Abstract
The article explores the current implications of regional and bilateral investment treaties in Latin America, underlying the latest developments and challenges concerning international arbitration. The main argument advanced is that despite criticisms arising out of investment litigation, Latin American countries have moved away from the Calvo doctrine and continue to embrace international arbitration to settle state-investor disputes. In order to support this argument, the article presents a systematic study of the legal framework and the flow of cases brought against Latin American states before the International Centre for the Settlement of Investment Disputes (ICSID) and under the United Nations Commission on International Trade Law (UNCITRAL) Rules.
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