Naslov
BIT(s) and But(s) in Central and Eastern Europe: Croatian Perspective

Autori
Mišćenić, Emilia

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, pp prezentacija, znanstveni

Skup
4th Annual CEENELS Conference: Legal Innovativeness in Central and Eastern Europe

Mjesto i datum
Moskva, Ruska Federacija, 14.06.2019. - 15.06.2019

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Bilateral investment treaties, International Centre for Settlement of Investment Disputes (ICSID)

Sažetak
This paper analyses the position of international bilateral investment treaties, the so-called BITs, in Central and Eastern Europe. The author focuses on the BITs signed by the Republic of Croatia before the country became a European Union Member State. By using as an example the BIT signed between the Republic of Austria (RA) and the Republic of Croatia (RC) in 1997, the author explains the role of the International Centre for Settlement of Investment Disputes (ICSID) and the interaction between the BITs and the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention). The author also explains the mechanism for investment dispute settlement before the ICSID Centre and the role that the safeguard clause from the RC-RA BIT Agreement plays here. The paper also demonstrates the position and the current state of BITs in the European Union by analysing the CJEU case law from Micula to the famous Achmea case. Finally, the author reflects on the reaction of the European Commission to ICSID rulings and discusses the possible effects of the Declaration signed by the Member States on 15th January 2019 on the fate of BITs and investment dispute settlement. With this recent Declaration, the representatives of the governments of the Member States of the European Union obliged themselves to „inform investment arbitration tribunals about the legal consequences of the Achmea judgment“, and to „set these awards aside or not to enforce them due to a lack of valid consent“. Not only should the undertakings controlled by the Member States’ governments „withdraw pending investment arbitration cases“, but also “Member States will make best efforts to deposit their instruments of ratification, approval or acceptance of that plurilateral treaty or of any bilateral treaty terminating bilateral investment treaties between Member States no later than 6 December 2019“.

Izvorni jezik
Engleski

Znanstvena područja
Pravo

POVEZANOST RADA