Book contents
- The Legitimacy of Investment Arbitration
- Studies on International Courts and Tribunals
- The Legitimacy of Investment Arbitration
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- 1 Introduction: The Legitimacy Crisis and the Empirical Turn
- 2 The International Investment Regime and Its Discontents
- Part I Process Legitimacy
- Part II Process Legitimacy
- Part III Output Legitimacy
- 10 The West and the Rest: Geographic Diversity and the Role of Arbitrator Nationality in Investment Arbitration
- 11 Mixing Methodologies in Empirically Investigating Investment Arbitration and Inbound Foreign Investment
- 12 Double Jeopardy? The Use of Investment Arbitration in Times of Crisis
- 13 Who Has Benefited Financially from Investment Treaty Arbitration? An Evaluation of the Size and Wealth of Claimants
- 14 Explaining China’s Relative Absence from Investment Treaty Arbitration
- Part IV Legitimation Strategies
- Index
13 - Who Has Benefited Financially from Investment Treaty Arbitration? An Evaluation of the Size and Wealth of Claimants
from Part III - Output Legitimacy
Published online by Cambridge University Press: 06 January 2022
- The Legitimacy of Investment Arbitration
- Studies on International Courts and Tribunals
- The Legitimacy of Investment Arbitration
- Copyright page
- Contents
- Figures
- Tables
- Contributors
- 1 Introduction: The Legitimacy Crisis and the Empirical Turn
- 2 The International Investment Regime and Its Discontents
- Part I Process Legitimacy
- Part II Process Legitimacy
- Part III Output Legitimacy
- 10 The West and the Rest: Geographic Diversity and the Role of Arbitrator Nationality in Investment Arbitration
- 11 Mixing Methodologies in Empirically Investigating Investment Arbitration and Inbound Foreign Investment
- 12 Double Jeopardy? The Use of Investment Arbitration in Times of Crisis
- 13 Who Has Benefited Financially from Investment Treaty Arbitration? An Evaluation of the Size and Wealth of Claimants
- 14 Explaining China’s Relative Absence from Investment Treaty Arbitration
- Part IV Legitimation Strategies
- Index
Summary
The legitimacy of ISDS appears to depend in part on an expectation that it benefits smaller businesses, not just large multinationals and the super-wealthy. This chapter collects data on size and wealth of the foreign investors that have brought claims and received monetary awards due to ISDS. Categories for the size and wealth of foreign investors are compared to the size of damage awards, which helps determine that the primary beneficiaries in ISDS cases have been companies with annual revenue exceeding US$1 billion and individuals with net wealth in excess of US$100 million. The main finding is that the beneficiaries of ISDS-ordered financial transfers, in the aggregate, have overwhelmingly been wealthy individual investors and large companies – and especially extra-large companies. The authors also note that the awards gained by small companies are not so different from their legal costs.
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- The Legitimacy of Investment ArbitrationEmpirical Perspectives, pp. 394 - 423Publisher: Cambridge University PressPrint publication year: 2022
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