STRIKING CONSISTENCY AND PREDICTABILITY IN INTERNATIONAL INVESTMENT LAW FROM THE PERSPECTIVE OF DEVELOPING COUNTRIES

The fragmentation of international investment law into bilateral investment treaties (BITs) and other international investment agreements (IIAs) made it impossible as a system of law. In addition, the potential for inconsistent and conflicting decisions (especially against developing countries) in investment treaty arbitrations are abundant. The causes of this situation are two-fold and concern both substantive law and procedural law. Concerning the substance, the fragmentation of sources of international investment law plays a significant role in disaggregating coherence. Due to the large number of BITs, a state measure might be assessed differently under the two existing investment treaties, with each treaty specifying different standards of investment protection, even varying with the nationality of the investor affected. Inconsistent decisions can also result from the possibility of having multiple proceedings, in the same or different form, relating to an identical set of facts that can arise from independent claims. For developing countries, who face investment law disputes more frequently than developed countries, an ideal solution would be a global investment treaty or a plurilateral investment agreement under the World Trade Organization (WTO) and use its dispute settlement system to resolve investment disputes.     

论对发展中国家参与投资条约仲裁的援助

近年来,发展中国家签署的双边投资条约在为其营造稳定、透明投资环境的同时,为投资者利用条约仲裁条款挑战东道国政府提供了创新性的争议解决模式。很多发展中国家缺乏参与投资条约仲裁的经验,并且没有能力支付雇用外部律师的昂贵费用,投资条约仲裁的合法性受到威胁。投资条约仲裁法律援助中心的建立,可以为发展中国家获取法律权威资料和法律专门人才提供便利,以使其能有效地应对投资条约争议的申请。     

Public‐Private Arbitration and the Public Interest under English Law

Together with the increase in the number of public‐private contracts, recent years have seen a marked proliferation in public‐private arbitrations. This article explores the public interest implications which may arise in such arbitrations and examines how public‐private arbitration is treated under English law. We argue that, due to the lack of a developed administrative law sphere in England and the historical development of arbitration as an exclusively private mode of dispute resolution, the current legal framework of arbitration in England has developed around the private law paradigm of a commercial dispute involving private actors. This private law paradigm results in a conceptual and legal void in respect of how public interest is accounted for, and protected, in arbitrations involving public bodies under English law. Therefore, we suggest that English arbitration law needs to be amended to adequately protect the private interest in public‐private arbitration.     

Difficulties Confronted by ICSID Tribunals in Deciding International Investment Corruption Cases and Possible Solutions

The issue of corruption has attracted increasing attention in the study and practice of international investment law during recent years. After taking prudent consideration of the corruption defense invoked by the host states in some international investment arbitration cases involved with corruption, International Center for Settlement of Investment Disputes (ICSID) tribunals accordingly determined the final awards. However, some parts of the arbitral jurisprudence aroused strong criticism, especially with regard to the ICSID tribunals’ reasoning that arbitrators have no jurisdiction over corruption-tainted international investments. The ICSID tribunals are legitimately supposed to exercise their jurisdiction and are lawfully obliged to probe into the nature of corrupt activities. The tribunals are strongly expected to adopt a balanced approach in deciding the merits and fairly weighing the obligations, rights, and interests of both disputing parties. It is preferable to strengthen the collaborative interaction between ICSID proceedings and domestic anti-corruption enforcement mechanisms when it comes to combating corrupt international investment activities. Existing international treaties (or specific treaty provisions) on combating corruption in international business transactions and calling for international cooperation, alongside domestic anti-corruption enforcement legislation, have actually laid solid legal foundations for the establishment of such an anti-corruption coordinative mechanism between ICSID and domestic corruption regulatory authorities on the global level.     

论国际投资仲裁中非投资国际义务的适用进路

国际投资仲裁案件中已涉及到国家在环境、人类自然与文化遗产保护和人权等方面以维护公共利益为目的的非投资国际义务。如何在国际投资仲裁中适用这些国际义务,协调、解决它们与国家投资条约义务间的冲突,有两种进路:一是适用有关国际法规则;二是适用国际投资仲裁实践中逐渐出现的规则。通过这两种进路,可以使维护公共利益的非投资国际义务在国际仲裁中得以合理地适用,实现维护外国投资者财产权益与公共利益间的适当平衡。     

论国际投资条约仲裁的正当性缺失及其矫正

随着投资条约仲裁案件不断攀升,国际投资法以及投资条约仲裁凸显其重要性。但由于投资争议的特殊性、有关实体法的模糊或缺失、程序法的缺陷,出现了投资条约仲裁的正当性危机。实际上危机一说有夸张之嫌。经过制度化的改良,如通过增强仲裁程序透明度、允许法庭之友参与仲裁程序、合并审理、遵循先例、加强投资条约仲裁的公共功能等,投资条约仲裁制度的正当性缺失可在相当程度上得以矫正。同时,在国际投资实践中还应该细化投资条约的核心内容、限制管理国家风险、推动ADR和DPPs,以有效地防止争议发生和降低争议解决成本。     

