International Investment Protection of Global Banking and Finance

First-ever Comprehensive Subject Guide by Leading International Arbitration Lawyers

Dechert authors have released a first-of-its-kind book, International Investment Protection of Global Banking and Finance: Legal Principles and Arbitral Practice, covering how the global banking and finance industry may use the tools of international investment protection to manage and mitigate political risk. 

About this book

Drawing on Dechert’s world-renowned global expertise in financial services and cross-border transactions, international arbitration partner Arif H. Ali and associate David L. Attanasio provide the first complete overview of how international investment law and other sources of protection against political risk apply to investors and investments in the banking and finance sector.

Global banking and finance are complex and specialized fields with sector-specific investment forms, subject to distinctive legal and regulatory frameworks and unique kinds of political risk. Featuring guidance on the vital legal protections for cross-border finance and banking investments, along with comprehensive coverage of investor-state cases, International Investment Protection of Global Banking and Finance crystallizes a set of field-specific legal principles for the sector.

What's in this book

Written for in-house counsel in the banking and finance industries, government officials and lawyers, international disputes practitioners and academics, and arbitrators addressing banking and finance disputes, International Investment Protection of Global Banking and Finance discusses the various instruments and tools that may be used to protect cross-border investments in the banking and finance sector, both when establishing investments and when resolving disputes. For government lawyers, the book provides guidance on the circumstances that can give rise to state responsibility under international law and how sovereign risk in the context of regulatory reform can be mitigated.

The book addresses practical topics for participants in the global banking and finance sector, with the aim of providing guidance on effective political risk management. It covers the following core issues:

• Identification of the types of political risk that cross-border investments in the sector are likely to encounter.
• Description of the global banking and finance investment types that are potentially subject to political risk.
  • These investment types include long-term equity (including in banks and other financial institutions), short-term equity, debt (loans, bonds), derivatives and others.
• Description of the distinctive adverse sovereign measures that underlie disputes in the sector, including those from sovereign debt defaults and banking sector bailouts.
  • These adverse measures include expropriation, unfair regulatory changes or enforcement, malicious criminal prosecutions, discriminatory or arbitrary treatment, and restrictions on monetary transfers abroad.
• Explanation of alternative sources of protection for investors and investments in the sector, most notably political risk insurance and investment contracts.
• Assessment of how these various sources of protection differ, and how they may be optimized.

In the field of international investment protection, the book provides detailed legal guidance on the field’s application to banking and finance investors and investments. It addresses the following key legal issues:

• How sector-specific forms of investment, such as loans and derivatives, impact the dispute resolution process.
• The effect of specific investment treaty provisions, such as jurisdictional carve-outs and targeted exclusions.
• The remedies available for violations of international investment protection.
• How monetary damages may be assessed for injury to banking and finance sector investors and investments.
• The scope and application of the financial services chapters included in certain free trade agreements.
• The additional investment protections available under domestic foreign investment laws.

How this book will help you

This book is a practical guide to managing and overcoming the political risk that confronts global banking and finance. In-house counsel in the banking and finance industries, government lawyers, international disputes practitioners and academics, and arbitrators addressing banking and finance disputes will welcome the concrete assistance it provides. The authors’ comprehensive analysis will help ensure appropriate international protection for the banking and finance sector, both when establishing investments and when resolving disputes.

Complimentary in-house education and training

Dechert is pleased to offer complimentary in-person or virtual training sessions on the most salient issues covered in the book, including strategies for managing and overcoming potential risks in international transactions and disputes. Please contact Sofia Abraham Mendoza (Sofia.Mendoza@dechert.com) if you are interested in a CLE program. The program can be tailored to your specific institutional or sector needs (legal ethics credit may be available in your state).

Meet the authors

Arif Hyder Ali is the co-chair of Dechert’s International Arbitration practice. He has served as lead trial counsel in international investment, commercial and construction arbitrations under many of the major international and regional arbitral regimes and covering a broad range of industries and economic activity. He has represented parties from the United States, Canada, Central and South America, Europe, the Middle East, Africa, and across Asia. Mr. Ali is consistently rated as one of the world’s leading international arbitration and public international law specialists.

Dechert associate David L. Attanasio concentrates his practice on international arbitration and international litigation, and especially matters with complex issues of public international law or foreign law. His expertise covers multiple geographic regions, including Latin America, Central Asia and the Middle East. Dr. Attanasio frequently publishes and speaks on international arbitration, international investment law, public international law and international human rights law. He currently serves as a member of the International Law Association’s Rule of Law and International Investment Law Committee.

Additional information

The book is currently available through the Wolters Kluwer website. Click here to learn more about it.

About Dechert

Dechert is a leading global law firm with 22 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.