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Metalclad v. Mexico

Metalclad v. Mexico The story of Metalclad Corporation's experience in the Mexican State of San Luis Potosi is more than just another cautionary talc about the risks of investment in a foreign country. It is also a story about how foreign investment law has evolved from a frequently overlooked curiosity of public international law into an essential and fast- growing component of something called "international economic law". The vehicle for this evolution has been the North American Free Trade Agreement (NAFTA), a regional free trade agreement into which was inserted a version of the bilateral investment treaty (BIT) that the United States and other developed countries have been using to formalize their investment relations with less developed countries for a number of decades. Metalclad has enjoyed a starring role in this story simply by virtue of the fact that its claim was the first to result in a Final Award that found favour of the investor. For international lawyers, Metalclad's story can best be told in three parts: - the Final Award;1 - the judicial review decision on the Final Award; and - the political and legal "fall-out" from this and other NAFTA awards. The first part of this article will http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Metalclad v. Mexico

Journal of World Investment and Trade , Volume 2 (4): 27 – Jan 1, 2001

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190001X00022
Publisher site
See Article on Publisher Site

Abstract

The story of Metalclad Corporation's experience in the Mexican State of San Luis Potosi is more than just another cautionary talc about the risks of investment in a foreign country. It is also a story about how foreign investment law has evolved from a frequently overlooked curiosity of public international law into an essential and fast- growing component of something called "international economic law". The vehicle for this evolution has been the North American Free Trade Agreement (NAFTA), a regional free trade agreement into which was inserted a version of the bilateral investment treaty (BIT) that the United States and other developed countries have been using to formalize their investment relations with less developed countries for a number of decades. Metalclad has enjoyed a starring role in this story simply by virtue of the fact that its claim was the first to result in a Final Award that found favour of the investor. For international lawyers, Metalclad's story can best be told in three parts: - the Final Award;1 - the judicial review decision on the Final Award; and - the political and legal "fall-out" from this and other NAFTA awards. The first part of this article will

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2001

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