Introduction

UNCITRAL Working Group III (the "Working Group") was formed more than six years ago to address widespread criticism of the investor-State dispute settlement system created by the worldwide network of bilateral and multilateral investment treaties ("ISDS"). The Working Group has made little progress to date for a number of reasons, not least of which is the fact that not everyone in the Working Group agrees that there is a crying need for reform. There remain staunch proponents of ISDS who maintain that its virtues far outweigh its drawbacks, see it as an appropriate vehicle for the ...