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International Investment Law & Arbitration


International investment law has become a major area of international dispute settlement. Whether it be for lawyers in private practice, in government departments, or in-house counsel, a good understanding of the building blocks of international investment law and how it is embedded in general international law is becoming increasingly important.

Investment arbitration raises challenges distinct from those raised in other forms international dispute settlement, including complex questions of how to value assets and how to develop and position an arbitration practice in a highly competitive arbitration market. At the end of this five-day programme, you  will be equipped with thorough background in the substantive, procedural and strategic aspects of bringing or defending an investment arbitration claim.

This programme provides an advanced introduction to international investment law in the context of public international law and practice. This joint programme offers the opportunity to learn from Cambridge law and Cambridge Judge Business School faculty, as well as leading practitioners drawn from leading law firms and barristers’ chambers. It is designed both for junior practitioners who are developing a practice in international investment law and for more senior lawyers who wish to re-orient themselves to investment arbitration. Participants will receive a certificate of attendance on successful completion of the programme.

Download the International Investment Law & Arbitration programme brochure


  • State responsibility, including attribution, defences and carve-outs
  • Treaty interpretation: the VCLT framework and specificities in investment arbitration
  • Strategy for your arbitration practice
  • Jurisdiction and admissibility
  • Expropriation
  • Non-discrimination and fair and equitable treatment
  • Advocacy
  • Evidence (admissibility, relevance and materiality, burdens and standards of proof)
  • Control mechanisms (challenge, nullity, recognition, enforcement)
  • How finance professionals value assets and companies
  • The challenge of diversity in international arbitration
  • Recent developments


  • Understand how to translate fundamental building blocks of general international law (sources, state responsibility and treaty interpretation) to investment arbitration
  • Learn about substantive and procedural aspects of investment arbitration from a group of 15 leading practitioners and academics at the University of Cambridge
  • Experience first-hand a unique, customised programme delivered jointly by the Lauterpacht Centre for International Law and Cambridge Judge Business School Executive Education at the premises of one of the world’s best universities and a world-leading research centre in international law
  • Develop a thorough grounding in central substantive treatment standards (expropriation, non-discrimination and fair and equitable treatment), and procedural aspects of investment arbitration
  • An international perspective – network, exchange and debate with leading academics and practitioners and other participants from around the world

Who should attend

  • Lawyers in private practice who are developing a practice in international investment arbitration, and who seek to consolidate their knowledge of international investment law and general international law
  • In-house counsel or government lawyers working on investment arbitrations, alone or with external counsel
  • Lawyers in private practice who wish to expand their practice to include investment arbitration (for example, lawyers specialised in commercial law or international commercial arbitration)

Faculty & speakers

Dr Michael Waibel

Academic Programme Director

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Michael Waibel is a University Senior Lecturer in Law and Co-Deputy Director of the Lauterpacht Centre for International Law.

His main research interests are public international law, international economic law with a focus on finance and the settlement of international disputes. He teaches international law and European Union law.

In 2008, the American Society for International Law awarded him the Francis Deak prize for his AJIL article 'Opening Pandora's Box: Sovereign Bonds in International Arbitration'. The European Society of International Law awarded him their 2012 book prize for his monograph Sovereign Defaults before International Courts and Tribunals (Cambridge University Press, 2011). He won a Leverhulme Prize in 2014. He co-authored the book The Political Economy of the Investment Treaty Regime (Oxford University Press, 2017, with Jonathan Bonnitcha and Lauge Poulsen). 

Michael holds Mag. iur. and Dr. iur. degrees from the Universität Wien, an MSc (Econ.) from LSE and an LLM from Harvard Law School. He is admitted to the New York bar and holds a diploma of the Hague Academy of International Law.

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Arif Ali

Co-chair, International Arbitration Group, Dechert LLP

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Arif Hyder Ali is the Co-chair of Dechert’s International Arbitration practice, which consists of some 30 partners and associates across the firm’s 27 offices. He splits his time between the firm’s Washington, D.C. and London offices. He is also an Adjunct Professor of Law at Georgetown University, where he teaches international commercial and investment arbitration.

From 2007 to 2012 he was an Honorary Lecturer and Global Faculty Member of the University of Dundee’s Centre for Energy, Mining and Petroleum Law and Policy. In 2001, he was decorated with the Order of Bahrain (II) for his role in the resolution of Bahrain’s maritime and territorial boundary dispute with Qatar before the International Court of Justice.

