The European Commission’s Non-Paper on Model Clauses for Member States’ BITs with Third Countries

In October last year, the European Commission released a Non-Paper on Model Clauses with Annotations for EU Member States’ negotiation of bilateral investment treaties (“BITs”) with third countries. Non-papers do not communicate an official position of the Commission. The Model Clauses are not an official ‘EU Model BIT’ but suggestions for Member States’ BITs. The … Read more

The European Commission proposes withdrawal from the Energy Charter Treaty

On 7 July 2023, the European Commission formally proposed a coordinated European Union withdrawal from the Energy Charter Treaty (ECT), one of the world’s largest multilateral investment treaties, citing its incompatibility with the EU’s enhanced climate ambitions under the European Green Deal and the Paris Agreement. This comes against the background of long-running – and … Read more

AGREEMENT FOR THE TERMINATION OF INTRA-EU BITS ENTERS INTO FORCE

On 29 August 2020, the Agreement for the Termination of Bilateral Investment Treaties (the “BITs”) between the Member States of the European Union (the “EU”) (the “Termination Agreement”) entered into force. As discussed in one of our previous blog posts, the Termination Agreement was signed on 5 May 2020 by 23 EU Member States. In … Read more

UK SUPREME COURT LIFTS STAY OF ENFORCEMENT OF ICSID AWARD AGAINST ROMANIA

In Micula and others (Respondents/Cross-Appellants) v Romania (Appellant/Cross-Respondent) [2020] UKSC 5 the UK Supreme Court (the “SC”) found that the duty of sincere cooperation under EU law does not preclude enforcement of an ICSID Convention (the “Convention”) award against Romania (the “Award”). In what is the enforcement stage of the long-running and well-known saga of … Read more

European Commission issues procedural proposals for the Investment Court System envisaged under CETA

In October 2019, the European Commission (the “Commission“) presented four proposals (the “Proposals“) to the Council of the European Union (the “Council“) with specific rules to establish the Investment Court System (“ICS“) envisaged under the EU-Canada Comprehensive Economic and Trade Agreement (“CETA“). If the Council and the EU Member States approve the Proposals, the EU … Read more

5TH EFILA ANNUAL CONFERENCE 2020: INVESTMENT PROTECTION IN THE EU: ALTERNATIVES TO INTRA-EU BITs (30 JANUARY 2020)

We are pleased to be hosting the fifth Annual Conference of the European Federation for Investment Law and Arbitration (EFILA), to take place on 30 January 2020 at Herbert Smith Freehills’ offices in London. This year’s conference will focus on ‘Investment Protection in the EU: Alternatives to Intra-EU BITs’, and will cover the topics: Investment/investor … Read more