INTERNATIONAL TRADE LAW AND FOREIGN INVESTMENTS B

General Module

Course Sheet

Course code:

000385L B

Academic Year of enrolment:

2023

Year of supply:

2023/2024

Type of Course:

Characterising

Degree:

Course of 2nd Cycle Degree in LEGAL SCIENCES FOR INTERNATIONALISATION AND BUSINESS INNOVATION

Disciplinary Sector:

International Law

Is part of:

INTERNATIONAL TRADE LAW AND FOREIGN INVESTMENTS

Location:

PESCARA

Credits:

Programme Year:

Professor and Collaborators:

FRANCESCHELLI FERDINANDO

Cycle:

Second semester

Hours of classroom activity:

Individual study hours:

102

Prerequisites:

Prerequisites:
Knowledge of international law is highly recommended.

Objectives

Learning Objectives:
The course aims to deepen the knowledge of the international discipline related to the topic of international investment law and the topic of foreign sovereign debt.

Expected learning outcomes:
At the end of the course, students will be able to identify the international framework relating to the topic of international investment law and the topic of foreign sovereign debt.
Students will then be able to apply the theoretical knowledge acquired by correctly setting up the treatment of concrete cases and formulating solid arguments related to them.

Knowledge and understanding:
Students are expected to demonstrate to:
- know the main international institutions and organisations active in the field of foreign investment;
- know and understand the basic rules of investment protection treatment and be able to apply the principles and instruments in the field of foreign investment;
- know the internationalisation process and to know how to apply the instruments;
- know the subject of foreign sovereign debt.

Autonomous assessment capacity:
Students are expected to demonstrate that they are able to make appropriate connections between international investment and foreign sovereign debt rules and other general and treaty rules of international law.

Communication skills:
With regard to the subject of foreign investment and foreign sovereign debt, students should demonstrate their ability to
- draw up dossiers and report on concrete cases;
- solve problems of concrete realisation;
- correctly set out the discussion on specific issues, and formulate appropriate arguments.

Contents

Contents:
The course covers the topic of international investment law, dealing with the evolution of the discipline of foreign direct investment law, its legal regime, application problems and solutions in practice.
The course also deals with foreign sovereign debt, covering the theoretical framework, application problems and solutions in practice.

Extended Syllabus

Extended content:
- Origin and Development of International Investment Law
- The Failure of the Multilateral Approach
- The World Bank's contribution to the development of the legal regime for foreign investment
- Bilateral agreements on investment promotion and protection and regional and sectoral agreements
- The EU's competence over BITs and IIAs
- The notion of foreign investment
- The notion of foreign investor
- The protection of foreign private investment
- The insurance of foreign investments: the MIGA
- The settlement of investment disputes: the investment arbitration
- The ICSID: Structure, jurisdiction requirements and procedure
- The 'legitimacy crisis' of the international investment law regime
- The 'subjective' notion of investment and the emergence of a foreign investor's obligation of good faith
- The protection of shareholders' rights
- Indirect expropriations and regulatory measures
- The phenomenon of foreign debt
- The notion of foreign sovereign debt
- - State default and external debt restructuring: the Paris Club and the London Club
- The 'concerted debt strategy', the Baker Plan and the Brady Plan
The work of international financial institutions for debt relief: the Heavily Indebted Poor Countries and the Multilateral Debt Relief Initiative
- Foreign sovereign debt initiatives at international summits
- Procedures and rules for concerted restructuring: the Sovereign Debt Restructuring Mechanism and collective action clauses
- Regional instruments: the European Stability Mechanism
- The applicability of the state of necessity and force majeure to justify non-fulfilment of obligations towards creditors
- The judicial settlement of disputes between the debtor state and foreign private creditors: the problem of immunity from jurisdiction
- The role of ICSID tribunals in the resolution of disputes concerning financial instruments and foreign debt
- The Abaclat case and the Ambiente Ufficio SpA case
- The Postova Banka case
- Sovereign debt and vulture funds

Recommended Bibliography

Bibliography/Readings:

Suggested Textbook:
- M. R. Mauro, Diritto internazionale dell'economia. Teoria e prassi delle relazioni economiche internazionali, E.S.I., Naples, 2019.
Texts to be consulted:
- A. Arena, J. Martire, R. Nocerino, A. Torino, Il codice dell'Organizzazione Mondiale del Commercio, Editoriale Scientifica, Naples, 2008.
- B. Nascimbene, Unione europea - Trattati, VI ed., Giappichelli, Torino, 2021.

Additional teaching material and documents will be uploaded on the e-learning platform.

Teaching Methods

Teaching methods:
The course is structured in a theoretical part and a practical part divided as follows:
- classroom lectures on international foreign investment law and foreign sovereign debt;
- seminars, workshops and simulations of practical cases to be solved and techniques for the preparation and drafting of in-depth practical dossiers on the topics of foreign investment and foreign sovereign debt.

Evaluation methods

Verification of learning:

Assessment and examination methods:
Assessment of student learning will be an oral test.
The arguments reflect those dealt with during the teaching and included in the programme/syllabus.
The final oral test is the same for both attending and non-attending students.
Partial examinations: a partial examination is foreseen in order to facilitate the preparation of the final exam, reserved to the attending students.
The final mark is in thirtieth percentile.

Contacts/More Information

Additional information:
E-mail: ferdinando.franceschelli@unich.it

Student reception is scheduled on the day and time indicated on the teacher's page:

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

Aree

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