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ดุลพาห

The Commission identified a number of key points areas or “core
issues” to develop. These are : (a) the protection of the right to regulate,

(b) the supervision and functioning of arbitral tribunals, (c) the relationship

between ISDS arbitration and domestic remedies, (d) review of ISDS decisions
24
for legal correctness through an appellate mechanism.

On 5 May 2015, the European Commission subsequently published a
concept paper on “Investment in the TTIP and beyond – the path for reform”
25
(“Concept Paper”) proposing that the EU “pursue the creation of one
26
permanent court.” The Concept Paper suggests for the first time that the
EU should work towards establishing an international investment court and
an appellate body with tenured judges to replace the ad hoc arbitration
system in the multilateral investment trade agreement between the EU and

the United States.

(2) EU Parliament Action

In July 2015, the European Parliament passed a resolution
recommending the Commission

“[t]o replace the ISDS system with a new system for
resolving disputes between investors and states which

is subject to democratic principles and scrutiny, where
potential cases are treated in a transparent manner by

publicly appointed, independent professional judges
in public hearings and which includes an appellate

mechanism, where consistency of judicial decisions is
ensure, the jurisdiction of courts of the EU and of the

24. Supra, 23.
25. European Commission, Concept paper: Investment in TTIP and Beyond – the Path for Reform,
(“Concept Paper”), 5 May 2015.
26. Id. page 11.

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