By Taida Begic
This booklet supplies a complete evaluate of all correct facets of the problem of acceptable sizeable legislation within the context of investor/State arbitration. it's a comparative survey of either the overseas middle for payment of funding Disputes (ICSID) and non-ICSID arbitral perform. The appropriate major legislation represents an enormous factor in funding disputes because it determines the principles of legislation that are meant to be utilized to the advantages of the dispute. This research demonstrates the necessity for a dialogue at the appropriate legislation earlier than analyzing the advantages of the case, because it seems to be non-existent in so much arbitral awards. the writer provides an intensive survey of selection of legislation clauses as present in direct agreements among events and in multilateral or bilateral funding treaties. in addition, the writer analyzes the next matters: stabilization clauses in funding agreements, the applying of the residual rule (if events didn't agree at the acceptable law), the particular place of the Iran-US Claims Tribunal and numerous annulment judgements.
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Extra resources for Applicable Law in International Investment Disputes
323, para. 77. At p. 323, para. 78. At p. 323. 47 The Tribunal proceeded to examine the compatibility of the nationalization with international law on stabilization clauses. It said: 88. It is indeed in connection with these clauses that the principles of international law are used to complete the rules of Congolese Law. 48 Therefore, the Tribunal used the international law principles in order to complete the rules of Congolese law. It found that the dissolution by unilateral means decided upon by the Ordinance was not in conformity with international law on the stabilization clauses.
After determining the applicable law, the Tribunal turned to analyzing the content of the Congolese law. It noted that: 45. Congolese law, as it relates to civil and commercial matters, applies French law as it was in force at the time of the accession of the country to independence (1960). 32 28 29 30 31 32 AGIP v. Congo, Award, 30 November 1979, 1 ICSID Reports 306. At p. 313. At p. 318, para. 43. At p. 318, para. 44. At p. 318. 22 CHAPTER II The Tribunal referred to the Constitution of Congo of 1973 and the Fundamental Act of the Military Committee of the Party of 1977 which, to a certain extent, modified the Constitution.
Congolese law, as it relates to civil and commercial matters, applies French law as it was in force at the time of the accession of the country to independence (1960). 32 28 29 30 31 32 AGIP v. Congo, Award, 30 November 1979, 1 ICSID Reports 306. At p. 313. At p. 318, para. 43. At p. 318, para. 44. At p. 318. 22 CHAPTER II The Tribunal referred to the Constitution of Congo of 1973 and the Fundamental Act of the Military Committee of the Party of 1977 which, to a certain extent, modified the Constitution.