By Guofang Xue[1] Introduction While the EU and its Member States have decided to withdraw from the Energy Charter Treaty (“ECT”), citing the ECT’s incompatibility with green energy goals, Switzerland remains mindful of such a decision’s potential impact on Swiss energy companies and investment funds. In a landmark judgment dated 3 April 2024 (Case No.… Read More The Swiss Supreme Court weighs in on Achmea and Komstroy
by Prof. Nikos Lavranos[1] In June 2022, an agreement “in principle” was achieved among all Energy Charter Treaty (ECT) contracting parties (including the European Union (EU) and all of its Member States) on the modernized ECT text. Withdrawal of the EU and EU Member States from the ECT Despite this agreement “in principle” several EU… Read More Saving the Modernized Energy Charter Treaty Helps Save the Climate
by Aleksander Kalisz[1] In the recent Infrastructure Services Luxembourg v Spain [2023] EWHC 1226 (Comm), the English High Court dismissed an application by Spain to set aside an order to register an ICSID arbitral award in favour of Infrastructure Services Luxembourg. In doing so, the High Court rejected Spain’s objection to the enforcement of intra-EU… Read More Intra-EU Objections and Enforcement of ICSID Awards: English High Court Takes a Pro-arbitration Stance
As we return to our offices, hopefully feeling refreshed and recharged after a summer break, it is time to reflect on the last three months of developments in international investment law and arbitrations. The third quarter of this year has been marked by significant changes and noteworthy trends not only vis-à-vis the Energy Charter Treaty… Read More Quarterly Review: July – September 2023
By Cristian Gallorini[1] Legal stability and predictability are core elements of the rule of law. In the case of foreign investments in renewable energy (RE) the concept of stability imbues distinct aspects of the investment cycle, including the arbitrability of disputes. First, stability of the investment conditions is fundamental to foreign investors. Second, International Investment… Read More Revisiting the Blusun dictum: A Roadmap for a Proportionality Analysis of the Breach of Stability in the Fair and Equitable Treatment Standard
By Agata Daszko[1] On 27 July 2023, Germany’s Federal Court of Justice (Bundesgerichtshof or BGH) issued a long-awaited decision (I ZB 43/22, I ZB 74/22 and I ZB 75/22) pertaining to intra-EU arbitration on the basis of the Energy Charter Treaty (“ECT”). The decision? “Upstream national legal protection is possible against intra-EU investor-State ICSID arbitral… Read More Germany’s Highest Civil Court Affirms “Primacy of Application of Union Law – Also Vis-à-Vis Public International Law” in Intra-EU Investment Arbitration
While we slowly approach summer holidays, it is now time for a new quarterly review. In this QR, we summarised the main developments in the field of ISDS and EU law divided by topic, instead of by months. Paragraph I. provides an update on the latest news on the modernisation of the ECT and the… Read More Quarterly Review: April – June 2023
By Anastasia Choromidou[1] and Mark Konstantinidis[2] In May 2023, an ICSID ad hoc committee contributed the latest episode to the Spanish solar arbitration saga, by rejecting Spain’s arguments based on the CJEU Komstroy ruling on intra-EU arbitration. The BayWa v Spain annulment decision reflects the tense, from a doctrinal and institutional perspective, relationship between EU… Read More BayWa v Spain: No annulment for old objections
The first quarter of 2023 proved rife with important developments in international investment law and arbitration involving Europe, the United States and the Indo-Pacific area. The star of the show remains the ECT, and its troubled relationship with the European Union and its Member States. Indeed, by the beginning of March, the Depositary of the… Read More Quarterly Review: January – March 2023
The Editorial Board of the EFILA Blog is excited to share the first EFILA Blog Quarterly Review! Our editors have gathered and reviewed developments, events and publications from the last quarter of 2022 to highlight some of the most relevant news in the field of international investment law, arbitration and the intersection of ISDS with… Read More Quarterly Review: October – December 2022