The British Institute of International and Comparative Law (BIICL) will present a comprehensive empirical study on investment protection in global banking and finance. This study analyses 149 international investment cases and examines how investor-State tribunals have addressed disputes in the financial sector. It complements the first detailed treatise on the subject, International Investment Protection of Global Banking and Finance: Legal Principles and Arbitral Practice (2021), co-authored by Prof. Arif Ali and Dr. David Attanasio.

In an era of rising geopolitical tensions, price volatility, and slow economic growth, governments often implement emergency financial measures that can directly impact investors in the banking and finance sector. Foreign banking institutions and holders of financial assets face increasing regulatory risks, including politically motivated interventions and financial sector reforms. One critical example is sovereign debt restructuring, where economic downturns and rising interest rates increase the likelihood of States defaulting on their debt obligations. According to the IMF, as of April 2024, 34 low-income economies were experiencing or at high risk of debt distress. Recent cases, such as Ethiopia's 2023 sovereign debt default, highlight the challenges foreign bondholders face when their rights are impaired during restructuring negotiations.

However, sovereign debt is just one area of concern. Across the financial sector, investors may find themselves affected by a range of governmental actions, from banking regulations to capital controls and expropriatory measures. The key question remains: Does international investment law offer effective protection against these risks? What remedies are available to investors when States invoke financial stability or emergency provisions to justify restrictive measures?

At this meeting we will explore these pressing issues, drawing insights from the first empirical study of investor-State disputes in banking and finance. Legal practitioners, academics, and industry experts will discuss the evolving legal landscape and assess the role of investment treaties in safeguarding financial sector investments. Participants will gain a deeper understanding of how international arbitration can be used to address financial disputes and protect investor rights in an increasingly uncertain global economy.

Join us for this timely discussion on the intersection of finance, investment protection, and international law.

Event Information

Date and Time: 12 March 2025 at 5:30pm (Registration begins at 5:00pm)
Location: Womble Bond Dickinson, 4 More London Pl, London SE1 2AU
Chair: Arif Hyder Ali — Founder, AHALI Dispute Resolution

Speakers

• Kai-Chieh Chan — AHALI Dispute Resolution, London

• Prof. Yarik Kryvoi — British Institution of International and Comparative Law, London

• Dr. David Attanasio — Womble Bond Dickinson, London

• Dr. Todd Weiler — Arbitra, Ontario

• Marinn Carlson — Independent Arbitrator, Washington, DC