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)

Reuters | 14-Dec-2017
India’s top court allowed Britain’s Vodafone to initiate a second arbitration process under an India-UK investment pact .
L’Express | 8-Dec-2017
L’Union européenne et le Japon ont annoncé, dans un communiqué commun, avoir "finalisé" l’accord de libre-échange qu’ils négociaient depuis 2013.
Nikkei | 8-Dec-2017
Japan and the European Union finalized negotiations on a free trade deal, with the two sides aiming to implement it in early 2019.
Cour permanente d’arbitrage | 7-Dec-2017
Tenue de l’audience sur le fond et sur les questions en suspens relatives à la compétence et à la recevabilité à La Haye
Permanent Court of Arbitration | 7-Dec-2017
Hearing on the merits and remaining issues of jurisdiction and admissibility held in The Hague.
CIEL | 5-Dec-2017
A new report released today warns that the European Commission’s proposed Multilateral Investment Court threatens to lock in an undemocratic investor-state dispute settlement scheme that undermines national democratic authority.
No al TTIP | 4-Dec-2017
Un Tribunal Mundial para las Corporaciones: los planes de la Unión Europea para expandir e institucionalizar las disputas entre inversores y Estados.
Vietnam+ | 4-Dec-2017
The FTA is expected to be completed and start in 2018 or 2019, while the ISDS will be discussed and agreed in later years.
Japan News | 4-Dec-2017
Japan and the European Union intend to bring an economic partnership agreement into effect in 2019 as planned by finalizing tariff-related measures first and setting aside those on investment.
No al TTIP | 1-Dec-2017
La Comisión Europea está presionando para la creación de un Tribunal Multilateral de Inversiones (MIC, por sus siglas en inglés) incluso mediante la tergiversación de los resultados de la consulta que llevó a cabo a principios de año.

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