From Bilateral Arbitral Tribunals and Investment Courts to a Multilateral Investment Court
This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The “feasibility study” presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The “feasibility study” presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.
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Description of From Bilateral Arbitral Tribunals and Investment Courts to a Multilateral Investment Court
This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an o
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About the authors
Faculty of Law Saarland University Saarbrücken, Germany. Marc Bungenberg is Director of the Europa-Institut and a professor of Public Law, European Law and Public International Law at Saarland University in Germany, visiting professor at the University of Lausanne/Switzerland and member of the scientific advisory board to the International Investment Law Centre in Cologne. Marc received his doctorate in law from the University of Hannover and wrote his habilitation treatise at the Friedrich-Schiller-University Jena. He holds an LL.M. from Lausanne University. His main fields of research are European (Common Commercial Policy, public procurement and state aid law) and international economic law, particularly international investment and WTO law.
Marc Bungenberg
Faculty of Law University of Vienna Vienna, Austria. August Reinisch holds Master´s degrees in philosophy (1990) and in law (1988) as well as a doctorate in law (1991) from the University of Vienna and an LL.M. (1989) from NYU Law School. He is admitted to the Bar of New York and Connecticut (since 1990). Since 1998 he has been professor of International and European Law at the University of Vienna. From 2004 to 2006 and 2010 to 2016 he was Dean for International Relations of the University´s Law School. Currently, he is a Member of the Senate of the University of Vienna. Since 2017, he has been serving a Member of the International Law Commission of the United Nations for the quinquennium 2017-2021. His professional experience also includes: Associate Member of the Institut de droit international/Institute of International Law (since 2015), Member of the Permanent Court of Arbitration in The Hague/Netherlands (since 2014), Member of the Austrian Delegation to numerous General Meetings at the UN, New York, since 2012, Member of the Panels of Conciliators and of Arbitrators maintained by the International Centre for Settlement of Investment Disputes (ICSID) in Washington D.C./USA (since 2002). Since 2001 he serves as US-government appointed arbitrator on the In Rem Restitution Panel according to the Austrian General Settlement Fund Law 2001. Currently, he is also on various investment arbitration tribunals.
August Reinisch
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