Law Commons^™

The System Of Compensation In World Commerce Organization: Is It Particular To The Commerce Law Or To The Commerce Power?, Salaheddine Boudjellal

UAEU Law Journal

Compensation is one of the key features of the general rules of international responsibility as a means of reparation. But in the WTO law, this is characterized by specificity to make it much different from the traditional concept. This study is trying to uncover the concept of compensation in WTO law within the framework of the so-called complaints of the violation, as well as complaints of non-violation, as has been included in the Dispute Settlement Understanding under WTO law, revealing the specificity of this system against the general rules of international responsibility in accordance with the provisions of public international …

The Efficient Breach Theory In International Investment Law, Sangwani Patrick Ng’Ambi

Northwestern Journal of International Law & Business

When a State unilaterally abrogates its contractual obligations, it is under a duty to compensate the investor. The aim of the compensation regime under International Investment Law is to restore the investor to a position he or she would have been in had the breach not taken place. Thus, the award of compensation should not only include sunk costs (damnum emergens) but also lost future profits (lucrum cessans).

In this article it is argued that the rules relating to compensation promote efficiency, as per the ‘efficient breach theory’ because they dissuade governments from unilaterally abrogating concession agreements, unless they can …

Prejudgment Interest In International Arbitration, Jeffrey M. Colon, Michael S. Knoll

Jeffrey M. Colon

Tribunals in international arbitration are regularly asked by claimants to award prejudgment interest. Unless foreclosed by an agreement between the parties, there is widespread agreement prejudgment interest should put the claimant in the same position as it would have been had it not been injured by the respondent. However, there is little consensus how to calculate prejudgment interest in order to accomplish that purpose. In this Essay, we describe the proper method of calculating prejudgment interest based on sound financial principles. Using the paradigm that the respondent has forced the claimant to make an involuntary loan to the respondent, we …

Repsol, Ypf, And Argentina: A Hypothetical Look At The Pending Icsid Arbitration Over Ypf, Stephen Pelliccia

Stephen Pelliccia

In this paper I will discuss the 2012 expropriation of the Repsol subsidiary, YPF S.A., by the Argentine government and the upcoming ICSID arbitration on the legality thereof. Taking in to account basic tenets of international arbitration law, bilateral investment treaties, and ICSID jurisprudence, I will put forward some of the principal arguments of both parties could make and discuss a likely decision by the ICSID Tribunal. In addition to the ICSID award I will also discuss the difficulties of enforcing ICSID and other arbitral awards against Argentina and will discuss Latin American attitudes towards ICSID in general. Keeping in …

The Cathedral Rules As The Wto’S Remedy, Ashley H. Song Ms.

Ashley Song

Coase’s assumption of zero transaction cost is not realistic in the WTO; it bears substantive amount of transaction costs. Unlike Coase, Calabresi and Melamed, in their article of “Property Rules, Liability Rules, and Inalienability: One View of the Cathedral,” endogenously admit that transaction cost exists and utilize it for the application of a property and liability rule. I would like to apply the property, liability, and inalienability rules to the WTO– mainly, to the wrongful acts of the WTO members– and which remedy according to which rule can be effectual or reach the welfare maximization in Pareto Optimal.

Comments On The Reforms To The Mexican Energy Laws Of 2008, Antonio Riva Palacio Lavin

ILSA Journal of International & Comparative Law

A strong discussion has taken place in Mexico since the beginning of this millennium concerning the legal reform of the energy sector, particularly the Mexican government's oil company, Petr6leos Mexicanos (Pemex).

Prejudgment Interest In International Arbitration, Jeffrey M. Colon, Michael S. Knoll

All Faculty Scholarship

Tribunals in international arbitration are regularly asked by claimants to award prejudgment interest. Unless foreclosed by an agreement between the parties, there is widespread agreement prejudgment interest should put the claimant in the same position as it would have been had it not been injured by the respondent. However, there is little consensus how to calculate prejudgment interest in order to accomplish that purpose. In this Essay, we describe the proper method of calculating prejudgment interest based on sound financial principles. Using the paradigm that the respondent has forced the claimant to make an involuntary loan to the respondent, we …

The Politics Of Wto Enforcement Mechanism, Pao Li Chang

Research Collection School Of Economics

This paper attempts to develop a formal economic framework to analyze the influences of domestic political considerations by democratic governments in shaping the WTO enforcement outcomes following a violation ruling against the defendant. Since a different mix of import and export sectors in the defendant and complainant country will benefit from the various potential enforcement outcomes, they become competing forces which steer the strategic interactions between the disputing governments. The results of the paper illustrate the complainant's strategy in selecting the retaliation list, and the likelihood of the defendant's compliance or compensation in response to the proposed or foreseeable retaliation, …