National Treatment o Definition o Drafting provisions o Violation of standard  Comparator - Business sector - Not like products - Legal regime  Less favourable treatment - Treatment - No less favourable - Discriminatory intent  No reasonable justification for differentiated treatment Most Favoured Nation Treatment o Relationship with Customary International Law o Ejusdem Generis principle o Scope of application  Treaties  Treatment of TP Investors  De...

Standards of treatment o Contingent/Relative o Non-contingent/Absolute Fair & Equitable Treatment o Definition o Treaty adoption methods o Autonomous v Minimum standard o Substantive content  - Case-by-case  - Creeping violations  - State functions o Violations  - Frustration of Investor’s expectations  - Denial of justice/due process  - Arbitrariness/Discrimination  - Absence of good faith o ECT  - Conditions  - Reliance on Host State’s commitm...

Direct expropriation - Nationalisation - Clear - Unclear Lawful expropriation - Public purpose - Non-discriminatory measures - Due process - Compensation Indirect Expropriation - Measures - Discriminatory tax - TP Interference - Government's breach of contractual obligations - Interference with investment management - Revocation/Denial of permits/licences Indirect Expropriation - Criterion - State's police powers - Treaty practice - Impact of measure - Partial expr...

Defences - Express Exceptions in Investment Treaties - Security Exceptions - Interpretation - General Exceptions (Art XX GATT/Art XIV GATS) - Tax measures - Government procurement/subsidies/grants - State's financial infrastructure - Existing/Future non-conforming measures Defences - Customary International Law - Consent - Force Majeure - State of Necessity State Counterclaims - Treaties/ICSID Convention/Arbitration Rules - Instruments of consent - Variations of scope of co...

Which law governs the arbitration agreement? o Tribunal  A-national rules  Seat of arbitration  Parties’ law o National court o Conflict of law rules o Law governing substantive contract o Seat of arbitration o UK  [Sulamerica]  [ENKA v Chubb] o France  [Dalico] o Switzerland What are the elements of an arbitration clause? o Parties’ intent to arbitrate  [Anzen] o Ad hoc v Institutional arbitration o Seat of arbitration What are multi-tiered clauses? ...

State responsibility - Constituent elements - Legal effects Attribution of wrongful conduct to states - State organs - Entities exercising elements of governmental authority - Ultra vires acts of State organs/agencies - Conduct directed/controlled by State - Subsequent adoption/acknowledgment by State Treaty interpretation - General rule (Art 31 VCLT) - Supplementary means (Art 32 VCLT) - Treaties authenticated in +2 languages (Art 33 VCLT)

Standards of protection before WW2 - Standards of protection - Scholarly opinion - Early cases - Efforts on codification - BITs Standards of protection after WW2 - Multinational investment framework - Post-colonial challenges to protection frameworks - Renewed attempts > Global treaty

Non-ICSID arbitration o UNCITRAL Arbitration Rules  - History  - Transparency o ICSID Additional Facility Rules  - Schedules  - Proceedings  - Disputes  - Secretary-General's prior approval  - Tribunal's constitution  - Provisional measures  - Applicable law  - Remedies vs Award  - Fees & Costs o Non-ICSID Investment Treaty Arbitration  - Lex arbitri  - Parties' chosen rules  - Law of the seat (Directly function/Mandatory function/Sup...

Annulment Annulment vs Appeal Annulment as Discretionary Remedy Development of Annulment Scope of Annulment o Decisions not subject to annulment o Decisions subject to annulment o Annulment of parts of the award o Parties’ waiver of the right of annulment Procedure o Time limits o Formal requirements o Registration of the annulment application o Constitution of the Ad Hoc Committee o Procedural rules applicable to annulment proceedings Stay o Provisional stay o Request for sta...

Conduct - Time limits - Ancillary claims - Written + Oral proceedings - Rules of evidence - Closure of proceedings Applicable law - Law agreed by parties - Absence of parties' agreement - Deciding disputes ex aequo et bono - Wrong substantive law application - Applicable law for questions of procedure and jurisdiction Tribunal's award - Tribunal's obligation to decide dispute - Tribunal's award - Remedies vs Award