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Something Borrowed, Something New: The TTIP Investment Court: How to Fit Old Procedures into New Institutional Design

Chapter
Part of the Studies in European Economic Law and Regulation book series (SEELR, volume 10)

Abstract

The key component of the European Union’s ambitious foreign investment policy is the shift away from traditional investor-state arbitration to a permanent investment court system. This bilateral investment court features, amongst other things, an appeals mechanism and thereby responds to widespread criticism over the inconsistency, and consequent lack of legitimacy, of investor-state arbitration. Rather than addressing all aspects of investor-state dispute settlement, however, the investment court system is merely an institutional reform, which depends for all other relevant purposes on established arbitration rules. A TTIP investment court would therefore fall prey to the legal and institutional constraints for which ICSID and UNCITRAL have initially been designed. Taken together with the current US administration’s division on trade and investment policy, the prospects of a TTIP investment court remain all but certain. If successful, on the other hand, it would represent above all an important step towards transatlantic adjudicative institutionalisation.

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Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  1. 1.University of GothenburgGothenburgSweden

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