Contents
1. Introduction... vii
2. Expropriation... 4
2.1. A bit of history on expropriation... 4
2.2. What can be expropriated?... 12
2.2.1. The definition of 'investment'... 12
2.2.2 Expropriation of contractual rights... 14
2.3. Forms of expropriation... 17
2.3.1. Direct and indirect expropriation... 18
2.3.2. The effect of an expropriation... 20
2.3.3. 'Sole effect' or 'police powers' doctrine?... 23
2.4. The legality of expropriations... 26
2.4.1. Public interest... 27
2.4.2. Non-discrimination... 28
2.4.3. Due process... 30
2.4.4. Compensation... 31
2.4.5. Different consequences attaching to lawful and unlawful expropriations... 36
2.5. Regulation or regulatory expropriation... 38
3. Fair and equitable treatment (FET)
3.1. Textual variations of FET clauses... 42
3.2. Is FET identical with the international minimum standard?... 44
3.3. The meaning of FET... 48
3.3.1. The dictionary approach... 50
3.3.2. Elements of FET identified by investment tribunals... 51
3.4. A summary of FET... 64
3.5. Full protection and security... 69
4. Non-discrimination and other investment protection standards... 74
4.1. National treatment... 74
4.2. Most-favored-favored-nation treatment... 85
4.3. Prohibition of arbitrary and discriminatory measures... 92
4.4. Umbrella clauses... 95
5. Investor-state dispute settlement (ISDS)... 99
5.1. Contract and treaty arbitration... 99
5.2. Narrow dispute settlement clauses... 103
5.3. Jurisdictional requirements for ISA under ICSID and non-ICSID arbitration... 105
5.3.1. What is an 'investment'? The ups and downs of the Salini test.. 106
5.3.2. Personal jurisdiction under the ICSID convention and other ISA procedures... 109
5.3.3. Investments made 'in accordance with host state law'... 112
5.4. Investment arbitration proceedings... 113
5.4.1. The procedure before investment tribunals... 114
5.4.2. Annulment procedures in ICSID arbitration... 116
5.4.3. Challenge procedures in non-ICSID arbitrations.. 118
5.4.4. The enforcement of investment awards... 119
5.4.5. Arbitrator independence and impartiality... 121
5.4.6. Transparency... 124
5.4.7 Arbitration costs... 125
5.5. Consistency of awards... 125
5.6. The future of ISDS... 129
6. Conclusion... 131

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.
Written from a public international lawyer's perspective, this short but significant book gives a broad overview of international investment law (IIL), explaining core concepts of investment protection, their evolution, and how investment tribunals have interpreted them. It examines the main features of the prevailing investment dispute settlement system and takes into account historic antecedents and possible future developments. August Reinisch facilitates easy access to the field by putting international investment law into its broader historical, political and legal context.

Key features include:

a combination of academic and practical perspectives
a broad-based contextual introduction
a nuanced, integrated overview of the links and connections between different areas of international investment law.
This Advanced Introduction is an indispensable guide for students of law, political science, international relations and economics. Comprehensive and accessible, it is essential reading for lawyers, scholars and policy advisors seeking to further their understanding of international investment law.