{"title":"Commission v. Hungary (Case C-235/17): Some Reassurance for Investors on the Substantive Protections for Expropriation under EU Law","authors":"M. Grégoire","doi":"10.1163/24689017_00401012","DOIUrl":"https://doi.org/10.1163/24689017_00401012","url":null,"abstract":"The question of the degree of overlap between the substantive provisions generally found in investment treaties and EU law was left unanswered by Case C-284/16 Slowakische Republik v. Achmea B.V. From a practical perspective, investors are left in doubt: assuming that they cannot rely on a dispute resolution clause such as that at issue in Achmea, does EU law offer substantially identical protection? The recent decision of Case C-235/17 Commission v. Hungary may go some way towards reassuring investors EU law may provide materially similar protections to some of the substantive protections ordinarily found in bits. This note (I) provides a summary of the views of the Commission (and respondent Member States) on the issue of the overlap between substantive protections generally found in investment treaties and EU law, (II) considers the Opinion of Advocate General Wathelet on the same issue and (III) considers the decision of Commission v. Hungary.","PeriodicalId":164842,"journal":{"name":"European Investment Law and Arbitration Review Online","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130354564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Vattenfall in the Aftermath of Achmea: Between a Rock and a Hard Place?","authors":"Venetia Argyropoulou","doi":"10.1163/24689017_00401009","DOIUrl":"https://doi.org/10.1163/24689017_00401009","url":null,"abstract":"On 6 March 2018, the Court of Justice of the European Union (CJEU) issued its judgment in the case between Slovakia v. Achmea BV (Case C-284/16). The CJEU ruled that the investor-state dispute settlement (ISDS) provisions in the Netherlands-Slovakia bilateral investment treaty are incompatible with the principle of autonomy of EU law. This addressed a highly controversial issue that has been lingering for years: whether bilateral investment treaties (BITS) concluded between EU Member States are compatible with EU law. The judgment has caused controversy amongst scholars and international practitioners, and its significance is undeniable. Yet, the judgment has led to many unanswered questions, including, inter alia, what EU law requires of arbitral tribunals in such cases, how the seat of the arbitration tribunal may affect the outcome of the above judgement and whether the outcome of the judgement is limited to intra-EU BITS. This Article will reflect on these open issues and will endeavour to respond such issues by examining the application of the above ruling in the context of the case Vattenfall AB and others v. Federal Republic of Germany (II) (ICSID Case No. ARB/12/12) as well as other recent investment arbitration decisions.","PeriodicalId":164842,"journal":{"name":"European Investment Law and Arbitration Review Online","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122251124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comparative Analysis between the 2018 and 2004 Dutch Model Bilateral Investment Treaty Texts","authors":"Adam Marios Paschalidis, N. Lavranos","doi":"10.1163/24689017_00401005","DOIUrl":"https://doi.org/10.1163/24689017_00401005","url":null,"abstract":"This article compares the recently published 2018 Dutch model bilateral investment treaty text (2018 Model bit) and the former 2004 version. The changes to the 2018 Model BIT reflect the reaction by European Union (EU) Member States to the increasing number of investor-state disputes against them, the general backlash against free trade agreements (FTA), and the CJEU’S decision in Achmea. Furthermore, the drafters of the new Dutch Model bit carefully took into consideration the framework of the EU-Canada Comprehensive Economic and Trade Agreement (CETA) and the European Commission’s proposal for the establishment of an Investment Court System (ICS) as a substitute for the current investor-state dispute settlement system (ISDS). As a result, the 2018 text incorporates significantly stricter provisions than the ones of the former version.","PeriodicalId":164842,"journal":{"name":"European Investment Law and Arbitration Review Online","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114890921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Uneasy Relationship between Intra-EU Investment Tribunals and the Court of Justice’s Achmea Judgment","authors":"Szilárd Gáspár-Szilágyi, M. Usynin","doi":"10.2139/ssrn.3496797","DOIUrl":"https://doi.org/10.2139/ssrn.3496797","url":null,"abstract":"This article focuses on the ways in which investment tribunals constituted under intra- EU BITS and the Energy Charter Treaty (in an intra-EU dispute) have reacted to the Court of Justice’s Achmea judgment of 6 March 2018. The first part of the article maps out the existing intra-EU arbitrations in which the issues arising from Achmea appear in one form or another. We then take a critical look at how the disputing parties have used Achmea in their argumentation and how the investment tribunals have dismissed these arguments and upheld their jurisdiction. The second part of the article is analytical. When the tribunals uphold their jurisdiction and decide on the merits, they knowingly deliver an award, which is unenforceable in the Respondent State and the entirety of the EU. By drawing parallels with decisions rendered by other international tribunals, we argue that the rendering of potentially unenforceable awards is not specific to intra-EU investment disputes. We then look at why international tribunals render potentially unenforceable awards. The third part of the article presents several suggestions of how intra-EU investment tribunals should tackle the Achmea conundrum, either by declining their jurisdiction pursuant to judicial comity or upholding their jurisdiction but dismissing the cases as inadmissible.","PeriodicalId":164842,"journal":{"name":"European Investment Law and Arbitration Review Online","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114153870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}