intra-EU BITs

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  |  October 5, 2020

EU consultation on cross-border investment within the EU comes to an end

As we reported, the EC launched a consultation to clarify and supplement rules on cross-border investment within the EU in May 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.

Awards  |  December 17, 2019

Despite a win for Estonia, ICSID arbitrators continue to resist CJEU’s Achmea judgment

United Utilities (Tallinn) BV and Aktsiaselts Tallinna Vesi v. Republic of Estonia, ICSID Case No. ARB/14/24

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.

Italy found liable for change in renewable energy policy in intra-EU arbitration

GREENTECH ENERGY SYSTEMS A/S & ORS. V. THE ITALIAN REPUBLIC, SCC ARBITRATION V (2015/095)

Cyprus legitimately exercised its police powers, defeats ICSID claims by Greek bankers

MARFIN INVESTMENT GROUP HOLDINGS S.A., ALEXANDROS BAKATSELOS AND OTHERS V. REPUBLIC OF CYPRUS, ICSID CASE NO. ARB/13/27

Cyprus fends off SCC expropriation claim by Polish investors over bank bail-in measures

TOMASZ CZĘŚCIK AND ROBERT ALEKSANDROWICZ V. CYPRUS, SCC CASE NO. V 2014/169

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)

Awards  |  December 21, 2018

ICSID tribunal finds Hungary in breach of expropriation clause in France–Hungary BIT

UP AND C.D. HOLDING INTERNATIONALE V. HUNGARY, ICSID CASE NO. ARB/13/35

Awards  |  December 21, 2018

ICSID tribunal accepts jurisdiction over investor’s claim under United Kingdom–Czechia BIT but rules in favour of Czechia

A11Y LTD V. CZECH REPUBLIC, ICSID CASE NO. UNCT/15/1

News  |  July 30, 2018

European Commission communication on protection of intra-EU investment rejects ECT as a basis for intra-EU ISDS

On July 19, 2018, the European Commission (EC) published a communication to the European Parliament and the Council of the European Union (EU) titled Protection of Intra-EU Investment.

ICSID tribunal finds Spain in breach of the FET standard under the Energy Charter Treaty

MASDAR SOLAR & WIND COOPERATIEF U.A. V. THE KINGDOM OF SPAIN, ICSID CASE NO. ARB/14/1

Luxembourg fund awarded EUR 53.3 million for FET breach arising out of Spain’s curtailment of renewable energy incentive schemes

NOVENERGIA II – ENERGY & ENVIRONMENT (SCA) (GRAND DUCHY OF LUXEMBOURG), SICAR V. THE KINGDOM OF SPAIN, SCC CASE NO. 063/2015

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  |  September 26, 2017

EU launches consultation on prevention and resolution of intra-EU investment disputes

On July 31, 2017 the European Commission launched a consultation on the prevention and amicable resolution of disputes between investors and public authorities within the European Union.

Awards  |  September 26, 2017

Investors triumph over Spain in a claim concerning Spain’s regulatory overhaul for clean energy

Eiser Infrastructure Limited and Energía Solar Luxembourg S.à r.l. v. Kingdom of Spain, ICSID Case No. ARB/13/36

Awards  |  September 26, 2017

WNC v. Czechia: tribunal dismisses expropriation claim and determines that it has no jurisdiction over all other claims

WNC Factoring Limited v. The Czech Republic, PCA Case No. 2014-34

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.