St.

Xavier’s University, Kolkata

Faculty of __Law__
Lesson Plan
Name of Faculty: Dr. Rakesh Kr. Singh & Dr. Animesh Das
Session………………………………..
Paper Code Paper Title L T P Credit
BAHL/BCHLDS752T Foreign Investment Law 4 1 0 4

Course: B.Com LLB Semester 1 2 3 4 5 6 7 8 9 10

LEARNING OBJECTIVES
1. Aims to introduce students to the basic knowledge of
International Investment Law and various concepts related
to the subject;
2. Aims to help the students understand laws regulating
International Investment Law ;
3. Helps to develop idea on investment arbitration and the
laws governing the same

COURSE OUTCOMES
1. Understand the utility of International Investment Law
and the concepts involved;
2. Analyze the laws regulating International Investment law;
3. Analyze various laws governing investment arbitration.

PROGRAMME
OUTCOMES ADDRESSED 1. Interpret and analyze legal and technical problems and
IN THIS COURSE work for dispute resolution;
2. Promote values of rights and duties and apply these values
to real life through legal and judicial process for promoting
foreign investment;
3. Apply ethical principles and commit to legal professional
ethics, responsibilities and norms of the established legal
practice;
4. Recognize the need for and have the preparation and ability
to engage in independent and lifelong learning in the
broader context of the changing society.

CODE COURSE NAME DESCRIPTION SEM

Course pre-requisites
Gaps in the syllabus - to meet industry/profession requirements
PROPOSED PO
S.NO. DESCRIPTION
ACTIONS MAPPING
1 Extra Class
2 Workshop
Topics beyond syllabus/advanced topics
SXUK Internal
 S.NO. DESCRIPTION HOURS
1
2
3
4
Teaching Pedagogy Used

S.NO. DESCRIPTION Used (Yes/ No)

1 Lecture Yes
2 Practical No
3 Demonstration Yes
4 Discussion Yes
5 Assignments Yes
6 Tests Yes
7 Others(Please specify): Students’ Group Yes
Presentation

Un
Chapter
it Lectur Teaching
No. & Chapter Sub-topics Lecture Topic Faculty
No e No. Pedagogy
Name
.
Meaning of
International
1. Investment
History and
RKS
Developments
Meaning of International regarding
Investment – Early History International
and Developments Investment
regarding international
Investment – Calvo’s
Origin and
Doctrine – Hull’s Formula –
Developme
Energy Charter Treaty –
nt of
Origin of Bilateral
Internation
1 Investment Treaties (BITs)
al
and their dominant role in
Investment Calvo’s Doctrine &
investment protection –
Law 2. Hull’s Formula RKS
New International
Energy Charter Treaty
Economic Order (NIEO) - Lecture &
Sources of International
Discussion,
Investment Law – The Role
Demonstration
of the World Bank and
ICSID

Origin of Bilateral
3.
Investment Treaties RKS
(BITs) and their
2
 dominant role in
investment protection

4. Tutorial RKS
New International
Economic Order
(NIEO)
5. RKS
Sources of
International
Investment Law
The Role of the World
6. RKS
Bank and ICSID
7. Tutorial RKS
Definition of
investment in an IIA
8. with special reference AMD
to Fedex v. Venezuela
Salini v. Morocco
Broad asset based
definition v. narrow
9. AMD
Definition of investment in asset based definition
an IIA with special of investment
reference to Fedex v. Investment and
Venezuela & Salini v. 10. Article 25 of ICSID AMD
Morocco – Broad asset Convention
based definition v. narrow FII as foreign
asset based definition of 11. AMD
investment
investment – Investment
and Article 25 of ICSID
Definition 12. Tutorial AMD
Convention – FII as foreign
of
investment – limitations of
Investment Limitations of having
2 having FII in the definition Lecture &
, Investor 13. FII in the definition of AMD
of investment in an IIA – Discussion,
and investment in an IIA
Arbitral award as Demonstration
Nationality
investment – Definition of Arbitral award as
Investor – Private Foreign 14. AMD
investment
Investor – Nationality of
investor - Individuals & Definition of Investor
Corporations – Article 15. & Private Foreign AMD
25(2)(b) of ICSID Investor
Convention – Denial of Nationality of investor
Benefit Clause in Treaty - 16. - Individuals & AMD
Shareholders as investors. Corporations
Article 25(2)(b) of
ICSID Convention –
Denial of Benefit
17. AMD
Clause in Treaty -
Shareholders as
investors.

