Investment Arbitration and National Interest (Csongor István Nagy Ed., Council on International Law and Politics, Indianapolis 2018)
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See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/330567002 Investment arbitration and national interest (Csongor István Nagy ed., Council on International Law and Politics, Indianapolis 2018) Book · January 2019 CITATIONS READS 0 263 15 authors, including: Frank Emmert Wasiq Dar Indiana University-Purdue University Indianapolis O.P. Jindal Global University 177 PUBLICATIONS 163 CITATIONS 7 PUBLICATIONS 3 CITATIONS SEE PROFILE SEE PROFILE Dalma Demeter Begaiym Esenkulova American University of Central Asia 12 PUBLICATIONS 3 CITATIONS 8 PUBLICATIONS 3 CITATIONS SEE PROFILE SEE PROFILE Some of the authors of this publication are also working on these related projects: Investment Arbitration in Central and Eastern Europe Law and Practice Elgar Arbitration Law and Practice series View project SmartArb - The International Smart Mediation and Arbitration Institute, Indianapolis View project All content following this page was uploaded by Csongor István Nagy on 23 January 2019. The user has requested enhancement of the downloaded file. Csongor István Nagy is professor of law at the University Csongor István Nagy Csongorof Sz Istváneged Nagyand recurrent is professor visiting of law professor at the University at Central Euro-Csongor István Nagy of Szeged and recurrent visiting professor at Central Euro- pean University (Budapest/New York) and Sapientia Uni- Csongor István Nagy CsongorCsongor István István Nagy Nagyis professor is professor of law of at law the at University the University Csongor István Nagy pean versityUniversity of Transylvania (Budapest/New (Romania). York) and Earlier, Sapientia he had Uni- visiting versityof Szegedof of Sz Transylvania egedand recurrent and recurrent (Romania). visiting visiting professor Earlier, professor he at had Central at visiting Central Euro- Euro- pean appointmentspeanUniversity University (Budapest/New in (Budapest/New the Hague, York) Munich, York)and Sapientia and Brno, Sapientia Hamburg, Uni- Uni- appointmentsEdinburgh, in theLondon, Hague, Bloomington Munich, Brno, (Indiana), Hamburg, Brisbane and Edinburgh,versity versity of Transylvania London, of Transylvania Bloomington (Romania). (Romania). Earlier,(Indiana), Earlier, he hadBrisbane he visiting had andvisiting appointmentsBeijing.appointments He in isthe admitted in Hague, the Hague, Munich,to the Munich, Budapest Brno, Brno,Hamburg, Bar Hamburg, and an arbitra- Investment Arbitration Beijing. tor He at isthe admitted Court of to Arbitration the Budapest attached Bar and to an the arbitra- Hungarian Investment Arbitration torEdinburgh, at Edinburgh,the Court London, of London, Arbitration Bloomington Bloomington attached (Indiana), to(Indiana), the Brisbane Hungarian Brisbane and and Chamber of Commerce and Industry. He earned his J.D. ChamberBeijing.Beijing. He of is Commerce admittedHe is admitted to and the Industry.to Budapest the Budapest He Bar earned and Bar an hisand arbitra- J.D. an arbitra- InvestmentInvestment Arbitration Arbitration and Ph.D. from the Eötvös Loránd University of Sciences and National Interest andtor at Ph.D. torthe at Courtfrom the Courtthe of Arbitration Eötvös of Arbitration Loránd attached University attached to the ofto Hungarian Sciencesthe Hungarian and National Interest and his LL.M. and S.J.D. from Central European University. andChamber hisChamber LL.M. of Commerce and of CommerceS.J.D. fromand Industry. Centraland Industry. European He earned He earnedUniversity. his J.D. his J.D. and National Interest and Ph.D.and Ph.D.from thefrom Eötvös the Eötvös Loránd Loránd University University of Sciences of Sciences and National Interest With the emerging waveand of hisand new-generation LL.M. his LL.M.and S.J.D. and S.J.D.fromfree trade Centralfrom Centralagreements European European University.(both University. bilateral Csongor István Nagy With the emerging wave of new-generation free tradeCsongor agreements István Nagy is professor (both bilateralof law at the University Investment BITs BITsand andmultilateral multilateral IIAs), IIAs),investment investment arbitration arbitration hasof Sz egedbecome has and become recurrent one of visiting onethe centralprofessorof the central at Central Euro-Investment Withissues theWith emerging theof the emerging contemporary wave waveof new-generation of discoursenew-generation on free international trade peanfree University tradeagreements agreements economic(Budapest/New (both relations. (bothYork)bilateral and bilateral Sapientia Uni- Investment issues of the contemporary discourse on international economic relations. Investment BITs andBITs multilateral and multilateral IIAs), investmentIIAs), investment arbitration