The Vale Columbia Center Roundtable Addressing Key Issues of International Investments by State-Controlled Entities

NEW YORK, March 18 /PRNewswire/ -- The Vale Columbia Center on Sustainable International Investment, a leading educational Center on international investments, will be hosting a Roundtable on March 19 at Columbia University's Case Lounge in New York City.  Burford Group Limited, the Investment Advisor to Burford Capital Limited, a public entity which invests in, among other things, claims by and against sovereigns, has been a leading collaborator with the Center in organizing the Roundtable.  King & Spalding is also an organizer.

This limited-space event will focus on international investment by State-controlled entities (SCE).  Sovereign Wealth Funds alone had foreign direct investments (FDI) worth $65 billion in 2008; to that, portfolio investment has to be added.  State-owned enterprises (SOE) have invested considerably more abroad; some 50 of a select group of the largest SOEs are reported to have foreign assets of about $1.5 trillion.    

The Roundtable will address the special issues that arise when a claimant is a State or SCE, review cases brought in the past by SCEs, discuss the new environment in which SCEs operate, growing trends within third-party funding of arbitrations involving SCEs and the experience that has been gained in commercial arbitrations relating to SCEs.  The roundtable will feature keynote remarks from Hans Smit, Stanley H. Fuld Professor of Law, Columbia Law School.  

"Outward investment by State-controlled entities is increasing rapidly.  China's annual outward investment in 2008 alone exceeded total global investment flows 25 years ago; some 90% of China's outward FDI is undertaken by State-owned enterprises. Therefore, the issues relating to investment by States and State-controlled entities, including those relating to any international investment arbitrations they may initiate, merit special attention," says Karl P. Sauvant, Executive Director of the Vale Columbia Center. Regarding the collaboration with Burford and King & Spalding, Karl said, "Through our partnership with Burford and King & Spalding, we are bringing together prominent members of the international investment community" to share their insights into growing trends in international investments by SCEs. We believe this a perfect forum to discuss the issues, challenges and best practices across the board."

"Foreign direct investment from emerging markets, including sovereign FDI, is on the rise.  Therefore, we expect that sovereign investors will become more assertive in pursuing their rights.  We worked with Columbia to identify the most timely and applicable topics for the panelists and audience and enlist the highest caliber of practitioners, including litigators, policy makers and academics to share their intricate knowledge, and bring to light growing trends within the space. We view these forums as an opportunity for participants to engage, learn and grow as professionals," said Selvyn Seidel, Burford Group's Chairman.

Featured sessions from the Roundtable include:

• Overview of Cases Initiated by States/SCEs:  This presentation will survey cases initiated by States and SCEs in investment arbitration with an emphasis on what we already know from past experiences and the critical issues that have arisen or could arise in the future.
• Initiation of Claims by SCEs: Jurisdiction, Standing and Consent – This presentation will discuss the special jurisdictional and standing issues faced by States and SCEs in international investment arbitration.  The discussion will also focus on the definition of "investor" and "investment" under international investment agreements.
• Forum Selection and Parallel Proceedings Involving States/SCEs as Claimants in International Investment Arbitration: The presentation will highlight the considerations parties will face in selecting one or more arbitration settings.
• Claims and Counter-Claims by States and SCEs under Bilateral Investment Treaties (BITs) and Contracts: The session will address what kinds of claims are potentially available to States/SCEs, and which claims have historically been brought by such entities under BITs and investment contracts.  It will also address issues that have not yet come up but are likely to arise in such future arbitrations.
• Third-Party Funding of States'/SCEs' International Arbitrations: Third party funding of parties to international arbitrations, including those initiated by States/SCEs, is a growing trend.  This session will discuss the scope of this phenomenon as well as its effects on access to justice of parties from the developing world, arbitration dynamics, and the potential outcomes of arbitrations.  

Maya Steinitz, Associate-in-Law at Columbia Law School, is one of the Roundtable organizers and will also be presenting one of the above featured sessions on Forum Selection and Parallel Proceedings involving States and State-controlled entities as claimants.  Forum selection and parallel proceedings are among the key issues that are likely to determine the outcome and costs of arbitrations involving states and SCEs as claimants as well as their effects on the development of international investment law.

For more information on the roundtable please go to http://www.vcc.columbia.edu/

About Vale Columbia Center on Sustainable International Investment

The Vale Columbia Center on Sustainable International Investment is a joint Center of Columbia Law School and The Earth Institute at Columbia University. It seeks to be a leader on issues related to foreign direct investment (FDI) in the global economy, paying special attention to the sustainability dimension of this investment. The Vale Columbia Center focuses on the analysis and teaching of the implications of FDI for public policy and international investment law. Its objectives are to analyze important topical policy-oriented issues related to FDI, develop and disseminate practical approaches and solutions, and provide students with a challenging learning environment. For more information, please view the website at www.vcc.columbia.edu.

About Burford Group Limited

Burford Group Limited acts as Investment Advisor to Burford Capital. Burford Capital is a public company that in 2009 raised $130 million for investments in the litigation finance area, including investments in Claims by and against Sovereigns.  The principals of the Investment Advisor are Christopher Bogart, Selvyn Seidel and Jonathan Molot. Mr. Seidel has 40 years of experience as a practicing litigator and chaired a variety of litigation and arbitration activities and cases for one of the largest law firms in the world. Mr. Bogart has been a practicing litigator, the general counsel of a Fortune 50 corporation managing a portfolio of litigation, and an investment manager. Mr. Molot is a law school professor at the Georgetown Law Center, has been a visiting Professor of Law at Harvard and Virginia Law School, and is a leading US expert in litigation finance and risk transfer. For more information, please view the website at http://burfordgroupltd.com.

SOURCE Burford Group Limited