Legal Uncertainty and Unpredictability in the Enforcement Procedures of Investment Disputes Arbitral Awards
Keywords:
Legal Uncertainty, Predictability, Enforcement Procedure, Investment, Arbitration, International Investment LawAbstract
This paper examines the pressing issue of legal uncertainty and unpredictability in the enforcement procedures of investment dispute arbitral awards. The lack of predictability undermines the legitimacy and reliability of investment arbitration, creating uncertainty for investors and host states alike. The problem in this research work is that, the enforcement of investment dispute arbitral awards is plagued by legal uncertainty and unpredictability, leading to inconsistent and often ineffective enforcement
practices. This lack of predictability undermines the legitimacy and reliability of investment arbitration, creation uncertainty for investors and host states alike. The main research question is what are the primary sources of legal uncertainty and unpredictability in the enforcement procedures of investment dispute arbitral awards and how do inconsistent enforcement practices affect the effectiveness of investment arbitration as a dispute resolution mechanism? The objective of this research is to critically examine the challenges and implications of legal uncertainty and unpredictability in the enforcement procedures of investment dispute arbitral awards, with a view to identifying potential solutions and reforms that can enhance predictability and promote consistency in the application of International Investment Law. This research employs a doctrinal approach, examining the relevant legal frameworks, treaties, and case law governing the enforcement of investment dispute arbitral awards. The analysis draws on a range of sources including academic literature, arbitral awards and policy documents. Through a critical analysis of the current framework and practices surrounding enforcement, this paper identifies the primary sources of legal uncertainty and unpredictability and explores potential solutions and reforms that enhance predictability and promote consistency in the application of international investment law. The findings of this research contribute to the ongoing debates and discussions surrounding investment arbitration reform, providing valuable insights for policymakers, practitioners
and scholars. From the legal analysis of the topic, a good number of reasons have motivated our interest to embark on this research. This study is justified by the increasing prevalence in investment disputes over the years and the need to understand how the outcomes are handled or implemented in order to protect the interest of foreign investors in the host countries. This is because most developing countries rely on foreign direct investment for their economic growth, job opportunities, poverty reduction and good infrastructures. Lastly, it is the wish of the writer that the effectiveness of the enforcement procedures of investment arbitral awards will contribute to the fund of knowledge on arbitration practice in Cameroon, and the business world in general.
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