Introduction

Of all subjects concerning the international law on foreign investment the law on damages has so far received the least theoretic attention despite its enormous practical importance as the primary remedy sought by investors in investor-State dispute settlement. The main reason for this is the widespread perception that the assessment of damages is driven less by principled legal considerations than by the discretion judges and arbitrators exercise in view of the specific facts of each case. Symptomatic for this perception is the observation of the Tribunal in the recent ICSID ...