3.1 Introduction

The establishment of a multilateral investment court (MIC) is a quite recent proposal that aims to replace the current investor–state dispute settlement (ISDS), because the most advanced economic states distrust its fairness and impartiality.1 Investor-state disputes occur in most international legal-political domains. Despite the states provide fair and equitable treatment, and prompt, adaquate and effective compensation for expropriation of investments and MFN, in addition to other benefits, they have not understood the actual consequences and obligations that IIAs have created.2