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Part II The International Law Framework of Investment Protection and Political Risk, Ch.5 History and Development of the Customary International Law of Expropriation and Investment Protection

From: International Investment, Political Risk, and Dispute Resolution: A Practitioner's Guide

N. Stephan Kinsella, Noah D. Rubins

From: Investment Claims (http://oxia.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved. date: 02 July 2022

Customary international law — Compensation — Expropriation — Creeping expropriation — National treatment — BITs (Bilateral Investment Treaties)

This chapter discusses the principles of customary international law related to expropriation. Included is an overview of the historical development of the international law of expropriation, as developed in international arbitration decisions, commentators, treaties, and state practice. The current state of the customary international law of expropriation is also discussed, including the various substantive protections established in customary and conventional international law, such as the ‘full compensation’ valuation standard for expropriation, the public purpose requirement, and the prohibition against discrimination. Other topics covered include indirect and creeping expropriation, national treatment and the international minimum standard, and breach of contract as a form of expropriation.

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