The Standing of State-Owned Enterprises as Claimants in Investor-State Dispute Settlement

Franco Palavecino Muñoz

doi:10.5771/9783689006563

Summary

The book examines how the rise of state capitalism and the growing role of state-owned enterprises (SOEs) in foreign direct investment are reshaping international investment law. It asks whether, and under what conditions, SOEs should have standing in investor–State dispute settlement, with a particular focus on the USMCA. The manuscript critically assesses the Agreement’s 'non-market economy' clause, arguing that it creates a politically driven and legally uncertain exclusion mechanism. As an alternative, it proposes a principled framework based on ownership, control and commercial activity, seeking to safeguard the depoliticised character and legitimacy of ISDS in the 'geoeconomic era.'

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Bibliographic data

Edition: 1/2026
Copyright Year: 2026
ISBN-Print: 978-3-68900-655-6
ISBN-Online: 978-3-68900-656-3
Publisher: Tectum, Baden-Baden
Series: Young Academics: Rechtswissenschaft
Volume: 36
Language: English
Pages: 235
Product Type: Monograph

1. Preface No access
2. Acknowledgements No access
3. Table of Cases No access
4. Table of International Agreements No access
5. List of Abbreviations No access
Introduction No access Pages 1 - 6
1. A. The Rise of Twenty-First Century State Capitalism No access
2. B. SOEs as Global Competitors No access
3. C. SOEs Challenges and Policy Reactions No access
4. D. Ownership and Control of SOEs No access
5. E. SOEs Activities and Objectives No access
1. 1. A.1 Earlier-generation IIAs Explicitly Referring to SOEs No access
  2. A.2 Earlier-generation IIAs Not Explicitly Covering SOEs No access
2. B. Standing of SOEs as Claimants under Earlier-Generation IIAs No access
3. C. Qualification of SOEs as “Nationals” under the ICSID Convention No access
4. D. Rules on Attribution and SOE Standing No access
5. 1. E.1 Structural Approach No access
  2. E.2 Functional Approach No access
  3. E.3 The Interplay of the Functional and Structural Approachesin International Jurisprudence No access
6. 1. F.1 Rebalancing Private and Public Interests: A Shift Towards Enhanced State Regulatory Authority No access
  2. F.2 Development of Rules on SOEs in New Trade and Investment Agreements No access
1. 1. A.1 Definition of “Investor” and “Investment” No access
  2. A.2 Exclusion of Standards of Protection No access
  3. A.3 Exclusion of a Contracting Party No access
  4. A.4 Exclusion of Sectors and Industries No access
  5. A.5 The “Denial of Benefits” Clause No access
  6. A.6 The “Non-Market Economy” Clause No access
2. B. The Notion of “Non-Market Economy” in International Trade Law No access
3. 1. C.1 Ownership and Control No access
  2. C.2 Person of a Non-Annex Party No access
  3. C.3 Non-Annex Party Designated as an NME with no FTAs with the Parties No access
4. D. Ambiguities and Inadequacies of the NME Clause No access
5. E. Determining the Standing of SOEs Beyond the NME Clause No access
IV. Conclusions No access Pages 183 - 188
Bibliography No access Pages 189 - 202