Introduction

Shareholder protection has come a long way since Barcelona Traction . It is now generally accepted, on the basis of treaty provisions, that shareholding in a company is a form of investment that enjoys protection. Even if the affected company does not fulfil the nationality requirements under the relevant treaty there will be a remedy if the shareholder does. This is particularly relevant where, as is frequently the case, the company has the nationality of the host State and does not qualify as a foreign investor. In this situation, the company in question is not treated as ...