• The Increasing Appeal and Novel Use of Bilateral Investment Treaties
  • May 1, 2013 | Authors: David Herlihy; Timothy G. Nelson
  • Law Firms: Skadden, Arps, Slate, Meagher & Flom (UK) LLP - London Office ; Skadden, Arps, Slate, Meagher & Flom (UK) LLP - New York Office
  • Over the last 20 years, bilateral investment treaties (BITs) have provided foreign investors with basic safeguards against expropriation and related risks and guarantee the right to bring claims before a neutral arbitral tribunal, such as the International Centre for the Settlement of Investment Disputes (ICSID), or a tribunal established under the arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL). There are more than 3,000 BITs and a number of multilateral instruments or free trade treaties (such as NAFTA and the 1994 Energy Charter Treaty) providing BIT-style protection within certain regions or industry sectors.