The arbitral tribunal of Prof. Piero Bernardini (President), Mr. Gary Born, Judge Prof. James Crawford in Philip Morris v. Oriental Republic of Uruguay (ICSID Case No. Arb/10/7) has finally ruled on merits, dismissing the claims presented by Philip Morris (“PM”) and awarding costs to the tune of US$ 7 million to Uruguay. This award will have huge implications on the tobacco industry and countries like India who are seeking to regulate tobacco consumption through plain packaging measures as it was reportedly the first time a tobacco group had taken on a country for its anti-tobacco laws. Many are characterising Uruguay’s victory as something that will change the world. In this post, I will only focus on the claim of expropriation and the other claims of denial of justice, fair and equitable treatment and impairment of use and enjoyment of investments will be discussed in subsequent posts. Read More »
By Horia Ciurtin*
(Legal) Multipolarity Revisited: What Lies Beyond Westphalia?
This brief introduction to such an ambitious thematic must undoubtedly commence by positing its adherence to the (non-legal) core concept of ‘grand strategy’ and its realist avatars in international economic law. More precisely, it shall be argued that – at a certain level – the normative sphere is instrumentalised by competing nomothetic actors in order to enhance their power position and joint economic security, in a troubled multipolar world.Read More »
By Sarthak Malhotra
A key area of exposition both in Public International Law and Investment Arbitration is what constitutes an ‘act of state’.( ‘State Responsibility and Attribution’ in Schreuer,. and Dolzer, Principles of international investment law (2008), 195-205) The Draft Articles on State Responsibility has been a ground-breaking work in codifying the rules of attribution of responsibility to the states. A related issue in this regard is the attribution of liability to a State in cases of breach of its treaty obligations by its political sub-divisions.Read More »