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Wind farm owner sues Romania at WB’s arbitrage court
Cyprus-based offshore EP Wind Project (Rom) Six Ltd claims that Romania has breached the Energy Charter Treaty.
Client alert: What are the implications of the COVID-19 pandemic for States and investors under the Energy Charter Treaty
The COVID-19 pandemic has led States to adopt various public health measures that adversely affect foreign investors and exacerbate broader economic issues. In this climate, there is significant potential for disputes under the ECT.
Coal generator uses investment treaty to fight Netherlands coal phaseout
Uniper is using a controversial investor dispute system to claim up to €1 billion compensation for being forced to close a coal power station early.
Yukos shareholders seize Russian vodka assets in the Netherlands
Shareholders in the now defunct Russian oil giant Yukos have seized Netherlands-based assets of two well-known vodka brands controlled by the Russian state in their most recent legal move to obtain $57 billion in damages from Moscow.
Russia appeals decision of Hague Court of Appeal on Yukos
On February 18, The Hague Court of Appeal reinstated an order of the Permanent Court of Arbitration, which obliged Russia to pay more than $50 bln to the companies associated with former Yukos shareholders in 2014.
The unknown climate-killer deal we’ll have to tackle next
The Energy Charter Treaty takes an axe to climate action.
The termination of bilateral investment treaties in the EU – one agreement to end them all?
On 5 May 2020, 23 Member States of the EU entered into an Agreement for the Termination of Bilateral Investment Treaties between the Member States of the European Union.
Modernisation of the Energy Charter Treaty
A global tragedy at a high cost for taxpayers.
EU plans to reform Energy Charter Treaty falling short, activists say
An updated European Commission proposal to reform the Energy Charter Treaty is falling short of what’s needed to reinstate governments’ “right to regulate” in areas like climate change, activists say.
CJEU to seal the fate of US$50 Million ECT award against Moldova?
The Paris Court of Appeal has recently sought a preliminary ruling from the Court of Justice of the European Union on the interpretation of the Energy Charter Treaty in the ongoing Republic of Moldova v. Komstroy case.
Despite controversy, the Energy Charter Treaty is silently being pushed into Africa
Joining the Energy Charter Treaty could cost developing countries money that is urgently needed to fight the COVID-19 pandemic and economic crisis.
Lotus Holding Anonim Sirketi v. Turkmenistan
The tribunal dismissed all claims against Turkmenistan brought by a Turkish investor, Lotus Holding Anonim Sirketi, under the Energy Charter Treaty and the Turkey-Turkmenistan bilateral investment treaty.
Silent expansion
Many countries, particularly in the global south, are in the process of joining the Energy Charter Treaty despite the sweeping powers it grants to foreign investors.
In a new ICSID award, Spain’s reforms of the renewable energy sector are found not to violate the ECT
The claimants initiated ICSID arbitration against Spain, claiming breaches of the Energy Charter Treaty, including the fair and equitable treatment, umbrella and non-impairment clauses.
Risky business: Uniper’s potential investor-state dispute against the Dutch coal ban
While policies aiming to phase out coal are necessary to tackle climate change, they may give rise to legal claims from companies whose investments are adversely affected by the low-carbon energy transition.
The Energy Charter Treaty threatens the European Green Deal, NGOs denounce
Civil society activists and scientific experts denounce the unsustainable practice of investment disputes under the Energy Charter Treaty.
Provisional application of the Energy Charter Treaty: Article 45(1) “Limitation Clause”
When it issued three interim awards for Yukos, the arbitral tribunal noted that the principle of provisional application of treaties was recognized under Russian law.
Court reinstates order for Russia to pay $50 bln over Yukos
A Dutch appeals court reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.
Vattenfall procedure has cost almost 20 million euros
The energy company Vattenfall is demanding compensation from the Federal Republic of Germany. The costs for the arbitration proceedings could exceed 20 million euros this year.