Some argue that the investor-State arbitration system is mainly aimed at promoting foreign investment and protecting foreign investors from the unreasonable exercise of power of the State. In fact, most bilateral investment treaties appear to confer few -if any- obligations upon investors. Criticism of this apparent asymmetry has recently come to the fore, further exacerbating the legitimacy crisis of the investor-State arbitration system. Despite an increasing number of counterclaims brought by States against investors in recent years, most of them have failed, and many at the jurisdictional stage.

The main hurdle to such counterclaims has been the terms of the underlying investment treaty, not the terms of the relevant applicable rules (e.g. ICSID Convention or UNCITRAL Rules) which allow for such counterclaims. We will explore recent decisions on this issue which -at a time where many bilateral and multilateral investment treaties are being negotiated or renegotiated,- has great potential as an element that may help reshape the system's perceived substantive asymmetry and increase procedural efficiency. We will also identify opportunities and challenges for the way ahead.

For registration, please email your details to events@klrca.org

Admission is free.