Document Type : Research Paper

Authors

1 Ph.D. Student, Public International Law, Faculty of Divinity, Political Science and Law, Science and Research Branch Islamic Azad University, Tehran, Iran

2 Associate Professor, Department of International Law, Faculty of Law, Shahid Beheshti University, Tehran, Iran

Abstract

International investment law protects shareholders’ rights through treaty-based arrangements. That is to say, a great number of bilateral investment treaties (BITs) identify shares as one of the types of protected investment as ICSID arbitral tribunals have recognized in several cases. Despite that, it should be considered that these Bilateral Investment Treaties do not, however, define shareholder or share and typically do not state whether shareholders must own a majority of the shares or control a company's administration to qualify for treaty protection. the absence of a general international law definition of shares or shareholders leads to the need to refer to such concepts as they are generally accepted by municipal legal systems and determine shareholders’ rights and obligations by way of renvoi to municipal rules. this process must preserve the integrity of the concept. tribunals and courts cannot modify or deform these concepts. This study examines the manner of interaction between municipal and international law in the field of shareholders' direct and indirect claims.

Keywords

  • کتاب‌ها

    • شهبازی‌نیا، مرتضی؛ حل و فصل اختلافات ناشی از سرمایه‌گذاری خارجی (تهران: مؤسسه‌ مطالعات و پژوهش‌های بازرگانی، ‌1386).
    • عکاش، احمد؛ سرمایه‌های خارجی، آزادی اقتصادی، تجربه الجزایر، ترجمه‌ مسعود محمد (تهران: دفتر مطالعات سیاسی، بین‌الملل، 1369).
    • محبی، محسن؛ دیوان داوری ایران ایالات متحده آمریکا: ساختار، ماهیت، عملکرد (تهران: فردافر، 1382‌).

    مقاله‌ها

    • بروشه، آرون، «قانون حاکم و اجرای احکام در داوری‌های موضوع کنوانسیون حل و فصل اختلافات ناشی از سرمایه‌گذاری بین دولت‌ها و اتباع دول دیگر»، ترجمه محسن محبی، مجله حقوقی، شماره 10، (1368).
    • مجتهدی، محمدرضا، «درآمدی بر حقوق حل و فصل اختلافات سرمایه‌گذاری بین‌المللی بر مبنای کنوانسیون داوری ایکسید»، نشریه فقه و حقوق اسلامی، شماره 3، (1390).
    • محبی، محسن، ‌«رژیم قانون حاکم دیوان داوری ایران- ایالات متحده در دعاوی نفتی و تأثیر آن در روند داوری بین‌المللی»، مجله تحقیقات حقوقی، شماره‌های 17 و 28، (1378).
    • میرعباسی، سیدباقر و حمیدرضا سیاوش‌پور، «حمایت دیپلماتیک در چارچوب معاهدات بین‌المللی سرمایه‌گذاری»، فصلنامه‌ مطالعات حقوق عمومی، دوره‌ 49، شماره‌ 4‌، (1398).
    • هنجنی، سیدعلی و ابوالفضل استادزاده، «مفهوم سرمایه‌گذاری خارجی در قوانین داخلی، معاهدات بین‌المللی سرمایه‌گذاری و آرای دادگاه‌های داوری بین‌المللی»، تحقیقات حقوقی، دوره 20، شماره 3، (1396).

    References

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    Documents

    • Abs-Shawcross Draft Convention, 1959.
    • Argentina – US BIT; Estonia – US BIT; and the Czech Republic – US BIT.
    • Draft Convention on Investment Abroad’, in ‘The Proposed Convention to Protect Private Foreign Investment: Around Table’, J. Pub. L. 9 (Currently Emory Law Journal), 1960.
    • Fourth Report on Diplomatic Protection by Mr John Dugard, Special Rapporteur, 13 Mar. 2003, UNDoc. A/CN.4/530.
    • Harvard Draft Convention on the International Responsibility of States for Injuries to Aliens, 1961.
    • History of The ICSID Convention (‘Documents Concerning the Origin and Formulation of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States’) published by ICSID, Vol. I, 2009.
    • ICSID/Washington Convention on the Settlement of Investment Disputes between States and Nationals of Other States, 1965.
    • ILC ‘Draft Articles on Diplomatic Protection with Commentaries’ (ILC Draft on Diplomatic Protection), in Report of the International Law Commission on the Work of Its Fifty-Eight Session, Ch. IV, UNDoc A/61/10, 1 May– 9 Jun.; 3 Jul.–11 Aug. 2006.
    • Memorandum from the General Counsel, R 65-11, in History of the ICSID Convention, Vol. II, 19 Jan. 1965.
    • North American Free Trade Agreement (NAFTA), 1994.
    • OECD Draft Convention on the Protection of Foreign Property, 1967.
    • Treaty of Friendship, Commerce and Navigation Between the United States of America and the Italian Republic, 1948.
    • Vienna Convention, 1969.

    Cases

    • Alex Genin, Eastern Credit Limited, Inc. et A.S. Baltoil v. République d'Estonie, Final Award, 25 Jun. 2001, ICSID Reports 6, 2004.
    • American Manufacturing & Trading, Inc. v. Democratic Republic of the Congo, Final Award, 21 Feb. 1997, ICSID Reports 5, 2002.
    • Antoine Goetz and others v. Republic of Burundi, Final Award, 10 Feb. 1999, ICSID Reports 6, 2004.
    • Asian Agricultural Products Limited V. Democratic Socialist Republic of Sri Lanka, Final Award, 27 Jun. 1990, ILM 30, 1991.
    • Azurix Corp. V. Argentine Republic, Decision on Jurisdiction, 8 Dec. 2003, ILM 43, 2004.
    • Barcelona Traction, Light and Power Company, Limited, Judgment, ICJ Reports 37, 1970.
    • CMS Gas Transmission Company v. Argentina, ICSID Case No. ARB/01/8. Decision of the Ad Hoc Committee on the Application for Annulment Dated 25 Sep. 2007.
    • Compañiá de Aguas del Aconquija-Vivendi (‘Vivendi’), Decision on Annulment of 3 Jul. 2002, ILM 41, 2002.
    • Continental Casualty Company v. The Argentine Republic, ICSID Case No. ARB/03/9, Decision on Jurisdiction, 22 Feb. 2006.
    • Diallo (Republic of Guinea v. Democratic Republic of the Congo), ICJ, Preliminary Objections 24 May 2007.
    • Elettronica Sicula S.p.A. (‘ELSI’), Judgment of 20 Jul. 1989, in ICJ Reports 15, 1989.
    • Foremost-McKesson HBOC Inc. & Others v. Iran, Award No. 220-37/231-1, 10 Iran-US Cl. Trib. Rep. 228, 1986.