After completing the seminar, the student will be able to:

- Understand the origins and evolution of investment treaty arbitration - Have mastery over the features of investment treaty arbitration and its association with both international law and international commercial arbitration.
- Theorize about investors' international legal personality and its impact over the contracting States' autonomy.
- Know the most used rules of arbitration and explain the advantages of the ICSID Convention regarding annulment, recognition and enforcement of arbitral awards.
- Identify the substantive standards of investment protection and the leading arbitration awards
- Explain the EU's objections vis-a-vis intra and extra EU investment treaty arbitration - Understand the backlash against investment treaty arbitration and current proposals for change.

Syllabus

Part 1. An overview of investment treaty arbitration
1.1. Origins and evolution of investment treaty arbitration
1.2. Features of investment treaty arbitration
1.3. The role of investors and the autonomy of the contracting parties
1.4. Rules of arbitration and the investor's preference for ICSID arbitration

Part 2. Investment treaty standards
2.1. FET (Fair and equitable treatment) standard
2.2. Protection against direct and indirect expropriations
2.3. Other standards

Part 3. Investment treaty arbitration and EU law
3.1. Intra-EU arbitration: Achmea and Komstroy rulings
3.2. Extra-EU arbitration: Opinion 1/17 of the ECJ

Part 4. Backlash against investments treaty arbitration and proposals for change
4.1. Independence and impartiality of arbitrators
4.2. Right to regulate and regulatory chill
4.3. Incremental, systemic and radical reforms