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Brooks W. Daly

Deputy-Secretary General, Permanent Court of Arbitration 

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As Deputy-Secretary General at the Permanent Court of Arbitration (PCA), Brooks Daly has primary responsibility for the legal affairs of the PCA, an intergovernmental organiation with 121 member states devoted to the peaceful settlement of international disputes through arbitration. His responsibilities include advising lawyers and arbitrators participating in international arbitration under PCA auspices on a variety of matters relating to arbitral procedure and international dispute resolution generally. He also assists the PCA Secretary-General when he is called upon to designate or act directly as appointing authority under the UNCITRAL Arbitration Rules. He speaks frequently on international arbitration topics and lectures at Leiden University School of Law.

Prior to joining the PCA, Brooks Daly acted as Counsel at the International Chamber of Commerce (ICC) International Court of Arbitration in Paris, France. He is a member of the California Bar and practiced with the firms of Latham & Watkins (Los Angeles) and Hale & Dorr (London) before joining the ICC.

Sir Christopher Greenwood

Former Judge of the International Court of Justice

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Sir Christopher Greenwood was a Judge of the International Court of Justice from 2009 to 2018. Prior to his election, he was Professor of International Law at the London School of Economics and a practising barrister at Essex Court Chambers who regularly argues cases about international law before international and English courts.

Educated at Wellingborough School and Magdalene College, Cambridge, he obtained degrees in Law and International Law with first class honours. He taught at Cambridge for nearly twenty years before being appointed to a Chair of International Law at the London School of Economics in 1996.

His publications include eighty volumes of the International Law Reports (Joint Editor with Sir Elihu Lauterpacht QC) and The Kuwait Crisis: Basic Documents (1991) and a collection of essays – Essays on War in International Law (2006) He is currently working on a tenth edition of Oppenheim’s International Law.

As a barrister he has argued more than forty cases before the English courts, International Court of Justice, European Court of Human Rights and other international tribunals. He was appointed Queen’s Counsel in 1999 and made a Companion of the Order of St Michael and St George (CMG) for services to public international law in 2002

Patricio Grané Labat

Partner, Arnold & Porter

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Patricio Grané Labat is a seasoned international law expert with 20 years of experience in international arbitration, international trade and general public international law. He has represented claimant and respondent parties in investment arbitrations, including under NAFTA, CAFTA-DR and various bilateral investment treaties. He has acted as counsel in institutional and ad hoc arbitrations under ICSID, UNCITRAL, SCC, LCIA, and ICC rules. Mr Grané, who served as a trade diplomat and negotiator for a Latin American country in Geneva, Switzerland, before entering private practice in 2001, also represents developed and developing countries in WTO dispute settlement proceedings and argues cases before WTO panels and the Appellate Body.

Mr Grané has advised and represented sovereign States in a host of areas of public international law, including state responsibility, treaty law, use of force and international humanitarian law. He has also represented sovereign States in judicial proceedings before European courts concerning jurisdictional immunities and diplomatic protection issues. He also counsels clients on multilateral trade issues and has served as a consultant to the United Nations on international trade law.

Mr Grané, who is fluent in Spanish and a former government official, has unique insight and experience working with government officials, in particular from Latin American states.

He is a frequent speaker in international conferences in the areas of international arbitration and international trade, and has provided dozens of training and capacity building courses to government officials around the world. He was an Adjunct Professor of Law at Georgetown University Law Center before moving to London.

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Dr Rutsel Martha

Principal, Lindeborg Counsellors at Law

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Rutsel Martha is the principal of the London-based public international law firm, Lindeborg Counsellors at Law, a firm specialising in INTERPOL matters, treaty-based arbitration, sanctions, politically exposed persons, asset protection and the law of international organisations. He has over 30 years of experience as a practitioner of public international law, including appointments as the General Counsel and Director of Legal Affairs of both INTERPOL and the International Fund for Agricultural Development (a UN specialised agency), and as a Counsellor in the Legal Department of the International Monetary Fund. Dr Martha has experience handling cases before international courts, arbitral tribunals and international administrative tribunals. From 1998 to 2002, he was the Minister of Justice of the Netherlands Antilles, and from 1990 to 1998, a Minister Plenipotentiary to the European Union.

