ITN Quarterly September 2024
Reforming Damages in ISDS and the Problem of Full Reparation
The Coherence Challenge in Tackling Labour Rights Through International Investment Regulations: A case study of Egypt
Current Issue
Reforming Damages in ISDS and the Problem of Full Reparation
The assessment of damages is perhaps the most controversial of all issues covered by UNCITRAL Working Group III (WGIII), whose overall mandate is to identify concerns related to the operation […]
South32 v. Colombia
South32 SA Investments Limited v. Republic of Colombia, ICSID Case No. ARB/20/9 Summary Earlier this summer, in South32 SA Investments Limited v. Republic of Colombia (South32 v. Colombia), an ICSID […]
EU-Angola SIFA comes into force
The European Union (EU)-Angola Sustainable Investment Facilitation Agreement (SIFA) enters into force on September 1, 2024.
UNCTAD Multistakeholder platform holds its second meeting
(Français) La deuxième réunion de la Plateforme multipartite de la CNUCED sur la réforme des AII s’est tenue en septembre 2024.
WTO Public Forum takes place in Geneva
On September 10-13, 2024, the World Trade Organization (WTO) Public Forum took place in Geneva.
UNCITRAL Working Group meets again to discuss a set of reform proposals
The 49th session of United Nations Commission on International Trade Law (UNCITRAL) Working Group III on investor-state dispute settlement (ISDS) Reform took place on September 23-27, 2024, in Vienna.
The German Constitutional Court rejected Achmea-related complaints
In September 2024, the German Constitutional Court has published two orders dated from July 2024 together with a public statement rejecting the Dutch insurer’s challenge to the decision annulling the award in its favour.
European Commission challenges Hungary regarding its approach to intra-EU arbitrations under the Energy Charter Treaty
According to a press release, the European Commission (EC) decided to open an infringement procedure against Hungary, “for undermining the Union’s position on the international stage with regard to the prohibition of intra-EU investor-State arbitrations related to the Energy Charter Treaty (ECT), and for contradicting the case law of the Court of Justice of the European Union.”
The EU, Euratom, and Member States deny benefits to Russian and Belarussian investors under the ECT
On September 25, 2024, the EU, Euratom, and Member States exercised their right under Article 17 of the ECT to deny benefits of the Part III of the treaty which deals with investment protection and promotion to Russian and Belarussian investors.
IISD developed a model inter se agreement to neutralize the ECT sunset clause
IISD has developed a model inter se agreement to neutralize the sunset clause between the EU and non-EU contracting parties of the Energy Charter Treaty.
The Coherence Challenge in Tackling Labour Rights Through International Investment Regulations: A case study of Egypt
The paper examines the coherence challenge between international investment law and labour rights, using Egypt as a case study. It explores how Egypt’s national investment laws and international investment agreements (IIAs) address labour issues. While Egypt’s Investment Law links investment to job creation and employment, it inadequately addresses broader labour rights. Most of Egypt’s older IIAs, particularly bilateral investment treaties, neglect labour rights, potentially leading to regulatory “chill” and labour violation havens. The paper calls for reforms to align these treaties with modern standards, emphasizing state and investor responsibilities to protect labour rights and sustainable development.
ITN Quarterly June 2024
Insights A Proposal for Reforming the Calculation of Damages in Investment-Treaty Arbitration, by Martin Jarrett Awards and Decisions Páramos protection-related case decided in favour of Colombia, this time (Red Eagle […]
A Proposal for Reforming the Calculation of Damages in Investment Treaty Arbitration
The Significance of Causation in Investment Treaty Arbitration Causation is a core component of responsibility, whether legal or moral. Blame will usually only be placed on a person when their […]
Páramos protection-related case decided in favour of Colombia, this time
Red Eagle Exploration Limited v. Republic of Colombia, Award, ICSID Case No. ARB/18/12 Red Eagle v. Colombia is the third arbitration related to Colombia’s efforts to protect the páramos ecosystems, […]
ICSID tribunal rules that emission trading allowances do not constitute “protected” investments under NAFTA
Koch Industries, Inc. and Koch Supply and Trading, LP v. Canada, ICSID Case No. ARB/20/52, Award, March 13, 2024 Summary In an award rendered on March 13, 2024, an ICSID […]
ICSID tribunal concludes Bulgaria breached the ECT through frustration of legitimate expectations and awards damages. Will this award push Bulgaria toward withdrawing from the ECT?
