The International Centre for Settlement of Investment Disputes (ICSID) was established as a forum designed to promote and protect investment on a worldwide basis.1 Investors, that is, private actors, were given a remedy which they could use independently under their own responsibility, without requiring the assistance of their State of nationality. Thus, the numerous bilateral investment (protection) treaties (BITs) which lay down substantive rules and principles for the treatment of foreign investment2 were given real teeth. An effective procedure was made...
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