Review of Enforcement of Investment Treaty Arbitration Awards in a (re)Politicized World: Increasing Fragmentation or Constructive Diversity?
Published 1 June 2021
The investment treaty regime comes at its crossroad: with faltering multilateral reforms, investment arbitration is increasingly descending into the national level. Investment arbitration is undergoing institutional trial-outs in multiple dimensions and in multiple directions. Enforcement of investment arbitration awards is one of the key issues. This book reveals the clash of legal cultures and legal institutions in areas of enforcement of investment treaty arbitration awards: the overlaps of general and specialized regimes of recognition and enforcement, different conceptualizations of government-market-right relation in investment disputes, and culturalized rules on public policy and fundamental principles. This book highlights the diversity of representative jurisdictions in terms of supporting or regulating arbitral activism in a changing context. The previous commercialization and ongoing judicialization of investment arbitration reveal the intertwined forces underpinning the system of international investment arbitration: the localized public policy and state immunity procedures to respond to the increasing nationalism and populism while the internationalization of investment arbitration and the commercialized enforcement of resulted awards to respond to the embedded globalization.
A Book Review of "Julien Fouret ed., Enforcement of Investment Treaty Arbitration Awards: A Global Guide, Second Edition, Globe Law and Business, 2021, ISBN 9781787423497, Hardback, pp.791".