Region: Europe

EU Commission launches infringement proceedings over intra-EU BITs

The European Commission has launched infringement proceedings against seven EU member states over their failure to terminate their intra-EU bilateral investment treaties, also threatening a potential ECJ case against one state.

03 December 2021

German Supreme Court upholds bar to intra-EU BIT claim

The German Supreme Court has refused to hear an appeal of a ruling that prevents an Austrian bank from pursuing an intra-EU BIT arbitration against Croatia in light of the Achmea decision.

03 December 2021

Dual nationals resurrect award against Venezuela

The French Court of Cassation has reinstated a jurisdictional award in favour of two Spanish-Venezuelan nationals in a dispute with Venezuela, finding the underlying treaty didn’t require them to hold Spanish nationality at the time they made their investments.

01 December 2021

Chinese investor brings first treaty claim against Finland

An UNCITRAL tribunal is hearing the first known investment treaty claim against Finland, brought by a Chinese investor who was detained and had his business centre raided and shut down on suspicion it was facilitating illegal immigration.

01 December 2021

Contempt case against Deripaska revived on appeal

The Court of Appeal in London has ruled that former Russian deputy finance minister Vladimir Chernukhin can proceed with his bid to have Oleg Deripaska committed to prison for contempt of court – also finding that a judge’s criticism of Clifford Chance arbitration partner Marie Berard “may not have been fair”.

30 November 2021

Cabo Verde faces ICC claim over airline nationalisation

An Icelandic-owned entity has launched an ICC claim against Cabo Verde after the African island nation announced plans to renationalise its flag carrier in the wake of the covid-19 pandemic.

30 November 2021

Law Commission to review UK's 1996 Act

The Law Commission of England and Wales has announced it will conduct a review of the 1996 Arbitration Act to ensure English law remains the “gold standard” for international arbitration.

30 November 2021

Orange head resigns after guilty verdict in Tapie affair

Stéphane Richard has resigned as chairman and CEO of Orange after being convicted over his role in the French government’s decision to submit a €400 million dispute with the late French businessman Bernard Tapie to arbitration.

26 November 2021

Japanese investor wins damages over Spanish solar reforms

An ICSID tribunal has ordered Spain to pay a Japanese investor over €23.5 million plus interest and costs after finding that changes to the state’s renewable energy regime frustrated its legitimate expectations.

25 November 2021

Montenegro not liable for “francogeddon” response

An ICSID tribunal has rejected an Austrian bank’s claim against Montenegro over measures adopted in response to “francogeddon” – the fallout from the Swiss central bank’s decision to scrap exchange rate controls nearly seven years ago.

25 November 2021

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