The paper advances the paradoxical thesis that international investment law is developing towards a multilateral system of investment protection on the basis of bilateral treaties. Despite the infinite fragmentation of substantive investment law, coupled with arbitration as a decentralized...

The paper discusses the diverging decisions of the investment treaty tribunals in Emilio Agustín Maffezini v. Kingdom of Spain and Plama Consortium Limited v. Republic of Bulgaria regarding the question of whether most-favored-nation (MFN) clauses in international investment treaties can apply...

The present article comments on Simon Batifort and J. Benton Heath, ‘The New Debate on the Interpretation of MFN Clauses in Investment Treaties: Putting the Brakes on Multilateralization', published in this issue of the American Journal of International Law. It agrees with Batifort and Heath...

This chapter analyzes the inter-state and investor-state dispute settlement disciplines included in mega-regionals, with a specific focus on the already finalized Comprehensive Economic and Trade Agreement and the Trans-Pacific Partnership. It argues that dispute settlement disciplines...