Summary

The increasing importance of international investment in the quest for sustainable development at the turn of the 21 st century has been accompanied by the rapid development of a novel field of international law, which defines the obligations of host states towards foreign investors and creates procedures for arbitrating disputes arising out of those obligations. This new law is primarily codified in a vast network of bilateral and multilateral investment treaties, supported by an ever-evolving background of customary international law. Under modern investment treaties, ...