LWMILA: International Investment Law and Arbitration

Module code: LWMILA

Module provider: School of Law

Credits: 20

Level: Postgraduate Masters

When you'll be taught: Semester 2

Module convenor: Dr Chang Wang, email: chang.wang@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: No

Last updated: 21 May 2024

Overview

Module aims and purpose

This module offers an in-depth introduction to the law of foreign investment and investment treaty arbitration. Through a close analysis of the substance of bilateral investment treaties and the settlement of investor-state disputes via arbitration, students will acquire understanding of the law, politics and economics of the investment treaty regime.ÌýÌý

The module is designed:ÌýÌý

• To provide a comprehensive overview of the major legal and policy debates in international investment law.ÌýÌý
• To evaluate the practice and process of investment treaty arbitration.ÌýÌý
• To stimulate the interest of students in a vital area of international economic lawÌý

Module learning outcomes

By the end of the module, it is expected that students will be able to:Ìý

1. Demonstrate an understanding of the key concepts in international investment law.Ìý
2. Appraise international investment arbitration from the perspective of host states, multinational corporations, and other interest groups.ÌýÌý
3. Critically reflect on how economic globalisation shapes national regulatory preferences.ÌýÌý

Module content

The module may include the following topics:Ìý

• The Evolution of International Investment LawÌýÌý
• Protected Investments and InvestorsÌýÌý
• Non-Discrimination and Foreign InvestmentÌýÌý
• Fair and Equitable TreatmentÌýÌý
• Expropriation and DefencesÌýÌý
• International Investment Arbitration procedureÌý
• ISDS – Practice and ProcedureÌýÌý
• Compensation, Costs and Challenging of AwardsÌýÌý
• Politics of the Investment Treaty RegimeÌýÌý
• The Future of Investor-State Dispute SettlementÌýÌýÌý
• Investment Treaties and Investment ArbitrationÌý

Structure

Teaching and learning methods

Teaching in this module is designed to provide students with a range of resources on which they can draw in their learning. The main elements are:Ìý

• Eleven 2-hour seminars weekly plus 3 weeks of assessment in Semester 2.ÌýÌýÌýÌý
• Assessed work that will be used to develop students' skills and knowledge.Ìý
• An assessed presentationÌýÌý
• An assessed essayÌýÌý

Teaching and learning on the taught LL.M. is based on independent research and discussion in the context of seminars. This approach to study enables students to develop the independent research, analytical and reflective skills required for successful completion of a postgraduate level course. Success in the LWMILA module depends greatly on the independent contribution made by students to their own learning.ÌýÌý

The handout for each seminar will list required and optional readings. Prior to the seminar, you are expected to have read the material listed as ‘required’. You are not expected to have read the materials listed as ‘optional’, but you may wish to read as much as possible to explore the issues raised in more detail. The ‘optional’ reading may also provide useful research material for the assessed essay and for dissertations written in this area.ÌýÌý

You should come to each seminar prepared to engage with the ‘Questions to Discuss’, listed after the required and optional readings for each seminar, as part of the seminar will require you to discuss the questions.ÌýÌý

Literature and SourcesÌýÌý

Each seminar has a different focus. Many of the issues addressed are covered by textbooks, which are available in the library in hardcopy. Some textbooks can also be accessed via the library website as an e-book. All materials listed should be available from the library or from electronic catalogues such as HeinOnline or Westlaw, unless indicated otherwise.Ìý

Required TextbookÌýÌý

• CL Lim, Jean Ho and Martins Paparinskis, International Investment Law and Arbitration: Commentary, Awards and Other Materials (2nd ed. Cambridge University Press 2021).ÌýÌý

Recommended TextbooksÌýÌý

• Rudolf Dolzerand ChristophÌý Schreuer,Principles of International Investment Law (2nd ed, Oxford University Press 2012).ÌýÌý
• Campbell McLachlan, Laurence Shore and Matthew Weiniger, International Investment Arbitration: Substantive Principles (2nd ed., Oxford University Press 2017).ÌýÌý
• Jonathan Bonnitcha, Lauge Poulsen and Michael Waibel, The Political Economy of the Investment Treaty Regime (Oxford University Press 2017).ÌýÌý
• M Sornarajah, The International Law on Foreign Investment (4th ed., Cambridge University Press 2017).Ìý

Legal TextsÌýÌý

• Martins Paparinskis, Basic Documents on International Investment Protection (2nd ed., Hart Publishing 2019).ÌýÌý

WebsitesÌýÌý

• International Centre for Settlement of Investment DisputesÌýÌý
• https://icsid.worldbank.org/en/Ìý
• International Institute for Sustainable Development https://www.iisd.org/itn/ÌýÌý

Study hours

At least 22 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

In-class peer assessment for individual presentation templatesÌý

Reassessment

Additional costs