Corruption in Investment Treaty Disputes: From Grey to Black and White?
Banishing the grey in favour of black and white, arbitrators are entrusted with making binary judgments within legal systems that struggle to capture the nuances of real-life situations. The task is further complicated by trans border corruption, where cultural differences and bureaucratic intricacies obscure accountability.
International Investment Arbitration' effectiveness in addressing corruption remains limited, as evidenced by the scarcity of cases where corruption significantly impacts outcomes. Challenges include investigating bribery, standards of proof and consequences of corruption. Tasked with deciding disputes arising from over 3,000 investment treaties, arbitrators often speak in abstract terms when reaching their decisions.
Despite these hurdles, Investment Arbitration holds promise in reconciling anti-corruption efforts and protecting foreign investment. We argue this through a case study (Agility Public Warehousing Company K.S.C.P. v Republic of Iraq) bringing together leading counsel, investigators, and foreign investors.
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