BASIC PECULIARITIES OF CONSIDERATION OF CASES ON INVESTMENT DISPUTES IN ECONOMIC COURTS

This article is based on giving essential information about significant role of the International Court of Justice in the settlement of international investment disputes, specifically through the currently unused mechanism of the Convention on the Settlement of Investment Disputes. Also, it gives a basic overview of the most crucial legal questions related the selection of the appropriate forum for investment disputes between States and private parties. States, especially developing states, have to choose carefully which arbitral institutions and rules they make available to investors in their investment treaties. They should evaluate the institutions’ governing structures and who is behind the decision making, including in important areas such as the amendment of arbitration rules and arbitrator appointments. Where a state is not satisfied with the applicable arbitral rules and processes, it will have different degrees of influence for change depending on the target institution.