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)

Street Insider | 26-Feb-2020
JCDecaux SA, an outdoor advertising, invited the Czech Republic to engage in discussions, as the first step in arbitration proceedings.
New Europe | 24-Feb-2020
Ukraine’s joint stock oil and gas company Naftogaz said the group seeks nearly $8 billion of compensation for its assets expropriated by Russia in Crimea.
Lexology | 21-Feb-2020
This is far from the end of the Micula story. Enforcement proceedings continue in the United States, France, Belgium, Luxembourg and Sweden, and there are questions before the CJEU.
Kluwer Arbitration Blog | 20-Feb-2020
When it issued three interim awards for Yukos, the arbitral tribunal noted that the principle of provisional application of treaties was recognized under Russian law.
RFI | 19-Feb-2020
Un tribunal holandés confirmó en apelación la condena a Rusia a pagar 50.000 millones de dólares en indemnizaciones a los accionistas del antiguo grupo petrolero ruso Yukos, hoy desmantelado.
Libération | 18-Feb-2020
Un tribunal néerlandais a condamné en appel la Russie à verser 50 milliards de dollars d’indemnisation aux ex-actionnaires de l’ancien groupe pétrolier Ioukos, aujourd’hui démantelé.
New York Times | 18-Feb-2020
A Dutch appeals court reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.
Algérie7 | 10-Feb-2020
Le tribunal arbitral a rejeté l’ensemble des demandes de la société Consutel, dont un montant s’élevant à 408,880 millions de dollars US, en guise réparations requises pour cause de présumés dommages subis.
Ciar Global | 6-Feb-2020
La compañía portuguesa Mota Engil reclama un total de 25 millones de dólares al estado paraguayo por el fallido contrato del proyecto Metrobús.
Medias24 | 6-Feb-2020
La procédure au fond suspendue dans le litige entre le Maroc et Sholz. La partie marocaine a soulevé une question de compétence. Sholz revoit ses prétentions à la baisse.

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