Topic: Achmea

An ICSID tribunal has rejected an Italian roadbuilder’s claim against Mozambique after dismissing the state’s objection that the Achmea decision precluded it from hearing a dispute under a bilateral investment treaty between an EU member state and a third country.

30 October 2019

A court in Washington, DC, has confirmed an ICSID award in favour of Sweden’s Micula brothers against Romania, rejecting the state’s arguments that it was rendered invalid by the European Court of Justice‘s ruling on intra-EU investment arbitration in the Achmea case.

12 September 2019

An ICSID tribunal has dismissed a €65 million intra-EU claim against Estonia concerning a cap on the profits of water utility companies.

24 June 2019

An ICSID tribunal chaired by Sir Christopher Greenwood QC has upheld jurisdiction over a claim by a group of German banks against Spain, finding that EU law does not preclude arbitration of intra-EU investment disputes under the Energy Charter Treaty despite the views of most EU member states.

21 June 2019

Hungary has applied to annul a €73 million ICSID award that upheld claims by French food voucher services company Sodexo Pass International under an intra-EU bilateral investment treaty.

04 June 2019

A Swedish court has stayed the enforcement of two Energy Charter Treaty awards against Italy worth a combined €20 million – as it considers more requests to consult the European Court of Justice over the treaty’s compatibility with EU law.

29 May 2019

Does the decision by the European Court of Justice in Achmea apply to intra-EU investment disputes under the Energy Charter Treaty? Delegates at GAR Live BITs in Washington, DC heard from lawyers acting for both investors and states on the issue.

17 May 2019

An ICSID tribunal has refused to throw out a European solar investor’s Energy Charter Treaty claim against Italy on the basis of Achmea, also finding that a recent political declaration by EU member states about the ECJ decision does not provide grounds for terminating the case.

10 May 2019

John Gaffney, senior counsel at Al Tamimi & Company in Abu Dhabi, considers the implications of the Achmea judgment for international commercial arbitrations involving the interpretation or application of EU law.

29 April 2019

Stephen Fietta QC of Fietta in London and Robin Oldenstam of Mannheimer Swartling in Stockholm explain why a recent Swedish court decision upholding two intra-EU BIT awards relied on long-established rules of Swedish arbitration law and was consistent with the Achmea judgment.

24 April 2019