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Full-Text Articles in Law
Treaty-Protected Investment Agreements: Of Umbrella Clauses And Privity Of Contract, Raul Henrique Pereira De Souza Fleury
Treaty-Protected Investment Agreements: Of Umbrella Clauses And Privity Of Contract, Raul Henrique Pereira De Souza Fleury
Raul Henrique Pereira de Souza Fleury
Seemingly the most controversial standard present in investment treaties, the umbrella clause have been stressing parties and arbitrators since 2003 when the issue of its scope was brought up in SGS v. Pakistan. Through the umbrella clause investors have sought to elevate breaches arising out of instruments other than the investment treaty itself, such as contracts and legislations. However, the umbrella clause has another feature. Investors have also relied on the umbrella clause to pursue, under the investment treaty, contractual claims with sub-state entities or, to pursue their subsidiaries’ contractual claims with the State. Also, investors have relied on the …
Hardship: A Remedy For Changed Circumstances In International Commercial Contracts, Raul Henrique Pereira De Souza Fleury
Hardship: A Remedy For Changed Circumstances In International Commercial Contracts, Raul Henrique Pereira De Souza Fleury
Raul Henrique Pereira de Souza Fleury
Long-term commercial transactions can transform into an agreement far different than the anticipated by the parties due to unforeseeable circumstances. In the international field such possibility is greater. This places a hard burden to business persons around the globe, since their mutual purpose is to see their business transaction achieve its goal. In trying to assess and manage the potential negative effects of changed circumstances, international business practice had developed the hardship clause. This article focus on the historical origin and development of the hardship clause, its requirements, the adoption of similar remedies by domestic legislation, and how it has …