32 research outputs found

    We Need to Talk About Valuation in ISDS

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    Quantum (in)justice: rethinking the calculation of compensation and damages in ISDS

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    The present article seeks to critically rethink the key issue of how compensation and damages are and should be calculated in the context of investor-State arbitration – the ‘quantum’ question, as is commonly referred to in arbitral practice. We will make three main claims: first that such calculations are premised on a fundamental consensus that presents the work of arbitrators in this area as essentially uncontroversial fact-finding operations and has led to an inflation of awards, second that this consensus is in reality built on a series of myths and unjustifiable assumptions, and third that the realization that this is so should lay the ground for more acceptable calculations

    The autonomy of international arbitration revisited

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    This Editorial seeks to describe how international arbitral practice, and its various claims to autonomy, have been shaped by competing visions, whose influence varies depending on changing environments, in ways that ultimately determine the field’s development and driving preoccupations. The concept of autonomy is omnipresent in arbitration scholarship and touted as central to the field’s existence. Common accounts tend however to only emphasise the degree to which international arbitration evolves freely from State control. In so doing, they pass over the specific and evolving visions that support claims to autonomy from national legal systems, as well as how such claims serve to re-embed arbitral practice in alternative non-State normativities. Two such competing visions will be identified: the first, more prevalent in an earlier period, presented autonomy as the reflection of a distinct sociological reality (that specific to commercial actors engaged in cross-border trade); the second, more popular today, largely understands autonomy as a function of self-sustaining legal principles that are not specific to international arbitration, but the expression of globally extensive and universally valid ideas of justice

    Insider trading and economic transplants: the Lafonta case

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    Anthea Roberts, Is International Law International?

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    Between integration and the rule of law: EU law’s culture of lawful messianism

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    The present article seeks to identify the particular culture that undergirds the practice of EU law, by drawing from Paul Kahn’s Cultural Analysis of Law. It will do so by extracting from his work certain models for understanding the imaginative life of a political community, most importantly those of the rule of law and of political action, which in Kahn’s observation of American realities stand in competition to one another. This will lead us, first, to consider the particular place held by European integration, as a messianic project of collective transformation. While this might seem to structure the practice of EU law in a way that is consistent with Kahn’s description of political action, such a view, we will then submit, does not consider the particular place of law in the EU’s legal culture, as the very substance in which the European order appears incarnated, and which provides the impetus for much of its development. To account for these two dimensions in the political imaginary of the EU, it is argued that, unlike Kahn’s description of the American context, the rule of law and political action do not stand in tension with one another. Instead, the practice of EU law operates under an idiosyncratic frame of experience, which can be usefully associated to Robert Cover’s notion of “lawful messianism,” and which synthesizes key aspects of Kahn’s account of the rule of law and political action. Finally, to illustrate the operation of just that culture of lawful messianism and its persistence to this day, the article turns to the place of the rule of law as a “foundational value” of the European legal system and recent developments around this particular norm of EU law
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