Abstract

Investment arbitration is a game of two halves. The second half begins when a successful investor seeks to convert a favourable award into actual monetary compensation. When the state fails to voluntarily comply with the award, the investor is forced to avail itself of enforcement mechanisms. When faced with enforcement efforts by investors, states often exercise sovereign immunity to shield their sovereign interests. Sovereign immunity remains fragmented, and there is no uniformity in its scope of application or in the nature and manner of its waiver. This article analyses the ...