Dr Martha obtained his law degree at Leiden University. He then received a Master of Law (LLM) in international legal studies at Washington College of Law and a PhD at Leiden University. Dr Martha has a generalist perspective on international law, which can be recognised in his writings on various specialised topics, such as: The Financial Obligation in International Law (OUP, 2015), which was cited with approval by the High Court in Law Debenture Trust Corporation PLC v Ukraine [2017] EWHC 655 (Comm); The Legal Foundations of INTERPOL (Hart Publishing, 2010); The Tax Treatment of International Civil Servants (Martinus Nijhoff, 2010); and The Jurisdiction to Tax in International Law (Kluwer, 1989). From 2007 to 2013, he was a Visiting Professor at the National University of Singapore Law School.

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Sucheta Nadkarni

Sucheta Nadkarni

Sinyi Professor of Chinese Management

PhD (University of Kansas)

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Dr Federica Paddeu

Fellow, Lauterpacht Centre for International Law

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Federica is Junior Research Fellow in international law at Queens' College and an Associate Fellow of the Lauterpacht Centre for International Law.

Her main research interests are general international law, the law of State responsibility and the law on the use of force. She is also interested in the history of international law, especially the 'long' 19th century. She teaches international law and the law on the use of force.

She has published on state responsibility in the British Yearbook of International Law.

Federica holds a PhD and an LLM from Cambridge University, and a law degree from Universidad Católica Andrés Bello (Caracas, Venezuela). She is a member of the Caracas (Distrito Federal) Bar.'

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Lionel Paolella

Lionel Paolella

University Lecturer in Strategy & Organisation

PhD (HEC Paris)

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Pedro Saffi

Pedro Saffi

University Lecturer in Finance

PhD (London Business School)

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Audley Sheppard QC

Co-Head of the International Arbitration Group, Clifford Chance LLP

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Audley is a Partner and Co-Head of the International Arbitration Group at Clifford Chance LLP, based in London. 

He specialises in the resolution of major disputes arising out of infrastructure and energy projects, and international trade and investment. He also sits as an arbitrator (over 30 appointments).

He is also Chairman of the LCIA Board and a Visiting Professor, School of International Arbitration, Queen Mary, London.

He is a former: Vice-President of the LCIA Court (2011-2016); NZ Member of the ICC Court (2008-2012); Co-Chair of the IBA Arbitration Committee (2006-08); and Rapporteur of the ILA Arbitration Committee (1996-2006).

His publications include: ‘The Approach of Investment Treaty Tribunals to  Evidential Privileges’, in ICSID Review (2016, vol. 31(3) at 670); ‘Commentary on UK Investment Treaty’, in Commentaries on Selected Model Investment Treaties (OUP, 2013) (with Chester Brown). 

Audley graduated with LLB (Hons) and BCommerce (Victoria University of Wellington, NZ) and LLM (Cambridge, England).

He was appointed Queen's Counsel in 2015.

Professor Jorge Vinuales

Harold Samuel Professor of Law and Environmental Policy

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Jorge E. Vinuales is the Harold Samuel Professor of Law and Environmental Policy at the University of Cambridge.

He has published widely in his specialty areas, most recently his books Foreign Investment and the Environment in International Law (Cambridge University Press, 2012), Harnessing Foreign Investment to Promote Environmental Protection: Incentives and Safeguards (Cambridge University Press, 2013, co-edited with P.-M. Dupuy) and Diplomatic and Judicial Means of Dispute Settlement (Martinus Nijhoff, 2012, co-edited with L. Boisson de Chazournes and M. G. Kohen).

Professor Vinuales has wide experience as a practitioner. He has worked on many cases under ICSID, UNCITRAL, ICC or LCIA rules, including several high profile inter-State, investor-State, and commercial disputes, and he regularly advises companies, governments, international organisations or major NGOs on different matters of environmental law, investment law, and public international law at large. Professor Vinuales was educated in France (Doctorat - Sciences Po, Paris), the United States (LL.M. - Harvard Law School), Switzerland (Licence and Diplme dtudes approfondies in international relations - HEI; liz jur Universitt Freiburg; Licence and Diplme dtudes approfondies in political science Universit de Genve), and Argentina (Abogado UNICEN).

His native language is Spanish and he is fluent in English, French and Italian.

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Matthew Weiniger QC

Global Co-Head of International Arbitration, Linklaters

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As the firm’s global co-head of international arbitration, Matthew specialises in international arbitrations, public international law and trade law. He also advises on non-contentious matters involving the protection of investments under public international law. He has particular expertise in investment treaty arbitrations. Matthew regularly represents parties in proceedings before the English Commercial Court whereby arbitral awards are challenged under the applicable provisions of the English Arbitration Act 1996.

