News

News  |  January 13, 2024

UN General Assembly Resolution on Tax Convention

Based on a draft resolution submitted by Nigeria on behalf of the African Group, the recent United Nations (UN) General Assembly resolution on the UN tax treaty aims to bolster […]

News  |  January 13, 2024

UNCITRAL Working Group III continued its work in Vienna during its 46th session

In October 2023, UNCITRAL delegates to Working Group III gathered again in Vienna to continue their work on ISDS reform. Two topics were discussed—(i) draft provisions on the establishment of […]

News  |  January 13, 2024

UNCTAD’s World Investment Forum

From October 15 to 20, 2023, UNCTAD organized its eighth World Investment Forum in Abu Dhabi. The World Investment Forum highlighted global investment challenges and opportunities. Discussions focused on sustainable […]

News  |  January 13, 2024

British court upholds Nigeria’s challenge against controversial mega-award

The English High Court upheld Nigeria’s challenge against controversial awards in favour of Process & Industrial Developments Limited (P&ID) by finding significant irregularities in the arbitration process. The arbitration awards […]

News  |  January 13, 2024

High-profile coal phase-out intra-EU arbitration discontinued

As we reported earlier, in 2021, the German energy company RWE filed for a controversial ECT arbitration challenging the Netherlands’ coal phase-out. In the context of the arbitration, the Netherlands […]

News  |  January 13, 2024

EU respondent in one of the arbitrations brought by an oil-refining group

EU appears as a respondent in one of the three arbitrations brought by oil-refining companies belonging to Klesch Group (here, here, and here). It has been reported that the trio […]

News  |  January 13, 2024

Billionaire Clive Palmer files another arbitration against Australia

The Singapore company Zeph Investments Pte, owned by Australian billionaire Clive Palmer, has reportedly filed a notice of intention to commence arbitration against Australia based on the Singapore–Australia Free Trade […]

News  |  September 30, 2023

WTO Agreement on Investment Facilitation for Development is finalized

On July 6, 2023, more than 110 WTO members reached a significant milestone, as the finalization of the Investment Facilitation for Development Agreement’s (IFDA) text was announced. The IFDA is […]

News  |  September 30, 2023

European Commission proposes a coordinated EU withdrawal from the ECT

On July 7, 2023, the European Commission proposed a coordinated withdrawal by the EU, its member states, and Euratom from the ECT, citing the treaty’s incompatibility with the EU’s climate […]

News  |  September 30, 2023

UK to consider withdrawal from ECT if reform fails

The United Kingdom—a major ECT contracting state outside of the EU—indicated on September 1 that it would consider withdrawing from the ECT if the treaty’s signatories fail to agree on […]

News  |  September 30, 2023

Spanish-owned property being seized in the United Kingdom

As part of the enforcement saga of investment treaty arbitration awards issued in the renewable energy disputes against Spain, a Luxembourgish investor (formerly known as “Antin”) secured a seizing order […]

News  |  September 30, 2023

U.S. Court overturns a decision to enforce the Devas award

The U.S. Court of Appeals for the Ninth Circuit overturned a decision to enforce an award in favour of Devas based on a long-running dispute between Devas and Antrix. The […]

News  |  September 30, 2023

Czechia prevails in an arbitration brought by a former Czech senator

The state prevailed in an unusual dispute brought against it by companies ultimately controlled by a former Czech senator, Ivo Valenta. The case concerned municipalities’ authority to regulate gambling on […]

News  |  September 30, 2023

The German courts offer protection from intra-EU arbitrations

The German Federal Court of Justice confirmed in three related cases that EU member states may apply to it to hold intra-EU investment arbitrations based on the ECT and filed […]

News  |  September 30, 2023

UNCITRAL Working Group III: The Commission adopts the Working Group’s first outcome

During its July session, the UNCITRAL (Commission) adopted in principle the Code of Conduct for Arbitrators and . This is the first official outcome of the UNCITRAL Working Group III […]

News  |  July 1, 2023

Germany denies benefits to Russian investors under ECT

According to a press statement released by the Energy Charter’s Secretariat on March 17, 2023, Germany exercised its right under Article 17 of the Energy Charter Treaty (ECT) to deny […]

News  |  July 1, 2023

EU Parliament proposes directive to regulate third-party funding

The European Parliament recommended to the Commission to propose a Directive on the regulation of third-party funding in the EU with the title “Responsible funding of litigation.” If adopted in […]

News  |  July 1, 2023

Norway terminates its IIAs with European Economic Area members

The Government of Norway has been pursuing the termination of its bilateral investment treaties (BITs) with members of the European Economic Area (EEA–EEA membership contains EU and European Free Trade […]

News  |  April 2, 2023

AfCFTA Protocol on Investment finalized

The continent’s Ministers of Justice finalized legal scrubbing of the three key protocols to the African Continental Free Trade Area (AfCFTA), among which was the Protocol on Investment (the other […]

News  |  April 2, 2023

ECT withdrawals and EU discussions on inter se agreement

After a vote in the Council of the EU for the proposed reform of the Energy Charter Treaty failed last November, the European Commission appears to have radically shifted its […]

