By Andrea K. Bjorklund, August Reinisch
This significant booklet examines the improvement of soft-law tools in foreign funding legislations and the feasibility of a 'codification' of the current nation of this box of foreign financial legislations. It attracts jointly the perspectives of foreign specialists at the use of sentimental legislations in overseas legislation commonly and in discrete fields akin to WTO, advertisement, and environmental legislations. The e-book assesses even if funding legislations has sufficiently coalesced over the past 50 years to be 'codified' and focuses quite on topical matters reminiscent of most-favoured-nation therapy and expropriation. This t. Read more...
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Claims Tribunal at 25 (OUP 2007) 1, 22. 118 Still, it is important to emphasize that the above pattern of jurisprudence constante in most spheres of investment law does not imply that investment tribunals always adopt the same position expressed by previous tribunals. 121 ‘Soft law’ rules are not legally binding and investment arbitrators have discretion whether to apply them in a particular dispute or not. g. deriving from treaty or customary law). The gap-filling function was prominent, for instance, in the OPIC decision on the proposal to disqualify one of the arbitrators (Professor 118 Fauchald, above n 94, 336–7, see also at 335.
127 V. SCHOLARLY WRITINGS ‘Teachings of the most highly qualified publicists of the various nations’ constitute the last source of international law mentioned in Article 38(1)(d) of the ICJ Statute, and they are referred to as a subsidiary means for the determination of international legal rules. The ICJ rarely refers to the opinions of writers128 in its decisions (although more references appear in 124 The tribunal stated in that regard: ‘We accept that the IBA Guidelines are not conclusive for the purposes of the decision that we are required to make on this challenge, and that the examples contained in the IBA Guidelines are both nonexhaustive and not in themselves decisive of whether or not the standards set out in the guidelines for impartiality and independence of arbitrators have been met.
86 Texaco v Libya, above n 85, at para 57 (footnote omitted). 96 [. ] Tribunals made use of general principles of law as an interpretive argument in only four decisions. Hence, even if international investment law is an area of law where there are close links between domestic and international law and where general principles derived from domestic legal systems may be expected to be of importance to the interpretation and application of international law, there were few instances where such principles had practical significance.