Investment dispute settlement: The Multilateral Investment Court

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Investment dispute settlement: The Multilateral Investment Court Brussels, 6 September 2019 Investment dispute settlement: The Multilateral Investment Court Colin Brown Unit F2 Dispute Settlement and Legal Aspects of Trade Policy DG Trade, European Commission Colin.BROWN@ec.europa.eu

Multilateral Investment Court Main features of the Multilateral Investment Court

A permanent mechanism:

Design features First instance and appeal mechanism Consistency and predictability Correctness Full-time salaried adjudicators appointed by the treaty parties for fixed non-renewable terms Enhanced legitimacy High qualifications and ethical requirements, including representativeness requirements Judicial independence and impartiality Accountability

Design features Special provisions for SMEs Accessibility Reduction of costs Effective enforcement procedures Effectiveness Open to all interested countries Applicable to all 3200 existing international investment treaties ('opt-in mechanism')

Why a Multilateral investment court?

Ad hoc system impacts right to regulate

Ad hoc system generates additional costs

Ad hoc system cannot:

Permanent body protects right to regulate

Permanent body reduces costs

Permanent multilateral body can:

Why multilateral action ?

UNCITRAL Working Group III (Investor-State Dispute Settlement Reform): Thank you European Commission, DG TRADE, Multilateral Investment Court project: http://trade.ec.europa.eu/doclib/press/index.cfm?id=1608 Working document from the EU on possible reform of ISDS: https://undocs.org/en/A/CN.9/WG.III/WP.159/Add.1 UNCITRAL Working Group III (Investor-State Dispute Settlement Reform): https://uncitral.un.org/en/working_groups/3/investor-state Contact: TRADE-F2-MULTILAT-INVEST-DS@ec.europa.eu @trade_EU / @BrownColinM / #MultInvCourt