Practical Law

The saga of the intra-EU bilateral investment treaties (intra-EU BITs) has taken many forms on different battlegrounds and its relevance goes beyond the borders of the European Union. From its genesis in Achmea v Slovak Republic, passing through many enforcement attempts outside the EU (as previously covered here and here), to its potential apocalypse with … Continue reading From genesis to apocalypse: As Belgium heralds the end of the uncertainty on intra-EU BITs, has the UK missed an opportunity in a post-Brexit world? →

On 6 May 2020, the European Commission announced that a majority of EU member states had signed the Agreement for the Termination of Bilateral Investment Treaties (BITs) between the Member States of the EU. The agreement will have a significant impact on the protective measures bestowed upon EU investors who have businesses in other EU … Continue reading Agreement for the termination of intra-EU BITs signed: the bell tolls? →

The Micula v Romania world tour continues. In a judgment handed down by the UK Supreme Court on 19 February 2020, the court held that the Miculas were entitled to enforce their ICSID award of approximately US $331 million against Romania, despite the fact that the award remains subject to an ongoing state aid investigation … Continue reading Micula v Romania: rematch clause activated? →

In the latest round of the long-running Micula saga, the US District Court for the District of Columbia has confirmed an ICSID award against Romania, entering judgment for approximately US $331 million in an action to enforce the award.