Parting ways: The impact of mutual termination of investment treaties on investor rights

Abstract

Several States have terminated international investment agreements (IIAs) in recent years-some alarmed at unexpected outcomes in certain investor-State cases, and others simply updating their IIAs as they conclude wider economic partnership agreements. States' attempts to extinguish investor rights through the consensual termination of an IIA raise complex legal issues. As a threshold matter, investors are capable of deriving legal 'rights' under an IIA that may interfere with attempts at termination. However, the grant of such rights under an IIA depends on its specific wording and context. Moreover, although a pre-existing treaty breach for which a formal claim has already been brought can..