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)

IISD | 26-Nov-2019
Un tribunal du CIRDI a ordonné à l’Espagne de verser 290,6 millions d’euros à deux investisseurs néerlandais.
IISD | 26-Nov-2019
An ICSID tribunal held that Spain violated Fair and Equitable Treatment under the Energy Charter Treaty.
IISD | 26-Nov-2019
Un tribunal del CIADI dictaminó que España violó el trato justo y equitativo bajo el Tratado sobre la Carta de la Energía.
IISD | 26-Nov-2019
Un tribunal du CIRDI déterminait que l’Espagne avait violé le traitement juste et équitable au titre du Traité sur la Charte de l’énergie.
Réalités | 25-Nov-2019
Le tribunal arbitral ordonne à l’Etat tunisien de remettre les états financiers de la banque à ABCI.
Politis | 21-Nov-2019
La France doit quitter le Traité sur la charte de l’énergie, car il est une arme entre les mains des multinationales pour ralentir ou bloquer des politiques climatiques ambitieuses.
Stock Market Wire | 12-Nov-2019
Aura Energy lodged a claim against Sweden to recover the losses incurred from the Haggan uranium project following the country’s decision to ban uranian mining.
Real Clear Politics | 5-Nov-2019
Petroceltic, a UK-based global energy company, has initiated arbitration proceedings against the Egyptian General Petroleum Corporation.
Ahval | 4-Nov-2019
Ankara is in conflict with an international investment tribunal after a Turkish court has rejected a demand to halt criminal proceedings regarding a Turkish media tycoon and his family.
Herbert Smith Freehills | 31-Oct-2019
While the geopolitical tensions remain, the legal landscape continues to evolve. It seems likely that more claims will be brought in each direction.

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