Recent changes to Australian gas export and taxation policy serve as reminders that the protections afforded to investors under investment treaties are not only relevant to investors in emerging markets. Investment treaties are also relevant to investors in modern and developed jurisdictions with widely recognised adherence to the rule of law. Three developing investor-state arbitrations in Australia, each also concerning alleged expropriation and breaches of other common investment treaty protections, demonstrate the relevance of investment treaty protections in jurisdictions of that kind.
This article discusses recent investment treaty developments in Australia and considers the practical implications of protections commonly afforded by investment treaties.
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Authors: Georgia Quick, Partner; Matthew Saunders, Partner; Martin King, Senior Associate; and
Luke Carbon, Lawyer.