LL.M. - OECD€¦ · Phelps Dodge,75--Tippetts, „ -- Phelps ... 77 Compañía del Desarrollo de...

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- - - 1 - - : Yannaca-Small, C., Chapter 2: „Indirect Expropriation“ and the „Right To Regulate“ in International Investment Law // International Invest- ment Law: A Changing Landscape: A Companion Volume to International Investment Perspectives; Yannaca-Small, C., Chapitre 2: L'„Expropriation indirecte“ et le „droit de réglementer“ dans le droit international de l'investis- sement // Droit international de l’investissement: Un domaine en mouvement: Complément aux Perspectives de l'investissement international. © 2005 OECD. - - LL.M. 1 Ä “ (the „Hull formula“), - - the Calvo doctrine - - - - - Ä “. - Ä Ä (c

Transcript of LL.M. - OECD€¦ · Phelps Dodge,75--Tippetts, „ -- Phelps ... 77 Compañía del Desarrollo de...

Page 1: LL.M. - OECD€¦ · Phelps Dodge,75--Tippetts, „ -- Phelps ... 77 Compañía del Desarrollo de Santa Elena S.A. v. Republic of Costa Rica, ICSID Case Nr. ARB/96/1. (17.2.2000).

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„Right To Regulate“ in International Investment Law // International Invest-ment Law: A Changing Landscape: A Companion Volume to International Investment Perspectives; Yannaca-Small, C., Chapitre 2: L'„Expropriation indirecte“ et le „droit de réglementer“ dans le droit international de l'investis-sement // Droit international de l’investissement: Un domaine en mouvement: Complément aux Perspectives de l'investissement international. © 2005 OECD.� � � �

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� � � � 2 Dolzer, Indirect Expropriations: New Developments? Article of the Collo-

quium on Regulatory Expropriation organised by the New York University on 25-27.4.2002; 11 Environmental Law Journal 64.

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tional Law: A Modest Foray into the Problem of ‘Creeping Expropriation’, Virginia Journal of International Law, 1975, Volume 16, pp. 103-175 at 112.

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of Iran, 4, Iran-US Cl. Trib. Rep. 122, 156-57 (1983), Amoco International Finance Corporation v. Iran, Award No 310-56-3 (14 July 1987), 15 Iran-US C.T.R. 189-���� � � � ��� � � -

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� � � � � � � ��F.R.G. v. Pol., 1926 P.C.I.J. (ser. A) Nr. 7 (May 1925).

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� �� � � � � � �� � �� � � Oscar Chinn 1934 �� �

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Canada, Interim Award (26.6.2000), paras. 96-98 and S.D. Myers, Inc. v. Canada, (November 13, 2000) Partial Award, 232. International Legal Mate-rials 408, para. 232. . , ., White, Nationalisation of Foreign Property, 49 (1961); The Iran-United States Claims Tribunal: Its contribution to the Law of State Responsibility 196-97, Nr. 33 (Richard Lillich and Daniel Magraw editors, 1998).

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� � � � � .“ . Dolzer, Indirect Expropriation of Alien Property, ICSID Review, Foreign Investment Law Journal, 1986, pp. 41-59 at 44.

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cit. Nr. 2�� � � � � � ��„ � � �� � � �� � � �

� � � � � � ��� �� � � � � � �“ Restatement of the

Law Third, the Foreign Relations of the United States, American Law Insti-tute, Volume 1, 1987, Section 712. � � � �

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� � � �� � � �� � 11 Dolzer Stevens op. cit. Nr. 5 at 99. 12 Higgins, The Taking of Property by the State: Recent Developments in Inter-

national Law, Recueil des Cours – Académie de Droit International, 1982, Vol. 176 at 276-77.

13 Nouvel, Les mesures équivalant à une expropriation dans la pratique récente des tribunaux arbitraux, Revue Générale du Droit International Public, 2002-1 pp. 80-102 at 89.

