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Corruption and Illegality in Asian Investment Arbitration

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  • Open Access
  • © 2024

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  • Presents comprehensive and up-to-date information on anti-bribery rules
  • Addresses Asian approaches towards corruption and illegality in investment arbitration
  • Explores economic and legal issues in corruption and investment arbitration
  • This is an open access title so you have free access

Part of the book series: Asia in Transition (AT, volume 22)

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About this book

This open access book explores Asian approaches towards investment arbitration—a transnational procedure to resolve disputes between a foreign investor and a host state—setting it in the wider political economy and within domestic law contexts. It considers the extent to which significant states in Asia are, or could become, “rule makers” rather than “rule takers” regarding corruption and serious illegality in investor-state arbitration. Corruption and illegality in international investment are widely condemned in any society, but there remains a lack of consensus on the consequences, especially in investment arbitration. A core issue addressed is whether a foreign investor violating a host state’s law should be awarded protection of its investment, as per its contract with the host state and/or the applicable investment or trade agreement between the home state and the host state. Some suggest such protection would be unnecessary as the investor committed a crime in the host state, while others attempt to establish an equilibrium between the investor and the host state. Others claim to protect investment, invoking the sanctity of promises made. The book starts with a deep dive into economic and legal issues in corruption and investment arbitration and then explores the situation and issues in major countries in the region in detail. It is a useful reference point for lawyers, economists, investors, and government officials who are seeking comprehensive and up-to-date information on anti-bribery rules in Asian investment treaties. It is of particular interest to students and researchers in economics, finance, and law, who are undertaking new research relating to the multifaceted impacts of corruption.


Table of contents (16 chapters)

  1. General Legal Issues from the Interface of Corruption, Illegality and Investment Arbitration

Editors and Affiliations

  • Institute of Asian Studies, Universiti Brunei Darussalam, Bandar Seri Begawan, Brunei Darussalam

    Nobumichi Teramura, Bruno Jetin

  • Law School, University of Sydney, Sydney, Australia

    Luke Nottage

About the editors

Nobumichi Teramura is Assistant Professor at the Institute of Asian Studies, University of Brunei Darussalam (UBD), and Affiliate at Centre for Asian and Pacific Law in the University of Sydney (CAPLUS), specialising in business law, with a particular interest in arbitration, private international law, contract law, and Asian law. He has taught private international law and commercial law as Lecturer at the Adelaide Law School in Australia (2019). He has lectured at the College of Law of De La Salle University in the Philippines in 2016, 2017, and 2019 on international arbitration and trade law. He has teaching and research experience in Australia, Brunei, Cambodia, Hong Kong, Indonesia, Japan, and the Philippines. He is active in developing institutional academic links among these countries, not only for himself, but also for his colleagues and students, to contribute to promoting legal dialogue among countries in the Asia-Pacific.

Luke Nottage is Professor ofComparative and Transnational Business Law at Sydney Law School, specialising in arbitration, contract law, consumer product safety law, and corporate governance, with a particular interest in Japan and the Asia-Pacific. He is founding Co-director of the Australian Network for Japanese Law (ANJeL) and Associate Director of the Centre for Asian and Pacific Law at the University of Sydney. He is also Managing Director of Japanese Law Links Pty Ltd. and Special Counsel with Williams Trade Law. Luke has consulted for law firms world-wide as well as ASEAN, the European Commission, OECD, UNCTAD, UNDP and the Governments of Japan and Saudi Arabia. He is also a Rules Committee member of ACICA and on the Panel of Arbitrators for the AIAC (KLRCA), BIAC, CAAI, JCAA, KCAB, NZIAC, SCIA, TAI and THAC. His other 19 books include five on international dispute resolution.

Bruno Jetin is Associate Professor at Universiti Brunei Darussalam (UBD) where he was Director of the Instituteof Asian Studies (2018-2022). Prior to joining UBD, he was a research fellow at the Institute for Research on Contemporary Southeast Asia (IRASEC, CNRS-MAEE, Bangkok) and Associate Professor at the University Sorbonne Paris Nord where he was Deputy Director and then Acting Director (2010-2012) of the Research Center in Economics. He holds a PhD in economics from the University of Sorbonne Paris Nord. His current research areas include ASEAN and the Belt and Road Initiative, foreign investment and corruption in Asia-Pacific, income distribution and growth. He is also an expert in the automobile industry and the electric car and is a member of the steering committee of the GERPISA-International Network.

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