Damages in International Investment Arbitration and the future of moral damages

in English language International investment arbitrations are an upcoming and dynamic factor within the current global economy, and damages embody one of their main characteristics, the monetary aspect. International investment arbitrations through International Investment Agreements protect both parties involved, a state and an investor on another state, that is a party to such agreement. The need to award damages to harmed parties to a dispute is imminent, even though the value and valuation of damages are not articulated in Bilateral Investment Treaties. Therefore, it is vital to set standards and principles that tribunals could adhere to when awarding damages. On the other hand, it is important to allow discretion, since the valuation of damages depends on the particular circumstances of each case. Acknowledged rules are fundamental to prevent discrepancies and discriminations, particularly when awards in international investment arbitrations can reach millions or even billions of U.S.$. The aim of damages is to provide full reparation standard when harm has been done to a party. In order to provide compensation to a harmed party, the tribunal first needs to assess the value of the affected investment and from that calculate the damages using a valuation method. The thesis will examine the..