Chapter 5 Proposed structural reform options: content and modalities for ASEAN
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Chapter 5 examines in detail structural options for ISDS reform proposed internationally, namely, appellate mechanisms and investment court systems. The chapter also notes that these structural reform options may be implemented either in a treaty-specific or a multilateral way. Thus, the chapter considers the possibility of adopting structural reforms on a treaty-by-treaty basis as well as adopting systemic structural reform through the establishment of a multilateral solution, such as an MIC. The structural reform options identified are presented, analysed and elaborated for their content and modalities, and then subjected to critical assessment against the context of ASEAN. The examination once again aims at being informative and facilitative. Emphasis is placed on identifying challenges that structural reform proposals may face, such as challenges relating to the recognition and enforcement of the awards produced by institutions such as a standalone appellate mechanism, an investment court system or an MIC.

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