International investment law is one of the most contentious areas of international law today. The topic is relevant to New Zealand given the inclusion of a Chapter on Investment Protection and investor/State arbitration in several free trade agreements and given the increasing importance of foreign investment within New Zealand's economy.

This course will assess the standards of protection that States have to grant to foreign investors by virtue of international investment agreements: the controversial fair and equitable treatment and national treatment among others; the protection against direct expropriation and when new regulation adopted by a State can be considered as an indirect expropriation of a foreign investment that has to be compensated by the State and its tax payers. The paper will also examine the positive and negative features of investor/State arbitration; and some of the most contentious aspects of this field of law: its interactions with the protection of human rights, aboriginal rights, health and the environment. We will look at these topics together and discuss international awards with a view to understanding their implications for host States, foreign investors, and civil societies.

We will explore cases dealing with States' actions and regulations in several continents. If you come, for instance, from China, India, Bangladesh, Sri Lanka or any member of the European Union, you will be able to understand or enhance your understanding of your country's policy and actions concerning international investment agreements.

Obviously, we will also look at the New Zealand regulation of foreign investment: the Overseas Investment Act 2005. In sum, this paper has a local and global focus. You will grasp the law, the history and the politics of this domain.

Classes will generally follow a lecture format, though there will be ample opportunity for class discussion. The course is conducted with the assistance of Powerpoint-based lectures. Students are expected to have completed the assigned readings in time for the class and should be prepared to discuss and analyze the relevant reading materials in an interactive classroom setting.

We will have a 10 minute break approximately mid-way through each class.

IMPORTANT INFORMATION

The purpose of this paper is to make sure you carry out a research project that is meaningful to you.

To this end, I will be available to offer you advice on drafts of your research project and/or your final essay.

Online support for this paper is provided via Moodle.

Students should expect to spend 300 hours in total on this paper. In addition to lecture attendance, significant time will need to be spent on background and complementary reading. Students should allow for periods of more-focused research time in the preparation of assignments.