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Full-Text Articles in Law
Against Balancing: Revisiting The Use/Regulation Distinction To Reform Liability And Compensation Under Investment Treaties, Jonathan Bonnitcha, Emma Aisbett
Against Balancing: Revisiting The Use/Regulation Distinction To Reform Liability And Compensation Under Investment Treaties, Jonathan Bonnitcha, Emma Aisbett
Michigan Journal of International Law
Investment treaties generate mutual benefits for host states and foreign investors to the extent that they discipline opportunistic conduct by host states. Investment treaties do not necessarily generate mutual benefits insofar as they constrain states’ ability to respond to new information or to change their policy priorities. In a companion paper, we use the tools of law and economics to formalize and clarify the relationship between problems of opportunism on the one hand, and new information and shifts in policy priorities on the other. On this basis, we develop a proposal to reform the legal principles that govern liability and …
The Feasibility Of Debt-Equity Swaps In Russia, Thomas M. Reiter
The Feasibility Of Debt-Equity Swaps In Russia, Thomas M. Reiter
Michigan Journal of International Law
This Note examines the origins, development, and mechanics of debt-equity swap programs in Latin America before discussing the various goals and policy considerations involved in formulating debt-equity swap programs. Next, the Note describes Russia's debt situation and sketches the outlines of a debt-equity swap program that will reduce Russia's foreign debt while stimulating foreign direct investment.
Drafting Dispute Resolution Clauses For Western Investment And Joint Ventures In Eastern Europe, Mary Theresa Kaloupek
Drafting Dispute Resolution Clauses For Western Investment And Joint Ventures In Eastern Europe, Mary Theresa Kaloupek
Michigan Journal of International Law
This Note discusses issues the practitioner should consider in drafting a dispute resolution provision for a client investing in one of the newly democratizing countries. Part I will discuss arbitration law in Eastern Europe; the dispute resolution provisions in the various foreign investment laws; the applicable national law; and each nation's enforcement procedures for arbitral awards issued in other nations. Part II reviews the dispute resolution provisions in various bilateral and multilateral treaties relating to foreign investment including the Convention on the Settlement of Investment Disputes (ICSID Convention) and the informal agreements between the American Arbitration Association (AAA) and the …
Negotiating Investment In The Gatt: A Call For Functionalism, Paul Bryan Christy Iii
Negotiating Investment In The Gatt: A Call For Functionalism, Paul Bryan Christy Iii
Michigan Journal of International Law
In part, this article is about the conflict between literalism and functionalism in the GATT. It examines an attempt in the Uruguay Round to negotiate rules on foreign direct investment - the so-called trade-related investment measures (TRIMs) negotiations. Foreign direct investment is often a stage in the internationalization of enterprises; it is helpful to the trade of goods producers and necessary to the trade of many services providers. Affected by the output-oriented history of the GATT, however, the Contracting Parties have treated investment as though it were simply one of three legs of an economic triangle: goods, services, investment. In …
Joint Ventures And The Law Of International Claims, Richard B. Lillich
Joint Ventures And The Law Of International Claims, Richard B. Lillich
Michigan Journal of International Law
Joint ventures are one of the most remarkable post-World War II international business developments. Although the late Professor Friedmann noted in 1971 that they were becoming "the most important form of foreign investment in the developing countries of Africa, Asia and Latin America," "only within the last two decades has the joint capital venture received more than scant attention." Now, whether one is interested in establishing a "minority joint venture," in which the foreign investor holds less than fifty percent of the equity in the joint enterprise and the host country the majority interest, or a "multipartite joint venture," in …