With the successful introduction in 2010 of the Czech Yearbook of International Law, Professor Alexander J. Bělohlávek and Professor Naděžda Rozehnalová, the editors, present the 2011 volume of this ambitious project. The second volume focuses on the admittedly controversial topics relating to a shift from the investors’ viewpoints on investment protection to the contrasting viewpoints of the host states, which are facing growing numbers of alleged claims by investors. Volume II has set as its objective to plot the shift in the paradigm towards a new balance between investors and host states in the investment protection system. Such a shift can be observed in the rising number of counterclaims brought by host states against investors, by the introduction of new standards for evaluation of investments in light of the good faith of the investor at the time of an investment, and by the choice of an absolute means of protection of a host state's interest against investor claims by termination of an existing investment treaty. These topics represent pieces of the whole mosaic of this problem, to which the second volume of the Czech Yearbook of International Law is dedicated to a wide professional audience. The Czech Yearbook of International Law (CYIL) is a collective effort by the following persons and institutions