{"id":5992,"date":"2019-04-23T06:50:44","date_gmt":"2019-04-23T11:50:44","guid":{"rendered":"https:\/\/www.iisd.org\/itn\/?p=5992"},"modified":"2024-08-09T18:29:43","modified_gmt":"2024-08-09T16:29:43","slug":"achmea-judgement-fallout-22-eu-member-states-agree-to-terminate-intra-eu-bits","status":"publish","type":"post","link":"https:\/\/www.iisd.org\/itn\/2019\/04\/23\/achmea-judgement-fallout-22-eu-member-states-agree-to-terminate-intra-eu-bits\/","title":{"rendered":"Achmea judgement fallout: 22 EU member states agree to terminate intra-EU BITs"},"content":{"rendered":"<p>Twenty-two <span class='tooltipsall tooltipsincontent classtoolTips117'>EU<\/span> 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.<\/p>\n<p>The reason behind this series of changes is a <a href=\"https:\/\/www.iisd.org\/itn\/2018\/04\/24\/achmea-the-beginning-of-the-end-for-isds-in-and-with-europe-laurens-ankersmit\/\"><span class='tooltipsall tooltipsincontent classtoolTips42'>CJEU<\/span> ruling<\/a> in the <a href=\"https:\/\/www.iisd.org\/itn\/2018\/04\/24\/achmea-the-beginning-of-the-end-for-isds-in-and-with-europe-laurens-ankersmit\/\"><em>Achmea. v Slovak Republic<\/em><\/a> case, which found that certain provisions of the <span class='tooltipsall tooltipsincontent classtoolTips45'>TFEU<\/span> \u201cmust be interpreted as precluding a provision in an international agreement concluded between Member States\u201d that would allow an investor from one member state to initiate arbitration proceedings against another member state.<\/p>\n<p>The political <a href=\"https:\/\/ec.europa.eu\/info\/sites\/info\/files\/business_economy_euro\/banking_and_finance\/documents\/190117-bilateral-investment-treaties_en.pdf\">declaration<\/a> was signed by Austria, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Germany, Estonia, Greece, Ireland, Italy, Latvia, Lithuania, the Netherlands, Poland, Portugal, Romania, Slovenia, Spain and the United Kingdom.<\/p>\n<p>The 22 countries involved have agreed to \u201cterminate all bilateral investment treaties concluded between them by means of a plurilateral treaty, or, where that is mutually recognised as more expedient, bilaterally.\u201d They have set a December 6, 2019 deadline for ratifying that plurilateral treaty.<\/p>\n<p>These EU member states will also direct investors to hold off on any new intra-EU arbitration proceedings, and with regard to ongoing cases, will inform the relevant tribunals, and EU member states that are defendants in those cases are to ask the relevant courts to either drop intra-EU investment arbitration awards or to make sure these are not put into effect.<!--more--><\/p>\n<script type=\"text\/javascript\"> toolTips('.classtoolTips32','International Institute for Sustainable Development<!--more-->'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips33','Institut international du d\u00e9veloppement durable'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips34','Instituto Internacional para el Desarrollo Sostenible'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips42','Court of Justice of the European Union'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips43','investor\u2013state dispute settlement'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips45','Treaty on the Functioning of the European Union'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips58','soluci\u00f3n de controversias inversionista-Estado'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips60','Investment Treaty News'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips67','Energy Charter Treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips104','responsabilit\u00e9 sociale des entreprises'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips109','Corte de Justicia Europea'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips114','Sistema de Tribunales de Inversiones'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips116','European Commission'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips117','European Union'); <\/script>","protected":false},"excerpt":{"rendered":"<p>Twenty-two <span class='tooltipsall tooltipsincontent classtoolTips117'>EU<\/span> 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.<script type=\"text\/javascript\"> toolTips('.classtoolTips63','Bilateral investment treaty'); <\/script><script type=\"text\/javascript\"> toolTips('.classtoolTips104','responsabilit\u00e9 sociale des entreprises'); 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