1. Introduction; 2. Admissibility in international investment law; 3. Mixed claims commissions and the origins of central concepts; 4. Admissibility and shareholder standing; 5. Damages in shareholder treaty claims; 6. The contract-treaty distinction; 7. Applicable law; 8. Conclusion; Bibliography.
Shareholder treaty claims risk multiple recovery and prejudice to third parties. Admissibility provides a screening mechanism to address these risks.
Gabriel Bottini is Adjunct Professor of Public International Law, University of Buenos Aires and Partner at Uria Menendez. As Argentina's Director of International Disputes, Gabriel Bottini was involved in over 60 investment arbitrations brought following the country's 2001 economic collapse. These cases mark a crucial, catalytic moment in the history of investment arbitration. Bottini engages with a fundamental notion stemming from these cases: shareholder standing under investment treaties.
'A great contribution to the progressive development of
international investment law to be born in mind by all participants
in international arbitration proceedings. This learned study
advices the reader on the need of developing within international
investment law substantive inadmissibility or other substantive
means to avoid double recovery and other undue overlaps resulting
from an independent treatment by Arbitral Tribunals of
shareholders' treaty rights and of treaty-claims in respect to
company's rights and contract- claims, respectively.' Santiago
Torres Bernardez, Former Registrar and Judge ad hoc of the ICJ.
ICSID and PCA Arbitrator.
'This is a masterly study of shareholder claims in investment
arbitration. Comprehensive, thoroughly-researched and well-written,
the book challenges the independence of indirect shareholder claims
under investment treaties from company rights under national or
contractual law. Focusing on issues of both practical and scholarly
significance, this rich contribution will be invaluable to both
practitioners and academics. It deserves to be widely read!'
Catharine Titi, French National Centre for Scientific Research
(CNRS)-CERSA, University Pantheon-Assas Paris II
'Gabriel Bottini relies on ideas contained in the jurisprudence of
old mixed claims commissions and of the International Court of
Justice to build on the concept of admissibility and deal with some
of the most pressing problems presented by shareholder claims under
investment treaties.' Professor Raul Vinuesa, University of Buenos
Aires
'Balanced, rigorous and timely, a most valuable addition to our
understanding of this complex set off issues, of great value for
scholars and practitioners alike'. Professor Philippe Sands QC, UCL
and Matrix Chambers
'Investment tribunals deciding shareholder claims tend to regard
Barcelona Traction as a quaint relic of the law on diplomatic
protection. Gabriel Bottini shows how Barcelona Traction never went
away. His nuanced admissibility criteria offer a fresh approach to
shareholder standing to prevent double recovery. Through the prism
of shareholder claims, he casts new light on linkages between
contract and treaty'. Professor Michael Waibel, University of
Vienna
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