Tracy Forster’s Post

The English Court of Appeal has clarified the position regarding the interaction between the UK’s State Immunity Act 1978 and the Arbitration (International Investment Disputes) Act 1966. The judgment provides clarity to investors with ICSID awards that they can safely seek registration (and enforcement) of their awards in the UK. Critically, this decision also brings the UK back into line with international practice on this issue. Read more. https://gag.gl/y1nQQF

The English Court of Appeal has clarified the position regarding the interaction between the UK’s State Immunity Act 1978 and the Arbitration (International Investment Disputes) Act 1966. The judgment provides clarity to investors with ICSID awards that they can safely seek registration (and enforcement) of their awards in the UK. Critically, this decision also brings the UK back into line with international practice on this issue. Read more. https://gag.gl/y1nQQF

In their piece, Gerard J. Meijer, Piotr Wilinski, and Thomas de Boer have provided an overview of the ongoing legal battle involving Spain and intra-EU investment awards enforcement. The authors delve into a case before the District Court of Amsterdam where Spain, in its strategic legal maneuvers, argued that its obligations under an investment treaty award constitute unlawful state aid under EU law. This argument is pivotal as it challenges the #enforcement of the award within the EU, pushing the boundaries of the New York Convention and the Brussels I bis Regulation. The Amsterdam Court's interim judgment sided with Spain, granting itself jurisdiction and setting the stage for a complex interaction between EU state aid rules and international arbitration norms. This case exemplifies the intricate dance between national courts and international obligations, particularly in the realm of intra-EU investment disputes post-#Achmea. The outcome could significantly influence the enforcement landscape of #internationalarbitration awards within the EU, highlighting the tension between EU law and international treaty obligations. #investmentlaw #investmentarbitration #disputeresolution

International arbitration Partner Neil Newing and Senior Associate Pietro Grassi examine the Court of Appeal’s recent ruling rejecting claims for immunity from the English courts’ jurisdiction by Spain and Zimbabwe in relation to two separate investment treaty (ICSID) arbitrations, in New Law Journal. In the combined cases of Infrastructure Services Luxembourg Sarl v Spain/ Border Timbers Limited v Zimbabwe [2024] EWCA Civ 1527, the Court of Appeal heard two cases involving challenges by the defendant States to the registration in the English Courts of awards rendered against them in ICSID arbitrations. The challenges were brought on the basis of state immunity, but the Court held that, pursuant to the 1965 Convention on the Settlement of Investment Disputes between States and National of Other States, they had waived their immunity. Read Neil and Pietro's article here: https://lnkd.in/eSiP4yXE

In his recent piece, Prof. Dr. Nikos Lavranos provides an overview of the 2024 Report on compliance with investment treaty awards by States. Nikos dives into the complexities of State compliance with Investor-State Dispute Settlement (#ISDS) awards, especially in light of recent #EU developments. The 2024 Report highlights a rise in ISDS disputes and reveals that States often prevail more than investors, contrary to popular belief. However, unpaid awards and compensation amounts have increased, with Spain leading in non-compliance. The Report also notes divergent #enforcement trends within and outside the EU, with countries like Australia, the UK, and the US emerging as favorable jurisdictions for enforcing intra-EU awards. #internationallaw #internationalarbitration #disputeresolution #investmentarbitration

Why are joint interpretations of #investment treaties more complex than we often assume? Let's discuss this in the upcoming days in Athens! As I landed in Athens for the International Law Association biannual conference, I was thrilled to receive the news that the latest Columbia Center on Sustainable Investment 'FDI Perspectives' is out! This edition features our joint work led by Charles-Emmanuel Côté in collaboration with Shotaro Hamamoto and Xu QIAN, focusing on specific rules for joint interpretations under #InternationalInvestmentLaw. This is just a preview of our upcoming Academic Forum on ISDS paper for the UNCITRAL: United Nations Commission on International Trade Law negotiations on #InvestmentArbitration reform. Stay tuned for the full paper! In the meantime, if you’d like to learn more about it or talk about #InternationalArbitration and happen to be in Athens, let me know. Χαίρομαι να συναντηθούμε! There's never too much Greek coffee:)

