EU members should terminate extra-EU BITs. To facilitate the process, the EU could spearhead an instrument similar to the plurilateral agreement to terminate intra-EU BITs or based on the draft treaty language on termination proposed to UNCITRAL.
France’s highest court has brought an end to the $1.4 billion legal battle over the resolution of FBME Bank, ruling that the Central Bank of Cyprus acted prudently and did not breach any obligations under a bilateral investment treaty between Cyprus and Lebanon.
In this report, we present three practical approaches governments can consider in the near
term to address their current stock of international investment agreements with ISDS.
Invoking the Australia-Poland bilateral investment treaty, together with the Energy Charter Treaty, Green X has been awarded hundreds of millions of dollars over a thwarted mining project.
In October 2024, the Colombia-UK Bilateral Investment Treaty reaches the end of its initial ten-year term. The UK and Colombian governments now have the opportunity to work together to terminate the treaty.
A UNCTAD note has highlighted the significant growth in damages in Investor-State Dispute Settlement. The average award size grew tenfold in the past three decades.