ITN December 2018
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Insights
- Multilateral ISDS Reform Is Desirable: What happened at the UNCITRAL meeting in Vienna and how to prepare for April 2019 in New York, by Martin Dietrich Brauch
- Do Developing Countries Really Benefit from Investment Treaties? The impact of international investment law on national governance, by Mavluda Sattorova
- Corporate Social Responsibility Clauses in Investment Treaties, by Laurence Dubin
News in Brief
- European Union moves swiftly toward adopting regulation on screening foreign direct investment
- After sixth ratification, the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) to enter into force on December 30, 2018
- European Union signs trade and investment agreements with Singapore; EU–Japan EPA to enter into force on February 2019
- UNCITRAL Working Group III decides that multilateral reform of ISDS desirable; governments to submit proposals to develop work plan for reform
- Judges of the International Court of Justice decide to no longer participate as arbitrators in ISDS cases
- Negotiations of a legally binding instrument on business and human rights continue at the United Nations
Awards and Decisions
- Achmea judgment analyzed and FET claim granted in ECT case against Spain (Foresight Luxembourg Solar 1 S.à.r.l., Foresight Luxembourg Solar 2 S.à.r.l., Greentech Energy Systems A/S, GWM Renewable Energy I S.P.A. and GWM Renewable Energy II S.P.A. v. The Kingdom of Spain, SCC Arbitration V (2015/150)), by Kirrin Hough
- Kenya prevails in BIT arbitration: British investors’ claims dismissed due to the absence of environmental impact assessment (Cortec Mining Kenya Limited, Cortec (Pty) Limited and Stirling Capital Limited v. Republic of Kenya, ICSID Case No. ARB/15/29), by Xiaoxia Lin
- ICSID tribunal finds Hungary in breach of expropriation clause in France–Hungary BIT (UP and C.D. Holding Internationale v. Hungary, ICSID Case No. ARB/13/35), by Sarthak Malhotra
- Tribunal finds Costa Rica’s measures to protect the environment did not breach FET or its expropriation obligations under CAFTA-DR (David R. Aven and Others v. Republic of Costa Rica, ICSID Case No. UNCT/15/3), by Victoria Khandrimaylo
- Egypt found liable for the shut-down of an electricity plant during the 2011 uprising (Unión Fenosa Gas, S.A. v. Arab Republic of Egypt, ICSID Case No. ARB/14/4), by Ksenia Koroteeva
- ICSID tribunal accepts jurisdiction over investor’s claim under United Kingdom–Czechia BIT but rules in favour of Czechia (A11Y Ltd v. Czech Republic, ICSID Case No. UNCT/15/1), by Trishna Menon