Going Out of Business: Representing Insolvent Claimants Seeking Investment Treaty Protection in Arbitrations Brought against States (Winner of the Essay Competition 2022)

In light of the continuing covid-19 pandemic, with its punctuating new waves and variants, and the war in Ukraine and accompanying global sanctions, it is likely that the number of insolvent claimants demanding investment treaty protection is on the rise. Against this background, it is the aim of this study to examine who can represent insolvent claimants in arbitral proceedings. In doing so, the authors examine the roles and representative powers of the different stakeholders in cases where an insolvent claimant has sought investment treaty protection in an arbitration brought against a State. By assessing the roles of insolvency administrators, companies’ shareholders and directors, and third-party funders, and analysing existing case law, the study serves as a guide to parties establishing their case strategy and to arbitrators faced with such issues.