Arbitration Links - Linklaters
  • Topic: Investment Arbitration

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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