The First Contractor Claims against the ISA: An ISDS-Like Dispute under UNCLOS?

By Nicolò Andreotti[1] Introduction The initiation of two proceedings before the Seabed Disputes Chamber (SDC) of the International Tribunal for the Law of the Sea (ITLOS) marks a significant development in the governance of deep seabed mining. The disputes concern mineral activities conducted in the deep seabed beyond national jurisdiction (the “Area”), a vast region… Read More The First Contractor Claims against the ISA: An ISDS-Like Dispute under UNCLOS?

Rethinking the Right to Development in International Investment Law: A Capability Approach

By Zhang Qian[1] Introduction International investment law (IIL) has long claimed development as part of its legitimating rationale. The foundational premise of the bilateral investment treaty (BIT) regime—that protecting foreign capital from sovereign interference will, through market mechanisms, translate into host-state development—has shaped the architecture of thousands of treaties and the jurisprudence of hundreds of… Read More Rethinking the Right to Development in International Investment Law: A Capability Approach

Making Expropriation ‘Lawful’ again? Examining the Debate Around Payment of Compensation as a Condition for Legality

Kartik Sharma[1] Introduction The determination of the adequate standard of compensation for expropriation remains a widely contested issue in International Investment law. Expropriation is prohibited in International Investment Treaties (IIAs) except for situations where certain criteria are met.  State parties can lawfully expropriate foreign investors’ properties only if they meet the listed conditions of legality.… Read More Making Expropriation ‘Lawful’ again? Examining the Debate Around Payment of Compensation as a Condition for Legality

Cracking a Sledgehammer with a Nut? Provisional Measures and the Climate Governance Dilemma in ISDS

By Fang Gu[1]  Introduction International investment law is increasingly confronting a problem it was never designed to solve: climate change. As States accelerate decarbonization policies to comply with international climate commitments, investor–State disputes arising from fossil fuel phase-outs, subsidy reforms, and environmental regulation have become increasingly common. Yet the structure of investor–State dispute settlement (ISDS)… Read More Cracking a Sledgehammer with a Nut? Provisional Measures and the Climate Governance Dilemma in ISDS

Biannual Review

Introduction The first half of 2026 shows a clear global trend toward stronger enforcement of investment arbitration awards and a continued willingness of courts outside the EU to uphold investor protections despite growing political and regulatory resistance within Europe. Across North America, Asia, and parts of Europe, courts have consistently reinforced the binding nature of… Read More Biannual Review

Closing the Accountability Gap: How Investment Treaties Can Hold Private Space Investors Responsible for Orbital Debris

By Simeng Wang[1] Introduction On 29 March 2026, SpaceX lost contact with Starlink-34343 after what the company described only as an ‘anomaly’. Space-tracking firm LeoLabs detected tens of debris fragments in the satellite’s vicinity. SpaceX did not disclose the cause and launched a further 29 Starlink satellites approximately six hours later. A near-identical event had… Read More Closing the Accountability Gap: How Investment Treaties Can Hold Private Space Investors Responsible for Orbital Debris

The Rule of Lawyers: The Return of Ecuador to ISDS

By Sebastián Espinosa Velasco[1] In 2026, Ecuador’s Constitutional Court authorized investor-State arbitration without following the constitutional process required to amend Article 422, despite a recent referendum and substantial precedent expressly stating the contrary. It bypassed that popular mandate, cast aside recent precedent, and restored investor-State arbitration by interpretation. Through selectively adapted categories drawn from international… Read More The Rule of Lawyers: The Return of Ecuador to ISDS

Nationality Planning by Natural Persons: What Jason Yu Song v China Reveals About the Limits of Denial of Benefits

By Simeng Wang1 Introduction  In the April 2025 UNCITRAL Working Group III discussions, Draft Article 17 on the denial of benefits (DOB), which aims to address “treaty shopping,” once again became a focal point. Although this provision attempts to enhance legal predictability by establishing an eligibility filter, the current reform approach fails to adequately account for the specificities of nationality planning by natural persons. … Read More Nationality Planning by Natural Persons: What Jason Yu Song v China Reveals About the Limits of Denial of Benefits