3
 18. Tutorial AMD
Most favoured nation
treatment (MFN) -
Introduction -
Application of Most
favoured nation
19. treatment RKS
Variation in MFN
Most favoured nation clause in treaty
treatment (MFN) - practice o Special
Introduction - Application legal relationship with
of Most favoured nation investor and MFN
treatment - Variation in 20. treatment RKS
MFN clause in treaty Treaty shopping and
practice o Special legal the MFN rule in the
relationship with investor procedural and
and MFN treatment - Treaty substantive issues in
shopping and the MFN rule 21. the IIAs RKS
in the procedural and
substantive issues in the Treaty based
Standard IIAs; what are the treaty 22. exceptions in the IIA RKS
of based exceptions in the IIA
treatment – significance of the ‘like
(MFN, circumstances’ clause in the 23. Tutorial RKS
Lecture &
3 National IIAs - National treatment
Treatment, (NT) - Introduction and Significance of the Discussion,
FET) general meaning of the ‘like circumstances’ Demonstration
concept - Application of 24. clause in the IIAs RKS
National Treatment – Fair National treatment
and equitable treatment (NT) - Introduction
(FET) - Concept - Nature and general meaning
and Origin of FET standard of the concept -
o FET and customary Application of
international law - 25. National Treatment RKS
Evolution of FET standard - Fair and equitable RKS
Specific application of the treatment (FET) -
FET standard – Legitimate Concept - Nature and
expectation of investor and Origin of FET
stability - Transparency – 26. standard
Due process as an element RKS
of FET
Specific application of
27. the FET standard
Legitimate RKS
expectation of
investor and stability -
28. Transparency
Due process as an RKS
29. element of FET
RKS
30. Tutorial

4
 Full protection and
security - Concept -
31. Standard of liability AMD
Protection against AMD
physical violence and
Full protection and security
harassment – Legal
- Concept - Standard of
protection -
liability - Protection against Relationship with
physical violence and customary
harassment – Legal 32. international law
protection - Relationship Access to justice, Fair AMD
with customary international procedure and Denial
Other Lecture &
law – Access to justice, Fair 33. of Justice
standard of Discussion,
procedure and Denial of Monetary Transfer AMD
treatment
Justice - Concept – Provisions – Concept Demonstration
(FPS,
Monetary Transfer 34. – significance – types
Access to
Justice, Provisions – Concept – Umbrella Clause – AMD
4 MTP, significance – types - Concept –
Umbrella Umbrella Clause – Concept Significance - Non-
Clause and – Significance - Non- 35. precluded measures
Non- precluded measures – AMD
Precluded General exception clauses in 36. Tutorial
Measures) BITs – Significance of non- General exception AMD
precluded measures clause – clauses in BITs –
Interpretation by investment Significance of non-
precluded measures
treaty arbitration tribunals
37. clause
special reference to the
Interpretation by AMD
Argentine economic crisis of investment treaty
2001 - essential security arbitration tribunals
interest clause in BITs. special reference to
the Argentine
economic crisis of
38. 2001
AMD
Essential security
39. interest clause in BITs
AMD

40. Tutorial
Expropriation as a principle Expropriation as a
Expropriat in international law – principle in
5 difference with national law international law –
ion
– understanding difference with
expropriation in 41. national law RKS

