Abstract

[Addendum June 2014] Presently, the treaty-based system of investor-state dispute settlement (ISDS) is encountering unprecedented scrutiny. It is widely criticised for a number of reasons, including a lack of transparency, a proliferation of conflicting decisions, arbitrators who lack impartiality, and ever increasing delays/costs. Accordingly, there have been various calls for the reform of ISDS. Numerous reforms have been proposed, including the introduction of an appeals facility and/or the creation of a dedicated world investment court. So far, all such proposals have failed to be ...