scholarly journals Political risk insurance in the litigation test: benchmarks and practical determinants

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Bruno Fernandes Dias
Keyword(s):  
International Law ◽  
Foreign Investment ◽  
Political Risk ◽  
Case Law ◽  
Foreign Investors ◽  
Party Autonomy ◽  
The Core ◽  
Case Selection ◽  
Risk Insurance ◽  
Scope Of Protection

Companies expand their operations abroad despite the risk of government-related losses. Mitigating that risk is at the core of Political Risk Insurance (“PRI”). This paper delves into disputes among policyholders and private, public and multilateral insurers. In this litigation test, it seeks to identify benchmarks on practical determinants. Section II looks at the main aspects of PRI within the dynamic context of its insurable risks. Section III presents the principles of the international law on foreign investment that parallel PRI in the task of mitigating political risk for foreign investors. Section IV brings methodological notes on the case selection and Section V accounts for several benchmarks derived from case law. Section VI proceeds to a conceptual inquiry of three themes that enhance PRI as a legal tool: adequate boundaries between national and international law; party autonomy to determine the scope of protection; and enforcement of subrogation rights.

Part 2 National and Regional Reports, Part 2.1 Africa: Coordinated by Jan L Neels and Eesa A Fredericks, 14 Ethiopia: Ethiopian Perspectives on the Hague Principles

2021 ◽  
Author(s):  
Gebremeskel Fekadu Petros
Keyword(s):  
International Law ◽  
Case Law ◽  
Private International Law ◽  
Choice Of Law ◽  
Party Autonomy ◽  
Applicable Law ◽  
The Subject ◽  
The Hague ◽  
Federal Supreme

This chapter reflects on Ethiopian perspectives on the Hague Principles. Ethiopia does not have a codified law regulating matters of private international law, nor is there detailed case law from which one could derive key principles of the subject. While the shortage of private international law in Ethiopia is evident, the problem is most severe in the area of applicable law. In relation to party autonomy in choice of law, the Federal Supreme Court’s Cassation Division has handed down some interesting decisions, and these indeed have the force of law in Ethiopia. Nevertheless, the approach of the Ethiopian courts in respect of party autonomy is not very developed and clear, including in the field of international commercial contracts. While it would be prudent for Ethiopian courts to refer to the Hague Principles as persuasive authority, this requires awareness of the existence of the Hague Principles. In the long term, the Hague Principles will surely find their way into Ethiopian law.

International Investment, Political Risk, and Dispute Resolution

2020 ◽  
Author(s):  
Rubins Noah ◽  
Nektarios Papanastasiou Thomas ◽  
Kinsella N Stephan
Keyword(s):  
Foreign Investment ◽  
Political Risk ◽  
Legal Framework ◽  
International Investment ◽  
International Investment Law ◽  
Investment Protection ◽  
Political Risks ◽  
Theoretical Approaches ◽  
Previous Edition ◽  
Risk Insurance

This second edition explores the multi-layered legal framework for the protection of foreign investment against political risk. The chapters analyze some of the key issues surrounding this subject, such as structuring transactions to minimize political risk, political risk insurance, State responsibility, treaties protecting foreign investmentand international arbitration between States and investors. Since the previous edition, far more attention has been paid to some of these issues, in particular investor–State arbitration.All chapters have been revised to take into account the number of new arbitration awards that have come to light and the massive volume of commentary on the subject of international investment arbitration since the first edition. The authors have carefully considered the latest theoretical approaches to foreign investment protection and the most intellectually challenging awards issued in the intervening decade, as well as the most recent practical guidance on the procedural recourse available to investors who face political risks. The book is written to appeal to lawyers and non-lawyers alike. It is suitable as a primer for non-specialist practitioners seeking to familiarize themselves with international law pertaining to political risk. It is also suitable for students who intend to specialize in international investment law.

