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"Investor-state arbitration is a relatively new dispute settlement mechanism that allows foreign investors the opportunity to seek redress for damages arising out of breaches of investment-related treaty obligations by the governments of host countries. Claims are submitted to independent, international arbitration tribunals, which are called upon to interpret the treaty at hand. Because of the public interest involved in these cases, the awards of these tribunals are subject to much scrutiny and debate. Thus, it has already generated hundreds of cases and created new legal disciplines, inspiring a continuous string of legal writings. This book describes the process of investor-state arbitration in all of its phases, and provides the reader with comprehensive insight into investor-state arbitration. It includes contributions from many of the leading experts in the field, from private practitioners and academics to government and NGO officials. In this way, this book differs from other books on this topic because it includes contributions from all actors involved, providing more credibility in an area in which one of the main criticisms is bias against governments. This book provides pragmatic and reliable analysis of all aspects of this evolving topic."

"[ABSTRAKTesis ini mengkaji putusan ICSID dalam sengketa antara Rafat Ali Rizvi melawan Republik Indonesia yang diputus berdasarkan Bilateral Investment Treaty (?BIT?) antara negara Indonesia dan negara Inggris, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, yang ditandatangani pada tanggal 27 April 1976 dan mulai berlaku tanggal 24 Maret 1977. Permasalahan utama yang menjadi fokus penelitian ini adalah (i) apakah yang menjadi pokok sengketa antara Rafat Ali Rizvi melawan Republik Indonesia dan (ii) bagaimana pendapat majelis arbitrase ICSID yang memeriksa dan mengadili perkara tersebut dikaitkan dengan penafsiran atas ketentuan BIT dalam sengketa penanaman modal. Metode yang digunakan dalam penelitian ini adalah metode penelitian hukum normatif. Hasil penelitian menunjukkan bahwa pokok sengketa yang terjadi adalah masalah proses dan prosedur masuknya penanaman modal asing (admission process) yang harus dilalui investor berdasarkan BIT. Proses tersebut menentukan legalitas penanaman modal yang dilakukan. Tidak terpenuhinya admission process tersebut menjadikan Majelis Arbitrase ICSID tidak memiliki yurisdiksi untuk memeriksa dan mengadili sengketa tersebut sehingga pokok perkara tidak dapat diperiksa. Penafsiran atas ketentuan-ketentuan dalam BIT utamanya menggunakan Pasal 31 ayat (1) Konvensi Wina 1969 tentang Hukum Perjanjian, khususnya penafsiran berdasarkan makna biasa dari rumusan ketentuan BIT. Kajian tesis ini menyimpulkan bahwa penanaman modal yang dilakukan Penggugat tidak memenuhi ketentuan Pasal 2 ayat (1) BIT mengenai admission process sehingga Majelis Arbitrase menyatakan tidak memiliki yurisdiksi untuk memeriksa perkara tersebut. Majelis Arbitrase menafsirkan frasa ?granted admission in accordance with? dalam ketentuan Pasal 2 ayat (1) BIT antara Indonesia dan Inggris berdasarkan Konvensi Wina 1969 tentang hukum perjanjian khususnya Pasal 31 ayat (1). Penggunaan aturan penafsiran tersebut juga ditemukan dalam putusan-putusan ICSID lainnya yang menafsrikan ketentuan BIT yang serupa dengan ketentuan BIT antara Indonesia dan Inggris.

