One of the Advocates General to the Court of Justice of the European Union, Advocate General Bot, has issued an opinion confirming that the mechanism for the settlement of disputes between investors and states provided for in the Comprehensive Economic and Trade Agreement between the EU and Canada (the CETA) is compatible with European Union law.
We discuss the content of the Advocate General’s opinion on our new blog piece, published on our Public International Law blog here.
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Members of the HSF Paris disputes team have played a key role in obtaining a successful ICSID award for Chèque Déjeuner (“CD“), the French meal voucher issuer. The claim related to tax reforms introduced by the Orban government which effectively excluded CD (and other foreign voucher-issuers) from the Hungarian market. As a result, CD commenced ICSID proceedings under the France-Hungary bilateral investment treaty (“BIT“) in December 2013, alleging that Hungary had breached its obligations in respect of expropriation and fair and equitable treatment (“FET“).
In its decision of 3 March 2016 (I ZB 2/15), published on 11 May 2016, the German Federal Court of Justice ("BGH") announced that it would request the Court of Justice of the European Union ("CJEU") to make a preliminary ruling on the validity of arbitration agreements concluded under intra-EU bilateral investment treaties pursuant to Art. 267 TFEU. While this decision takes the underlying investor state dispute to yet another level, the BGH's request for preliminary ruling by the CJEU bears the potential of becoming a turning point in the history of investor state dispute settlement in that it forces the CJEU to rule on the relationship between EU law and international investment law.