Charakteristika uskupení NAFTA. Popis vztahů a jednotlivých sporů mezi členskými zeměmi. Rozbor veřejného mínění. Dopad na Kanadu a přístup Kanady ke uskupení NAFTA

I Summary Master's thesis "Damages in Investment Disputes" concentrates on some of the current and controversial questions in this field. The aim of the thesis is to set light to the system of investment disputes and to elaborate on burning questions that arise within its scope. This concerns namely questions about its status under international law as such, but also questions connected to the nature of investment disputes which concern one private party and one sovereign party. Moreover, the aim of this thesis is to present an overview of the law of damages that forms the key remedy sought by investors. This concerns questions about the forms of remedies available as well as limitation of the amount of damages due to legal or factual reasons. It deliberately leaves out discussion on methods of calculation of damages as this discussion, even though important for assessment of final amount of damages for a particular investor, is not essential for the functioning of the system of international foreign investment law. In the first part (Chapters 1 - 4), this thesis concerns itself with the functioning of the system of investment disputes and analyses its historical as well as current context. After setting the system into its context, it presents (shortened) analysis of the nature of this dispute settlement...

In 2014 Russia took control over Crimea, and significant numbers of Ukrainian investors pursued investment claims against Russia regarding investments in Crimea made prior to the annexation.Thus, a fundamental concern is the applicability of the Ukraine-Russia BIT to such investments.The BIT empowers Ukrainian investors to initiate arbitration for compensation if Russia expropriates any Ukrainian investments on its territory. In order for the investors’ capital in Crimea to qualify as “investments” under the BIT, the tribunals had to determine whether Crimea constituted a part of the Russian “territory”. Even though Crimea was de facto controlled byRussia, de jure the Russian sovereignty over it had been questioned. As of time of the Thesis at least 10 cases were initiated and in seven of which decisions on responsibility and compensation were made. Investors are now enforcing the decisions in different jurisdictions facing jurisdictional challenges from Russia`s side. In 2019, Russia changed the strategy deciding to actively participate in the cases, which may play a decisive role on further developments of the disputes. The paper will examine whether investment tribunals in the Crimean cases have authority to hear them and the award to stand during set-aside/enforcement proceedings from the perspective of different enforcing jurisdictions, as well various litigation tactics and strategies presented by Russia.

1 Abstract This thesis aims to transparently elaborate the topic of damages in investment disputes. Chapter One is a brief introduction to the problem. It provides a short clarification of the concept and meaning of arbitration and its importance for the protection of investors; it also describes the principles of modern forms of investor protection. The end of the first Chapter includes a short introduction regarding the sources on damages in investment arbitration. Chapter Two deals with the issue of valuation. At the beginning the author approaches the issue in general, describing the basic terminology and definitions and providing the classification of the valuation methodology (Market-Based Approache, Income- Based Approach, Asset-Based Approach). This is followed by outlining the issues related to the term "market value", when the author focuses on the questions related to the calculation of fair market value, its use in practice, issues related to this use, etc. The next is the theme of damage arising from the breach of a contract and by describing the ways of valuation of the damage arising from the breach of a contract. The Chapter also includes the study regarding the issue of the determination of damages in the absence of the market, and analyses the issue of the moment as at which the valuation...

伴隨著全球化潮流的來臨，國際直接投資金額大幅成長，相對的，投資爭端案件亦持續增加，國際投資人於是迫切期待一個有效而公平之國際投資爭端解決機制。台灣經過多年經濟發展，已成為全球重要對外投資國家，惟根據調查，台灣廠商發生投資爭端，並不擅於利用國際仲裁維護其本身權益。據此，本論文乃針對國際投資協定有關投資人與地主國爭端解決法制加以研析，並希望能對我政府對外談判及廠商對外投資提供具體實用之對策，惟國際間對於投資人與地主國爭端解決機制研究面向相當廣泛，本文研究主軸則以世界銀行於1965年成立之國際解決投資爭端中心(ICSID)之管轄權為中心。 本論文先自投資人與地主國爭端解決機制之發展背景介紹起，並論述1966年生效的ICSID公約主要條款與其他國際投資協定的關係，其後則進一步從ICSID管轄權角度切入，對ICSID對人(ratione personae)及對物(ratione materiae)管轄權相關法律問題逐一說明，並輔以個案加以研析之。 經過上述分析後，本文繼而對現行投資人與地主國投資爭端解決機制提出評論，在制度面方面，本文對ICSID未來運作提出放寬對物管轄範圍、檢討投資未予定義之作法、雙重國籍認定及外國控制的程度與形式等四項改革建議。此外，本文亦針對ICSID管轄權與BITs最惠國待遇條款問題、BITs不同的爭端解決機制所引發程序衝突問題，以及仲裁判斷衝突(conflicting award)問題，說明ICSID公約與BIT所產生之一些法律問題。在未來展望方面，則分析在多邊投資架構是否為解決現階段投資人與地主國爭端解決機制之新契機，以及WTO納入投資人與地主國爭端解決條款之可能性分析，本文末並對我國政府與廠商現階段利用ICSID機制提出建議。 / While the inexorable trend towards globalization has caused international direct investment to grow dramatically, it has also led to a steady increase in the number of investment disputes. International investors therefore eagerly look forward to the institution of an effective and impartial international investment dispute resolution mechanism. Although Taiwan, through its many years of economic development, has become a major source of foreign investment, surveys show that Taiwan firms are not good at using international arbitration to protect their rights and interests in investment disputes. This study accordingly analyzes the investor-State dispute settlement provisions in international investment agreements(IIAs) in an effort to provide concrete, practical strategies for the government of Taiwan in international negotiations and for Taiwanese firms in their foreign investment. Since there is already extensive research literature addressing investor-State dispute settlement mechanisms, this study focuses on the jurisdiction of the International Center for Settlement of Investment Dispute(ICSID) under the aegis of the World Bank in 1965. This study first introduces investor-State dispute settlement mechanisms and their development. Next, the study discusses the main provisions of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention) came into force on 1966 and its relationship to other IIAs. The study then explains the various legal issues connected with ICSID’s jurisdiction ratione personae and ratione materiae, and finally, analyzes specific cases. The results of the aforementioned analysis are employed to critique existing investor-State investment dispute settlement mechanisms. This study makes four system-related recommendations, namely that the ICSID convention should: 1) liberalize the scope of ICSID’s subject-matter jurisdiction; 2) review undefined investment methods; 3) recognize dual nationalities; and 4) reform the degree and circumstances of foreign control. This study further discusses legal problems related to the ICSID Convention and bilateral investment treaties (BITs), including conflicting awards, procedural conflicts stemming from different dispute settlement forum in BITs, and problems involving ICSID's jurisdiction and most-favored nation(MFN) provisions in BITs. As for future prospects, the study analyzes whether the current multilateral investment framework can resolve the problems of the current investor-State dispute settlement mechanism, and examines the possibility of incorporating investor-State dispute settlement mechanism in the WTO. This study concludes with recommendations concerning how the government and companies of Taiwan can use the ICSID mechanism at the current stage.

