Introduction

The assessment of damages in international investment disputes has always been a controversial topic. The first major attempt to codify the rules related to awarding damages failed in 1930, mainly because the participants could not reach consensus as to certain provisions, which limited the measure of damages.[1] In 2001, the United Nations International Law Commission, after decades of working on the subject, finally adopted the Draft Articles on the Responsibility of States for Internationally Wrongful Acts (ARSIWA).[2] While ARSIWA contains provisions dealing with awarding ...