Topic: Achmea

Spain denied ECJ referral over ECT award

A Swedish court hearing Spain’s challenge to a €53 million Energy Charter Treaty award has for a second time refused to consult the European Court of Justice about the treaty’s compatibility with EU law.

02 June 2020

UK and Finland face legal action over intra-EU BITs

The European Commission has launched infringement proceedings against the United Kingdom and Finland for failing to effectively terminate their intra-EU bilateral investment treaties.

14 May 2020

A defining moment for arbitration within Europe

As a new treaty marks the end of intra-EU BITs, Ashique Rahman and Sam Winter-Barker of Fietta LLP in London argue that a forthcoming ruling by the European Court of Justice may also limit the ability of EU member states to enter into contract-based arbitration with private parties.

13 May 2020

New treaty spells end of intra-EU BITs

Two years after the Achmea ruling, a majority of EU member states have signed an agreement to terminate their intra-EU bilateral investment treaties, in what has been called the end of an era for investor-state arbitration in Europe.

06 May 2020

EU states sign treaty to cancel intra-EU BITs

BREAKING: A majority of EU member states have signed an agreement for the termination of intra-EU bilateral investment treaties.

06 May 2020

Hungary challenges intra-EU farming award

Hungary has applied to annul a €7 million intra-EU investment treaty award issued by an ICSID panel in favour of a UK farming company – which has recently launched enforcement proceedings in the US.

26 March 2020

Hungary fails to reopen intra-EU BIT awards

Hungary has failed to persuade ICSID panels to annul or revise a pair of intra-EU BIT awards in favour of European investors in light of the Achmea ruling.

18 March 2020

Swedish court consults ECJ over Poland award

The Supreme Court of Sweden has requested a preliminary ruling from the European Court of Justice on whether the Achmea ruling requires it to set aside two intra-EU BIT awards against Poland – even where the state was found to have consented to the arbitration through its conduct.

26 February 2020

Mass intra-EU claim against Cyprus to proceed

An ICSID tribunal has upheld jurisdiction over a claim by 956 Greek investors against Cyprus to recover €300 million in bonds and bank deposits that were confiscated as part of the state’s financial bailout by European institutions.

10 February 2020

Hungary ordered to pay damages in intra-EU claim

An ICSID tribunal has upheld its jurisdiction and awarded a UK farming company €7 million in an intra-EU investment treaty claim brought over the expropriation of a plot of land – a dispute which also saw an intervention from former UK Prime Minister David Cameron.

14 November 2019

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