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18 OECD Draft Convention on Foreign Property, 12.10.1967 pp. 23-25. 19 � � � � �� �i) � � -

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20 Restatement of the Law Third, the Foreign Relations Law of the United

States, American Law Institute, Volume 1, 1987, Section 712, Comment g.

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21 The Multilateral Agreement on Investment (Report by the Chairman of the

Negotiating Group) DAFFE/MAI(98)17, 4.5.1998, .: http://www1.oecd. org /daf/mai /pdf/ng/ng9817e.pdf.

22 Id. pp. 13-15. 23 See OECD document C/MIN(98)16/FINAL.

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24 �

. Geiger, Regulatory Expropriations in International Law: Lessons from the Multilateral Agreement on Investment, N.Y.U. Envi-ronmental Law Journal, 2002, Volume 11, Number 1, pp. 94-109 at 104.

25 Christie� � ���� ��� �„ �� � �� � � -�� � � � �� �„ “

� � �� � �� � � �� �–� � � � � � � �

–� � � �� � � ��� �“ Christie, What Constitutes a Taking of Property un-

der International Law? // British Yearbook of International Law, 1962 pp. 307-338. Sornarajah �� � � � „ �

� �� � � � � � � -� � � �� � � � � �� �� �� � � � � � � �

�� � � � � � � � �� � �� � � � .“ �� op. cit. Nr. 9. Dolzer � �

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� � � �� � -� � � �“ � op. cit. Nr. 7.

26 � � � � � � � � � � ���� � �� � � � � � � �

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� � � � � � �� � 30,31� �Starrett Housing,32� � � � �

28 � � � � � –� � �� � �

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29 . : Handyside v. United Kingdom, 24 Eur. Ct. H.R. (ser.A) at 29 (1976); Poiss v. Austria, 117 Eur. Ct.H.R. (ser. A) 84, 108 (1987); Matos e Silva, Lda v. Portugal App. Nr. 15777/89, 24 Eur. Ct. H.R. rep. 573, 600-01 (1996). . Ruiz Fabri, The Approach Taken by the European Court of Human Rights to the Assessment of Compensation for ‘Regulatory Expropriations of the Property of Foreign Investors, N.Y.U. Environmental Law Journal, Volume 11, Nr. 1, 2002 pp. 148-173.

30 Sornarajah � �� �„ � � � � -� � � � � � � � � �

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� � Tippetts34� � � � � -� - � � �� � ��

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31 � � � . Seddigh Aldrich, What Constitutes a Com-pensable Taking of Property? The Decisions of the Iran-United States Claim Tribunal, The American Journal of International Law, Vol. 88 pp. 585-609.

32. Starret Housing Corp. v. Iran, 4 Iran-United States Cl. Trib. Rep. 122, 154 (1983).

33 Sea-Land Service Inc. v. Iran, 6 Cl. Trib. Rep.149 (1984). . Seddigh Aldrich, p. 656, op. cit. Nr. 31.

34 Tippetts v. TAMS-AFFA Consulting Engineers of Iran, 6 Cl. Trib. 219 (1984).

35 Tippetts � � � � � �� � � � � � � �� � �

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� � �� � �Pope & Talbot v. Canada,37� � -� � �� � � � � � � � -

� � �,(3��:���!$(�� � � � -� � � � �� � � � � � �

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� �S.D. Myers v. Canada,39� � �� � �� � � � � �� �� � �

� ��� � � � � � ��� � � � � � � �

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� � � � � � � -9� � � � � � �� � �“40

� � Marvin Roy Feldman Karpa (CEMSA) v. United Mexican States,41� �;<���� �� � � �

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� � .“ 37 Pope & Talbot Inc. v. Canada, . op. cit. Nr. 6. 38 � �� � �� ��„ � � � � �

� � � � � �� � � � �� … � � �� � � �

� � � � � �� � -� � � � � � � � -� � � � � ,“ � Award

para. 99. 39 S.D. Myers Inc. v. Government of Canada, . op. cit. Nr. 6. 40 Gami v. The Government of the United Mexican States, Award, 15.11.2004. 41 Marvin Feldman, ,

CEMSA. ICSID Case Nr. ARB(AF)/99/1, Award of 16.12.2002, pp. 39-67 at 59.

