This paper explores how the Fair and Equitable Treatment standard and the idea of protecting the investor’s legitimate expectations could form the basis of a claim against the UK government for the consequences of Brexit. The discussion operationalises this through the presentation of a case study. We consider the position of foreign financial firms that established themselves in the City of London to take advantage of the UK’s much lauded position as the centre of European finance and investigate their options in pursuing a claim through investment treaty arbitration. The paper concludes that it is possible for an investor to win such a case, within a narrow band of facts.

中文翻译：

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英国脱欧，城市和ISDS的选择

本文探讨了公平和公正待遇标准以及保护投资者的合理期望的构想如何构成英国政府针对英国退欧后果提起诉讼的基础。讨论通过演示案例研究来实现。我们考虑在伦敦金融城建立自己的外国金融公司的地位，以利用英国备受赞誉的欧洲金融中心地位，并调查他们通过投资条约仲裁寻求债权的选择。本文的结论是，投资者有可能在狭小的事实范围内胜诉。