- Table of Cases
- Table of International Treaties and Conventions
- Table of Rules and Resolutions
- Table of Legislation
- List of Contributors
- Policy Issues
- Investment, Investor, Nationality, and Shareholders
- Applicable Law
- Multilateral Investment Rules Revisited
- Interactions Between Investment and Non-investment Obligations
- Trade and Investment
- Admission and Establishment
- Standards of Treatment
- Coverage of Taxation Under Modern Investment Treaties
- Most-Favoured-Nation Treatment
- Emergency Exceptions: State of Necessity and <i>Force Majeure</i>
- Investment Insurance
- State Responsibility and Attribution
- Regulatory Transparency
- Corporate Social Responsibility
- Methods of Dispute Resolution
- Procedural Transparency
- Independence, Impartiality, and Duty of Disclosure of Arbitrators.
- Consent to Arbitration
- Jurisdiction and Admissibility
- The Jurisdictional Threshold of a Prima-Facie Case
- The Relationship between International Tribunals and Domestic Courts
- Parallel Proceedings
- Compensation, Damages, and Valuation
- Review of Awards
- An Appellate System in International Investment Arbitration?
- Compliance and Enforcement
- A Doctrine of Precedent?
- Tribunal's Powers versus Party Autonomy
Abstract and Keywords
This article explains the terminology, different functions, effect of damages awards on the acceptability of investment arbitration jurisprudence, and the main principles governing awarding damages. It discusses some of the elements that may have an impact on awarding damages, such as litigation dynamics, overcompensation, and moral hazards. It examines compensation for expropriation, including standard of compensation, valuation methods, compensation for creeping and regulatory expropriation, date and time of expropriation. It discusses compensation for breach of non-expropriatory investment treaty disciplines such as national treatment, denial of justice, and legitimate expectations. This article touches upon the concepts of causation, as well as compensation-reducing and compensation-enhancing elements and examines the role of equitable considerations in awarding damages. It discusses burden of proof and evidentiary issues and provides an overview of other issues and presents some concluding remarks.
Thomas W. Wälde is Professor and Jean-Monnet Chair, Centre for Energy Petroleum and Mineral Law and Policy, University Dundee, Scotland, and Essex Court Chambers.
Borzu Sabahi is Adjunct Professor of Law, Doctoral (SJD) Candidate, Georgetown University Law Centre, Washington, DC.
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