Over the past year, the European Commission (the Commission) has continued to take an interest in the relationship between bilateral investment treaties (BITs) and European Union (EU) law. During that time, there have been at least three notable developments. First, the European Court of Justice issued a judgment regarding the consistency of certain provisions in BITs entered into by Austria and Sweden with provisions of EU law. Second, the Commission has continued to take the position that intra-European BITs are unnecessary because of the protections embodied in the EC Treaty, a position that a number of member states have pushed back against. And finally, the Commission has submitted written comments in at least two investor-state arbitrations.
An extract from The 2010 European & Middle Eastern Arbitration Review - a Global Arbitration Review special report - www.GlobalArbitrationReview.com