SUBSTANTIVE LAW IN INVESTMENT TREATY ARBITRATIONPDF电子书下载

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Chapter 1 Attribution under the Law of State Responsibility 1

1.Introduction 1

2.Investment Treaty Provisions on Attribution： Lex Specialis and the Role of Municipal Law 4

2.1.United Parcel Service of America v. Canada 4

2.2.Metalclad Corporation v. United Mexican States 6

3.ILC Article 4 and the Meaning of ‘State Organ’ 7

3.1.The TLC’s Articles on State Responsibility 8

3.2.The Genocide Case， De Facto State Organ and the Role of Municipal Law 12

3.3.Investment Treaty Awards 14

3.3.1.Eureko v.Poland 14

3.3.2.Salini Costruttori S.p.A.and Italstrade v.Morocco 16

3.3.3.Noble Ventures v.Romania 17

4.Para-statal Entities and the Role of Municipal Law 19

4.1.Maffezini v.Spain 21

4.2.Encana Corporation v.Ecuador 23

5.Conclusions 24

5.1.State Organs 24

5.2.Para-Statal Entities 25

Chapter 2 The Notion of ‘Investment’ 27

1.Introduction 27

2.Definition of ‘Investment’ 28

2.1.Early Investment Treaties： Multilateral and Bilateral 29

2.2.The ICSID Convention 31

3.The Role of Municipal Law in the Definition， Registration，Requirements， and Legal Validity of Investments 37

3.1.Definition of an Investment 37

3.1.1.Mihaly International Corporation v.Sri Lanka 37

3.1.2.Fedax v.Venezuela 39

3.1.3.Salini Costruttori S.p.A.and Italstrade v.Morocco 41

3.1.4.Mitchell v.Congo 42

3.2.Registration Requirements 44

3.3.Legal Validity of Investment 46

4.Conclusion 49

Chapter 3 The Nationality of an Investor 51

1.Introduction 51

2.Investor Nationality and the Role of Municipal Law 52

2.1.Investment Treaty Background 52

2.2.Nationality and Diplomatic Protection 54

2.3.Arbitral Decisions on Investor Nationality 56

2.3.1.Tokios Tokeles v.Ukraine 57

2.3.2.Plama Consortium v.Bulgaria 59

2.3.3.Ceskoslovenska Obchodni Banka A.S.v. The Slovak Republic 61

2.3.4.Soufraki v.United Arab Emirates 62

3.Conclusion 64

Chapter 4 The Concept of Property 65

1.Introduction 65

2.The Use of the Term ‘Property’ in the Investment Treaty Context 69

3.The Role of International Law in Defining Property 70

3.1.European Convention on Human Rights 70

3.2.Inter-American Convention on Human Rights 73

3.3.The 1959 Abs-Shawcross Draft Convention on Foreign Investments 74

3.4.Harvard Draft Convention on International Responsibility of States for Injuries to Aliens 74

3.5.The OECD Draft Convention on the Protection of Foreign Property 76

4.The Role of Municipal Law in Defining Property 77

4.1.The PCIJ and the ICJ 77

4.2.Investment Treaty Tribunals 79

4.2.1. Intangible Rights 80

4.2.1.1.Pope & Talbot Inc.v.Canada 80

4.2.1.2.Encana Corporation v.Republic of Ecuador 81

4.2.2. Contracts 83

4.2.2.1.In the Matter of Revere Copper and Brass Inc.and Overseas Private Investment Corporation 83

4.2.2.2.Eureko v.Poland 84

4.2.2.3.Waste Management Inc v.Mexico 86

4.2.3. Legitimate Expectations 87

4.2.3.1.Tecnicas Medioambientales Tecmed SA v.Mexico 88

4.2.3.2.Metalclad Corporation v.Mexico 89

4.2.3.3.Biloune and Marine Drive Complex v.Ghana Investment Centre and the Government of Ghana 91

