…of power back to the people while still protecting investors.” The ECT Modernization: Withdrawals and Uncertainties Regarding the modernization of the ECT, as extensively covered by the Kluwer Arbitration…
… Modernization or Destabilization? The ECT Modernization Melt-Down The ECT modernization process developed from 2020 until June 2022 (for a summary of the process since 2017, see here) and finalized…
…developments that took place in 2023. 1. Addressing Climate Change in ISDS Reform: The ECT Modernization Process The Energy Charter Treaty (ECT) is perhaps one of the “most controversial”…
…the Energy Charter Treaty (“ECT”). In Komstroy, the Court unsurprisingly followed the views of the CJEU that a supply contract was a commercial transaction and that the resulting debt was…
…the meaning of the ECT, applying it to an arbitration between non-EU parties. S.A. Alstom Transport et Société Alstom Network UK Ltd v. Société Alexander Brothers Ltd, Court of…
…Energy award ordering Spain to pay EUR 106+ million (which our contributors analyzed in the broader context of ECT modernization) underwent a rectification procedure in 2023 and is currently undergoing…
…industries, an important ICC award reshaped risk allocation in the construction industry. As further explained here, the dispute arose out of the expansion and modernization of a refinery in Colombia…
…experience as one of the negotiators in the ECT modernization negotiations, when it comes to investment protection and ISDS, ECT member states were able to achieve an impressive result in…
…was disqualified due to her engagement as counsel in “sheer number of cases” involving overlapping questions of interpretation of the Energy Charter Treaty (ECT) notwithstanding the fact that she was…
…provide a brief overview, in 2014, an arbitral tribunal seated in The Hague found that Russia had unlawfully expropriated Yukos’ assets in breach of the Energy Charter Treaty (“ECT“) and…
…the Energy Charter Treaty (“ECT”) complicates the landscape even further. Questions were raised around how the arbitration community should deal with the risk of disappearance of intra-EU investment arbitration and…
…from Global Justice Now) In 2023, several EU members left the ECT, the largest investment arbitration treaty, after accusations that companies “weaponise” this “climate-wrecking,” “climate-killing” “obscure energy treaty”…
…“upstream national legal protection” to effectively stop intra-EU ECT ICSID proceedings due to a lack of an effective arbitration agreement, recognition and enforcement of intra-EU IIA/ECT awards will increasingly be…
…arbitral tribunal clarified (para. 363) that: The ECT did not bar Spain from making appropriate changes to the regulatory regime . . .. Thus, the Tribunal does not accept Claimants’…
…states, the Energy Charter Treaty (ECT) as well as the EU’s new generation trade and investment treaties such as the EU-Canada Comprehensive Economic and Trade Agreement (CETA). In addition, the…
…and modernization of a refinery in Colombia. Reficar selected CB&I as the contractor responsible for the engineering, procurement and construction (“EPC”) of the refinery. The project was originally conceived as…
…litigations (Justizstandort-Stärkungsgesetz) and the BMJ’s white paper on the modernization of German arbitration law, as well as two recent decisions by German courts that might bring arbitration closer to litigation….
…and reform proposals in other countries (see e.g., the White Paper on the Modernization of German Arbitration Law) concerning an explicit provision that allows virtual and hybrid hearings. It therefore…
…It arises out of the Luxembourgish and Dutch claimants’ successful ICSID arbitration against Spain under the Energy Charter Treaty (“ECT”), in which the tribunal held that Spain had violated the…
…more than 6 months after the Commission-sponsored ECT modernization package failed to be adopted and perhaps undermines any hope that a modernized ECT will be agreed any time soon. However,…
The German Federal Ministry of Justice published a White Paper on the Modernization of German Arbitration Law (unofficially translated by the DIS) on 18 April 2023. Its primary goal is…
…administration, the US, Canada and Mexico embarked on a renegotiation and modernization process to develop what was then-dubbed “NAFTA 2.0.” In October 2018, negotiations concluded and a signing ceremony for…
Several EU member states have abandoned the modernization of the ECT and expressed their intention to withdraw from the ECT (see here). In February 2023, a Commission non-paper was leaked,…
…the European Parliament’s instruction to coordinate a withdrawal from the ECT. Mehranvar pointed out that the ECT modernization process was not transparent, with leaked documents and speculation being the main…