Matthew has conducted numerous international arbitrations, both ad hoc and institutional (including under International Centre for Settlement of Investment Disputes (ICSID), International Chamber of Commerce (ICC), London Court of International Arbitration (LCIA), Hong Kong International Arbitration Centre (HKIAC) and Singapore International Arbitration Centre (SIAC) rules), in cases arising from all major industry sectors, in particular energy and financial services. Much of Matthew’s experience has been gained in emerging markets.

Matthew co-heads the team writing Arbitration Links, the firm’s arbitration blog with insights, updates and news from the firm’s arbitration experts.     

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Sam Wordsworth QC

Barrister, Essex Court Chambers

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Sam Wordsworth specialises in public international law and international arbitration. He is regularly instructed by Governments in international cases and has appeared before numerous international tribunals including the International Court of Justice and Tribunals constituted with respect to the Law of the Sea. He is a Visiting Professor teaching investment arbitration at Kings College, London and is regularly instructed as counsel in investment treaty disputes. He is currently nominated as arbitrator in two ongoing ICSID cases.

Notable cases as counsel that are in the public domain include: before the ICJ, the Ukraine v Russia case concerning alleged financing of terrorism and racial discrimination in Crimea (for Russia); the Bolivia v Chile case concerning the obligation to negotiate access to the Pacific Ocean (for Chile) and the Chile v Bolivia case concerning the Silala river (for Chile);  the Peru v Chile and Costa Rica v Nicaragua maritime boundary cases (for Chile, for Costa Rica); the cases concerning Certain Activities and the Road (for Costa Rica); the Kosovo case (for the UK); the Diallo case (for Guinea); before the ITLOS and ad hoc tribunals, the Ukraine v Russia case concerning Coastal State rights in the Black Sea (for Russia); the Mox plant case (for the UK), the Chagos Islands case Mauritius v UK (for the UK), the Kishenganga case (for Pakistan); before the Iran-US Claims Tribunal, Case A15 concerning Iranian property in the USA (for Iran); the European Court of Human Rights, Al-Skeini v UK, Al-Jedda v UK (for the UK), the Nada and Al Dulimi cases (for the UK); before the UK Supreme Court Serdar Mohammed (concerning legality of UK detention operations in Afghanistan), Belhaj (concerning alleged complicity of the UK in torture); before the Singapore courts: Swissbourgh Diamond Mines and others v Kingdom of Lesotho (for Lesotho).

Sam Wordsworth advises regularly on international law matters, including questions concerning treaty interpretation, international watercourses, maritime boundaries, the Law of the Sea, investment treaty disputes, State immunity, sanctions and dispute settlement procedures.

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Dr Rumiana Yotova

Fellow, Lauterpacht Centre for International Law

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Rumiana Yotova is a Lecturer and Director of Studies in Law at Lucy Cavendish College, University of Cambridge and an Affiliated Lecturer at the Faculty of Law. She supervises International Law and EU Law and lectures in the LL.M courses on International Dispute Settlement and External Relations of the EU. Her research interests are in the areas of sources of international law, international dispute settlement, investment law and the interaction between different legal regimes within international law.

Rumiana completed her PhD in Cambridge. She gained practical experience in international law and dispute settlement during her two years of work as Research Associate to Professor James Crawford, SC and during her time at the Secretariat of the Permanent Court of Arbitration. She also spent time with the European Commission in Brussels. Prior to that, Rumiana completed an LL.M Advanced in International Law at the University of Leiden summa cum laude and was awarded the Diploma of The Hague Academy of International Law cum laude. She did her Magister Juris degree at the University of Sofia and qualified as a lawyer.

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Dates & fees

Dates Duration Fees *
17-21 September 2018 5 days £4,500

* Fees include all programme materials, daytime refreshments, five nights' accommodation in the centre of Cambridge, some Cambridge-based activities, an opening dinner and a formal gala dinner in a Cambridge college. Preferential rates may be available for groups, University of Cambridge alumni and members of the School's Alumni Association. Please note prices pre-registration are subject to change.

Participants are expected to attend the full programme.

If you have any questions or would like to have a chat about this programme and how it could benefit you or your organisation, please get in touch with the programme advisor:

Stacey Clifford

Business Development Director
Tel: +44 (0)1223 339605

Access Stacey's profile

Stacey Clifford

Version 2 (25 June 2018)


To apply, please send a CV and a one-page statement of interest to Anita Rutherford, Lauterpacht Centre Administrator, Applications will be reviewed on a rolling basis.

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