Part II The International Law Framework of Investment Protection and Political Risk, Ch.4 State Responsibility and Remedies Under Customary International Law

Subject(s):

Responsibility of states — Customary international law — Sovereignty — Relationship of international law & host state law — Exhaustion of local remedies — Remedies and costs — Investor — Nationality of investor — Immunity from jurisdiction, states

Chapter 4 covers the general background customary international law pertaining to state responsibility, in particular state responsibility incurred in relation to foreign investment, as well as the general nature and types of remedies available to investors when a state expropriates an investor’s property or interferes with its investment. This chapter discusses customary international law on a variety of issues, including whether and how a sovereign state can restrict its future actions; state promises in investor-state contracts; “internationalization” of investor-state contracts; state responsibility; exhaustion of local remedies; nationality of claims; sovereign immunity and exceptions thereto; and the Act of State Doctrine.