Topic: Achmea

A Bulgarian insurance investor has made good on its threat to file a €500 million ICSID claim against Romania – a case that will test whether sunset clauses in terminated intra-EU investment treaties are still effective. 

22 May 2024

UPDATED WITH JUDGMENT: A German court has refused to order energy group RWE to halt its efforts to enforce a €28 million ICSID award against Spain, weeks after the award was upheld by an annulment committee. 

25 April 2024

The Svea Court of Appeal has set aside a European renewables investor’s Energy Charter Treaty award against Spain for being incompatible with EU law – a week after the state failed to have another such award annulled at ICSID.

11 April 2024

The US Department of Justice has weighed into a DC Circuit appeal over the enforcement of three Energy Charter Treaty awards against Spain, arguing that the existence of an arbitration agreement is a threshold question and that it was “improper” for a judge to issue anti-suit injunctions against the respondent state.

06 February 2024

A judge in London has adjourned Spain’s bid to undo the registration of a €33 million ICSID award in favour of two solar investors on sovereign immunity grounds until an appeal in a similar case is decided.

31 January 2024

The Svea Court of Appeal has annulled an SCC award that ordered European investors to pay costs to Poland following an unsuccessful Energy Charter Treaty claim, finding the award was invalidated by the European Court of Justice’s ruling in Komstroy.

12 January 2024

The German Supreme Court has partially enforced a US$140 million award won by Deutsche Telekom against India – rejecting the state’s arguments that the Achmea ruling extends to arbitration agreements in treaties made between EU member states and third countries.  

09 January 2024

Gibson Dunn partner Robert Spano has argued that a refusal by an EU member state court to recognise and enforce an ICSID award on the basis of the Achmea decision may be a violation of the European Convention on Human Rights. Theo Tyrrell and Nika Madyoon of Gibson Dunn report.

24 November 2023

An ICSID tribunal has declined to throw out a claim brought by Dutch investors against Croatia, rejecting the state’s arguments that its bilateral investment treaty with the Netherlands was effectively terminated under EU law. 

09 November 2023

German energy company RWE is withdrawing its Energy Charter Treaty claim against the Netherlands over coal phase-out legislation – months after a German court ruled it was inadmissible.

03 November 2023