PREMATURE TREATY CLAIMS

AbstractRecently, Christoph Schreuer has written, together with Rudolf Dolzer, about the weight given by some tribunals to the investor's neglect of local remedies that ‘this issue is far from settled’. This chapter shows that leaving aside the umbrella clause, Schreuer has actually welcomed the underlying applications of substantive standards that, in specific circumstances, have caused, if not dictated, tribunals to seize on the investor's neglect of local remedies. Once echoes of a general requirement of exhaustion of local remedies no longer linger in our minds, the issue might actually be settling down comfortably.