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� �GAMI v. The United Mexican States42� � � �� � � � � � =�<+��� � � �� =�<+� � ��

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� � � ��� Sporrong and Lönnroth v. Sweden45� ������� � -

42 Gami v. The Government of the United Mexican States, Award, 15.11.2004. 43 Idem. Para. 35. 44 Idem. Para. 133. 45 � � � � � � � ��� � �� ��

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46 Revere Copper & Brass Inc. v. Overseas Private Investment Corporation, 56 International Legal Materials 258.

47 � � � � � � ��

48 .� Higgins, pp. 331-37, op. cit. Nr. 12, Sornarajah, p. 301, op. cit. Nr. 9 at 301 and Dolzer op. cit. Nr. 7 at 51-52.

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www.mfcr.cz/scripts/hpe/default.asp. 50 � 2� � � � � -

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Award, paras. 20.1, 20.21, 16.9.2003. 55 Idem. Para 20.32. 56 Idem. Para. 20.26. 57 Occidental Exploration and Production Co. v. Ecuador, Award, 1.7.2004, at

80-92. 58 Metalclad Corporation v. United Mexican States (Tribunal Decision

30.8.2000). 59 . op. cit. Nr. 54.

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at para. 262. 62 Idem. Para 263. 63 Eureko v Poland, Partial Award 19.8.2005 (ad hoc arbitration under

UNCITRAL Rules). 64 30 % , � � �

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.

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Latvia, Award 16.12.2003. at 4.3.1. 67. � � Nr. ���C���� � � �

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tion, Golden Gate University Law Review (1999), Vol. 29, Nr. 3; pp. 465-538.

71 . 1962 . , „ -� “ � op. cit. Nr. 25.

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75 Dodge, 10 Iran-United States Cl. Trib. Rep. at 130. 76 . op. cit. Nr. 58.

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77 Compañía del Desarrollo de Santa Elena S.A. v. Republic of Costa Rica,

ICSID Case Nr. ARB/96/1. (17.2.2000). 78 � � � � � � � ��

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� � 84� � �� �

79 The Iran-US Claims Tribunal: Its contribution to the Law of State Responsi-

bility, . op. cit. Nr. 6 at 200. 80 . Weston, op. cit. Nr. 3 at 116. 81 Christie, . op. cit. Nr. 25 at 338. 82 Sornarajah, op. cit. Nr. 9. 83 . Harris et al.,

, : „Law of the European convention on Human Rights“, (1995) at 535.

84 � � � � �� � -� � � � � � � � � � �

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(1986). 85 . Mountfield, „Regulatory Expropriations in Europe: the Approach of the

European Court of Human Rights“, N.Y.U. Environmental Law Journal, Volume 11, Nr. 1, 2002, pp. 136-147.

86 � � � �� � � �� � � � �� � � �� � � �� � � freehold� � � -

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� �“

� �<�#)���*(E�6�!�"���D�#3��)���������<�G�4�������� 88� ��� �

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� � � � � � ��

87 . op. cit. Nr. 6. 88 . op.cit. Nr. 41 para. 103.

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102 � -

� � � � �� -� � � � �� � �

� � �� � � � � � -� � � �� � � � -

� � � � � �� � � �� -� � � �� � � ��

� � � � �� � � � ��“

� �Methanex v the United States of America,89� � -� � � � � � �

� � � � � � �<�H;�� � � -��<��-���G�� � � � �

<�H;�� �� � � � �bona fide�� � -� �� � � � �� � � ��� � �� �

� � � � � � � � -� �� � � � � � � � �

� � � �� � �� � � �„ � � �� � � � “�� �� �

� � �� � � �� � � � ��� � � � �� �

� � �Revere Copper & Brass v OPIC,90� � � � �� � � �� � �

„� � � � � � -� � � �� � �

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� � � � � �� �� � � �� � �� � �

� � � � � �“91

� � �� � �� � � � � � -� �� � � � � � � -

� � �� � � � � � � -�� �„ � � � � � � �

� � � � � “�� � �� �� � � � � � � � � �

89 Methanex Corp. v. Unites States of America, Final Award, 3.8.2005, .:

www.state.gov/documents/organization/51052.pdf. 90 . op. cit. Nr. 46. 91 Award, at p. 278, para. 7.