News  |  April 2, 2023

EU signs MoUs on sustainable raw materials with three countries

In November 2022, the EU signed three memoranda of understanding (MoUs) with Ukraine, Kazakhstan, and Namibia on strategic cooperation on sustainable raw materials, batteries, and renewable hydrogen. These MoUs are […]

News  |  April 2, 2023

EU and India set up Trade and Technology Council

In February 2023, the EU and India set up a new Trade and Technology Council (TTC). The new TTC will deepen strategic engagement on trade and technology between both partners. […]

News  |  April 2, 2023

EU Corporate Sustainability Reporting Directive enters into force

On January 5, 2023, the EU Corporate Sustainability Reporting Directive entered into force. This new directive codifies the rules about the social and environmental information that companies have to report. […]

News  |  April 2, 2023

OECD concluded public consultations on targeted update of Guidelines for Multinational Enterprises

The OECD Guidelines for Multinational Enterprises are one of the main reference instruments that set out recommendations to businesses for ensuring responsible business conduct in a wide area of business […]

News  |  December 26, 2022

AfCFTA Protocol on Investment was concluded

African negotiators embarked on a yearlong process in December 2021 to develop the text of the Protocol on Investment, culminating in a final version that defines the protection, promotion, and facilitation […]

News  |  December 26, 2022

ECT vote and withdrawals

Amid a growing number of national decisions to withdraw from the Energy Charter Treaty, pressure on the European Commission to prepare a withdrawal of the bloc is increasing. So far, […]

News  |  December 26, 2022

Irish Supreme Court weighs in on CETA constitutionality

On November 11, 2022, the Irish Supreme Court handed down an important judgment regarding the constitutionality of the investment chapter in the CETA. The court held that currently, the Irish […]

News  |  December 26, 2022

Dutch court denies compensation to RWE and Uniper

In an important and highly anticipated decision, The Hague District Court denied compensation to two German energy companies, RWE and Uniper, owners of three Dutch coal-fired energy plants, for the […]

News  |  October 7, 2022

ICSID arbitration rules amendment come into effect

After more than 5 years of negotiations involving representatives from governments, business, civil society as well as legal counsel and arbitrators, the ICSID has released its new 2022 Rules and Regulations. The new 2022 Rules and Regulations came into effect on July 1, 2022.

News  |  October 7, 2022

EC-Germany draft joint statement clarifying investment standards in CETA

The European Commission and the German federal government put together a draft statement clarifying the content of the FET and indirect expropriation standards in CETA.

News  |  October 7, 2022

Debate over ECT’s future grows as November vote approaches

Ahead of a critical vote this November, the fate of the ECT modernization hangs in the balance amid continued questions over whether the reforms go far enough to render the agreement compatible with global climate action goals under the UN’s Paris Agreement.

News  |  October 7, 2022

Negotiations of the AfCFTA Investment Protocol in full swing

Since December 2021, when state parties to the AfCFTA began discussion rounds on the zero-draft text to raise preliminary concerns on it, they have since had rounds of negotiations between March and June 2022.

News  |  October 7, 2022

UNCITRAL Working Group III—Investor–State Dispute Settlement Reform—enters crucial phase

From September 5 to 16, 2022, UNCITRAL Working Group III (WGIII) on ISDS Reform held its 43rd session. This was the first in-person session since the global outbreak of COVID-19. It was also one of the longest WGIII sessions, covering a broad range of topics.

News  |  July 4, 2022

OECD releases model rules and technical guidance for countries to implement a global minimum tax

In December, the OECD released model Global Anti-Base Erosion Rules (GloBE) rules for countries to implement a global minimum tax and for companies to adhere to. It subsequently published detailed technical guidance on these model rules in the form of a commentary and examples.

News  |  July 4, 2022

Intergovernmental Working Group continues work to develop a draft Convention on the Right to Development

The UN Convention on the Right to Development is a multilateral framework currently being negotiated by the UN General Assembly Human Rights Council and drafted by a tasked drafting committee. It stems from the 1986 UN Declaration on the Right to Development, which establishes development as a right and puts people at the centre of the development process.

News  |  July 4, 2022

OECD Conference on Investment Treaties and Climate Change Policy

On May 10, 2022, the OECD held its seventh Annual Investment Treaty Conference on the nexus of investment treaties and climate change policy. The event took place following unprecedented warnings by the Intergovernmental Panel on Climate Change about the problematic role played by investment treaties as an obstacle to climate action.

News  |  July 4, 2022

UNCITRAL WGIII continues work on ISDS reform ahead of the 43rd formal session in September 2022

Draft code of conduct for legal decision-makers still under discussion In accordance with its work plan, UNCITRAL WGIII is continuing to make progress on ISDS reform. At its 42nd session, […]

News  |  June 30, 2022

Key Questions Remain as Governments Announce “Agreement in Principle” for Modernized Energy Charter Treaty

After a lengthy negotiation process, Contracting Parties at the June 24 meeting of the Energy Charter Conference reached an agreement in principle to modernize the Energy Charter Treaty (ECT)—an outdated investment treaty that protects fossil fuel investors at the expense of critical climate action.

News  |  March 30, 2022

The new Work Programme on the Future of Investment Treaties at the OECD

Following discussions at the Freedom of Investment Roundtable in 2021, the OECD has launched a new Work Programme on the Future of Investment Treaties.