Arbitration Links - Linklaters
  • Topic: Investment Arbitration

Interview with Matthew Weiniger and Campbell McLachlan on International Investment Arbitration – Substantive Principles, Second Edition

14 June 2018 Matthew Weiniger, Africa; Asia-Pacific; Europe; Latin America; North America

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Last month, Dispute Resolution Partner and Global Co-Head of International Arbitration, Matthew Weiniger was interviewed, together with Professor Campbell McLachlan of the Victoria University of Wellington, by The Arbitration Station.  They were discussing the second edition of their book International Investment Arbitration – Substantive Principles, co-authored with Laurence Shore. In the interview, Matthew and Campbell describe their objectives behind the text and how developments have shaped investment arbitration in the 10 years since the first edition was published.

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Intra-EU investment arbitration post-Achmea: A look at the additional remedies offered by the ECHR and EU law

24 April 2018 Guillaume Croisant; Xavier Taton, Europe

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In its landmark Achmea case, the Court of Justice of the EU (“CJEU”) found the arbitration provision of the bilateral investment treaty (“BIT”) between the Netherlands and Slovakia to be incompatible with EU law (see our previous post for a first analysis).

This decision potentially affects the roughly 200 BITs concluded between the EU Member States, although its overall implications are far from clear. Against that background, however, investors in EU Member States who object to State measures which have impacted their investments elsewhere in the EU might be expected to look for additional routes to a remedy. What might these be? Two which stand out for closer analysis in particular are the European Convention on Human Rights (“ECHR”) and the fundamental principles of EU law.

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OHADA adopts new texts on arbitration and mediation

20 March 2018 Clément Fouchard; Roland Ziade, Africa

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The revised OHADA Uniform Act on Arbitration (the Arbitration Act) and revised Rules on Arbitration of the Joint Court of Justice and Arbitration (the CCJA) (the Rules), as well as the new Uniform Act on Mediation (the Mediation Act), entered into force on 15 March 2018. The fruit of nearly two years of consultations among the 17 Member States of the Organisation for the Harmonization of Corporate Law in Africa (OHADA), these new acts will apply to all proceedings initiated as of such effective date. These acts had all been approved on 23 November 2017 by the OHADA Council of Ministers.

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CJEU judgment in Slovak Republic v. Achmea BV: intra-EU BITs incompatible with EU law

13 March 2018 Julia Grothaus; Rupert Bellinghausen, Europe; Germany

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In the much anticipated judgment of 6 March 2018 (Case C-284/16), the Court of Justice of the European Union (“CJEU”) found the arbitration provision of the bilateral investment treaty (“BIT”) between the Netherlands and Slovakia to be incompatible with EU law. As the decision potentially affects not less than 196 BITs between EU Member States (“intra-EU BITs”), it is likely to have significant consequences for the world of intra-EU BIT arbitration. Yet, its overall implications are far from clear, so that the judgment will loom large for some time to come.

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Mauritius Convention on transparency enters into force

25 January 2018 Sadie Buls, Asia-Pacific; Europe; North America

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The United Nations Convention on Transparency in Treaty-based Investor-State Arbitration (the "Mauritius Convention") entered into force on 18 October 2017. An important development in investor-State dispute settlement (“ISDS”), the Mauritius Convention significantly expands the circumstances in which new transparency provisions – concerning arbitration commencement, publication of documents, third-party input, public hearings and confidential information – may apply. While it will be some time before the Mauritius Convention has broad application, it represents an important evolution for ISDS which has significant implications for States and investors alike.

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Arbitration trends in Sub-Saharan Africa and an introduction to the Webber Wentzel team

18 December 2017 Scheleese Goudy; Vlad Movshovich; Erin Warmington; Duncan Wild, Africa

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The international arbitration landscape in Sub-Saharan Africa is changing at a rapid rate. This blog entry looks at key legal developments in South Africa and Sub-Saharan Africa over the past few months, many of which could be seen to be enhancing the ability of the region’s countries and fora to deal with international disputes expeditiously and efficiently. We also offer our view on the future of the international investment regime in the region.

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Linklaters book launch event: The Political Economy of the Investment Treaty Regime

06 December 2017 Matthew Weiniger, England & Wales

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On Thursday 16 November 2017 Linklaters hosted a special forum to celebrate the launch of a new book, The Political Economy of the Investment Treaty Regime, written by Dr Jonathan Bonnitcha, Dr Lauge Poulsen and Dr Michael Waibel.  The book was recently published by Oxford University Press. 

 

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Adopting a compliance approach to fight corruption and protect investments

30 November 2017 Christian Albanesi; Adam Lurie; Caitlin Potratz, England & Wales; Latin America; North America

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At the 15th annual International Chamber of Commerce’s (ICC) Miami Conference earlier this month, one of the programme’s top-line issues for discussion was the matter of a “compliance” approach to arbitration. Here, Christian Albanesi (Head of Latin American Arbitration), Adam Lurie (US Head of Litigation and Government Investigations), and Caitlin Potratz (Senior US Associate), outline their stance on the topic.  

