Never let shambolic panels to replace your judiciary
After lurking here for so many years I registered as this really boils my blood.
The sorry story of the Czech Republic, who in the early nineties signed series of agreements containing exactly those clauses, where companies got rights to sue government before "independent arbitration panels" is very useful here.
In few years taxpayers lost eye-watering amounts of money, comparable to 10% of yearly budget.
Most of these cases were sham, or very suspicious. Outright crooks found this as great business model, especially if you bribe a little few corrupt government employees.
The most "clean" case was when investor (Mr. Lauder of the cosmetics fame) build series of shell companies in order to skirt Czech media ownership laws at the time, and when he had falling out with his Czech partner (who was officially licence holder) and his companies suddenly become worthless as their whole business model was to provide "services" to license holder he sued Czech government and won.
The others were much much worse.
So, if you are small country:
1) don't outsource your courts
2) don't outsource your lender of last resort
3) don't borrow in the foreign currency (now as EUzone is concerned, this makes anyone except Germany loser)