ACF Renewable Energy Limited v. Republic of Bulgaria (ICSID Case No. ARB/18/1) The investors ACF, a company incorporated under Maltese law, was founded shortly before acquiring an investment in Bulgaria. […]
Clarification of the legitimate expectations of investors in relation to the stability of regulatory frameworks
Scholz holding Gmbh c. Royaume du Maroc, award, ICSID n° ARB/19/2 In recent years, investors have frequently invoked the notion of legitimate expectations in alleging a breach of a state’s […]
EU withdrawal from ECT
On May 30, 2024, the Council of the European Union adopted a set of decisions greenlighting the withdrawal of the EU and Euratom from the ECT. The step follows several […]
UK withdraws from ECT, as does Ireland
On April 26, 2024, the United Kingdom notified its withdrawal from the ECT. This follows an earlier announcement of this step by the British government in February, in which Minister […]
EU CSDDD adopted
On April 24, 2024, the European Parliament voted to adopt the Corporate Sustainability Due Diligence Directive (CSDDD), following months of negotiations between EU institutions and member states. While such an […]
Ecuador Referendum
In a referendum on Sunday, April 21, the citizens of Ecuador emphatically voted to keep Article 422 of the country’s 2008 constitution, which prevents Ecuador from using international arbitration to […]
ICSID Appoints New Secretary-General
On April 30, 2024, ICSID’s Administrative Council appointed Martina Polasek as the new ICSID Secretary General. Her term begins on July 1, 2024, when she succeeds Meg Kinnear, who served […]
ITLOS Advisory Opinion
The International Tribunal for the Law of the Sea (ITLOS) has delivered its much-awaited advisory opinion regarding climate change obligations under the UN Convention on the Law of the Sea […]
The European Court of Human Rights finds that Switzerland violated its climate change-related obligations under the Convention
In a landmark judgment, the European Court of Human Rights found that Switzerland was not acting timely, sufficiently, and consistently to fulfill its positive obligations under the European Convention on […]
Swiss Federal Tribunal upholds intra-EU ECT award
As opposed to the approaches taken by various EU member states’ courts (see, e.g., here), the Swiss Federal Tribunal upheld an intra-EU investment award based on the ECT. The highest […]
Another tribunal to reject the Achmea-based jurisdictional objection
Adria Group B.V. and Adria Group Holding B.V. v. The Republic of Croatia, Decision on Intra-EU Jurisdictional Objection, ICSID Case No. ARB/20/6
UNCITRAL tribunal finds Russia liable to pay USD 207.8 million for the unlawful expropriation of the assets of a Ukrainian electricity company
JSC DTEK Krymenergo v Russia, PCA Case No. 2018-41, Award, November 1, 2023
UN General Assembly Resolution on Tax Convention
Based on a draft resolution submitted by Nigeria on behalf of the African Group, the recent United Nations (UN) General Assembly resolution on the UN tax treaty aims to bolster […]
European Commission publishes model BIT clauses between EU member states and third countries
In September 2023, the European Commission has unveiled a non-paper presenting model clauses for BITs between EU member states and third countries. These model clauses, accompanied by annotations, aim to […]
UNCITRAL Working Group III continued its work in Vienna during its 46th session
In October 2023, UNCITRAL delegates to Working Group III gathered again in Vienna to continue their work on ISDS reform. Two topics were discussed—(i) draft provisions on the establishment of […]
UNCTAD’s World Investment Forum
From October 15 to 20, 2023, UNCTAD organized its eighth World Investment Forum in Abu Dhabi. The World Investment Forum highlighted global investment challenges and opportunities. Discussions focused on sustainable […]
British court upholds Nigeria’s challenge against controversial mega-award
The English High Court upheld Nigeria’s challenge against controversial awards in favour of Process & Industrial Developments Limited (P&ID) by finding significant irregularities in the arbitration process. The arbitration awards […]
High-profile coal phase-out intra-EU arbitration discontinued
As we reported earlier, in 2021, the German energy company RWE filed for a controversial ECT arbitration challenging the Netherlands’ coal phase-out. In the context of the arbitration, the Netherlands […]
EU respondent in one of the arbitrations brought by an oil-refining group
EU appears as a respondent in one of the three arbitrations brought by oil-refining companies belonging to Klesch Group (here, here, and here). It has been reported that the trio […]
Billionaire Clive Palmer files another arbitration against Australia
The Singapore company Zeph Investments Pte, owned by Australian billionaire Clive Palmer, has reportedly filed a notice of intention to commence arbitration against Australia based on the Singapore–Australia Free Trade […]
Resources
Complex Designers and Emergent Design: Reforming the Investment Treaty System Anthea Roberts and Taylor St John, American Journal of International Law, 116(1), 96–149. Sept 2021 Available here. Overview of Contract […]