Introduction

In reaction to the growing discontent over the shape of investor-state dispute settlement (ISDS), one could observe several different kinds of response to the continuous increase of investment disputes and to the concerns they raise. For instance, multilateral reform action on ISDS is currently being discussed at the United Nations Commission on International Trade Law (UNCITRAL). At the same time, many states innovate their model bilateral investment treaties (BITs) by clarifying investment protection standards or re-affirming the right to regulate. One rather extreme ...