This open access book explores Asian approaches towards investment arbitration—a transnational procedure to resolve disputes between a foreign investor and a host state—setting it in the wider political economy and within domestic law contexts. It considers the extent to which significant states in Asia are, or could become, “rule makers” rather than “rule takers” regarding corruption and serious illegality in investor-state arbitration. Corruption and illegality in international investment are widely condemned in any society, but there remains a lack of consensus on the consequences, especially in investment arbitration. A core issue addressed is whether a foreign investor violating a host state’s law should be awarded protection of its investment, as per its contract with the host state and/or the applicable investment or trade agreement between the home state and the host state. Some suggest such protection would be unnecessary as the investor committed a crime in the host state, while others attempt to establish an equilibrium between the investor and the host state. Others claim to protect investment, invoking the sanctity of promises made. The book starts with a deep dive into economic and legal issues in corruption and investment arbitration and then explores the situation and issues in major countries in the region in detail. It is a useful reference point for lawyers, economists, investors, and government officials who are seeking comprehensive and up-to-date information on anti-bribery rules in Asian investment treaties. It is of particular interest to students and researchers in economics, finance, and law, who are undertaking new research relating to the multifaceted impacts of corruption.

International Arbitration Law Library Volume 59 The eastward shift in international dispute resolution has already involved initiatives not only to improve support for international commercial arbitration (ICA) and investor-state dispute settlement (ISDS) but also to develop alternatives such as international commercial courts and mediation. Focusing on these initiatives and their accompanying case law and trends in the Asia-Pacific region, this invaluable book challenges existing procedures and frameworks for cross-border dispute resolution in both commercial and treaty arbitration. Specially assembled for this project, an outstanding team of experienced and insightful arbitrators and scholars describes pertinent developments including: ICA and ISDS in the context of China’s Belt and Road Initiative; the Singapore Convention on Mediation; the shift to virtual hearings and other challenges from the COVID-19 pandemic; mistrust of the application of the rule of law in certain East Asian jurisdictions; growing public concern over ISDS arbitration; tensions between confidentiality and transparency; and potential regional harmonisation of the public policy exception to arbitral enforcement. The contributors chart evolving practices and high-profile cases to make informed observations about where changes are needed, as well as educated guesses about the chances of reforms being successful and the consequences if they are not. The main jurisdictions covered are China, Hong Kong, Japan, Malaysia, India, Australia and Singapore. The first in-depth study of recent trends in dispute resolution practice related to business in the Asia-Pacific region, the book’s practical analysis of new resources for dealing with the increasing competition among countries to become credible regional dispute resolution hubs will prove to be of great value to specialists in the international business law sector. Lawyers will be enabled to make informed decisions on which venue and dispute resolution methods are the most suitable for any specific dispute in the region, and policymakers will confidently assess emerging trends in international dispute resolution policy development and treaty-making.

Often derided for its asymmetry, this book shows how investors can be held to account in international investment law.

Corruption is one of the main obstacles to sustainable development and has a significant negative impact on a country’s productivity. In this book, which reproduces the transcribed presentations and lively discussions at the 2019 Annual Conference of the Swiss Arbitration Association (ASA), four panels including internationally known arbitration practitioners, criminal lawyers and accountants exchange views on the causes, costs, and impacts of corruption not only on society but also on the arbitral process and the arbitral profession. Among the many facets of corruption, the contributors address the following: legal framework of corruption and applicable law; cost of corruption from an economic perspective; jurisdiction and the arbitrability of issues of corruption; aspects of corruption that are specific to arbitration in specific business sectors; cases involving corrupt arbitrators, experts, and witnesses; establishing correctness or incorrectness of suspicion of corruption; bringing issues of corruption before the parties; and judicial scrutiny of corruption-tainted arbitral awards at the setting aside and enforcement stage. The authors, all of them prominent in representing the full range of business sectors active in international arbitration, provide matchless practical guidance in dealing with challenges associated with corruption in arbitration. Among much else, they deal with ‘red flags’ likely to indicate suspicious relationships, effective strategies to employ when confronted with a corruption-tainted contract and reporting suspicion of corruption and the related risk of personal liability. All of this invaluable material will be greatly appreciated by practising arbitrators, corporate counsel, arbitration institutions, and concerned academics.

The collected papers in ICCA Congress Series no. 11, as reflected in its title, address important contemporary questions in international commercial arbitration. Included are contributions written by participants in the UNCITRAL Working Group on Arbitration and Conciliation on its current work on the requirement of a written form for an arbitration agreement, interim measures of protection and UNCITRAL?s Model Law on International Commercial Conciliation. Further contributions give leading practitioners? views on illegality in the formation and performance of contracts or in the conduct of the arbitration, examining questions on how the arbitral tribunal should deal with these vexed issues and how forgery and fraud may be detected. The factors that lead to acceptance by parties of the decisions of arbitrators are dealt with in contributions on the psychological aspects of dispute resolution. The volume concludes with a series of articles on arbitration under investment treaties written by experienced arbitrators and practitioners, with special emphasis on ICSID and NAFTA and the emerging issues of transparency, accountability and review. Contains lengthy articles on the ongoing work of UNCITRAL on proposed amendments to the UNCITRAL Model Law on International Commercial Arbitration and the recently adopted Model Law on International Commercial Conciliation Details the current thinking on the requirement of an arbitration agreement in writing and how this can be accommodated by the UNCITRAL Model Law and the 1958 New York Convention Addresses the granting of interim measures by arbitral tribunals and their enforcement by national and foreign courts Analyzes issues raised by illegality in the formation and performance of contracts and in the conduct arbitrations and provides a systematic overview of the answers given by legislation, arbitrators and courts Provides insight into the attitudes of arbitrators and parties regarding dispute settlement processes Addresses the changing public perception of arbitration under investment treaties

Arbitration Under International Investment Agreements: A Guide to the Key Issues provides a comprehensive analysis of the main issues that arise in investor-state arbitration. The contributing authors take the reader through the intricacies of this procedure before analyzing the main jurisdictional and substantive issues that confront arbitrators. The book concludes with a reflection on the role of precedent in investment arbitration. A diverse group of renowned experts in the field provide comprehensive coverage, making Arbitration Under International Investment Agreements a valuable resource for anyone working in or studying this field of law.