4.2.3.4.Other Investment Treaty Tribunal Decisions and the ECHR 92

5.Conclusion 94

Chapter 5 Shareholders’ Rights 97

1. Introduction 97

2. Shareholders’ Rights Pre-Barcelona Traction 102

2.1.Awards Pre-Barcelona Traction 103

2.1.1.Ruden 103

2.1.2.Delagoa Bay and East African Railway Company 103

2.1.3.El Triunfo 104

2.1.4.Kunhardt & Co. 105

2.1.5.Baesch e Romer v.Venezuela 106

2.1.6. Alsop and Co 106

2.1.7.Shufeldt Claim 107

2.2. Treaties Pre-Barcelona Traction 107

2.2.1.Treaty of Versailles （1919） 108

2.2.2.The Mexican Claims Conventions 108

2.2.3.Treaty of Peace with Italy （1947） 110

2.2.4.The Algiers Declaration 111

3. ICJ Judgments on Shareholders’ Rights 113

3.1. Barcelona Traction， Light and Power Company Limited 113

3.2. Elettronica Sicula S.p.A. 116

3.3. Diallo 118

4. The ILC’s Articles on Diplomatic Protection 120

5. European Court of Human Rights 123

6. Investment Treaty Disputes 126

6.1. ICSID 127

6.2. NAFTA 128

6.3. Shareholders’ Indirect Claims in Investment Treaty Disputes 130

6.3.1. Loss of Value of Shares 133

6.3.1.1.CMS Gas Transmission.Company v.Argentina 134

6.3.1.2.Compania de Aguas del Aconquija SA and Vivendi v.Argentina 136

6.3.1.3.Azurix Corp.v.Argentina 138

6.3.1.4.Enron Corp.and Ponderosa Assets L.P.v.Argentina 141

6.3.2. Claims on Behalf of the Company： GAMI v.Mexico 144

7.Conclusion 144

Chapter 6 Contract versus Treaty Claims 151

1. Introduction 151

2.History of the Distinction between Treaty Claims and Contract Claims 154

2.1.Draft Conventions or Codifications 154

2.1.1.Garcia Amador Reports on State Responsibility 154

2.1.2.Harvard Draft Convention on International Responsibility of States for Injuries to Aliens （1961） 155

2.1.3.Foreign Relations Law of the United States （Restatement of the Law 3rd） 155

2.2.Awards and Judgments 157

2.2.1. Affaire Martini 157

2.2.2.Illinois Central Railroad Company （USA） v. United Mexican States 158

2.2.3.International Fisheries Company （USA） v.United Mexican States 159

2.2.4.The PCIJ and the ICJ 159

2.3.Principles to Be Drawn from Draft Conventions/Codifications and Precedents 161

3.Distinction between Treaty and Contract Claims in International Investment Disputes 165

3.1.Aguas del Aconquija - Vivendi 165

3.2.Noble Ventures v.Romania 168

3.3.Waste Management Inc v.Mexico 169

4.Conclusion 170

Chapter 7 Umbrella Clauses： When a Breach of Contract May Become a Breach of Treaty 173

1.Introduction 173

2.The Historical Background 175

2.1. Premise： Abs-Shawcross Draft Convention 1959， First BIT， OECD Draft Convention， and 1998 Draft MAI 176

2.2. Outcome： Umbrella Clauses and Draft Conventions 178

3.Four Schools of Thought 180

3.1. The ‘Negative’ Interpretation： Societe Generale du Surveillance SA v.Pakistan 180

3.2. The ‘Automatic’ Interpretation： Fedax N.V. v.Venezuela； CMS Gas Transmission Company v.Argentina； LG&E Energy Corp.LG&E Capital Corp.and LG&E International Inc.v.Argentina 181

3.3. The ‘lure Imperii’ Interpretation： Pan American Energy LLC and BP Argentina Exploration Company v.Argentina； El Paso Energy International Company v.Argentina 183

3.4. The ‘Enforcement’ Approach： Societe Generale Du Surveillance SA v.Philippines 184

4. Umbrella Clauses： Attribution and Parties to the Undertaking 185

5. Assessment of the Four Schools of Thought 188

6. Conclusion： The Relevance of Municipal Law for Tribunals Interpreting Umbrella Clauses 193

Conclusion The Unsettled Relationship between International and Municipal Law 195

1. Choosing between Texaco and Barcelona Traction in the Investment Treaty Context 196

2. ECHR Jurisprudence and the Renvoi 197

3. Renvoi and the Role of International Law in the Investment Treaty Context 198

4.The Three Categories of Renvoi 202

5.The Need for Arbitrators to Apply Municipal Law 206

Appendix 1 Hermann Abs and Lord Shawcross， Draft Convention on Investments Abroad （1959） 209

Appendix 2 Treaty between the Federal Republic of Germany and Pakistan for the Promotion and Protection of Investments （1959） 213

Appendix 3 Harvard Draft Convention on the International Responsibility of States for Injuries to Aliens （1961） 227

Appendix 4 Organisation for Economic Co-operation and Development Draft Convention on the Protection of Foreign Property （1967） 233

Index 261

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