriation. Relevantconsiderations:
    whetherthegovernmenthasacquiredtheinvestorsproperty rights; whethertheinterferencewiththoserightsisproportionatetoa publicinterestobjective; thedegreeanddurationof theinterference; whetherthemeasureentailsanexerciseoftheStatessovereign policepowers; andthelegitimateexpectationsofinvestors.

    FairandEquitableTreatment
    ArbitraldecisionsconcerningtheFETstandard haveassessedgovernmentconductaccording toprinciplesofreasonableness,consistency, nondiscrimination,transparency,anddue process.

    FairandEquitableTreatment
    PursuanttoArticle2(2)oftheHongKong AustraliaBIT,[i]nvestments andreturnsof investorsofeachContractingPartyshallatall timesbeaccordedfairandequitable treatmentintheareaoftheother ContractingParty.

    FairandEquitableTreatment
    Nobreachoflegitimateexpectations:
    Australiaslegitimateregulatoryinterests. Rationalrelationshipbetweenhealthobjectives andplainpackagingmeasure. PMAcannothavereasonableexpectedregulatory environmentwouldremainfrozen. Nospecificassurancesmade. TimeofPMAsinvestment.

    FullProtection&Security
    Traditionally,safeguardsforeigninvestors againstphysicalharm.
    Appliedincaseswhereinvestorsphysicalassets havebeendamagedby3rd partiesasaresultof thehoststatesfailuretopreventsuchdamageor wherethehoststatehasfailedtopunishthe perpetrators.

    Sometribunalshaveextendedthescopeof thisstandardandappliedittounjustifiedlegal oradministrativeactions.

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