Proportionality in International Law

2010 ◽  
Vol 4 (2) ◽  
pp. 231-242 ◽  
Author(s):  
Thomas M. Franck
Keyword(s):  
International Law ◽  
Cultural History ◽  
Legal System ◽  
Case Law ◽  
Second Opinion ◽  
Remedial Action ◽  
The Core ◽  
History Of ◽  
Principle Of Proportionality ◽  
High Degree

Across a broad range of subjects, there is now wide agreement that the principle of proportionality governs the extent to which a provocation may lawfully be countered by what might otherwise be an unlawful response. That is the central role assigned to proportionality in international law and it is deeply rooted in the cultural history of societies. However, if the core institutions of a legal system are too weak to be relied upon to take remedial action against wrongdoers, then they must at least be authorized to license appropriate action by the wronged party and to insure that its response remains within prescribed parameters.The practice described in this essay demonstrates that a high degree of accord is emerging across a broad range of issues to the appropriate standards by which the proportionality of countermeasures can be assessed. The practice of various institutions authorized to render second opinions as to the compliance with those standards is gradually narrowing the range of indeterminacy inherent in the term proportionality. Some of this case law has been disappointingly episodic. The well-crafted second opinion, through its precision, its invocation of precedent, and its careful weighing of the probity of the facts presented to it, deepens and narrows the jurisprudential stream while strengthening its embankments.If applied in practice through second opinions rendered by legitimate institutions, proportionality is an example of an indeterminate principle becoming gradually empowered to provide persuasive answers to difficult questions and, thereby, case by case, building the objective determinacy of the principle.

scholarly journals CUSTOMARY LAW IN INVESTMENT REGULATION

2014 ◽  
Vol 23 (1) ◽  
pp. 23-48 ◽  
Author(s):  
Jorge E. Viñuales
Keyword(s):  
International Law ◽  
Foreign Investment ◽  
Case Law ◽  
Customary Law ◽  
State Sovereignty ◽  
Police Powers ◽  
Investment Treaties ◽  
Droit International ◽  
Legal Grounds

This article explores the expression of State sovereignty through customary norms in a regulatory space dominated by investment treaties. It argues that, because most of the actionable concepts expressing sovereignty in international law are general (not specific to a “branch”) andcustomary, misunderstanding the role of customary law in investment regulation amounts to confining sovereignty to a few narrow carve-outs and exceptions in investment treaties. However, customary concepts operate autonomously and in parallel to treaties, unless specifically excluded by the latter. The lex specialis principle does not necessarily command the exclusion in toto of relevant customary rules. The article discusses the work of the Institut de Droit International in this regard and then analyses the investment case law relating to the application of the police powers doctrine, necessity, countermeasures and transnational public policy. It shows that failure to address specifically the articulation of treaty and customary norms even in the event the former apply as lex specialis is subtly eroding, without clear legal grounds,the customary expression of sovereignty in foreign investment disputes.

Host States’ Due Diligence Obligation Towards Foreign Investors in the Context of Rebellions and Civil Wars

2021 ◽  
Vol 22 (5-6) ◽  
pp. 705-731
Author(s):  
Patrick Dumberry
Keyword(s):  
Civil War ◽  
International Law ◽  
Civil Wars ◽  
Case Law ◽  
Due Diligence ◽  
Foreign Investors ◽  
State Practice ◽  
Security Clause ◽  
Full Protection ◽  
Take All

Abstract Based on an analysis of State practice and case law, this article examines one basic principle of international law embodied in Article 10 of the International Law Commission’s Articles on State responsibility. In the context of an unsuccessful insurrection or civil war, the host State is responsible for its own failure to discharge its due diligence obligation to protect foreign investors in relation to acts committed by rebels, i.e. to make all efforts within its capacity to suppress an insurrection and to take all reasonable measures to prevent injurious conduct by rebels and damages from occurring. This article examines the scope and content of this ‘duty to protect’ obligation, the applicable ‘test’ and the relevant circumstances to determine whether any breach of the obligation has been committed in light of recent investment awards analysing the full protection and security clause in the context of Libya’s civil war.

