The five contributions in this legal working paper discuss various aspects of investment arbitration. They were … originally presented at the ECB legal colloquium on ‘The new challenges raised by investment arbitration for the EU legal order …

arbitration proceedings against the issuing State. Arbitral case-law so far seemed to be consistent in concluding that the holders … of sovereign bonds issued by the host State qualify as investors and thus have standing to bring investment treaty … purposes of international investment law.This article illustrates the main problems revolving around the qualification of …