arbitration hasversity become ofhas Transylvania become one (Romania).of one the of central Earlier,the central he had visiting CriticsCritics argue argue that thatinvestment investment disputes disputes are settled are settled appointmentsin the inframe the in theframeof Hague,intransparent of Munich, intransparent Brno, Hamburg, arbitralissuesarbitralissues of proceedings the ofproceedings contemporary the contemporary devoid devoid discourseof any discourseof democratic any on democratic international on internationallegitimacy,Edinburgh, legitimacy, economic London,giving economic Bloomington givingrelations.ad-hoc relations. ad-hoc private (Indiana), private Brisbane and Beijing. He is admitted to the Budapest Bar and an arbitra- Investment Arbitration bodiesCriticsbodiesCritics argue and “judges” andargue that “judges” investment that the investment competence the competencedisputes disputes to are adjudicate settled to are adjudicate settled in public the in frame public thelaw frame questionsof law intransparent of questions intransparent of great of great arbitralarbitral proceedings proceedings devoid devoid of any of democratic any democratic legitimacy, tor atlegitimacy, the Court giving of Arbitration giving ad-hoc ad-hoc attached private privateto the Hungarian significance - and potentially great cost - to host countries. So far, the main actors Arbitration and National Interest significance - and potentially great cost - to host countries.Chamber of Commerce So far, the and main Industry. actors He earned his J.D.Arbitration and National Interest and National Interest inbodies investor-stateinbodies investor-state and “judges” and arbitration“judges” the arbitration competence the have competence havebeen to beenslow adjudicate to toslow adjudicate respond andto public Ph.D.respond to publicfrom lawthis the toquestionscriticism. lawEötvös this questions Lorándcriticism. Asof Universityagreat result, of As great aof result,Sciences and his LL.M. and S.J.D. from Central European University. Arbitration and National Interest severalsignificanceseveralsignificance countries countries - and have -potentially and have refused potentially refused great to honor greatcost to honor - awards costto host -awards to against countries.host againstcountries. them So andthemfar, So thea far, coupleand main the a couple mainhaveactors actors have Arbitration and National Interest in investor-statein investor-state arbitration arbitration have beenhave beenslow toslow respond to respond to this to criticism. this criticism. As a result, As a result, eveneven withdrawn withdrawn from from investment investmentWith thearbitration emerging arbitration wave altogether. of new-generation altogether. free trade agreements (both bilateral several countries have refused to honor awards against them and a couple have Investment Theseveral Thepresent countries present volume volumehave addresses refused addressesBITs tofive andhonor central fivemultilateral awardscentral issues IIAs), againstissues investmentin the in scholarlythem arbitrationthe andscholarly debate hasa couple become debate on onehave invest- of on the invest-central even withdrawn from investmentissues of the contemporaryarbitration discoursealtogether. on international economic relations. mentevenment withdrawnarbitration arbitration fromand national andinvestment national interest: arbitration interest: altogether. The presentThe present volume volume addresses addressesCritics five arguecentral five that central issuesinvestment issues in disputesthe in scholarly the are settledscholarly debate in the debate frame on ofinvest- intransparent on invest- 1. Challenges1. Challenges to the to legitimacy the legitimacyarbitral of the proceedings of current the current devoid system, of system, any in democratic particular in particular legitimacy, based giving onbased cases ad-hoc on privatecases ment mentarbitration arbitration and national and national bodiesinterest: andinterest: “judges” the competence to adjudicate public law questions of great of abuse,of abuse, lack oflack access of access and transparency, and transparency, insufficient insufficient public public participation, participation, and and 1. Challenges1. Challenges to the to legitimacy the legitimacysignificance of the of current -the and potentiallycurrent system, system,great in cost particular -in to particularhost countries. based based onSo far, cases the on main cases actors Arbitration and National Interest difficultiesdifficulties with withbalancing balancing ofin investor investor-state of investor rights arbitration rights and havehost and been state host slow (public) state to respond (public) interests; to this criticism.interests; As a result, of abuse,of abuse, lack of lack access of access and transparency, and transparency, insufficient insufficient