Professor Mark Feldman’s invited book chapter on investment treaty arbitration was published, along with other leading scholars and practitioners from throughout the world, in a World Bank book commemorating the 50th anniversary of ICSID, The International Centre for Settlement of Investment Disputes. Building International Investment Law: The First 50 Years of ICSID was published in December 2015 and “celebrates the first 50 years of ICSID by showcasing the landmark cases that have been decided under its auspices.” The Book, edited by Meg Kinnear, Secretary General of ICSID, includes 50 chapters, each authored by an expert on the chapter’s particular focus.
Professor Feldman’s invited chapter, “Denial of Benefits after Plama v. Bulgaria,” analyzes the impact of the 2005 Decision on Jurisdiction in Plama Consortium Limited v. Republic of Bulgaria, which, for the first time, provided extensive treatment of a denial of benefits provision. The 2005 Decision has greatly influenced the operation of denial of benefits provisions, and has been the subject of scrutiny by scholars and practitioners. Professor Feldman’s analysis focuses on one finding of the Plama Tribunal that has had a considerable impact on investment arbitration jurisprudence: the proposition that a host State’s denial of benefits after an investment has been made constitutes a “retrospective” application of the treaty which cannot be given effect.
Mark Feldman, a leading scholar of international investment and treaty arbitration, previously served as Chief of NAFTA/CAFTA-DR Arbitration in the Office of the Legal Adviser at the U.S. Department of State. As Chief, he represented the United States as a Respondent or non-disputing Party in more than a dozen investor-State disputes and provided legal counsel supporting the negotiation of U.S. bilateral investment treaties and investment chapters of free trade agreements. In January 2015, he was appointed to the high-level E15 Task Force on Investment Policy, sponsored jointly by the World Economic Forum (WEF) and the International Center for Trade and Sustainable Development (ICTSD), the purpose of which is to generate policy recommendations to worldwide governments, businesses and NGOs regarding the international investment regime.