5
 international investment law Understanding
- regulatory taking and expropriation in
direct taking – types of international
expropriation – Direct investment law -
Expropriation – Creeping regulatory taking and
Expropriation – Partial 42. direct taking RKS
Expropriation – linkages Types of
between expropriation and expropriation – Direct
regulatory discretion - treaty 43. Expropriation Lecture & RKS
exceptions in expropriation Discussion,
- relationship between
Demonstration
expropriation and regulatory
discretion - Court Actions as 44. Tutorial RKS
expropriation. Creeping
Expropriation &
45. Partial Expropriation RKS
Linkages between RKS
expropriation and
46. regulatory discretion
Treaty exceptions in RKS
47. expropriation
Relationship between RKS
expropriation and
48. regulatory discretion
Court Actions as
49. expropriation RKS

50. Tutorial RKS

Direct disputes
State v. State dispute - between states -
Diplomatic Protection - Investor v. State
Position under traditional 51. dispute (ISDS) AMD
international law -
Conditions for diplomatic Investor v. State
protection - Usefulness of dispute (ISDS) - role
diplomatic protection - of domestic courts in
Disadvantages of diplomatic 52. ISDS AMD
protection - Direct disputes
Investment
6. between states - Investor v.
arbitration
State dispute (ISDS) - role Arbitration institutions
of domestic courts in ISDS - - ICSID - ICSID
Arbitration institutions - 53. Additional Facility AMD
ICSID - ICSID Additional Non-ICSID
Facility ▪ Non-ICSID investment arbitration
investment arbitration – – Limitations of ISDS
Limitations of ISDS – Fork – Fork in the Road
in the Road clause – 54. clause AMD
Exhaustion of Local Exhaustion of Local
Remedies Clause. 55. Remedies Clause AMD
AMD/R
56. Tutorial KS
6
 AMD/R
57. Revision KS
AMD/R
58. Revision KS
AMD/R
59. Revision KS
AMD/R
60. Revision KS

Readings:

1. Dolzer, Rudolf and C. Schreuer (2012). Principles of International Investment Law (Oxford University
Press: Oxford: 2nd edition),
2. G Van Harten (2007) Investment Treaty Arbitration and Public Law (OUP: Oxford).
3. J Salacuse (2010), The Law of Investment Treaties, (OUP: Oxford),
4. K Vandevelde (2010) Bilateral Investment Treaties: History, Policy and Interpretation (OUP: New
York)
5. K Yannaca-Small (ed), Arbitration Under International Investment Agreements (Oxford University
Press, Oxford/New York, 2010)
6. M Sornarajah (2004). ‘The International Law on Foreign Investment’ (Cambridge University Press: 2nd
edition: Cambridge)
7. R Klager (2011) Fair and Equitable Treatment in International Investment Law (CUP: Cambridge).
8. Stephan Schill, Multilateralization of International Investment Law (Cambridge University Press,
Cambridge/New York, 2009)
9. S Schill (ed), International Investment Law and Comparative Public Law (2010).
10. Guzman, Andrew T., Why LDCs Sign Treaties That Hurt Them: Explaining the Popularity of Bilateral
Investment Treaties, Virginia Journal of International Law, (1998).
11. Hepburn, J., Domestic Law in International Investment Arbitration (OUP, 2017).
12. Kim, C. M., Issue Conflict in Investor-State Dispute Settlement: Focusing on the Challenges against
Professor Francisco Orrego Vicuna in CC/Devas et al. v. India and Repsol v. Argentina, 27 Georgetown
Journal of Legal Ethics 621-641 (2014);
13. Porterfield, Matthew C., Exhaustion Of Local Remedies In Investor-State Dispute Settlement: An Idea
Whose Time Has Come?, 41 Yale Journal of International Law 1-12 (2015),
14. Schill, S. W., Enabling Private Ordering: Function, Scope and Effect of Umbrella Clauses in
International Investment Treaties, 18(1) Minnesota Journal of International Law 1 (2009);
15. Small, K. Yannaca (eds.), Arbitration under International Investment Agreements (OUP, 2010)
16. Subedi, S., International Investment Law (Hart Publishing: Oxford, 2008)
17. Walde, T. W., The “Umbrella” Clause in Investment Arbitration: A Comment on Original Intentions
and Recent Cases, 6 Journal of World Investment & Trade 183 (2005).
18. Vandevelde, K.J., Reshaping the Investor-State Dispute Settlement System: Journeys for the 21st
Century 23(3) Transnational Corporations 103-107 (2016)
19. Brown, C. And K. Miles, Evolution In Investment Treaty Law And Arbitration (CUP 2011).
20. Chaisse, Julien et.al. (eds.), Asia’s Changing International Investment Regime (Springer, 2017)
21. Cole, T., The structure of investment arbitration, (Routledge 2013).
22. Dodge, W.S., Investor-State Dispute Settlement Between Developed Countries: Reflections on the
Australia-United States Free Trade Agreement. 39(1) Vanderbilt Journal of Transnational Law 1-37
(2006).

