The English Court of Appeal has rejected Spain’s and Zimbabwe’s appeals against orders registering arbitration awards made against them pursuant to the Convention on the Settlement of Investment Disputes between States and...more
On 23 July 2024, a distinguished international arbitral tribunal issued a significant decision on provisional measures in Klesch Group and Raffinerie Heide v. Germany (ICSID Case No. ARB/23/49). The three arbitrators – Mr....more
Two ICSID tribunals have recently upheld Spain’s intra-European Union (EU) jurisdictional objections in two arbitrations pursuant to the Energy Charter Treaty (“ECT”). Both cases arise out of Spain’s decision to modify its...more
The Energy Charter Treaty and the Protocol were signed in December 1994 to promote international investment in the energy sector. On 16 April 2024, Spain gave written notice of its decision to withdraw from the ECT and on 14...more
The tribunal in Green Power v. Kingdom of Spain declined jurisdiction, finding that the parties had not validly consented to arbitration under the Energy Charter Treaty. A tribunal seated in Sweden has become the first...more
The last few weeks have seen a raft of new investor-state arbitrations under the Energy Charter Treaty (ECT), including the first known investor-state claim against the European Union (EU) itself. These claims largely arise...more
International investment arbitration – also known as investment treaty arbitration or investor-State arbitration – is a procedure whereby foreign investors may seek a binding adjudication of claims against host States that...more
In recent years, project developers, investment funds, and energy companies have invested heavily in renewable energy as a result of incentive programs offered in the legislation of countries such as Germany, Spain, and...more