Protection of Foreign Investment according to the Case Law of the European Court of Human Rights
Keywords:foreign investment, investment disputes, Georgian investment agreements, residence of a legal person, the European Court of Human Rights, the case law of the European Court of Human Rights, property right.
In current economic reality states compete with one another in attracting foreign investments. In this regard, it is crucial to identify all those legal mechanisms that allow foreign investors to protect their investments from the arbitrariness of the host state. In this vein, the article examines mechanisms of dispute resolution under the investment agreements executed by Georgia and, whenever judiciary or administrative system of the host country is chosen for resolving such disputes, additionally explores the options of the European Court of Human Rights to restore the violated rights of the foreign investors.
“Agreement between the Republic of Austria and Georgia for the Promotion and Protection of Investment”, adopted: 18/10/2001, entrance into force: 01/03/2004.
Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958).
The Energy Charter Treaty (Lisbon 1994).
The North American Free Trade Agreement (1992).
Ioseliani Al., Conflict of Contract Law, Tbilisi, 2011, 157-158 (in Georgian).
Gabisonia Z., Georgian International Private Law, Tbilisi, 2011, 138-156 (in Georgian).
Dolzer R., Schreuer C., Principles of International Investment Law, Oxford University Press, 2006, 46, 49, 216.
Le Bridge Corporation Ltd. S.R.L. against the Republic of Moldova, , ECHR, (HUDOC), § 18, 29, 31-33.
OAO Neftyanaya Kompaniya Yukos against Russia, , ECHR, (HUDOC), § 517, 524, 525-526.
OAO Neftyanaya Kompaniya Yukos against Russia, , ECHR, (HUDOC) § 38.
Bimmer S.A. v. Moldova, , ECHR, (HUDOC), § 7, 9, 10, 13-18, 58.
Unistar Ventures Gmbh. V. Moldova, , ECHR, (HUDOC), § 6-32, 58, 90, 98.
Industrial Financial Consortium Investment Mettalurgical Union v. Ukraine, , ECHR, (HUDOC), § 5, 25.
Zlinsat, spol. s.r.o. v. Bulgaria, , ECHR, (HUDOC), § 4.
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