Why Komstroy Cannot be the Last Word: more investment into greening the economy requires to bury Achmea, Komstroy, Micula and others (Part II)

By Herbert Woopen[1] In Part I, this post explored and analysed domestic regulations in Italy concerning investment and ECJ’s decisions stemming from those. Now, Part II will look at international law solutions and will analyse how the European Union could and should amend past erroneous decisions. III. The role of International Law where EU Law … Continue reading Why Komstroy Cannot be the Last Word: more investment into greening the economy requires to bury Achmea, Komstroy, Micula and others (Part II)

Why Komstroy Cannot be the Last Word: more investment into greening the economy requires to bury Achmea, Komstroy, Micula and others (Part I)

By Herbert Woopen[1] I. Introduction: The EU’s ambition The EU has for a long time wished to be the frontrunner for innovative investments in green technology and strived to secure future economic growth for European companies exporting products for a sustainable world economy, products that are and will be invented in Europe. These intentions deserve … Continue reading Why Komstroy Cannot be the Last Word: more investment into greening the economy requires to bury Achmea, Komstroy, Micula and others (Part I)

CSR in Investment Arbitration: The long way ahead

by Ioana Maria Bratu[1] Context States’ failure to meet the 2015 Paris Agreement targets has already had substantial impacts on the world of arbitration, including national courts imposing CO2 levels reduction on big oil companies, NGOs becoming much more involved in climate change disputes (see here para. 3.5), and recently culminating with Belgium, France, Spain … Continue reading CSR in Investment Arbitration: The long way ahead

Untapped Potential of MFN Clauses: an MFN clause to invoke another “more” MFN clause

By Danilo Ruggero Di Bella[1] On the premise that not all most-favoured-nation (MFN) clauses are created equal, this piece will explore whether it is possible to combine an MFN clause with a more favourable MFN clause contained in another treaty. The objective of doing so, would be to invoke another provision in that treaty (or … Continue reading Untapped Potential of MFN Clauses: an MFN clause to invoke another “more” MFN clause

Modernisation of the Energy Charter Treaty: A necessary turning point for investment protection in the energy sector?

By Agata Daszko[1] and Kilian Wagner[2] Introduction The Energy Charter Treaty (“ECT” or “Treaty”), signed in December 1994 in Lisbon, has its origins in the 1990 proposal of the Dutch Prime Minister, Ruud Lubbers, which first resulted in the European Energy Charter of 1991 as a political declaration and continued in the negotiations for a … Continue reading Modernisation of the Energy Charter Treaty: A necessary turning point for investment protection in the energy sector?

Green Power v. Spain: Intra-EU Game Changer or an Exception that Confirms the Rule?

by Iván Levy[1] Introduction On June 16, 2022, the Tribunal in Green Power Partners K/S & SCE Solar Don Benito APS v. The Kingdom of Spain (Green Power v. Spain) issued its award and became the first tribunal to uphold the so-called intra-EU objection.[2] After a large number of decisions historically rejecting the objection, is … Continue reading Green Power v. Spain: Intra-EU Game Changer or an Exception that Confirms the Rule?

Stakeholder meeting on a possible future Multilateral Investment Court: Establishment of a Multilateral Investment Court (Brussels, 15 January 2020)

José Rafael Mata Dona1 As in the previous session of the stakeholder meeting organized by the European Commission (see here), this roundup started with a brief recap of the whole process of the UNICTRAL Working Group III (for a more detailed review of the EU’s proposal for a MIC and ISDS reform under the auspices of UNCITRAL … Continue reading Stakeholder meeting on a possible future Multilateral Investment Court: Establishment of a Multilateral Investment Court (Brussels, 15 January 2020)

Investment Tribunals Are Too Quick to Establish the Existence of Issue and Cause of Action Estoppel in International (Investment) Law

Alexandros-Cătălin Bakos[1] There is no denying that there is a serious backlash against investment arbitration at the moment. The signs are everywhere: from the latest discussions occurring within UNCITRAL’s Working Group III to the more recent practice of states (see the 22 European Union Member States’ declaration concerning the termination of their intra-EU Bilateral Investment … Continue reading Investment Tribunals Are Too Quick to Establish the Existence of Issue and Cause of Action Estoppel in International (Investment) Law

Ensuring Equitable Access to All Stakeholders: Critical Suggestions for the MIC (EFILA Submission to the UNCITRAL WG no. 3 on ISDS Reforms)

EFILA has recently submitted its suggestions to the UNCITRAL Working Group no. 3 on ISDS Reform. The entire document can be found here. An extract can be read below. The European Federation for Investment Law and Arbitration (EFILA) believes that no discussion about the reform of the investor-State dispute settlement (ISDS) system should occur without … Continue reading Ensuring Equitable Access to All Stakeholders: Critical Suggestions for the MIC (EFILA Submission to the UNCITRAL WG no. 3 on ISDS Reforms)

Schrödinger’s Investment: the EU’s General Court Considers that the Compensation Ordered by the Micula Tribunal is Not a Form of State Aid (Although it Might as Well Have Been)

Alexandros Catalin Bakos, LL.M. Candidate, Utrecht University In a somewhat fortunate turn of events for the stability (or what is left of it in any case) of the intra-European Union (intra-EU) investment treaty system, the General Court of the European Union (GCEU) has annulled the EU Commission’s decision rendered against Romania for illegal state aid … Continue reading Schrödinger’s Investment: the EU’s General Court Considers that the Compensation Ordered by the Micula Tribunal is Not a Form of State Aid (Although it Might as Well Have Been)