Legitimacy Concerns in Investor State Dispute Settlement — Neriman Kılıç

Arbitration has become the most common method for the investor state disputes settlement ISDS and under the current system of ISDS disputes are not settled by a single adjudicative body instead investment arbitration is conducted by a number of tribunals The fragmented nature of the system of ISDS and International Investment Law IIL coupled with the lack of a regulatory body has given rise to certain concerns of illegitimacy such as the issues of regulatory chill lack of transparency consistency and coherence Considering the significance of the Foreign Direct Investment FDI for all parties involved it is essential to have a legitimate and well organised system for the adjudication of investment disputes Furthermore as investment dispute frequently involve issues that relate to public interest it is argued that to be considered legitimate the adjudication system should be reliable predictable consistent and transparent The absence of these key features is what creates the legitimacy crisis that the current system is allegedly suffering Therefore it is extremely important that the issue of legitimacy of the system of ISDS and possible reforms are thoroughly and comprehensively studied and discussed this research fulfils this need by evaluating the concept of legitimacy and the concerns surrounding the system of ISDS in great detail

Arbitration has become the most common method for the investor state disputes settlement ISDS and under the current system of ISDS disputes are not settled by a single adjudicative body instead investment arbitration is conducted by a number of tribunals The fragmented nature of the system of ISDS and International Investment Law IIL coupled with the lack of a regulatory body has given rise to certain concerns of illegitimacy such as the issues of regulatory chill lack of transparency consistency and coherence Considering the significance of the Foreign Direct Investment FDI for all parties involved it is essential to have a legitimate and well organised system for the adjudication of investment disputes Furthermore as investment dispute frequently involve issues that relate to public interest it is argued that to be considered legitimate the adjudication system should be reliable predictable consistent and transparent The absence of these key features is what creates the legitimacy crisis that the current system is allegedly suffering Therefore it is extremely important that the issue of legitimacy of the system of ISDS and possible reforms are thoroughly and comprehensively studied and discussed this research fulfils this need by evaluating the concept of legitimacy and the concerns surrounding the system of ISDS in great detail

Arbitration has become the most common method for the investor state disputes settlement ISDS and under the current system of ISDS disputes are not settled by a single adjudicative body instead investment arbitration is conducted by a number of tribunals The fragmented nature of the system of ISDS and International Investment Law IIL coupled with the lack of a regulatory body has given rise to certain concerns of illegitimacy such as the issues of regulatory chill lack of transparency consistency and coherence Considering the significance of the Foreign Direct Investment FDI for all parties involved it is essential to have a legitimate and well organised system for the adjudication of investment disputes Furthermore as investment dispute frequently involve issues that relate to public interest it is argued that to be considered legitimate the adjudication system should be reliable predictable consistent and transparent The absence of these key features is what creates the legitimacy crisis that the current system is allegedly suffering Therefore it is extremely important that the issue of legitimacy of the system of ISDS and possible reforms are thoroughly and comprehensively studied and discussed this research fulfils this need by evaluating the concept of legitimacy and the concerns surrounding the system of ISDS in great detail