On 19 February 2020, the UK Supreme Court rendered its judgment in Micula and others v Romania. In a unanimous ruling, the court lifted a stay of enforcement of an ICSID arbitral award despite an extant state aid investigation by the European Commission. This decision is the latest stage in the claimants’ long-running attempts to … Continue reading UK Supreme Court paves the way for enforcement of the Micula award
2019 arbitration year in review
2019 proved another busy year for arbitration lawyers, with the biggest story (again) being the European Commission’s drive to reshape the international system for the settlement of investment disputes (ISDS). We summarise the major stories of 2019 and set out what we can look forward to in 2020.
Game over for intra-EU BITs
On 24 October 2019, the European Commission announced that EU member states have reached agreement on a plurilateral treaty for the termination of all of the approximately 190 intra-EU bilateral investment treaties (BITs). The agreement follows the political declarations of member states, issued in January this year, in which they recognised the consequences from the … Continue reading Game over for intra-EU BITs
ISDS: the worst, except for all the others
As discussions around Brexit, US-China and transatlantic trade continue, the question of the best mechanism for settling investor state disputes remains.
Micula v Romania: an OK (and not a KO) in the latest round of proceedings
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.
On 30 April 2019, the Court of Justice of the EU (CJEU) issued its long-awaited Opinion 1/17 regarding the question raised by Belgium of whether the investment court system (ICS), which encompasses a tribunal and appellate tribunal, is compatible with EU law. The approval of the CJEU not only removes the remaining obstacle for the … Continue reading Court of Justice of the EU approves CETA investment court system
The Inter-Pacific Bar Association (IPBA) is an organisation with some similarities to the International Bar Association (IBA), with a regional focus on Asia-Pacific. Its annual conference (the 29th) was this year in Singapore between 24 and 27 April 2019. The conference was well attended by lawyers, experts and various others with an interest in the … Continue reading Reflections on the Dispute Resolution and Arbitration Committee’s sessions at the Inter-Pacific Bar Association Conference in Singapore, April 2019
EU member states agree to terminate their intra-EU BITs: is this the end of intra-EU BIT arbitrations and what about Brexit?
In mid-January this year, all 28 EU member states signed declarations committing to terminate their intra-EU bilateral investment treaties (BITs). 21 EU member states (including the United Kingdom), went further and stated that the Achmea decision (described further below) also applies to intra-EU disputes pursuant to the Energy Charter Treaty (ECT).
Arbitration blog over the 2018 holiday season
At the 12th arbitration, the panel gave to me: 12 investors investing, 11 funders funding, 10 pledgers pledging, nine arbitration clauses, eight arbitral seats, seven Yukos awards, six revised rule sets, five BITs, four NAFTA fall-outs, three arbitrators, two Brexit parties, and the Achmea controversy.* As 2018 draws to a close, so the Practical Law Arbitration … Continue reading Arbitration blog over the 2018 holiday season
2018 arbitration year in review
2018 has been a tumultuous year in the world of arbitration. The European Court of Justice (ECJ) has dealt a blow to European investment arbitration, trade policy under Donald Trump’s administration has rattled investors the world over, long-standing legal sagas have continued, and developments in arbitral rules and legislation have seen a continued focus on … Continue reading 2018 arbitration year in review
