REDEFINING INVESTMENT ARBITRATION LAW: THE CASE OF KOSOVO
by Dr. Ardeshir Atai

Investment protection standards contained in international investment treaties are enforceable though
private right of action against host states in an independent and neutral forum. The investor‐state dispute
settlement (ISDS) system provides investors access to international arbitration when the host state
expropriates or imposes arbitrary regulation to tax economic profits of investments. Investor protection
rules benefits foreign investor by reducing the investment risk premium and the costs of importing
capital for the host government. This article outlines the rationale for international claims adjudication
procedures involving private investors and sovereign states. The author will highlight the; 1) weakness of
customary international law of diplomatic protection and inter‐state arbitration, 2) role of bilateral
investment treaties (BITs) in promoting and attracting global capital, 3) benefits of ICSID arbitration, and
4) foreign investment law and arbitration in Kosovo. Last section is conclusion

Arbitration of Investment Disputes under Iranian Investment Treaties

Arbitration of investment
disputes under Iranian
investment treaties
Ardeshir Atai
Atai & Associates Law Firm, Tehran, Iran
Abstract
Purpose – The purpose of this paper is to examine the remedies available under Iranian investment
treaties for settlement of investment disputes. This includes the obligation of the Iranian Government to
provide foreign investors access to international arbitration. The sensitivity of the controversial Iranian
nuclear program and the imposition of economic and financial sanctions on Iran will lead to the
termination of many contracts between companies from Europe and the West and Iran, therefore, a
viable solution must exist to address the rights and remedies of foreign investors. This article aims to
provide an insight into Iranian treaties.
Design/methodology/approach – The main method was a survey of different treaties signed by Iran.
Findings – The discussion revealed that there are currently more than 50 treaties signed and ratified
by Iran which provide arbitration as a dispute resolution forum. There are many treaties between the
member countries of the European Union which make it important for the research. Iranian treaties
guarantee international law remedies to foreign companies with investment in Iran by allowing them
to seek redress in an international forum.
Practical implications – Iran has not signed the ICS1D Convention, meaning that the arbitration
proceedings will be subject to ad hoc arbitration rules of UNCITRAL. Furthermore, ICSID rules on
enforcement of the award do not apply. Therefore, the winning party must go through the Iranian courts
to enforce its awards.
Originality/value – The value of the paper is to government organization, international institutions
and multinational companies with substantial economic interest in Iranian energy and natural
resources. For the first time, the topic has been covered in a research paper. There are no articles in
Iranian bilateral investment treaties (BITs) addressing dispute resolution through arbitration. This is
the first piece of work that actually conducted a thorough analysis of Iranian BITs.
Keywords Arbitration, International investments, Iran