The Concept of Investment in ICSID Arbitration

This book explores the meaning of investment within the context of International Centre for Settlement of Investment Disputes (ICSID) arbitration, examining the jurisdictional requirement of the existence of an investment and the different approaches taken by arbitral practice. It also provides an overview of definitions found in investment treaties and domestic investment laws, and examines the investment status of specific categories of assets and operations.

Format: Hardback
Length: 224 pages
Publication date: 22 December 2023
Publisher: Oxford University Press

This book delves into the intricate realm of investment within the framework of International Centre for Settlement of Investment Disputes (ICSID) arbitration. It provides a comprehensive and detailed exploration of the diverse legal issues that arise concerning the jurisdictional requirement of the existence of an investment. Firstly, it examines the fundamental question of whether the term "investment" in Art. 25 ICSID Convention possesses an objective or independent meaning, despite not being explicitly defined. Secondly, it delves into the substance of this meaning, revealing that three primary approaches—the prevailing Salini test, the permissibility test, and the commercial-transaction test—coexist in arbitral practice. Thirdly, it analyzes the definitions of "investment" found in investment treaties, encompassing the traditional definitional model, common requirements, and recent developments in practice. Fourthly, it provides an overview of the definitions contained in domestic investment laws, highlighting both similarities and differences with those found in investment treaties. Lastly, it examines the investment status of various specific categories of assets and operations.

The Concept of Investment in ICSID Arbitration serves as a valuable resource for scholars, practitioners, and policymakers alike. It offers not only a thorough analysis of the relevant case law, legislation, and scholarship but also a critical assessment of existing practices and trends. Moreover, the book explores issues that have been overlooked in the existing literature, such as the nature of investment, recent developments in treaty drafting and arbitral case law, and the definitions of "investment" contained in investment laws.

While this book primarily focuses on ICSID arbitration, its insights are also relevant for other forms of investor-state arbitra. The principles and frameworks established within the ICSID framework can be applied to other investment disputes, providing a framework for resolving disputes between investors and states in a fair and efficient manner.

In conclusion, The Concept of Investment in ICSID Arbitration is a indispensable tool for anyone seeking to understand the complex world of investment in international arbitration. It provides a comprehensive and insightful examination of the legal issues surrounding investment, offering valuable insights and recommendations for scholars, practitioners, and policymakers alike.

Weight: 538g
Dimension: 253 x 176 x 17 (mm)
ISBN-13: 9780198877608