Colin Brown, representing the
European Commission, presented the EU’s view on the reform of the investment
dispute settlement system. At the core of the EU’s proposal is the creation of
a permanent Multilateral Investment Court (MIC) with full-time judges. According
to the EU, only a permanent standing two-tier mechanism with full-time judges
can effectively address the concerns regarding the currently existing investor-State
dispute settlement (ISDS) system in respect of which reform is – according to
the EU – desirable.