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ABSTRACTThis thesis analyzes the decision of ICSID tribunal in the case between Rafat Ali Rizvi v. Republic of Indonesia based on Bilateral Investment Treaty (?BIT?) between Indonesia and United Kingdom, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, signed on 27 April 1976 and entered into force on 24 March 1977. The research questions of this thesis are (i) what is the subject matter of the case between Rafat Ali Rizvi v. Republic of Indonesia; (ii) how is the opinion of the Tribunal in examining and adjudicating the case related to the interpretation of BIT provisions in investment disputes. The method used in analyzing the problems is normative legal research method. Research result shows that the subject matter of the case is the admission process of foreign investment. There is admission process that should be followed based on BIT in that process which determines the legality of the investment. This legality requirement is related to ICSID jurisdiction. If these processes are unfulfilled, the ICSID tribunal will not have jurisdiction on the case. Thus, the merit of the case will not be examined. The rule of interpretation used is mainly the provision of Article 31 (1) of the 1969 Vienna Covention on the Law of Treaty especially interpretation based on the ordinary meaning of the BIT provision. This study concludes that the Claimant?s investment does not fulfil the provision of Article 2 (1) of BIT between Indonesia and United Kingdom concerning the admission process that the Tribunal does not have jurisdiction on the case. The Tribunal inbterprets the phrase ?granted admission in accordance with? in the provision of Article 2 (1) of the BIT based on the 1969 Vienna Convension on the Law of Treaty especially Article 31 (1) concerning interpretation based on the ordinary meaning of the BIT provision. The use of this rule of interpretation is also found in other ICSID decisions which interpret similar phrase of BIT as that in the BIT between Indonesia and United Kingdom.;This thesis analyzes the decision of ICSID tribunal in the case between Rafat Ali Rizvi v. Republic of Indonesia based on Bilateral Investment Treaty (?BIT?) between Indonesia and United Kingdom, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, signed on 27 April 1976 and entered into force on 24 March 1977. The research questions of this thesis are (i) what is the subject matter of the case between Rafat Ali Rizvi v. Republic of Indonesia; (ii) how is the opinion of the Tribunal in examining and adjudicating the case related to the interpretation of BIT provisions in investment disputes. The method used in analyzing the problems is normative legal research method. Research result shows that the subject matter of the case is the admission process of foreign investment. There is admission process that should be followed based on BIT in that process which determines the legality of the investment. This legality requirement is related to ICSID jurisdiction. If these processes are unfulfilled, the ICSID tribunal will not have jurisdiction on the case. Thus, the merit of the case will not be examined. The rule of interpretation used is mainly the provision of Article 31 (1) of the 1969 Vienna Covention on the Law of Treaty especially interpretation based on the ordinary meaning of the BIT provision. This study concludes that the Claimant?s investment does not fulfil the provision of Article 2 (1) of BIT between Indonesia and United Kingdom concerning the admission process that the Tribunal does not have jurisdiction on the case. The Tribunal inbterprets the phrase ?granted admission in accordance with? in the provision of Article 2 (1) of the BIT based on the 1969 Vienna Convension on the Law of Treaty especially Article 31 (1) concerning interpretation based on the ordinary meaning of the BIT provision. The use of this rule of interpretation is also found in other ICSID decisions which interpret similar phrase of BIT as that in the BIT between Indonesia and United Kingdom.;This thesis analyzes the decision of ICSID tribunal in the case between Rafat Ali Rizvi v. Republic of Indonesia based on Bilateral Investment Treaty (?BIT?) between Indonesia and United Kingdom, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, signed on 27 April 1976 and entered into force on 24 March 1977. The research questions of this thesis are (i) what is the subject matter of the case between Rafat Ali Rizvi v. Republic of Indonesia; (ii) how is the opinion of the Tribunal in examining and adjudicating the case related to the interpretation of BIT provisions in investment disputes. The method used in analyzing the problems is normative legal research method. Research result shows that the subject matter of the case is the admission process of foreign investment. There is admission process that should be followed based on BIT in that process which determines the legality of the investment. This legality requirement is related to ICSID jurisdiction. If these processes are unfulfilled, the ICSID tribunal will not have jurisdiction on the case. Thus, the merit of the case will not be examined. The rule of interpretation used is mainly the provision of Article 31 (1) of the 1969 Vienna Covention on the Law of Treaty especially interpretation based on the ordinary meaning of the BIT provision. This study concludes that the Claimant?s investment does not fulfil the provision of Article 2 (1) of BIT between Indonesia and United Kingdom concerning the admission process that the Tribunal does not have jurisdiction on the case. The Tribunal inbterprets the phrase ?granted admission in accordance with? in the provision of Article 2 (1) of the BIT based on the 1969 Vienna Convension on the Law of Treaty especially Article 31 (1) concerning interpretation based on the ordinary meaning of the BIT provision. The use of this rule of interpretation is also found in other ICSID decisions which interpret similar phrase of BIT as that in the BIT between Indonesia and United Kingdom.;This thesis analyzes the decision of ICSID tribunal in the case between Rafat Ali Rizvi v. Republic of Indonesia based on Bilateral Investment Treaty (?BIT?) between Indonesia and United Kingdom, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, signed on 27 April 1976 and entered into force on 24 March 1977. The research questions of this thesis are (i) what is the subject matter of the case between Rafat Ali Rizvi v. Republic of Indonesia; (ii) how is the opinion of the Tribunal in examining and adjudicating the case related to the interpretation of BIT provisions in investment disputes. The method used in analyzing the problems is normative legal research method. Research result shows that the subject matter of the case is the admission process of foreign investment. There is admission process that should be followed based on BIT in that process which determines the legality of the investment. This legality requirement is related to ICSID jurisdiction. If these processes are unfulfilled, the ICSID tribunal will not have jurisdiction on the case. Thus, the merit of the case will not be examined. The rule of interpretation used is mainly the provision of Article 31 (1) of the 1969 Vienna Covention on the Law of Treaty especially interpretation based on the ordinary meaning of the BIT provision. This study concludes that the Claimant?s investment does not fulfil the provision of Article 2 (1) of BIT between Indonesia and United Kingdom concerning the admission process that the Tribunal does not have jurisdiction on the case. The Tribunal inbterprets the phrase ?granted admission in accordance with? in the provision of Article 2 (1) of the BIT based on the 1969 Vienna Convension on the Law of Treaty especially Article 31 (1) concerning interpretation based on the ordinary meaning of the BIT provision. The use of this rule of interpretation is also found in other ICSID decisions which interpret similar phrase of BIT as that in the BIT between Indonesia and United Kingdom., This thesis analyzes the decision of ICSID tribunal in the case between Rafat Ali Rizvi v. Republic of Indonesia based on Bilateral Investment Treaty (“BIT”) between Indonesia and United Kingdom, Agreement between the Government of United Kingdom and Northern Ireland and the Government of the Republic of Indonesia for the Promotion and Protection of Investments, signed on 27 April 1976 and entered into force on 24 March 1977. The research questions of this thesis are (i) what is the subject matter of the case between Rafat Ali Rizvi v. Republic of Indonesia; (ii) how is the opinion of the Tribunal in examining and adjudicating the case related to the interpretation of BIT provisions in investment disputes. The method used in analyzing the problems is normative legal research method. Research result shows that the subject matter of the case is the admission process of foreign investment. There is admission process that should be followed based on BIT in that process which determines the legality of the investment. This legality requirement is related to ICSID jurisdiction. If these processes are unfulfilled, the ICSID tribunal will not have jurisdiction on the case. Thus, the merit of the case will not be examined. The rule of interpretation used is mainly the provision of Article 31 (1) of the 1969 Vienna Covention on the Law of Treaty especially interpretation based on the ordinary meaning of the BIT provision. This study concludes that the Claimant’s investment does not fulfil the provision of Article 2 (1) of BIT between Indonesia and United Kingdom concerning the admission process that the Tribunal does not have jurisdiction on the case. The Tribunal inbterprets the phrase “granted admission in accordance with” in the provision of Article 2 (1) of the BIT based on the 1969 Vienna Convension on the Law of Treaty especially Article 31 (1) concerning interpretation based on the ordinary meaning of the BIT provision. The use of this rule of interpretation is also found in other ICSID decisions which interpret similar phrase of BIT as that in the BIT between Indonesia and United Kingdom.]"