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English Court examines approach to interpretation of foreign law

09 November 2017 Mikhail Vishnyakov, England & Wales

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In The Kyrgyz Republic v (1) Stans Energy Corporation and (2) Kutisay Mining LLC [2017] EWHC 2539 (Comm) the English High Court rejected a challenge to an award based on a lack of jurisdiction on the part of the Tribunal. The challenge was brought under Section 67 of the Arbitration Act 1996, which applies to all London seated arbitrations. Although the claim concerned the investment protection legislation of Kyrgyzstan, and the application of Kyrgyz law, the Court’s ruling is instructive in the process that the English courts will follow in interpreting the meaning of foreign laws in general (including investment/investor protection legislation).

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First ICSID award to be enforced by an Australian court

06 November 2017 Alexander Fawke, Australia

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In an Australian first, in Lahoud v The Democratic Republic of Congo [2017] FCA 982, the Federal Court of Australia granted leave to two Lebanese investors to have two International Centre for Settlement of Investment Disputes (“ICSID”) awards recognised and enforced in Australia. While the relevant legislation is straightforward and the enforcement of the award unsurprising, it adds another limb of certainty to Australia’s legal framework for the enforcement of foreign arbitral awards.

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The European Commission proposes a move towards a Multilateral Investment Court System

27 October 2017 Guillaume Croisant; Matthew Weiniger, Europe

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The European Commission has recently requested authorisation to launch negotiations to establish a permanent Multilateral Investment Court, which would hear investment disputes under existing and future trade agreements entered into between the EU Member States and third countries. This new court could also replace the Investment Court System provided for by CETA, whose compatibility with EU law will be reviewed by the European Court of Justice following a request introduced by Belgium on 6 September 2017.

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Paris Court of Appeal sets aside ECT arbitration award

03 October 2017 Clément Fouchard, France

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The French courts have had very few opportunities to rule on the setting aside of an investment treaty arbitration award. For this reason, the decision of the Paris Court of Appeal in Moldova v société Komstroy (Court d'appel de Paris, Pôle 1- Chambre 1, République de Moldavie v société Komstroy, 12 avril 2016, n°13/22531) is of great interest. It deals with the degree of control over an investment arbitration award by the French courts and the definition of the legal concept of investment in the Energy Charter Treaty (ECT).

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Advocate General Wathelet endorses intra-EU BITs

27 September 2017 Julia Grothaus; Dr. Rupert Bellinghausen, Europe; Germany

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In a much anticipated opinion in Slovak Republic v Achmea BV (Case C-284/16), Advocate General (“AG”) Wathelet has fostered investor-state arbitration under bilateral investment treaties (“BITs”) between EU Member States (“intra-EU BITs”) by concluding that the arbitration clause in Article 8 of the 1991 Netherlands-Slovakia BIT is compatible with EU law, and that arbitral tribunals established thereunder may refer issues of EU law to the Court of Justice of the European Union (“CJEU”) for preliminary rulings.

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India and Bangladesh to issue joint interpretative note on bilateral investment treaty

05 September 2017 Ula Cartwright-Finch; Matthew Weiniger, Asia-Pacific; India

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A recent press announcement by the Government of India indicates that India and Bangladesh have recently agreed to issue a joint interpretative note in respect of the India Bangladesh Agreement for the Promotion and Protection of Investments, 2009 (“India-Bangladesh BIT”) (the “Note”). According to the announcement, the Note would clarify the interpretations of various clauses in the treaty including the definitions of investor and investment, exclusion of taxation measures and other substantive standards such as most favoured nation, national treatment and fair and equitable treatment. The exact terms of the Note have not been released yet by either India or Bangladesh.

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CEPA: Closer Economic Partnership Arrangement Investment Agreement

31 August 2017 Sadie Buls; Matthew Weiniger, China; Hong Kong

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On 28 June 2017, Hong Kong and mainland China signed two new agreements under the Closer Economic Partnership Arrangement ("CEPA"), a step that has been described by the Hong Kong General Chamber of Commerce as marking a milestone in CEPA’s development. 

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Micula brothers’ ICSID award stayed in the UK following the European Commission state aid decision

17 March 2017 Duncan Hedar, England & Wales; Europe

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Following an application by Romania and the European Commission (as intervener), the English High Court has stayed enforcement of an ICSID award in favour of Swedish business magnates the Micula brothers.  The case will be determined following the decision of the General Court of the European Union in connected proceedings brought by the Micula brothers to annul the Commission’s determination that the payment of the ICSID award by Romania would amount to illegal State aid.    The case raises important questions about the effectiveness of ICSID awards in circumstances where the awards clash with Member States’ obligations under EU law.

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Investment Arbitration in Australia: an update

31 January 2017 Alexander Fawke, Asia-Pacific; Australia

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The past year has seen a number of major developments in international arbitration in Australia, including the conclusion of new trade deals and the long-running Phillip Morris investment arbitration. This article surveys the most important changes in case law, legislation, investor-state dispute resolution and local arbitral institutions in the past year.

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