REGULATORY FREEDOM AND INDIRECT EXPROPRIATION IN INVESTMENT TREATY ARBITRATION

Abstract

THIS THESIS EXAMINES THE RELATIONSHIP BETWEEN REGULATORY FREEDOM OF STATES AND THE TREATMENT STANDARD OF INDIRECT EXPROPRIATION IN INVESTMENT TREATY ARBITRATION. IT IS ARGUED THAT REGULATORY FREEDOM DOES NOT AMOUNT TO INDIRECT EXPROPRIATION AS LONG AS IT IS EXERCISED BONA FIDE, NON-DISCRIMINATORY AND IN PUBLIC INTEREST. AFTER TRACING STATE PRACTICE THIS THESIS ESTABLISHES THAT REGULATORY FREEDOM IS A CUSTOMARY INTERNATIONAL LAW PRINCIPLE AND ITS INGREDIENTS EMANATE FROM CUSTOM.