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Shareholders' Claims for Reflective Loss in International Investment Law Lukas Vanhonnaeker (McGill University, Montreal)

Shareholders' Claims for Reflective Loss in International Investment Law By Lukas Vanhonnaeker (McGill University, Montreal)

Shareholders' Claims for Reflective Loss in International Investment Law by Lukas Vanhonnaeker (McGill University, Montreal)


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Summary

This book is aimed at both academic and practitioner audiences. It analyses the policy underpinnings of shareholders' claims for reflective loss, and will constitute an important tool for attorneys and arbitrators who have to address these types of claims.

Shareholders' Claims for Reflective Loss in International Investment Law Summary

Shareholders' Claims for Reflective Loss in International Investment Law by Lukas Vanhonnaeker (McGill University, Montreal)

In recent years, investor-state tribunals have often permitted shareholders' claims for reflective loss despite the well-established principle of no reflective loss applied consistently in domestic regimes and in other fields of international law. Investment tribunals have justified their decisions by relying on definitions of 'investment' in investment agreements that often include 'shares', while the no-reflective-loss principle is generally justified on the basis of policy considerations pertaining to the preservation of the efficiency of the adjudicatory process and to the protection of other stakeholders, such as creditors. Although these policy considerations militating for the prohibition of shareholders' claims for reflective loss also apply in investor-state arbitration, they are curable in that context and must be balanced with policy considerations specific to the field of international investment law that weigh in favor of such claims: the protection of foreign investors in order to promote trade and investment liberalization.

Shareholders' Claims for Reflective Loss in International Investment Law Reviews

'This book explains why international investment law, unlike domestic law and other areas of international law, protects shareholders against reflective loss. Vanhonnaeker not only meticulously describes this practice, which is based on treaty law as well as on tribunal practice. He also explains the policies behind this development and offers detailed solutions to the problems engendered by it. Altogether an impressive scholarly achievement.' Christoph Shreuer, Of Counsel, zeiler.partners Vienna
'Lukas Vanhonnaeker's new monograph provides an invaluable contribution to the literature on international investment law. In a comprehensive and in-depth analysis, he carefully evaluates the legal and policy bases for allowing shareholders' claims for reflective loss, situating the analysis in the existing body of domestic and international law on this topic. This is a 'must read' for anyone interested in shareholders' claims in international investment law.' Andrew Newcombe, University of Victoria
'In recent years, investor-state tribunals have often permitted shareholders' claims for reflective loss despite the well-established principle of no reflective loss applied consistently in domestic regimes and in other fields of international law. Investment tribunals have justified their decisions by relying on definitions of 'investment' in investment agreements that often include 'shares', while the no-reflective-loss principle is generally justified on the basis of policy considerations pertaining to the preservation of the efficiency of the adjudicatory process and to the protection of other stakeholders, such as creditors. Although these policy considerations militating for the prohibition of shareholders' claims for reflective loss also apply in investor-state arbitration, they are curable in that context and must be balanced with policy considerations specific to the field of international investment law that weigh in favor of such claims: the protection of foreign investors in order to promote trade and investment liberalization.' Lukas Vanhonnaeker, Post-Doctoral Fellow, Faculty of Law, McGill University, Montreal

About Lukas Vanhonnaeker (McGill University, Montreal)

Lukas Vanhonnaeker is a post-doctoral fellow at the Faculty of Law, McGill University, Montreal, Canada, where he is conducting research in the field of international economic law with an emphasis on international investment law and arbitration and international corporate law.

Table of Contents

Introduction. International investment law's narrative and shareholders' claims for reflective loss; 1. Shareholders in international investment law; 2. International investment law's shareholders' claims for reflective loss: a clash of policies; 3. Shareholders' claims for reflective loss in domestic regimes, customary international law of diplomatic protection and human rights law; 4. International investment law on the standing of shareholders; 5. Legal uncertainty and inconsistency militating against shareholders' claims for reflective loss: the unpredictability of investment disputes involving shareholders; 6. Shareholders' claims for reflective loss and the dangers of parallel proceedings; 7. International res judicata as a solution to parallel proceedings arising from shareholders' claims for reflective loss in international investment law; 8. Calculating damages in shareholders' claims for reflective loss; Conclusion; Bibliography; Index.

Additional information

NLS9781108746526
9781108746526
1108746527
Shareholders' Claims for Reflective Loss in International Investment Law by Lukas Vanhonnaeker (McGill University, Montreal)
New
Paperback
Cambridge University Press
2022-08-11
429
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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