Investor-State Arbitration 2025

ITALY

Switzerland

Slovenia

Croatia

France

Bosnia

Italy

Rome

Albania

Law and Practice Contributed by: Maria Chiara Malaguti, Filippo Rossi and Roberto Longhi PedersoliGattai

Contents 1. Overview p.123 1.1 National Position p.123 1.2 Arbitration Conventions p.123 1.3 Prevalence of Investor–State Arbitration p.123 1.4 Key Industries p.123 1.5 Major Arbitrations p.123 1.6 Reaction to Awards Made Against the State p.124 2. Investment Treaties, Free Trade Agreements and Investment Laws p.125 2.1 Bilateral and Multilateral Investment Treaties p.125 2.2 Model Bilateral Investment Treaty p.125 2.3 Free Trade Agreements p.125

6. Third-Party Funding p.129 6.1 Prevalence of Third-Party Funding p.129 6.2 Third-Party Funding Case Law p.130 6.3 Disclosure and Security for Costs p.130

7. Other Procedural and Evidentiary Issues p.130 7.1 Notice of Dispute and Consultation Period p.130 7.2 Confidentiality and Transparency p.130 8. Damages and Valuation p.131 8.1 Remedies p.131 8.2 Methodologies for Quantum Assessment p.131 8.3 Recovering Interest and Legal Costs p.131 8.4 Mitigation of Damages p.131

2.4 Interpretive Aids p.126 2.5 Investment Laws p.126

9. Enforcement of Awards p.131 9.1 Enforcement Procedure p.131 9.2 Approach of the Courts p.132 9.3 Asset Tracing and Recovery p.132

2.6 Arbitration Clauses in Investor–State Contracts p.126 3. Substantive Protections and Breaches p.126

3.1 Common Complaints p.126 4. The Arbitral Tribunal p.127

4.1 Limits on Selection p.127 4.2 Default Procedures p.127 4.3 Court Intervention p.128 4.4 Challenge and Removal of Arbitrators p.128 4.5 Arbitrator Requirements p.128 5. Preliminary and Interim Relief p.129 5.1 Types of Relief p.129 5.2 Role of Domestic Courts p.129 5.3 Security for Costs p.129

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