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Multiple and Conflicting International Arbitral Awards

Multiple and Conflicting International Arbitral Awards and I. INTROI�UCTICN International arbitration's perennially expanding docket attests to its success as an alternative to national court litigation. Indeed, arbitration has become the universal "default setting" for the settlement of international investment and other commercial disputes. Like all success stories, however, this one has generated its own problems. The more options parties have to resolve their international disputes in different fora, the greater the risk of multiple and conflicting awards. The roughly 2,000 bilateral investment treaties now in force around the world, as well as multilateral investment treaties such as the North American Free Trade Agreement (NAFTA)-' and the European Energy Charter,3 simply aggravate this risk. II. BILATERAL INVESTMENT TREATIES: THE CME DEBACLE The most graphic example of this troubling phenomenon is the recent saga of Ronald Lauder's investment in the Czech Republic (known as CME Czech Republic), in which one investment dispute has produced two utterly conflicting awards in arbitrations against the Czech Republic, as well as national litigation in the Czech Republic, the United States and Sweden.' The CME dispute arose out of the Czech government's interference with a television broadcasting licence issued in 1993 to Central European Television 21 (CET 21), the Czech Republic's http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Multiple and Conflicting International Arbitral Awards

Journal of World Investment and Trade , Volume 4 (2): 12 – Jan 1, 2003

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190003X00336
Publisher site
See Article on Publisher Site

Abstract

and I. INTROI�UCTICN International arbitration's perennially expanding docket attests to its success as an alternative to national court litigation. Indeed, arbitration has become the universal "default setting" for the settlement of international investment and other commercial disputes. Like all success stories, however, this one has generated its own problems. The more options parties have to resolve their international disputes in different fora, the greater the risk of multiple and conflicting awards. The roughly 2,000 bilateral investment treaties now in force around the world, as well as multilateral investment treaties such as the North American Free Trade Agreement (NAFTA)-' and the European Energy Charter,3 simply aggravate this risk. II. BILATERAL INVESTMENT TREATIES: THE CME DEBACLE The most graphic example of this troubling phenomenon is the recent saga of Ronald Lauder's investment in the Czech Republic (known as CME Czech Republic), in which one investment dispute has produced two utterly conflicting awards in arbitrations against the Czech Republic, as well as national litigation in the Czech Republic, the United States and Sweden.' The CME dispute arose out of the Czech government's interference with a television broadcasting licence issued in 1993 to Central European Television 21 (CET 21), the Czech Republic's

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2003

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