Books > Law > International law > Settlement of international disputes > International arbitration
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Investment Treaty Arbitration and Public Law (Hardcover)
Loot Price: R3,043
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Investment Treaty Arbitration and Public Law (Hardcover)
Series: Oxford Monographs in International Law
Expected to ship within 12 - 17 working days
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The recent explosion of investment treaty arbitration marks a major
transformation of both international and public law, above all
because of the manner in which states have delegated core powers of
the courts to private arbitrators. This book outlines investment
treaty arbitration as a public law system and demonstrates how the
system goes beyond all other forms of international adjudication in
giving arbitrators a comprehensive jurisdiction to determine the
legality of sovereign acts and to award public funds to businesses
that sustain loss as a result of government regulation. The
analysis also reveals some startling consequences of transplanting
rules of commercial arbitration into the regulatory sphere. For
instance, the system allows public law to be interpreted by
arbitrators in private as a matter of course, with limited scope
for judicial review. Further, arbitrators can award compensation to
investors in ways that go beyond domestic systems of state
liability, and these awards may then be enforced in as many as 165
countries, making them more widely enforceable than any other
adjudicative decision in public law. The system's mixture of
private arbitration and public law undermines accountability and
openness in judicial decision-making. But, most importantly, it
poses a unique and fundamental challenge - hitherto neglected by
other commentators - to the principle of judicial independence. To
address this, this book argues that the system be replaced with an
international investment court, properly constituted according to
public law principles, and made up of tenured judges.
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