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Triangular Treaties: The Nature And Limits Of Investment Treaty Rights, Anthea Roberts Prof

Harvard International Law Journal

Investment treaties are triangular treaties. Investment treaties are entered into by two states but they are unusual because they provide enforceable protections to investors as third party beneficiaries. State A (the host state) agrees to provide certain protections to investors coming from State B (the home state). If the investor considers that these protections have been violated, investment treaties also grant the investor permission to bring an arbitral claim directly against the host state.

Investment treaties clearly protect investors against certain unilateral actions by host states, such as expropriation without compensation. But do they also protect investors against unilateral actions …