The European Union’s stance towards intra-EU investment arbitration in the wake of the ECJ Achmea decision (C-284/16), has brought about the end of bilateral investment treaties. European investors are thus now required to decipher EU legislation in order to invoke standards of protection formerly contained in the soon-to-be defunct treaties.From a procedural point of view, and in light of the multiple recent decisions rejecting the jurisdiction of arbitral tribunals based on intra-EU investment treaties, the end of intra-EU investment arbitration is causing investors to find alternative remedies. We have identified three available legal actions – Francovich claims, preliminary rulings, and infringement proceedings –, but we anticipate that the task will be uphill for investors seeking compensation.
You can read the analysis by Partner Flore Poloni and Associate Kimberley Bazelais published by Le Monde du Droit here.