Part 2 National and Regional Reports, Part 2.1 Africa: Coordinated by Jan L Neels and Eesa A Fredericks, 18 Tunisia: Tunisian Perspectives on the Hague Principles

2021 ◽  
Author(s):  
Elbalti Béligh
Keyword(s):  
International Law ◽  
Case Law ◽  
Private International Law ◽  
Choice Of Law ◽  
Party Autonomy ◽  
Legal Literature ◽  
The Hague ◽  
International Instruments ◽  
International Conventions ◽  
Clear Solution

This chapter focuses on Tunisian perspectives on the Hague Principles. The main source of private international law in Tunisia is the 1998 Code of private international law (CPIL). Tunisia has not signed any convention on choice of law in international contractual matters. However, it is worth mentioning that, in the field of international arbitration, some conventions to which Tunisia is party include an express reference to party autonomy. As a matter of principle, Tunisian courts are bound only by Tunisian law and other international instruments duly ratified by Tunisia. Nevertheless, it is not uncommon that Tunisian courts refer to foreign laws, international conventions not ratified by Tunisia, model laws, foreign case law, or even foreign legal literature when such reference is deemed persuasive. Therefore, it can be safely said that nothing prevents Tunisian courts from referring to the persuasive authority of the Hague Principles. This would be the case if the parties invoked the Principles in support of their arguments in the case where a clear solution is lacking under Tunisian law.

A Brand New Definition for the Crime of Aggression: The Kampala Outcome

2012 ◽  
Vol 81 (2) ◽  
pp. 227-248 ◽  
Author(s):  
Marina Mancini
Keyword(s):  
International Law ◽  
International Criminal Court ◽  
Rome Statute ◽  
International Criminal ◽  
Case Law ◽  
Criminal Court ◽  
Customary International Law ◽  
The Core ◽  
Definition Of

At the first Review Conference of the Rome Statute of the International Criminal Court, which was held in Kampala in 2010, the negotiations on the crime of aggression resulted in a complex package, at the core of which are the definition of the crime and the conditions for the exercise of the Court’s jurisdiction over it. This article examines the definition of the crime of aggression, as enshrined in the new Article 8 bis, considering the various parts of that package as well as the existing practice and case law. On the basis of this analysis, it evaluates the relevance of the Kampala definition to the evolution of customary international law.

scholarly journals Legal Analysis of Supporting Methods of Foreign Investors in Nationalization and Property Confiscation

2020 ◽  
Vol 7 (10) ◽  
pp. 469
Author(s):  
Javad Sabih Maleki ◽  
Siamak Karamzadeh
Keyword(s):  
International Law ◽  
Foreign Investment ◽  
Economic Security ◽  
Foreign Investor ◽  
Legal Analysis ◽  
Foreign Investors ◽  
Customary International Law ◽  
Effective Manner ◽  
Property Confiscation ◽  
The Right

Nationalization of foreign investor assets does not serve the interests of countries because it disrupts the economic security of states and ultimately leads to a reduction in foreign investment. Governments have sought to minimize investor nationalization and property confiscation in order to attract foreign investment. In the event of expropriation of a foreign investor, governments are required to compensate the investor. The position of customary international law on how to pay compensation and methods of assessing damages includes procedures based on national law, treaties and judicial decisions or arbitration. In order to support investors, it is necessary that the right to nationalize property and expropriation of investors should be very limited. Further, in case of nationalization, the damage must be compensated in a desirable and effective manner. The foreign investor must enjoy the same rights as domestic investors and at the same time have the right to transfer their capital and profits abroad. Appropriate measures should also be taken to amend national laws in order to consolidate and guarantee the ownership of foreign investors.

7 Expropriation and Compensation

2009 ◽  
Author(s):  
Gallagher Norah ◽  
Shan Wenhua
Keyword(s):  
Public Health ◽  
International Law ◽  
Foreign Investment ◽  
Case Law ◽  
Legal Regime ◽  
Foreign Investments ◽  
Core Element ◽  
Health Safety ◽  
Definition Of ◽  
Regulatory Actions

Expropriation is a core element of the international legal regime relating to foreign investment. The international law relating to expropriation has evolved rapidly within the context of the modern framework for foreign investments, including multilateral treaties, bilateral investment treaties (BITs), and domestic foreign investment laws. This chapter examines the scope and definition of expropriation in the treaties and case law. It reviews how the provisions on expropriation in China's BITs have evolved and considers their scope, and whether they cover indirect or regulatory expropriation which tribunals are more often faced with today. The majority of claims are for indirect or regulatory expropriation and this has prompted states to include provisions in their Model BITs excluding non-discriminatory regulatory actions by a state implemented in the interest of public health, safety, and the environment. The chapter considers the conditions of a lawful expropriation as it is an accepted principle that expropriation is not illegal. Finally, it looks at the level of compensation awarded for an expropriation, one of the more important aspects of this standard of protection.

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