Since the election of President Gustavo Petro, Colombia’s executive has repeatedly proposed structural reforms that undermine foreign investment across sectors, reflecting a worrisome trend across Latin America. Despite...more
On 23 July 2024, a distinguished international arbitral tribunal issued a significant decision on provisional measures in Klesch Group and Raffinerie Heide v. Germany (ICSID Case No. ARB/23/49). The three arbitrators – Mr....more
Two ICSID tribunals have recently upheld Spain’s intra-European Union (EU) jurisdictional objections in two arbitrations pursuant to the Energy Charter Treaty (“ECT”). Both cases arise out of Spain’s decision to modify its...more
In a highly anticipated ruling published last month, the U.S. Court of Appeals for the D.C. Circuit ruled in NextEra Energy v. Spain that U.S. district courts have jurisdiction to enforce arbitral awards issued in intra-EU...more
Some readers will be familiar with the many claims made against Spain for the alleged violation of its obligations to foreign investors under the Energy Charter Treaty (the ECT). In May 2023, the English Commercial Court...more
The tribunal in Green Power v. Kingdom of Spain declined jurisdiction, finding that the parties had not validly consented to arbitration under the Energy Charter Treaty. A tribunal seated in Sweden has become the first...more
The Contracting Parties to the Energy Charter Treaty (ECT) on June 24, 2022, announced their agreement in principle on the modernization of the ECT. Part of the agreement “confirm[s] that an investor from a Contracting Party...more
On July 1, 2022, the amended Regulations and Rules of the International Centre for Settlement of Investment Disputes (ICSID) (the 2022 Rules) will come into effect after being approved by the Member States on March 21,...more
On 21 March 2022, a comprehensively updated set of rules and regulations for ICSID arbitration, conciliation, and mediation proceedings was approved. The new rules and regulations will go into effect on 1 July 2022. The...more
The World Bank’s International Centre for Settlement of Investment Disputes (ICSID), the leading arbitration venue for investor-State arbitration, has released its FY2020 caseload statistics. This information indicates...more
In 2018, the Court of Justice of the European Union (“CJEU”) rendered a judgment in the Achmea case, which has led to much controversy and concern in the European investor-state arbitration community. ...more
An International Centre for Settlement of Investment Disputes (ICSID) tribunal has recently dismissed the jurisdictional challenges of the Republic of Cyprus and is pushing ahead with a multiparty arbitration commenced by...more
ICSID tribunal retains jurisdiction, rejecting Germany and European Commission’s arguments that intra-EU arbitration under ECT incompatible with EU law - On 31 August 2018, the arbitral Tribunal hearing the claim by...more
The Ruling: On March 6, 2018, the Court of Justice of the European Union ("CJEU") issued a judgment in the Achmea v. Slovakia case on whether the investor–state arbitration provision in the Netherlands–Slovakia Bilateral...more
CJEU ruling on the incompatibility of a BIT provision with EU law may have implications for existing intra-EU BITs. Key Points: ..The CJEU’s decision differs from Advocate-General Melchior Wathelet’s 2017 Opinion and...more
The International Centre for Settlement of Investment Disputes (ICSID) tribunal recently reaffirmed the high threshold for granting provisional measures in investor-state disputes, including in the context of making an order...more
In This Issue: -The ABCs of Arbitrating Outside of the New York Convention - Leading International Arbitration Partner Joins Latham & Watkins in Paris - US Supreme Court Revives International Arbitration...more