On 14 October 2026, the Rio School on Global Governance, Democracy and Human Rights was honored to welcome Nicholas Renzler, Counsel at Foley Hoag LLP. The course is held by the FGV Jean Monnet Centre of Excellence, co-funded by the European Union under the Erasmus+ programme and directed by Prof. Paula Wojcikiewicz Almeida.

In his lecture, moderated by Prof. Paula Wojcikiewicz Almeida, Mr. Renzler discussed the resolution of disputes involving state-owned entities (SOEs) in arbitration, shedding light on the challenges involving state governance and public interest. He highlighted the importance of SOEs for global governance, noting that they account for approximately 12% of global market capitalization and play a crucial role in managing strategic resources, critical infrastructure and public services. Given their economic and societal significance, disputes involving these entities raise important questions about accountability, transparency and the public interest. The lecture explored the different types of SOEs and disputes they face, as well as the advantages and challenges of international commercial arbitration compared to litigation.

Through case studies such as the Dar es Salaam water concession, P&ID v. Nigeria, the Petrobras/Lava Jato shareholder dispute, and Perenco v. Ecuador, Mr. Renzler examined how arbitration intersects with public service delivery, corruption, environmental protection, regulatory powers and the right of states to pursue public-interest objectives. These cases illustrated the complex balance between protecting contractual commitments and investments, on the one hand, and safeguarding public interests and the rule of law, on the other. The lecture concluded by reflecting on arbitration's potential to strengthen legal certainty and constrain arbitrary state action, while also raising concerns about transparency, democratic legitimacy and regulatory autonomy.

We extend our sincere thanks to Mr. Renzler for such an engaging and insightful lecture. We look forward to further collaboration.