🇭🇺 #Hungary is making headlines! ✨ In response to the Declaration by 26 EU Member States and the EU aiming to render the #ECT inapplicable in intra-EU disputes retroactively, Hungary has issued a separate Declaration. Hungary emphasizes that EU Member States must respect public international law, and asserts that the disapplication of the ECT in intra-EU disputes can only be achieved in line with the #VCLT. Kudos to Szabolcs Nagy, Trade and Investment diplomat at the Permanent Representation of Hungary to the EU, for this achievement. Read the analysis of this development on #GlobalArbitrationReview and #KluwerArbitrationBlog. A big thank you to GAR and KAB for shedding light on this important development, which holds significant implications for Hungary, the ECT, and the intricate interplay between EU law and public international law. #InternationalLaw #EULaw #ECT #Hungary #PublicInternationalLaw https://lnkd.in/em-YkuVV

“The Emperor’s New Clothes”: Where Does the New York Convention End and the Brussels I bis Regulation Begin? Gerard J. Meijer, Piotr Wilinski and I have written a short piece for the Kluwer Arbitration Blog on an important victory for the Kingdom of Spain before the District Court of Amsterdam that showcases that the turbulent times in the realm of intra-EU investment arbitration are far from over. In these proceedings, Spain seeks declaratory relief in support of its assertion that the intra-EU award constitutes state aid, which would justify it not adhering to its obligations thereunder. Spain had one obstacle to clear, however: the Court needed to assume jurisdiction. The investors argued that Spain's claims in reality related to the validity/enforcement of the award, which should by governed by the New York Convention, leaving the Dutch Court without jurisdiction. Spain argued that its claims were grounded on EU law, and that on the basis of the Brussels I bis Regulation, the Dutch Court had jurisdiction. In a judgment that may disrupt the equilibrium between the New York Convention and the Brussels I bis regime, the Court followed Spain's argument. You can read our blogpost via the link below.

Noah A. Barr has provided an overview of the alignment of Member States' treaty practices with the #EU model of international investment protection. 🕰 More than a decade since the EU assumed responsibility for foreign direct investment, a significant overhaul has been initiated to address the criticism of investor-state arbitration and to transition from Member State bilateral investment treaties (#BITs) to an EU-centric model. 📑 Despite the EU's reformed approach not yet being widely enacted, Barr's analysis suggests domestic reforms could pave the way for consistent EU-wide investment protection. The article scrutinises the extent to which recent treaty reforms by Member States reflect the EU's model, highlighting congruence in substantive protections and innovative strides in #disputeresolution and non-economic clauses. Are you interested in the intersection of EU policy and international investment law? Find out more in 𝘈𝘳𝘣𝘪𝘵𝘳𝘢𝘵𝘪𝘰𝘯: 𝘛𝘩𝘦 𝘐𝘯𝘵𝘦𝘳𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘑𝘰𝘶𝘳𝘯𝘢𝘭 𝘰𝘧 𝘈𝘳𝘣𝘪𝘵𝘳𝘢𝘵𝘪𝘰𝘯, 𝘔𝘦𝘥𝘪𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘋𝘪𝘴𝘱𝘶𝘵𝘦 𝘔𝘢𝘯𝘢𝘨𝘦𝘮𝘦𝘯𝘵! 💡

Government Seizure: What to do?#ForeignInvestmentBreaches #GovernmentSeizures #ISDSProtocols #InvestmentDisputes #InternationalArbitration #RiskMitigation #LegalDisputes #InvestmentTreaty #ArbitrationProtocol #GovernmentRelations #InternationalInvestmentLaws #ForeignDirectInvestment #TradeAgreements #FreeTradeAgreements #PolicyChanges #EconomicImplications #InternationalAgreements #InvestmentProtection #FossilFuelInvestments #EnvironmentalPolicy #ArbitrationTribunal #ICSID #ArbitrationProcess #ConsultationProtocol #RestitutionDamages #GovernmentIntervention #LegalContext #InvestorProtection #ClimateChangeMitigation #InvestmentClaims #DisputeResolution #TradeNorms