Europe

European Union member states have signed over 1500 trade agreements with third countries, in addition to some 200 bilateral investment treaties (BIT) between EU members. Non-EU European states are party to over 700 trade agreements. Most of all of these contain investor-state dispute settlement (ISDS) provisions.

The EU as such has only ratified one treaty with an ISDS mechanism, the Energy Charter Treaty (ECT), to which 52 European and Central Asian countries are party. The EU is also in the process of ratifying comprehensive trade agreements with Canada (CETA) and Singapore, both of which include ISDS provisions, and is currently negotiating trade deals with the US (TTIP), India, Malaysia, Vietnam and many other countries.

The EU has initiated the majority of disputes if all claims submitted by EU member states are grouped together (300 from the 28 member states put together in 2014). Only 11% of awards in favour of investors from the EU have been made public, corresponding to a total known amount of about €3.5 billion. European states altogether have been targeted in 46% of all cases (2013).

At the end of 2014, the number of intra-EU ISDS disputes amounted to 99, approximately 16% of all cases globally, half of which having been brought under the ECT.

Overall, the Czech Republic, Spain and Poland have been among the ten most frequent respondent states, while the Netherlands, the United Kingdom, Germany, France, Italy, Spain and Switzerland have been among the ten most frequent home states of the investor.

The most well-known cases include:

Yukos (Isle of Man) vs. Russia: US$50 billion awarded in 2014 to majority shareholders of the oil and gas company (ECT invoked).

Eureko (Netherland) vs. Poland: case settled in 2005 for about €2 billion in favour of the investor, a large European insurance company (Netherland-Poland BIT invoked)

Ceskoslovenska Obchodni Banka (Czech Republic) vs. Slovak Republic: €553 million awarded in 2004 to the investor, one of the largest commercial banks in the Czech Republic (Czech Republic-Slovak Republic BIT invoked)

(March 2016)

Alternatives Economiques | 20-Sep-2019
Un nouveau cas de litige entre investisseurs étrangers et Etats se profile dans le cadre du Traité sur la Charte de l’énergie, à l’origine de nombreuses affaires qui ont défrayé la chronique en Europe.
Lexology | 19-Sep-2019
A federal court in Washington, DC has recognized and enforced a US$331 million arbitral award against Romania under an intra-EU BIT—notwithstanding the objection of the European Commission that the award is incompatible with EU law.
UNIAN | 17-Sep-2019
PrivatBank commenced the arbitration on April 13, 2015, for breaches of the Russian Federation’s obligations towards PrivatBank’s assets in Crimea.
Cinco Días | 16-Sep-2019
Schwab Holding y OperaFund Ecoinvest ganan un laudo arbitral.
AFTINET | 16-Sep-2019
German company Uniper has threatened to bring an ISDS case against the Dutch government after a decision to ban coal-based power generation by 2030.
Zinfos Moris | 16-Sep-2019
Deux investisseurs français, le professeur Christian Doutremepuich et Francois Doutremepuich, avait initié une action pour obtenir un arbitrage.
Energy Voice | 12-Sep-2019
The European Commission is taking steps to reduce the prospect of future claims by demanding the reform of the Energy Charter Treaty.
Mondaq | 12-Sep-2019
The traditional mechanism of investment arbitration between the investor and the host State has been under attack for some time now from a range of actors and for a variety of reasons.
Outlook India | 10-Sep-2019
UK’s Cairn Energy on Tuesday said the arbitration process against India on imposition of retrospective tax demand is likely to be protracted and a decision is not expected before late 2019.
Global Legal Chronicle | 6-Sep-2019
Squire Patton Boggs has successfully defended the Republic of Estonia against a US$100 million investment treaty claim brought by Estonian water provider AS Tallinna Vesi and its Dutch shareholder United Utilities.

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