As I have already discussed in previous articles, the European Commission (the Commission) has been pushing forward a proposal for the establishment of a multilateral investment court (the Multilateral Investment Court) in order to address the numerous criticisms concerning existing investor-State dispute resolution (ISDS) mechanisms.
In essence, the Commission’s proposal aims at dealing with procedural issues arising in the context of ISDS. In this vein the Commission proposes:
(i) The creation of a Multilateral Investment Court which would have exclusive jurisdiction to rule on investment claims and would therefore render forum-shopping and multiple parallel proceedings impossible;
(ii) That this Multilateral Investment Court would consist of a First Instance Tribunal and an Appellate Tribunal;
(iii) That judgments would be made by publicly appointed judges; and
(iv) That proceedings would be transparent; and
(v) That all interested parties would have a right to intervene.READ MORE