This thesis re-evaluates the principle of full reparation in international investment law, arguing against the automatic application of the Chorzow standard in all types of investment disputes. It proposes an alternative, innovative interpretation of the damages' locus classicus that will accord an 'effective' meaning not only to the text but also to the context of the Silesian dispute while adapting it to the particular ISDS setting and focusing on a 'fairer' outcome for all parties.., arguing against the automatic application of the Chorzow standard in all types of investment disputes. It proposes an alternative., innovative interpretation of the damages' locus classicus that will accord an 'effective' meaning not only to the text but also to the context of the Silesian dispute while adapting it to the particular ISDS setting and focusing on a 'fairer' outcome for all parties.