A New Approach to Intra-EU ISDS
…for BITs, i.e., submissions made in different courts to enforce the Micula award. In short, all the analysis is based on the Law of Treaties with constant references to the…
Search Results for: micula
Achmea, CJEU, European Law, International Investment Arbitration, International Law, Intra-EU BITs, Investment, Investment agreements, Investment Arbitration, Investment law, Investment protection, Investment Treaties, ISDS
Topical Issues in ISDS: Review of Recent Developments in the European Union
…investment law. Marc Bungenberg further remarked that the Micula case was already paradigmatic of a shock of cultures between EU law and international investment law. The material standards of protection…
Challenges in Front of the Successful Evolution of the FDI Protection Regime: EFILA Annual Conference
…Sweden refused to enforce the ICSID Award in the Micula v. Romania. This is one of the most interesting episodes in the long-running saga involving the Micula brothers, Romania, the…
2018 In Review, Achmea, Europe, European Commission, International Investment Arbitration, Intra-EU BITs, Investment, Investment Arbitration, Investment protection, ISDS Reform
2018 In Review: The Achmea Decision and Its Reverberations in the World of Arbitration
…have been foreseen and cracks appeared long ago before Achmea, especially in the context of the Micula case against Romania. So, an Achmea judgment was something inevitable – it had…
Hungary Gives the Green Light for the Conclusion of a Termination Agreement for Intra-EU BITs
On 17 December 2018, the Prime Minister of Hungary issued a decision entitled “Decision authorizing the conclusion of an Agreement to terminate bilateral agreements on encouragement and reciprocal protection of…
The Benefits of a Single-Tier Judicial Court Review of Arbitral Awards
…regarding the award in the first Micula case was rejected. The arguments presented in this analysis are most relevant to international commercial arbitration. This type of arbitration involves the possibility…
Brexit, the Energy Charter Treaty and Achmea: An Unexpected Ray of Light?
…Micula and others v Romania and European Commission (Intervener) ([2018] EWCA Civ 1801). In that case, the court considered an appeal of an order staying the enforcement of an ICSID…
Do Party Appointments Encourage Compliance With Awards?
…enforcement resisted on grounds that defendant was not given proper notice of the arbitration proceedings. Defendant did not participate in appointment of the tribunal; Viorel Micula and others v Romania…
Achmea, Arbitration, BIT, European Union, Investment Arbitration, Principle of proportionality, Slovakia
Slovak Republic v. Achmea: A Disproportionate Judgment?
…of the Member States with EU law. In their written observations, several Member States and the Commission have mentioned only a single example, namely the arbitration Ioan Micula and Others…
Slovak Republic v. Achmea: When Politics Came Out to Play
…the arguments of the European Commission against the enforcement of the ICSID award in Ioan Micula, Viorel Micula and others v. Romania, however, courts in EU Member States might not…
Achmea, BIT, ECJ, Europe, European Law, European Union, Intra-EU BITs, Investment agreements, Investment Arbitration, Investment protection, Uncategorized
Brace for Impact? Examining the reach of Achmea v Slovakia
…Law and Liability, 30 November 2012, para 4.122. [3] Ioan Micula, Viorel Micula, S.C. European Food S.A, S.C. Starmill S.R.L. and S.C. Multipack; S.R.L. v. Romania, ICSID Case No. ARB/05/20,…
Appointment of arbitrators, Arbitration, Arbitration Proceedings, CEE, Enforcement, Investment Arbitration
Arbitrating with States in CEE and CIS
…the Practice Note). Parties As with most other regions, the parties involved in investment arbitration in the CEE & CIS regions are diverse, ranging from individuals (the Micula brothers) to…
The CJEU’s Achmea Judgment: Getting Through the Five Stages of Grief
…6.70, Micula v Romania Award, para 691-707, 741-742, 792-793; Wirtgen v Czech Republic Award, paras 297-299, 337-342, 350; Postova Banka v Greece Award, paras 192-193, 207-208. Given the fundamental importance…
What is the Future of Intra-EU BITs?
…their jurisdiction and the application of Intra-EU BITs. The European Commission has also made submissions before ICSID annulment committees and national courts in enforcement proceedings. For instance, in Micula v….
From the Editors of Kluwer Arbitration Blog: 2017
…of the CJEU in the Achmea Case and of the GCEU in the Micula Case, the final report of the ICCA-QMUL Task Force on Third Party Funding in International Arbitration…
Amicus Curiae, Arbitration, Energy Charter Treaty, European Commission, European Law, European Union, Intra-EU BITs
The Future of Intra-EU ECT Claims in the Face of EC Opposition: Boom or Bust?
…basis that it constitutes illegal state-aid, as it is currently doing in the Micula enforcement proceedings. Yet, even if this approach is successful in Micula (which is far from certain),…
Squaring the Circle: Reconciling the Conflicting Awards in the Eiser and Isolux Spanish Renewable Cases (Part I)
In furtherance of European and national policy directives, Spain enacted in the early years of this century a series of decrees to regulate the production of electricity from renewable sources…
BIT, European Commission, European Law, European Union, ICSID Convention, Intra-EU BITs, Investment, Investment agreements, Investment Arbitration, Investment protection, Investor, Poland, Sweden
Green Light for Romania to Terminate its Intra-EU Bilateral Investment Treaties
…in the Micula I case against Romania where the European Commission regarded the damages awarded by the ICSID tribunal as illegal state aid. (For the enforcement of the Micula I…
The End of Intra-EU BITs: Fait Accompli or Another Way Out?
…may not only constitute illegal state aid (in this regard the European Commission invokes Micula v. Romania, ICSID Case No. ARB/14/29). Furthermore, according to the European Commission, such parallel jurisprudence…
Mackenzie-Stuart Lecture 2016: Investment Arbitration and EU Law – Juliane Kokott
…fact precisely the position Romania was found itself in in the Micula case (ICSID Case no. ARB/05/20). How can this conflict be resolved? Intra EU-BITs The main question in this…
The EU Proposal Regarding Investment Protection: The End of Investment Arbitration as We Know It?
…clearly aims at addressing the issue that arose in the Micula arbitration, in which the tribunal found that Romania frustrated the Claimants’ legitimate expectations and violated its fair and equitable…
Europe, European Commission, European Union, ISDS, Transatlantic Trade and Investment Partnership, Uncategorized
Countering Anti-ISDS Propaganda with Facts: An Uphill Battle
…Commission in the Micula case prohibiting Romania to execute an ICSID award is a clear warning signal that EU law apparently supersedes binding international investment law. All this is not…
Upholding Delocalized Enforcement of ICSID Awards
…EU rules prohibiting state aid.1)See also the recent post on the European Commission’s position on the ICSID award in Micula v. Romania One of the Swedish investors petitioned a U.S….
Amicus Curiae, European Commission, European Law, European Union, Fair and Equitable Treatment, ICSID Arbitration, ICSID Convention, Injunction, Investment Arbitration, Review on the merits, Romania, Sweden, Uncategorized
About the Ostrich, the Micula Brothers and other European Fables
…used by the DG Competition Authority (part of the Commission) to investigate the Micula award (ICSID Case No. ARB/05/20). The outcome of the investigation concluded the illegality of the ICSID…