Experienced lawyers and executives know that the challenge of international investment negotiation is not just “getting to yes,”1 but also staying there. Despite lengthy negotiations, skilled drafting, and strict enforcement mechanisms, parties to solemnly signed and sealed international investment contracts often find themselves returning to the bargaining table later on to “renegotiate” their agreements. The last half of the twentieth century witnessed numerous examples of renegotiation in international investment: the renegotiation of mineral and petroleum...
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