När en investerare vill investera utomlands finns många risker som måste beräknas, analyseras och hanteras. Utöver olika ekonomiska risker finns politiska risker. En investerare kan, för att hantera dessa politiska risker, välja att investera i en stat med vilken Sverige har ett bilateralt investeringsskyddsavtal. Dessa avtal reglerar både materiellt investeringsskydd, det vill säga hur en investerare ska behandlas, och processuellt skydd, det vill säga möjligheten för en investerare att väcka talan mot staten investeraren investerar i genom ett internationellt skiljeförfarande. Sverige har idag 66 stycken bilaterala investeringsskyddsavtal i kraft, varav tolv stycken är slutna med länder inom EU. Antalet bilaterala investeringsskyddsavtal slutna mellan EU-länder, intra-EU BIT, ökade avsevärt i och med att unionen utvidgades år 2004 och 2007. Sedan dess har avtalens förenlighet med EU-rätten diskuterats i litteraturen, i skiljedomstolar och nyligen även i EU- domstolen i det så kallade Achmea-målet. I uppsatsen kartläggs och analyseras argumenten i diskussionen om relationen mellan intra-EU BIT och EU-rätten. Vidare analyseras vilken del av investeringsskyddet som intra-EU BIT-förespråkare anser vara mest betydelsefull. Från resonemanget och analysen i uppsatsen dras slutsatsen att det är ISDS-systemet, tvistelösningssystemet där en investerare kan väcka talan mot en stat, som kan anses utgöra den mest betydelsefulla delen av investeringsskyddet i intra-EU BIT:en. Därefter analyseras huruvida ett investeringsskydd innehållande ett ISDS-förfarande kan vara förenligt med principen om ömsesidigt erkännande och förtroende. I uppsatsen konstateras att ISDS-förfarandet inte kan vara förenligt denna princip och att problematiken inte kan lösas genom en juridisk debatt utan måste diskuteras på en politiskt hög nivå. / When investing abroad, an investor is faced with many risks that need to be thoroughly analysed in order to be mitigated. Risks are not only financial, but also political. An investor may, to mitigate these risks, choose to invest in states with which Sweden has a bilateral investment treaty, a so called BIT. BIT do not only regulate treatment of the investor and the investment, which is the material investment protection; but also the jurisdictional possibility of the investor to raise charges against the state of in which the investment has taken place in case of violation of investment rights, procedural investment protection. Today, Sweden has 66 BITs in force, out of which twelve are concluded with EU member states, so called intra-EU BIT. The number of intra-EU BITs grew significantly as a result of the enlargement of the union in the year of 2004 and 2007. Since then, the agreements’ compatibility with the EU legislation has been a subject of discussion within literature, investment arbitrations and recently in the European Court of Justice in the Achmea case. This thesis aims to establish and analyse the context of the discussions flourishing the relationship between the intra-EU BITs and the EU legislation. Additionally, the author intends to identify which argumentation regarding investment protection, that by intra-EU BIT praisers is considered to be the most impactful. As a result, the conclusion of the thesis is that it is the ISDS-system, the investor- state dispute settlement, in which an investor can raise charges towards a state, that is the most valuable part of the investment protection given by the intra-EU BITs. Accordingly, it is analysed weather investment protection containing an ISDS-system can be compatible with the principle of mutual trust and recognition. In the thesis it is concluded that the ISDS-system cannot be considered to be compatible with the principle and that this problem should be debated on a high political level and cannot be solved through a legal debate.