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� � � � � 103

� � �� � � � �� „ �� � � � � “� � � �� � �

� � Técnicas Medioambientales Tecmed S. A, v. The United Mexican States,92� �� �écnicas Medioambientales Tecmed, S.A.,

� � � �� �� � � �� � � � � � � �

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�“93� � �� �� „ � � �� � � � � �� -� � � �� � �� � � -

� � � � �“94

aa) „ � “�

�� � � � „ � “ � � � � �� � � � �

� �� � �„ � “� -� � � � � � �� �� � � � � �� � � -

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92 Tecnicas Medioambientales Tecmed S.A, v. The United Mexican States,

ICSID Award Case Nr. ARB (AF)/00/2. 93 Idem. Para. 122. 94 Idem. 95 Restatement of the Law Third op. cit. Nr. 20 Section 712, Comment g.

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104 � -

�� � � � � � � �� � �� � � � �

��“

� � � � � � �� � � � �� � � �

� � � � � � �� � � � -� � � � � �� �Too v.

Greater Modesto Insurance Associates,96� � � � �� � � � � �

� � � � �� � �

„� � � � � � � � � -� � � �� � �bona

fide � � � � � �� � -� � � �� � � �

� � � � �� � �� �� � � � � � � � �� -� � � � � � � �

� � � � � � � �“

� �Lauder v. The Czech Republic97� � � � �� � � �� �� „… � & -

'� � � � � � �� -� � � � �bona fide�� � �

� � � � .“

� � Técnicas Medioambientales Tecmed S.A, v. The United Mexican States,98� � � �� � � �

�� � �� ��„ �� � � � �� � � � � � � �� � � � � �

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c) � � � � � � � �

� � � � �� � � ��� �� � � �� �

� � � � �� � � � �� � � �� � � � � -

96 Award 29.12.1989, 23 Iran-United States Cl. Trib. Rep. 378. . Sed-

digh, Aldrich op. cit. Nr. 31. 97 Lauder (U.S.) v. Czech Republic (Final Award) (3.9.2002) available at:

www.mfcr.cz/scripts/hpe/default.asp. 98 � op. cit. Nr. 92.

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� � � � � 105

� �� � � � � � � �� � � � � �

� �Oscar Chinn99 1934 �� � � � ��,���+�.��� � � � � � �� � � � -

� �100� �� � � � � -� �de facto � � � �� � �„ � � � � � � �

�–� � � �� � � -� “:101

„ � � � � � � � � � , � � � � �� �

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� � � � � � � � � �Starett Housing Corp. v. Iran102� � � � �

� ��

„ � � �� � � � � � ��� � �� � � � � � -

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�� � � �� � -� � �“

� �Metalclad v. The United Mexican States� � �� ��„...<���!4!��� � � � �� � �� � � �� � -

� � � � � � � -� �“103� � �� � � � � �

99 � op. cit. Nr. 6. 100 � � � � �„ � -

� “� � � � �� � � -� � � � �� � � � ��� � � � �

101 Seddigh, What level of Host State Interference Amounts to a Taking under Contemporary International Law?: Journal of World Investment, 2001, Vol. 2, Nr. 4, pp. 631-84 at 646.

102 � op. cit. Nr. 32. 103 . Metalclad v. Mexico, op. cit. Nr. 58 para. 100.

