This chapter focuses on particular challenges in the interpretation of investment treaties before international tribunals. It is not intended to be an exhaustive and comprehensive study (that challenge remains) but rather a commentary on selected issues I have recently noted as they occurred in my practice.1 Examples are often drawn from the generally quite challenging formulations of the Energy Charter Treaty, the world's major multilateral investment treaty with over 50 member States. A treaty—like any legal or otherwise authoritative text—does not, contrary to...
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