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Semester 1

International Investment Law (Honours) (LAWS10199)







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**This course is only open to visiting students coming through a direct exchange with the School of Law (including Erasmus students on a Law-specific Exchange). Exchange students outside of Law and independent study abroad students are not eligible to enrol in this course, with no exceptions.** Please note that 3rd year Law courses are high-demand, meaning that they have a very high number of students wishing to enrol in a very limited number of spaces. These enrolments are managed strictly by the Visiting Student Office, in line with the quotas allocated by the department, and all enquiries to enrol in these courses must be made through the CAHSS Visiting Student Office. It is not appropriate for students to contact the department directly to request additional spaces. If there is sufficient space for other visiting students to enrol at the start of the semester, visiting students must have completed at least 3 Law courses at grade B or above to qualify for this course; we will only consider University/College level courses.

Course Summary

International Investment Law has become a very important area of public international law and extremely popular among young practitioners and academics. As states strive to attract foreign investment as a driver for development, the law of investment protection has evolved through, both: i) the negotiation of some 3000 international investment agreements (IIAs) currently concluded, and ii) the development of its unique dispute settlement mechanism, investor-state dispute settlement (ISDS). However, after a backlash against ISDS and the legitimacy of IIAs, international investment law is currently going through profound changes and reforms. This course provides an introduction and general overview to these two aspects of international investment law. It starts with a general overview of the investment regime and its public and private divide. It then addresses procedural and substantive provisions of IIAs. Students will consider the main standards of protection incorporated in IIAs, most-favoured national treatment, national treatment, fair and equitable treatment, full protection and security and expropriation with compensation. Through the analysis of different IIAs and the reflection on the decisions of arbitral tribunals, students are expected to discuss the adequacy of investment provisions vis a vis states' regulatory freedom. The course ends with a discussion of the legitimacy and efficacy of the investment regime, and an assessment of the reforms proposed.

Course Description

The course progresses in content and complexity as student get acquainted with this area of law. The instructor will provide reading materials for preparation of the class, but as the course develops students will be expected to find additional sources and share them in class. The basic content of the course includes: - Historical introduction to international investment law; - International Investment Agreements (including bilateral investment treaties (BITs), multilateral investment treaties (MITs) and Free Trade Agreements (FTAs)); - Investor-State dispute settlement; - Standards of treatment in international investment law; - Expropriation; - An assessment of the legitimacy and efficacy of the investment protection regime.

Assessment Information

Written Exam 90%, Coursework 10%, Practical Exam 0%

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