intra-EU BITs

Reform or withdrawal from the ECT: What does it mean for coal?

Of all fossil fuels, coal has the greatest climate impact. However, sovereign decisions to phase out coal inevitably affect the investment of coal power plant operators, frequently leading to disputes concerning compensation for lost profits. 

News  |  June 24, 2021

European Energy Disputes Update

As we reported, German-owned energy company Uniper put the Netherlands on notice of an investment dispute last year, following the announcement of the country’s plan to phase out coal-burning power plants by 2030. Alongside RWE, another German energy company, Uniper made good on that threat earlier this year; both companies initiated ICSID claims lodged under the ECT this spring.

Side-stepping national courts would be a big step backwards for Europe: A reaction to the EC’s public consultation on EU cross-border investment.

The European Commission has launched a public consultation initiative on the EU’s current system of investment protection and facilitation, prompted by the recent termination of BITs between the member states. In this piece, the authors caution that new forms of international investment protection are not necessary and could serve to undermine the legitimacy of the EU.

News  |  October 5, 2020

European Commission initiates infringement proceedings against the UK and Finland for failing to terminate intra-EU BITs

On May 14, 2020 the EC initiated infringement proceedings against the UK and Finland for failing to terminate the intra-EU BITs to which they are a party. Though the UK has formally left the European Union, EU law continues to apply to the UK during the transition period, which ends on December 31, 2020.

News  |  December 17, 2019

Nord Stream 2: Pipeline spat with EU evolves into ECT dispute

A long-simmering row over plans for two new pipelines that would carry natural gas from Russia into Germany has advanced quickly in recent months, after gas company Nord Stream 2 submitted a notice of arbitration against the EU under the ECT on September 26, 2019.

News  |  April 23, 2019

Achmea judgement fallout: 22 EU member states agree to terminate intra-EU BITs

Twenty-two EU member states endorsed a political declaration on January 15, 2019, where they announced a series of actions involving existing intra-EU BITs and upcoming or ongoing investment arbitration.

Awards  |  December 21, 2018

Achmea judgment analyzed and FET claim granted in ECT case against Spain

FORESIGHT LUXEMBOURG SOLAR 1 S.À.R.L., FORESIGHT LUXEMBOURG SOLAR 2 S.À.R.L., GREENTECH ENERGY SYSTEMS A/S, GWM RENEWABLE ENERGY I S.P.A. AND GWM RENEWABLE ENERGY II S.P.A. V. THE KINGDOM OF SPAIN, SCC ARBITRATION V (2015/150)

Achmea: The Beginning of the End for ISDS in and with Europe?

Current and future investment treaties and chapters involving EU member states or the Union itself may be profoundly impacted by a landmark ruling of the European Court of Justice (ECJ). In this piece, the author explores the judgement from an EU constitutional point of view and analyzes potential consequences. Did the Achmea ruling come as a surprise to EU law insiders?

News  |  August 4, 2015

European Commission requests Member States to terminate intra-EU BITs

On June 18, 2015, the European Commission initiated infringement proceedings against Austria, the Netherlands, Romania, Slovakia and Sweden, formally requesting them to terminate their bilateral investment treaties (BITs) with other EU Member States.

ITN  |  March 4, 2009

European Court of Justice rules that certain Swedish and Austrian BITs are incompatible with the EC Treaty

The European Court of Justice (ECJ) has ruled that certain clauses in Sweden and Austria’s bilateral investment treaties are incompatible with the European Community (EC) Treaty.