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"PREFACE" [2019] ELECD 2733; in Nagy, Csongor (ed), "Investment Arbitration in Central and Eastern Europe" (Edward Elgar Publishing, 2019) xx

Book Title: Investment Arbitration in Central and Eastern Europe

Editor(s): Nagy, Csongor

Publisher: Edward Elgar Publishing

Section Title: PREFACE

Number of pages: 2

Extract:

PREFACE




Central European Member States are the litmus paper of investment arbitration in Europe. On
the one hand, as capital-importers, they are popular targets of investment claims: the over-
whelming majority of the cases against EU Member States are proceedings launched against
countries from the region. On the other hand, they, arguably, may be characterized by intensive
intervention in the market, the state's strong regulatory role and the entrenched social status of
public services, which, by their nature, may interfere with the economic interests of foreign
investors.
Unfortunately, notwithstanding its relevance as a battlefield of investment arbitration,
Central European experiences have not been analysed in a comprehensive manner. Investment
protection disputes are fairly complex: arbitral tribunals judge measures that are part of the core
of national regulatory sovereignty, such as national privatizations, protection of public health,
regulation of prices and curbing of monopolies. Although the complexity of investment disputes
makes the proper understanding of the context essential, observers not "fluent" in the local
jurisdiction may, at times, face unsurmountable difficulties grasping the factual, economic,
political and regulatory background.
The unique edge of this volume is that it brings to the light the core of the European
experiences on investment arbitration with a contextual analysis addressing the economic
perspectives, the political background and the national regulatory environment. It is the first to
present the Central and Eastern European case-law of investment arbitration in a comprehen-
sive manner to make the experiences of Europe's investment law battlefield fully ...