Is the Law of Treaties an Obstacle or a Conduit for the Reform of Investor-State Dispute Settlement?

Authors

Brian McGarry
Josef Ostřanský

Document Type

Essay

Publication Title

Emory Int'l L. Rev. Recent Dev.

Publication Date

Fall 1-1-2017

Abstract

As governments begin to propose and adopt dramatic reforms to investment treaties, it is important that these governments bear in mind the fundamental common element of these treaties'that as agreements between states, they are each governed by the same body of rules as all other treaties. Over time, these treaties began to incorporate investor-state arbitration provisions, which have increasingly received criticism for allowing multinational corporations to sue governments outside of the national judicial system. As a result, there have been calls to amend the most prevalent multilateral investor-state dispute settlement treaty'the 1965 Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention). In doing so, an amendment establishing an appellate mechanism would further the ICSID Convention's aim of establishing a neutral international dispute settlement mechanism, abiding by the 1969 Vienna Convention on the Law of Treaties.

Volume

32

First Page

1001

Recommended Citation

Brian McGarry & Josef Ostřanský, Is the Law of Treaties an Obstacle or a Conduit for the Reform of Investor-State Dispute Settlement?, 32 Emory Int'l L. Rev. Recent Dev. 1001 (2017).
Available at: https://scholarlycommons.law.emory.edu/eilr-recent-developments/5