Investment Law



This course will allow students to understand how private cross-border investments can be protected. When an investment is generated and executed in one state, it will normally be regulated by the legal system of that state. This is the case when an investor’s rights are jeopardised by measures imposed by the local administration, typically by means of expropriation, nationalisation, seizure of property or assets, and/or the enforcement of limitations on the rights of the investors. The situation becomes much more complex when an investment is international, i.e. when it originates in one state but is executed in another state (or in several other states). In such cases, not just one, but several legal systems become relevant, including the legal systems of the state hosting the investment, the investor’s home state, and third states. Moreover, international law, regional law, supranational law and/or transnational law may also become relevant. A judge, arbitrator or lawyer dealing with cases involving the violation of international investment rights, must know how to navigate through these different legal systems and understand the substantive implications.


The course will also introduce participants to dispute settlement with regard to foreign direct investment (FDI) and Multinational Enterprises (MNE). It will focuse on the relevant topics in arbitral proceedings, in particular investor-State arbitration (definitions and coverage of important agreements, arbitral institutions, questions relating to the establishment and functioning of investor-State arbitral tribunals), such as contained in bilateral investment treaties (BITs) and multilateral initiatives, such as NAFTA Chapter 11 of the OECD's project for a Multilateral Investment Agreement (MAI). Particular emphasis will be given to ICSID and the UNCITRAL Rules in the specific context of FDI. The course will include an overview of recent case law in the field.





Andreas R. Ziegler

Dr. Alberto Aronovitz



innovation.jpg International Business Law and Innovation

disputes.jpgInternational Business Disputes

Climate Change B&W.png Climate Change Law and Litigation



3 ECTS credits

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