From Bilateral Arbitral Tribunals and Investment Courts to a Multilateral Investment Court

Marc Bungenberg is Director of the Europa-Institut and a professor of European law and public international law at Saarland University/Germany as well as permanent visiting professor at the University of Lausanne/Switzerland. His main fields of research are European (Common Commercial Policy, public procurement and state aid law) and international economic law, particularly international investment and WTO law, including especially trade remedies. August Reinisch has been a professor of international and European law at the University of Vienna since 1998. He currently serves as Head of the Section of International Law and International Relations and as Director of the LL.M. Program in International Legal Studies. He is a Member of the International Law Commission, a membre associé of the Institut de droit international, President of the Austrian Branch of the ILA and President of the German Society of International Law. He has served as arbitrator in investment cases mostly under ICSID and UNCITRAL Rules.

Executive Summary.- Introduction.- Targets for the Reorganization of the Investment Protection Regime.- Design and Implementation of a Two-Tiered MIC.- Applicable Law.- Pronoucement of Decisions and Consequences.- Recognition and Enforcement of Awards.-Possibilities for the Establishment of an MIC and a Possible Connection to Existing Institutions and System Conformity.- Pure Appelate Body/Pur Appeal Mechanism - "Multilateral Investment Appeals Mechanism".