Transforming the Investment Treaty System through Joint Termination and Amendment.
Monday, October 14, 2013 06:30 PM EDT
-- 09:00 PM EDT
Chadbourne & Parke, 30 Rockefeller Center, 36th Floor Board Room
Please register here. REGISTRATION FOR THIS EVENT IS FREE BUT REQUIRED.
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.