Unearthing FET: What Did States Intend, and Does It Matter?


Fair and Equitable Treatment ("FET") is often described as the core standard of international investment law. Arbitrators have frequently applied it to discipline States' exercise of their legislative, judicial, and executive powers in a broad range of cases, resulting in large monetary awards. Yet it is increasingly claimed that States may not have intended FET to serve as such a far-reaching standard. In this session, leading academics, practitioners, and government officials will critically assess the evidence cited to support this claim. What do the negotiating history of treaties, joint interpretations, and new-generation treaties tell us about the scope of the FET standard? What is the relevance of such evidence as a matter of treaty interpretation? Can or should it lead to reconsidering the role of the FET standard in investment treaty arbitration?

Following the panel discussion, the audience will have an opportunity to meet the speakers virtually and "Continue the Conversation" in an open Zoom room. This event is free of charge. Continuing Legal Education (CLE) credits will be provided.


  • Jaroslav Kudrna, Head of the International Arbitration and Investment Protection Unit, Ministry of Finance of the Czech Republic
  • Ana María Ordóñez Puentes, Head of Colombia's International Litigation Division at the Agencia Nacional de Defensa Jurídica del Estado, Republic of Colombia
  • Martins Paparinskis, Reader in Public International Law, University College London
  • Jennifer Thornton, Trade Counsel, U.S. House of Representatives Committee on Ways & Means

Moderators (Co-Chairs of the ASIL Dispute Resolution Interest Group):

  • Simon Batifort, Partner, Curtis, Mallet-Prevost, Colt & Mosle LLP
  • Dr. Remy Gerbay, Partner, Hughes Hubbard & Reed LLP

Date and Location

Friday, December 10, 2021 - 12:00pm to 1:00pm