Case References:

7
1. People’s Republic of Bangladesh, ICSID Case No ARB/05/07 (Decision on Jurisdiction)
2. Fedax v. Venezuela, 37 ILM 1378 (1998)
3. Salini v Morocco, Decision on Jurisdiction, 23 July 2001, 6 ICSID Reports 400;
4. Malaysian Historical Slavors v Malaysia, Decision on Annulment, 16 April 2009.
5. Saipem Spa v The People’s Republic of Bangladesh, ICSID Case No ARB/05/07 (Decision on
Jurisdiction) –
6. White Industries Australia Limited v Republic of India, Final Award UNCITRAL (30 November 2011).
- Petrobart Limited v Kyrgyzstan (Award) SCC Case No 126/2003 (29 March 2005); - AMTO LLC v
Ukraine (Final Award), SCC Case No 080/2005 (26 March 2008)
7. Maffezini v. Spain, ICSID Case No. ARB/97/7. Decision on Jurisdiction, 25 January 2000, 16 ICSID
Rev-FILJ 212 (2001).
8. Camuzzi International S.A. v. The Argentine Republic, ICISD Case.
9. CMS Gas Transmission Co v Argentina, ICISD Case No ARB/01/8;
10. Enron Corporation v Argentina, ICSID Case No ARB/01/3;
11. Enron Creditors Recovery Corp v Argentina ICSID Case No ARB/01/3 (Annulment Proceeding);
12. Sempra Energy International v Argentina, ICSID Case No ARB/02/16;
13. Sempra Energy International v Argentina, ICSID Case No ARB/02/16 (Annulment Proceedings);
14. LG&E Energy Corporation v Argentina, ICISD Case No ARB/02/1; 7 ∙
15. Continental Casualty Company v Argentina, ICSID Case No ARB/03/9.
16. Methanex v United States (Final Award), UNCITRAL-NAFTA, 3 August 2005
17. SD Myers v. Canada, 40 ILM 1408 (2001).
18. Metalclad v. Mexico ICSID Case No ARB (AF)/97/1 available on www.naftaclaims.com or 40 ILM 36
(2001).
19. Santa Elena SA v. Costa Rica, ICSID Case No. ARB/96/1 Award 17 February 2000 available at
www.worldbank.org/icsid/cases/santaelena_award.pdf or 15 ICSID RevFILJ 169 (2000).
20. Methanex v United States (Final Award), UNCITRAL-NAFTA, 3 August 2005
21. TECMED v Mexico, Award, 29 May 2003, 10 ICSID Reports 134.
22. ADC Affiliate Ltd v Republic of Hungary, ICSID Case No ARB/03/16, 2 October 2006
23. El Paso v Argentina, ICSID Case No. ARB/03/15, 31 October 2011
24. Total SA v Argentina, ICSID Case No. ARB/04/01, 27 December 2010.

N.B. The above list of readings and cases are indicative and students are requested to refer further sources
and cases.

Assessment Plan
Examination Type Marks
Continuous Internal Assessment Written Test 10
Other Component 10
End Semester Theory Written 80
End Semester Practical Practical / Viva-Voce

Faculty Signature: Date: ………………….

Checked by:
8
_________________________
Signature and seal of Dean