亚太经济一体化背景下跨境破产的区域合作

《区域全面经济伙伴关系协定》的签署进一步推动亚太地区投资与贸易的自由化,跨境破产案件将逐渐增多,鉴于各国跨境破产国内立法发展不平衡的状况,形成区域合作多边机制是破解难题的有效路径。亚太自贸区跨境破产区域合作注重与国际规则对接的同时,应兼顾成员国法律传统与司法制度的特点,在区域内构建以承认与协助主要破产程序为中心的司法协助制度,厘清与界定外国破产程序和破产判决概念,明确主要破产程序的效力与管辖权确定标准,统一承认与协助外国破产程序的审查规则与程序规则,保证区域内跨境破产司法协助的确定性与可预见性。认同平行破产程序在现阶段解决跨境破产争议的合理性,在区域内推进形成主从程序协调机制。建立法院间交流与合作机制,促进跨境破产案件在区域内的高效审理。     

The Future of International Investment Regulation: Towards a World Investment Organisation?

With growth in foreign investment and in the number of companies investing in foreign countries, the application of general principles of public international law has not been deemed adequate to regulate foreign investment and there is, as yet, no comprehensive international treaty on the regulation of foreign investment. Consequently, states have resorted to bilateral investment treaties (BITs), regional trade and international investment agreements (IIAs) and free trade agreements to supplement and complement the regime of protection for foreign investors. In the absence of an international investment court, states hosting foreign investment or investor states have opted for investor-state dispute settlement mechanism (ISDS). This mechanism has brought about its own challenges to the international law of foreign investment due to inconsistency in the application and interpretation of the key principles of international investment law by such arbitration tribunals, and further, there is no appellate mechanism to bring about some cohesion and consistency in jurisprudence. Therefore, there are various proposals mooted by scholars to address these challenges and they range from tweaks to BITs and IIAs, the creation of an appellate mechanism and the negotiation of a multilateral treaty to proposals for reform of ISDS only. After assessing the merits and demerits of such proposals, this study goes further, arguing for the creation of a World Investment Organisation with a standing mechanism for settlement of investment disputes in order to ensure legal certainty, predictability and the promotion of the flow of foreign investment in a sustainable and responsible manner.

     

Constitutional Review in the Mega‐Leviathan: A Democratic Foundation for the European Court of Justice

The European Court of Justice (ECJ) serves, among other things, as a constitutional court for the EU. This means that it possesses the legal right to strike down both EU and national laws it deems irreconcilable with treaty provisions. In the present article, we shall draw on Hans Kelsen's theory of democracy to argue that the ECJ's competence to review and invalidate legislation is, in fact, indispensable for the democratic legitimacy of the EU's legal system as a whole.     

中国企业赴美并购的法律风险及其防范对策

中国企业在赴美并购过程中总存在着各种各样的法律风险。中国国有企业赴美并购时应高度重视美国的国家安全审查机制,清晰地突出国有企业的商事主体性质。而美国外资委员会引入听证会程序,应充分听取中国投资者的意见,放弃投资保护主义。中国企业要熟悉美国的公司并购规则与治理规则,明确目标公司选择符合本公司及其股东利益最大化的收购要约而并非现金出价最多的要约,是美国公司并购的常态。中美双方加快双边投资保护协定的谈判进程,就企业的国有化条款而言,应采取充分的市场化补偿标准。我国政府鼓励企业赴美并购,可将核准制改为备案制。要加快建立健全海外投资纠纷的仲裁机制,提高我国仲裁机构的国际竞争力。     

论波兰民事诉讼中证据程序的特点

作为欧洲国家,波兰法律传统虽传承自罗马法系,但其民事诉讼中的证据制度经过岁月演变,在不断的整合中呈现出自己的特点。本文主要介绍了波兰民事证据程序的特点,体现在证据内容。证明主体,证明责任,推定,证据的提出、接受和评估,以及证明方法,上诉程序中对证据等方面。     

论国际投资仲裁中投资者利益与公共利益的平衡

晚近,在与公共利益有关的国际投资仲裁中出现了片面保护投资者财产利益而严重忽视东道国公共利益的倾向。可以通过在投资条约中规定一定的公共利益保护内容并建立权威的条约解释机制、在仲裁中引入国家自由裁量权理论、＂兼采效果和性质标准＂认定东道国措施是否构成间接征收以及增加仲裁程序透明度等措施,实现保护投资者财产利益与维护东道国公共利益在国际投资仲裁中的适当平衡。     

全球治理视野下国际投资法治的困境与变革

国际投资是全球经济增长的重要引擎。国际投资法治建设亟待加强,以促进国际投资自由化便利化、构建公正合理的国际投资秩序、推动全人类的共同繁荣和可持续发展。当前,国际投资法治建设以双边和区域安排为主导,缺乏多边统筹,不成体系,导致投资法治的功能缺失,滞约了国际投资发展。与此同时,国际投资格局发生深刻变化,投资条约内容的趋同和共商共建共享的全球治理理念的创新为国际投资法治建设提供了良好契机。为此,我们应创新国际投资法治变革的路径,以多边投资实体规则为国际投资法治建设的主要内容,推动国际投资法治的变革。     

