19 April 2023
Achmea Goes to Washington
Recently, a US District Court trashed a Dutch company's arbitral award against Spain. Why? Because investor-state arbitration within the EU violates European law. Yet, many tribunals keep issuing arbitral awards - especially under the infamous Energy Charta Treaty. Challenging those awards in domestic courts outside the EU, like here in Washington D.C., might work as corrective to the continuing illegal assumption of jurisdiction and blatant disregard for the EU Treaties by arbitral tribunals. Continue reading >>
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18 November 2022
The Reform That Isn’t
As states are set to vote on the reform of the Energy Charter Treaty (ECT) at a Conference in Ulaanbaatar, Mongolia, on 22 November, concerns regarding the treaty's impact on states' climate policies remain significant. In our assessment, the proposed reform fails to provide the treaty’s contracting parties with the necessary regulatory freedom to implement their climate commitments. Scheduled for the week after COP27, the vote comes at a crucial time, as scientists agree that this is the decisive decade to limit global warming to 1.5°C above pre-industrial levels. Meanwhile, several EU Member States, including Germany, France, Spain, Poland, the Netherlands, and Slovenia have announced unilateral withdrawals from the treaty, stating that the proposed reform fails to meet their expectations. Continue reading >>
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29 June 2022
Trumping International Investment Law
An Award rendered on 16 June 2022 by a Stockholm-seated Arbitral Tribunal unleashed a foreshadowed earthquake regarding intra-EU investment protection disputes. The Tribunal declined jurisdiction based on the intra-EU nature of the dispute, which arose after two Danish companies had invested in Spanish photovoltaic power plants. The Award rendered under the Energy Charter Treaty (ECT) and the arbitration rules of the Stockholm Chamber of Commerce (SCC) marks the first time an arbitral tribunal has denied its jurisdiction (ratione voluntatis) because of the intra-EU objection raised by the Respondent. Continue reading >>
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23 December 2021
The Interplay Between International and National Institutions in Fighting Corruption
The topic of corruption plays a particular role in the international investment regime, as is evidenced by the large number of corruption-based investment cases and the abundant literature on this topic. This blog post discusses the role of arbitral tribunals and local institutions (notably courts and bar associations) in addressing the challenges of corruption by focusing on the so called Piero Foresti, Laura de Carli & Others v. The Republic of South Africa case (hereinafter, the Foresti case). I argue that the reaction of the arbitral tribunal to the allegation of corruption is unsatisfactory and that international and national institutions should operate in complementarity given the transnational nature of the phenomenon of corruption. Continue reading >>
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17 June 2020
Investment Law in Corona Times: How Myths Fuel Injustice
One of the leitmotivs of the discourse around the pandemic is that ‘there cannot be going back to business as usual’ (see here and here). Yet, it is business as usual that is alarmingly looming in Corona times. In this context, at least two developments are worthy of note: the first is the much discussed risk of a wave of Covid-related investment claims. The second, possibly less noticed, is that countries are silently expanding the scope of a system that does not adequately strengthen sustainability in economic relations, despite laconic initiatives to this purpose. Continue reading >>05 March 2020