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106 � -

� � � � � � � „ -� � � � � .“104

� �Marvin Roy Feldman Karpa (CEMSA) v. The United Mexican States105� � � � � � � � �� � � �

„ � � � � � -� � � � � � � � � �

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� �Técnicas Medioambientales Tecmed S. A, v. The United Mexican States,106� � � � �� � � � -

� �„ � � � � � �� -� � � � � � �� � � �

�“ „� � � �� � � � �� �� �� � � �� � � � � �

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�� � „ “� � � � � -�

� �Occidental v. Ecuador110� � � � -� � � � � � � -� : „ � � � � � � -� � � � ��“ � � �� �- �)

104 Idem para. 103. 105 . op. cit. Nr. 41. 106 . op. cit. Nr. 92. 107 . 108 . op. cit. Nr. 92 para. 50. 109 � � � � � � �� � ��

� � � �“ Idem para. 148. 110 . op. cit. Nr. 57.

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� � � � � 107

� �Methanex Corp. v. The United States of America,111� �� � � � � � � �� � � �

� � � �� � �� � � �� � � �„ - � �� � ��

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� � � � � � � � -� � � � � � � �� � � � �“112

2. �

� � � � � � �� � � � � � � � � -� � � �113� �114� � -

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� �� � �� � :

111 . op. cit. Nr. 89. 112 ��p. 279, para. 9. 113 � � � � � � � � �

1.3.2004, [Annex 11-B, Article 4 (b)]. 114 6.6.2003

(Annex 10-D). 115 � � � � �� � � �

� � � � 2�������� �����G 10-C). - � � �� - ��� �� �� �� �� -

� � � 116 � � � � � � � � ��2��������

(Annex 10-B). 117 Robert Zoellick

George Yeo 6.5.2003. 118 .: http://www.state.gov/documents/organiza tion/

38710.pdf.

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108 � -

(i) � � � �� ��� � � � � �� � ��� � � � � � -�� � � � � �� � � �� 9

(ii) �� � � � � � ��� � �� � � 9�

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IV.

a) � � � � �� � ��� � � � � � �

�� �� � � � � �� �� � �� � � � � �� �� � � � � � -

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119 � � � � ��� http://www.dfait-maeci.gc.ca/

tna-nac/what_fipa-en.asp.

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� � � � � 109

b) � � � � � �� � �� � � � �

�� � � � & � �'�� � � � � � � � �

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c) � � �� � �� � �� „ � � “� � �� �

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d) � � � � � � � -� � � � � �� � -

� � � � � � �� �� � � � � � ,

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e) � � � �� � � �� � ��� � � � � � �� � � � � � �� �� � � � � � �� �

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110 � -

Summary

Expropriation (direct and indirect) requires compensation, based on clearly set rules of customary international law. However, while determi-nation of a direct expropriation is relatively straightforward to make, de-termining whether a measure falls into the category of indirect expropria-tion has required tribunals to undertake a thorough case-by-case examina-tion and a careful consideration of the specific wording of the treaty.

The line between the concept of indirect expropriation and non-compensable regulatory governmental measures has not been systemati-cally articulated. However, a close examination of the relevant jurispru-dence reveals that, in broad terms, there are some criteria that tribunals have used to distinguish these concepts: i) the degree of interference with the property right, ii) the character of governmental measures, i.e. the purpose and the context of the governmental measure, and iii) the inter-ference of the measure with reasonable and investment-backed expecta-tions.

Tribunals, instead of focusing exclusively on the „sole effect“ on the owner, have also often taken into account the purpose and proportionality of the governmental measures to determine whether compensation was due. Thus a number of cases were determined on the basis of recognition that governments have the right to protect, through non-discriminatory actions, inter alia, the environment, human health and safety, market in-tegrity and social policies without providing compensation for any inci-dental deprivation of foreign owned property.

Up to now only a handful of international agreements articulated this difference. Recently, new generation of investment agreements, including investment chapters of Free Trade Agreements, have introduced specific language and established criteria to assist in determining whether an indi-rect expropriation requiring compensation has occurred. These criteria are consistent with those emerging from arbitral decisions.

At the same time, prudence requires to recognise that the list of crite-ria which can be identified today from state practice and existing juris-prudence is not necessarily exhaustive and may evolve. Indeed, new in-vestment agreements are being concluded at a very fast pace and the number of cases going to arbitration is growing rapidly. Case-by-case consideration which may shed additional light will continue to be called for.