投资条约仲裁制度改革的中国选择

投资条约仲裁制度有利于投资者保护,但其也存在易于导致东道国与投资者权益保护失衡等问题。中国应顺应国际上的改革大势和潮流,从实体规则和程序规则两个方面对投资条约仲裁制度进行改革,采取包括维护东道国的管理权、缩减仲裁庭自由解释条约的空间以及加强缔约国对条约解释的控制权等措施,以确保其能平衡保护投资者与东道国的权益。欧盟倡导的投资法院制度虽然对争端当事人的意思自治有一定的限制,但是能纠正投资条约仲裁制度的某些重要缺陷,中国可考虑在与欧盟的双边投资协定谈判中探索接受并改进这一制度的可能性。     

Bilateral Investment Treaties,Credible Commitment,and the Rule of (International) Law: Do BITs Promote Foreign Direct Investment?

A long line of research, beginning with Macaulay's (1963) well‐known study of “Non‐Contractual Relations in Business,” suggests that the formal trappings of domestic law often have effects on private behavior that are, at best, “indirect, subtle, and ambiguous” ( Macaulay 1984 :155). Law and society scholars have spent somewhat less time exploring whether international law's effects on behavior are similarly attenuated. In this article I examine whether foreign investors take the presence of strong formal international legal protections into account when deciding where to invest. I focus on whether the presence of bilateral investment treaties, or BITs, meaningfully influences investment decisions. I present results from a statistical analysis that examines whether the formally strongest BITs—those that guarantee investors access to international arbitration to enforce investors' international legal rights—are associated with greater investment flows. I find no clear link between treaty protections and investment, a finding consistent with past law and society research but in tension with claims common in the BIT literature that the treaties should have dramatic effects on investor behavior.     

国际投资仲裁中的精神损害赔偿——以ICSID“沙漠道路工程公司诉也门”仲裁案为分析对象

解决投资争端国际中心在沙漠道路工程公司诉也门案中,首次明确肯定了东道国因违反双边投资协定,应当向投资者承担精神损害的赔偿责任。根据案件的实际情况,该裁决具有一定的合理性。但是,在仲裁庭的管辖权、精神损害赔偿责任的构成要件,以及东道国赔偿责任的法理基础这些关键问题上,ICSID仲裁庭的分析和说理存在较大缺陷,从而削弱了该案裁决的正当性和影响力。     

Communication in family court: financial remedy proceedings from the perspective of litigants in person

The article presents a rationale for communicative, conceptual, cognitive and procedural challenges experienced by litigants in person in financial remedy proceedings. The article also explores oscillation between written and spoken legal genres and narrative development strategies which litigants in person have to use throughout different stages (from the early stages of starting proceedings, filling in court forms and providing documentation, through the negotiation process to interaction in court). While legal professionals express themselves in paradigmatic legal mode influenced by legal acts and legislation, litigants in person tend to express themselves in narrative mode similar to everyday storytelling. The objective is to investigate obstacles litigants in person experience during the process originally designed by legal professionals for legal professionals. The article evaluates different options for empowering lay people involved in legal proceedings and argues for the need to provide more specific support for different stages of family proceedings.     

条约制度的建立对传统法律变迁的影响——以地政管理制度为例

近代国门大开之后,中国融入国家交往的条约制度之中。通过双方的谈判与协商,确定各自享有的权利与承担的义务是条约制度的基本原则。谈判与协商这种互动的活动使得双方的法律意识与原则彼此产生影响。由于处于战败国的弱势地位,中国所签订的条约为不平等条约,中国方面更多地接受外来的影响。随着这些影响的日益加深,西方法律原则与制度大量地引入传统社会,法律制度开始向近代转化。条约制度的建立与传统社会法律变迁有着密切的关系。地政管理制度是这种关系的最好说明。     

‘Playing the Judicial Card’: Litigation Strategies during the Process of Ratification of the Lisbon Treaty

During the process of ratification of the Lisbon Treaty, a number of constitutional jurisdictions were activated by political actors. In playing ‘the judicial card’, opponents of ratification decided to seek political goals through judicial means, and thus they were obliged to develop litigation strategies. This article explores such strategies and the responses that courts gave them. It shows that constitutional proceedings with regards to the Lisbon Treaty became a political battleground governed by legal logics, in which the interpretation of European clauses, the democratic deficit of the Union and the tensions underlying the European judicial dialogue were privileged objects of discussion between claimants and courts in which law and politics intertwined.     

条约冲突的基本问题及其解决方法

条约冲突一方面表明了当代国际法旺盛的生命力,另一方面也会对国际法的进一步发展产生消极影响,因此研究条约冲突及其解决对国际法治建设有着积极意义。条约冲突的产生与国际法不成体系有着密切的因果联系。在各种类型的冲突中,有的可以采用诸如特别法优先原则来处理,有的可以通过条约解释规则加以消弭,有的则可以设置明确的冲突条款来避免。国际法的不成体系,使得解决条约冲突的方法也可能是不成体系的。综合运用各种冲突解决方法,是国际法对解决条约冲突的必然要求。