国际投资仲裁中股东诉权问题研究

Shareholder's Standing in International Investment Arbitration

在国际投资仲裁管辖权阶段,股东诉权是一个重要的问题。股东诉权的依据主要源于国际投资协定,但由于大部分国际投资协定中"投资者"和"投资"都有宽泛的措辞,且仲裁庭认为"保护和促进投资"是国际投资协定的首要主旨,而赋予股东诉权才能保证该主旨的实现,所以使实践中出现了股东诉权泛化的现象,引发了平行仲裁和投资关系被迫多边化等问题。针对此,国际投资协定中开始出现一些校正和平衡条款,一定程度上遏制了股东诉权泛化。

Shareholders' standing plays a vital role in jurisdiction of international investment arbitration.Its authority always arises from the international investment agreement.However,shareholder's standing expands too much in practice because most international investment agreements adopt broad definitions of 'invest' and 'investor',and because international investment arbitration tribunals are inclined to regard 'protection and promotion of investment' as a prime purpose of international investment agreement.The expansion of shareholder's standing leads to excessive parallel arbitrations and coerced multilateralization of the investment relationship.Accordingly,international investment agreements began to adjust their clauses to handle the foregoing problems,and those clauses indeed eliminate harmful effects of expansion of shareholder's standing.