Deference of arbitral tribunals towards States' right to regulate in the context of reform: Are we adding clarity?

The Investment Law and Arbitration Lab participants Sergey Korotkov, Valeria Matorina, Elena Murashko, and Nikita Sinitsyn have prepared their first article* (in Russian) as part of the project.

Being directed by Sergey Alekhin, they analyzed some paragraphs of Draft Provision 12 on the right of States to regulate, prepared by the UNCITRAL Secretariat. They focused on the problem of interpreting and articulating the standard of appreciation that arbitral tribunals must accord a "high level of deference" to States with regard to their development and implementation of domestic policies.

* The text is published in the authors' edition.