International Investment Law

Module 1 — Foundations of International Investment Law

Students are introduced to the international legal framework governing foreign investment and the relationship between investors and host States. The course examines bilateral investment treaties, multilateral agreements and relevant domestic legislation.

Module 2 — Investment and Investor Protections

Students examine the concept of a protected investment and the importance of determining whether an investor and investment fall within the scope of an applicable treaty. The course introduces common standards of protection without assuming that identical wording has identical legal meaning in every treaty.

Module 3 — Fair and Equitable Treatment

Students are introduced to fair and equitable treatment standards and the need to interpret them according to the wording, context and applicable law of the relevant investment agreement. The course emphasises careful distinction between legitimate expectations, arbitrary conduct and ordinary regulatory decisions.

Module 4 — Expropriation and State Regulation

Students examine direct and indirect expropriation and the distinction between compensable takings and legitimate exercises of State regulatory authority. The course stresses that the legal outcome depends on the applicable treaty, facts and circumstances.

Module 5 — Non-Discrimination and Treatment Standards

Students examine common investment protections including national treatment, most-favoured-nation treatment and protection against arbitrary or discriminatory conduct where provided by the applicable agreement. Students learn to identify the precise treaty language before drawing conclusions.

Module 6 — Investor-State Dispute Settlement

Students are introduced to investor-State arbitration and other dispute-settlement mechanisms. The course examines consent to arbitration, jurisdiction, admissibility, evidence, applicable law and remedies, while emphasising that jurisdiction depends on the relevant treaty and procedural requirements.

Knowledge Test

1. What is a key source of international investment protections?

An applicable investment treaty or other governing legal instrument A social-media post A private advertisement A newspaper headline

2. Why must the definition of 'investment' be checked before bringing a treaty claim?

Because treaty protection generally applies only to investments falling within the applicable legal definition Because every asset is automatically protected Because domestic law never matters Because jurisdiction is irrelevant

3. What is an important issue when assessing an expropriation claim?

Whether the State measure amounts to a compensable taking under the applicable law Only the investor's nationality The colour of the investment documents Whether the investor made a profit

4. What does investor-State dispute settlement generally provide?

A mechanism through which a qualifying investor may bring a dispute against a State where the applicable legal instrument provides consent Automatic jurisdiction over every State A criminal court for all investment disputes Unlimited authority over domestic governments

5. Why is the exact wording of an investment treaty important?

Different treaties can define protections, jurisdiction and exceptions differently All investment treaties are identical Treaty wording has no legal effect Only the investor decides what the treaty means