OverviewThis is the long-awaited second edition of the first modern work on the substantive law applied in investment treaty arbitration. It forms a detailed critical review of the substantive principles of international law applied by Investment Arbitration Tribunals, and a clear and comprehensive description of the present state of the law. The first edition met with immediate success as a result of the authors' achievement in describing and analysing the volume of law created, applied and analysed by tribunals. The second edition is fully updated to take account of the many more arbitration awards that have been published since 2006. It is now the most comprehensive and up to date work in its field and no practitioner or academic can afford to be without it.Key areas of coverage include: the instruments under which investment disputes arise; the legal basis of treaty arbitration; dispute resolution and parallel proceedings; who is a foreign investor, including nationality issues and foreign control; what is an investment; investors' substantive rights, including fair and equitable treatment; expropriation; compensation and remedies.