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Human Rights in International Investment Law and Arbitration$
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Pierre-Marie Dupuy, Ernst-Ulrich Petersmann, and Francesco Francioni

Print publication date: 2009

Print ISBN-13: 9780199578184

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199578184.001.0001

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Limits of Commercial Investor-State Arbitration: The Need for Appellate Review

Limits of Commercial Investor-State Arbitration: The Need for Appellate Review

(p.115) 6 Limits of Commercial Investor-State Arbitration: The Need for Appellate Review
Human Rights in International Investment Law and Arbitration

Jacques Werner

Oxford University Press

This chapter explains why investor-state arbitration is often wrongfully likened to international commercial arbitration among private parties. Investor-state arbitrations involve not only private business interests but also public policies of the host state and citizen rights. Arbitral awards on investor-state disputes risk lacking credibility and democratic acceptability if they overrule, in non-transparent proceedings, democratically legitimate government decisions on grounds of investor-state contracts. Similar to the introduction of appellate review in the GATT/WTO dispute settlement system, the transparency, legitimacy, and legal coherence of investor-state arbitration could be enhanced by introduction of an appellate instance.

Keywords:   investor-state arbitration, international commercial arbitration, private business interests, public policies, citizen rights, democratic acceptability, non-transparent proceedings, GATT, WHO, dispute settlement system

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