Corruption in International Investment Arbitration

Introduction

This is the first comprehensive study of corruption in international investment arbitration. The book considers the limited effectiveness of efforts to combat transnational corruption in international law and the emergence of international investment arbitration as a singular means for effective control of corruption within the international legal order.

Case Law and Reforms

The case law on corruption by investment tribunals is studied exhaustively, jurisprudential trends are identified, and reforms aimed at enhancing the effectiveness and fairness of investment arbitration as a mechanism to combat corruption are proposed.

Part I: Corruption in Foreign Investment

Divided into three parts, part I focus on the phenomenon of corruption in foreign investment and attempts at its control through international law.

Part II: Case Law Analysis

Part II analyses the available case law in international investment arbitration dealing with corruption. Llamzon identifies nine distinct trends emerging from the case law and provides a table summarizing the key areas of corruption decision-making and each relevant tribunal's approach, which is an invaluable tool for practitioners engaging in “live” issues of corruption within arbitral proceedings.

Part III: Implications and Framework

Part III reflects on the implications of these trends for both the “supply” and “demand” sides of corruption in international law, and proposes an integrative framework of decision for corruption issues in international investment arbitration.