Today Week Month

Transforming the Investment Treaty System through Joint Termination and Amendment.

Start/End Monday, October 14, 2013 06:30 PM EDT -- 09:00 PM EDT
Location Name Chadbourne & Parke, 30 Rockefeller Center, 36th Floor Board Room


The field of international investment law has been shifting rapidly in the last 15 years. Some states have chosen to unilaterally terminate investment treaties and/or withdraw from the ICSID Convention, while others have frozen their investment treaty programs or decided against including investor-state arbitration provisions in future treaties.  Other states have redrafted their investment treaties and Model BITs, moving from a previous era of investment treaties (that tended to be vaguely worded and investor-friendly) to a newer style (that tends to be more protective of the regulatory authority of host states and the interpretive powers of the treaty parties).

If states unilaterally withdraw from investment treaties, most treaties provide a sunset clause allowing the treaty protections to continue to apply for 10-20 years after notice of termination. But could the treaty parties circumvent the survival clause by agreeing to jointly terminate or amend the treaty with immediate effect? For instance, the Czech Republic has reportedly agreed with some of its EU investment treaty parties to (1) jointly terminate their investment treaties with immediate effect and (2) amend the survival clauses to state that they no longer apply. Are such actions permitted as a matter of law? Are they wise as a matter of policy?

Given the timeliness and importance of these issues, the Vale Columbia Center on Sustainable International Investment, the Center on International Commercial and Investment Arbitration, and Chadbourne & Parke's Public International Law and International Arbitration practice group are hosting a moderated discussion on the topic. The event is scheduled for October 14, 2013, at 6:30 pm, at the offices of Chadbourne & Parke at 30 Rockefeller Center in New York. 

Professor Anthea Roberts from Columbia Law School and the London School of Economics will start the panel by presenting on whether states can transform the investment treaty system through joint termination and amendment with immediate effect. Other panelists, who will include representatives from government, private practice, and academia, will  provide a critique of this issue from their own perspectives.