Achievement requirements
Knowledge
Students are expected to achieve a good understanding of the following topics on the basis of the assigned literature:
- The history and development of international investment law from its origins in the law of diplomatic protection, to the current system based on arbitral settlement of disputes directly between foreign investors and states
- Main sources, in particular the relationship between arbitral practice, customary law and treaty standards.
- The key concepts and common characteristics of bilateral investment treaties, including in particular the concept of ‘investor’ and ‘investment’.
- The mechanism of arbitral settlement of disputes, especially as based on the ICSID-convention or the New York convention and provisions for arbitration in bilateral investment treaties, including the main requirements of jurisdiction and enforcement.
- The main substantive standards, particularly the expropriation, fair and equitable treatment, national treatment and most favoured nation treatment standards, and their relationship to the minimum standards of treatment under customary international law.
- The relation between the main substantive standards and the specific principles developed in relation to host state regulatory concerns in the field of foreign investment such as the notions of police powers and the right to regulate.
- The role and significance of general principles of state responsibility under international law for the law of foreign investment, including in particular the rules of attribution and exemptions for emergency regulation in times of crisis.
- The legal and practical significance of contractual (or similar) arrangements entered into by states directly with foreign investors, including their relationship to international investment treaties and in particular the significance of ‘umbrella clauses’ in such treaties.
The students are also expected on the basis of the assigned literature and the course lectures to have acquired knowledge of the following topics:
- Key legitimacy and policy issues in relation to reform of the law, including in particular principles on transparency and third party participation.
- Potential responsibilities of foreign investors: the role of human rights, labour standards and environmental concerns; key aspects of the international law related to corruption.
- Main aspects of the political controversies in relation to the law of foreign investment, including the historical “New International Economic Order” movement, the MAI controversy and contemporary criticism of the law.
Skills
- Analyse and identify the relevant legal issues in complex factual matters concerning government treatment of foreign investors and investment
- Be able to find the applicable source material, and identify and interpret the relevant substantive rules and principles, in a concrete dispute between a state and a foreign investor
- Know the main risks and propose legal solutions in cases of planned investments of private companies in foreign countries
- Be able to critically evaluate existing treaties, rules and practices for protection of foreign investment in the light of relevant concerns
General competence
- Be able to perform relevant legal work in law firms, companies, organizations and government institutions relating to foreign investment
- Develop an understanding of the main interests and concerns relating to protection of foreign investors and investment under international law
- Get an understanding of the dynamic development of a specific field of international law on the basis of relevant concerns and interests
Literature
The following constitutes the required reading for the course. In addition a course schedule will also be published, containing recommended additional reading and case law in respect of each lecture.
Books from the reading list to be found in The Law Library (Oria)
Please note that this is just a 'quick search' for parts of the reading list.
Be careful always to consult the reading list for complete information.
If there are no available copies in the library, you can 'sign-in' in the library database Oria with UiO username and password and make a reservation!
Book
Rudolf Dolzer and Christoph Schreuer: Principles of International Investment Law, 2012. Oxford University Press. (290 pages).
E-book: The following chapters and articles are available from the University Library by using "BIBSYS ASK" online-system.
Alvik, Ivar : Contracting with Sovereignty – State Contracts and International Arbitration, 2011. Hart Publishing, Oxford. Chapter 4 pp. 144-158 and chapter 5 pp. 159-221 (77pages).
You may search for journals (printed and e-journals/E-books) by using "BIBSYS Ask" or "Find e-Journal". Both are available at the English home page of Unversity of Oslo Library: http://www.ub.uio.no/english/
Articles
Langford, Malcolm: "Cosmopolitan competition: The case of international investment", in: Cosmopolitan Justice and its Discontents, 2011. Cecilia M. Baillet and Katja Franko Aas, Abingdon Routledge. pp. 178-201 (23 pages). Searchable in the Library's search service Oria
Lowenfeld, Andreas: International Economic Law, 2008. Oxford University Press, Oxford. Chapters 15 and 17 (62 pages). (Library DB, not available on-line)
Mestad, Ola: "Attribution of Responsibility to Listed Companies", in: Human rights, Corporate Complicity and Disinvestment, 2011. Gro Nystuen, Andreas Føllesdal and Ola Mestad (eds.), Cambridge University Press . Pp. 79-106 (27 pages) . Searchable in the Library's search service Oria
Raeschke-Kessler, Hilmar: "Corruption", in: The Oxford Handbook of International Investment Law, 2008. Muchlinski, Ortino and Schreuer (eds.), Oxford University Press, Oxford. Pp. 584-614 (30 pages) .Oria
Sornarajah, M.: The International Law on Foreign Investment, 2010. Cambridge University Press. Pp. 1-28, 47-69 and 144-155 (61 pages). Searchable in the Library's search service Oria