"Attempts at developing a theory of international investment law are complicated by the fact that this field of international law is based on numerous, largely bilateral treaties and is implemented by arbitral panels established on a case-by-case basis. This suggests a fragmented and chaotic state of the law, with different levels of protection depending on the sources and targets of foreign investment flows. This book, however, forwards the thesis that international investment law develops, despite its bilateral form, into a multilateral system of law that backs up the functioning of a global market economy based on converging principles of investment protection. In discussing the function of most-favored-nation clauses, the possibilities of treaty-shopping and the impact of investor-State arbitration with its intensive reliance on precedent and other genuinely multilateral approaches to treaty interpretation, it offers a conceptual framework for understanding the nature and functioning of international investment law as a genuinely multilateral system."

"The Oxford Handbook of International Investment Law aims to provide the first truly exhaustive account of the current state and future development of this important and topical field of international law. The Handbook is divided into three main parts. Part One deals with fundamental conceptual issues, Part Two deals with the main substantive areas of law, and Part Three deals with the major procedural issues arising out of the settlement of international investment disputes. The book has a policy-oriented introduction, setting the more technical chapters that follow in their policy environment within which contemporary norms for international foreign investment law are evolving. The Handbook concludes with a chapter written by the editors to highlight the major conclusions of the collection, to identify trends in the existing law, and to look forward to the future development of this field."

"Twenty-first-century trade agreements increasingly are a source of international law on investment and competition. With chapters contributed by leading practitioners and academics, this volume draws upon investor-state arbitration and competition/​antitrust disputes to focus on the application of economics to international trade law and specifically WTO law. Written in an accessible language suitable for a broad readership while providing concrete insights designed for the specialist, this book will be of use to those active or interested in the related fields of trade disputes, competition law, and investor-state arbitration"--"Global markets have become increasingly integrated both in terms of the size of trade and investment flows and in terms of the number of players involved. Global trade and investment flows are governed by a set of national, regional and global legal frameworks that interact at different levels. Increasingly the question arises how those frameworks fit together and how they can be made more coherent."

"The Backlash against Investment Arbitration : Perceptions and Reality /​ Michael Waibel ... [et al.]Disregarding the Corporate Veil and Denial of Benefits Clauses : Testing Treaty Language and the Concept of "Investor" /​ Rachel Thorn &​ Jennifer DoucleffPrivate Enforcement of International Investment Law : Why We Need Investor Standing in BIT Dispute Settlement /​ Stephan W. SchillDrawing the Limits of Free Transfer Provisions /​ Alejandro Turyn &​ Facundo Perez AznarA Comparison of ICSID and UNCITRAL Arbitration : Areas of Divergence and Concern /​ Stephen Jagusch &​ Jeffrey SullivanThe Issues Raised by Parallel Proceedings and Possible Solutions /​ August ReinischParallel Proceedings : A Practitioner's Perspective /​ Richard KreindlerAnnulment and its Role in the Context of Conflicting Awards /​ Christina KnahrCompensation for Non-expropriatory Investment Treaty Breaches in the Argentine Gas Sector Cases : Issues and Implications /​ Kathryn KhamsiArbitrator Integrity /​ William ParkAmicus Curiae : A Panacea for Legitimacy in Investment Arbitration? /​ Nigel Blackaby &​ Caroline RichardParticipation of Non-governmental Organizations in Investment Arbitration as Amici Curiae /​ Amokura KawahruLegality of Investments under ICSID Jurisprudence /​ Gabriel BottiniInvoking State Defenses in Investment Treaty Arbitration /​ A MartinezBacklash to Investment Arbitration : Three Causes /​ Louis T. Wells"