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International Investment Law and Arbitration
Ursula Kriebaum August 3 – August 14 4 ECTS credits

The legal environment for international foreign investment has changed
dramatically since the end of the Cold War. International investment dispute
resolution, in particular through international arbitration has become increasingly
common. Foreign investors are much more willing to pursue claims against host
states than their home states (e.g. for alleged expropriation or unfair treatment).
This course will focus on international investment disputes and their reso-
lution through arbitration and is attractive to students interested in public
international law and international arbitration. The course will address the
dispute settlement mechanism as well as the substantive standards of in- U. Kriebaum
vestment protection. Teaching will vary between interactive lectures en-
couraging student participation, traditional lectures and case studies.
Student presentations are required.
The following topics will be covered:
1. Introduction
• The conflicting interests of the host state and the investor
• Historical development of international investment protection
2. The Sources of International Investment Law
3. The Concept of Investment (Who is an Investor? What is an Investment?)
4. Standards of Treatment
• Fair and equitable treatment
• Full protection and security
• The Umbrella Clause
• Access to justice, denial of justice, fair trial
• National treatment
• Arbitrary and discriminatory
• Most favored nation clause
5. Expropriation
6. State Responsibility and Attribution
• Attribution
• Responsibility for illegal acts
• Necessity
7. Dispute Settlement, ICSID
• Methods of dispute settlement
• Treaty arbitration
• Jurisdiction
• Applicable law
• Annulment
• Enforcement of Awards
Requirements: Regular attendance and participation in class discussion as
well as a presentation (40%) and a final exam (60%).

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