Czech Experience with Investor- State Arbitration and Its Evolving - PowerPoint PPT Presentation

Sep 15, 2022 •422 likes •523 views

Ministry of Finance CZECH REPUBLIC Czech Experience with Investor- State Arbitration and Its Evolving Investment Treaty Policy Elika Nmeck April 2014 International Investment Law and Foreign Claims Department Ministry of Finance

Ministry of Finance CZECH REPUBLIC Czech Experience with Investor- State Arbitration and Its Evolving Investment Treaty Policy Eliška Německá April 2014 International Investment Law and Foreign Claims Department Ministry of Finance Ministry of Finance of the Czech Republic , Letenská 15, 118 10 Praha 1, +420 257 041 111
Ministry of Finance CZECH REPUBLIC 2 General information • Over 90 bilateral investment agreements in force • 23 amending protocols • 1 multilateral agreement (Energy Charter Treaty) • More than 27 investment disputes 11.4.2014
Ministry of Finance CZECH REPUBLIC 3 BITs in 1990s • First BIT signed in 1989 with Belgium – Luxembourg Economic Union • BITs concluded primarily with developed countries • Main aim to attract foreign investors 11.4.2014
Ministry of Finance CZECH REPUBLIC 4 Investment arbitrations • First investment arbitration initiated in 1999 • Mainly under BITs concluded in 1990s • The most frequent BITs - BITs with EU countries 11.4.2014
Ministry of Finance CZECH REPUBLIC 5 Current negotiations of BITs • New BITs • Concluded with developing countries to protect Czech investors • More than 30 ongoing and over 10 new negotiations • Renegotiation of existing BITs • Inconsistency with EU law • 31 BITs to be renegotiated 11.4.2014
Ministry of Finance CZECH REPUBLIC 6 New Czech model BIT • Precise definition of investment • The criteria of the Salini test • Every kind of asset invested directly • Precise definition of investor • Dual citizenship (Natural Person) • Substantive business operations of company (Juridical Person) 11.4.2014
Ministry of Finance CZECH REPUBLIC 7 New Czech model BIT • Denial of Benefits • Investors who has not owned or controlled the investment at the time of the alleged breach of an obligation under BIT • Right to regulate • Measures necessary to pursue legitimate public policy objectives, such as social, environmental, security, cultural diversity, public health and safety • Expropriation • Definition of indirect expropriation 11.4.2014
Ministry of Finance CZECH REPUBLIC 8 New Czech model BIT • Transfers • Restriction of transfers in case of a balance-of-payments difficulty • Investor-State Dispute Settlement • Time limits • Rules on cost allocation • Normative sources which the tribunal shall apply • Rules on third party funding • Costs deposit 11.4.2014
Ministry of Finance CZECH REPUBLIC 9 Thank you for your attention! Eliska.Nemecka@mfcr.cz 11.4.2014

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