This thesis aims to identify more clearly the rationale, the constituent elements and the methodology of the concept of legitimate expectations in the field of investment treaty law. It addresses the problems associated with the concept's development in the application of the standards of fair and equitable treatment and indirect expropriation. The thesis adopts a comparative perspective. More developed legal regimes have been referring to legitimate expectations and to a similar concept of investment- backed expectations. Their experiences can assist in addressing questions about the concept's nature in investment treaty law. The enquiry focuses on seven such regimes, namely those of: the USA, England, Australia, European Union, European Convention on Human Rights, general international law and World Trade Organisation. The analysis shows that the concept of legitimate expectations is equitable. It safeguards fairness and trust in the actions of public authorities. It demands balancing of the private interest behind legitimate expectations and the public interest underlying the measures that frustrate them. The analysis identifies three common types of legitimate expectations, namely: legitimate expectations related to the legal and factual situation of an investment, legitimate expectations arising from specific representations and legitimate expectations related to invalidation of State acts. It also identifies the limits of the concept. It should cover neither expectations of immunity from general legislative or regulatory changes, nor investor's subjective expectations of treatment, nor expectations of a proprietary nature. The comparative analysis clarifies the concept's limits, the methodology required for its application and the fundamental questions the tribunals need to address. This greater clarity will facilitate a comprehensive case-by-case discussion among system participants. This discussion will contribute to the development of a concept capable of balancing the private and public interests persuasively and thus of supporting the long-term sustainability of the investment treaty system as a whole.
| Identifer | oai:union.ndltd.org:bl.uk/oai:ethos.bl.uk:665109 |
| Date | January 2015 |
| Creators | Nowak, Lucja Magdalena |
| Publisher | SOAS, University of London |
| Source Sets | Ethos UK |
| Detected Language | English |
| Type | Electronic Thesis or Dissertation |
| Source | http://eprints.soas.ac.uk/20373/ |
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