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This is the first comprehensive study of corruption in international investment arbitration. The book considers the limited effectiveness of efforts to combat transnational corruption in international law and the emergence of international investment arbitration as a singular means for effective control of corruption within the international legal order. The case law on corruption by investment tribunals is studied exhaustively, jurisprudential trends are
identified, and reforms aimed at enhancing the effectiveness and fairness of investment arbitration as a mechanism to combat corruption are proposed.

Divided into three parts, part I focus on the phenomenon of corruption in foreign investment and attempts at its control through international law. Part II analyses the available case law in international investment arbitration dealing with corruption. Llamzon identifies nine distinct trends emerging from the case law and provides a table summarizing the key areas of corruption decision-making and each relevant tribunal´s approach, which is an invaluable tool for practitioners engaging in´live´ issues of corruption within arbitral proceedings. Part III reflects on the implications of these trends for both the ´supply´ and ´demand´ sides of corruption in international law, and proposes a integrative framework of decision for corruption issues in international investment
arbitration.

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This comprehensive book offers a probing examination of the relationship between investment arbitration and corruption, based on careful legal research and rigorous analysis. It is a fine piece of scholarship-the culmination of the authors doctoral dissertation-that is also grounded in the reality of arbitral decision-making, surely enriched by the years that the author spent as a lawyer at the Permanent Court of Arbitration. Joan E. Donoghue, Judge, International Court of Justice. ICSID Review

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Aloysius Llamzon, A.B., J.D. (Ateneo de Manila), LL.M., JSD (Yale Law School), is Legal Counsel at the Permanent Court of Arbitration in The Hague. Dr. Llamzon assists tribunals in inter-State, investment, and commercial arbitrations, including as Registrar or tribunal secretary. He is the Registrar of the Indus Waters Kishenganga Arbitration (Pakistan v. India). He was formerly an associate at the Hong Kong office of a leading U.S. law firm, a leading firm in Manila, and a lecturer
in arbitration and international law at universities in Manila and Hague.

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