<i>Calculation of Compensation and Damages in International Investment Law by Irmgard Marboe</i>

The calculation of compensation and damages in international practice has been neglected for a long time, despite the fact that the financial outcomes of the proceedings are greatly relevant in investment disputes. They are essential for the functioning of the economy and for future investment decisions. The protection of international investment can only work efficiently if a legal framework is able to redress unexpected or wrongful behaviour. There is no doubt that there has been a lack of a detailed analysis of the most important remedy of damages and the calculation of compensation in investment treaty arbitration. Thus, Christoph Schreuer originally suggested to Irmgard Marboe that she explore this pertinent topic. Her original study resulted in her habilitation submitted to the University of Vienna in 2007. Having worked on an English transcript, the first edition of the book that we reviewed came out in 20093. Since 2009, the situation has changed significantly. There have been numerous new publications, and the quantity of awards has multiplied. This does not mean that Marboe’s work in this field has lost its importance. Quite the contrary; today, there are no generally accepted principles for the calculation of damages in awards. Even the most recent jurisprudence on compensation and damages is not always consistent and the level of detail and the depth of reasoning vary. This is precisely where Marboe’s book steps in.