om e ast to we st idge s fr L e gal Pr ote c tion in tr - PowerPoint PPT Presentation

T HE E U-E URASIA-CHINA BUSINE SS SUMMIT by the c onomist and the Gr E e e k E ur asian Busine ss Counc il “ Building br om e ast to we st ” idge s fr L e gal Pr ote c tion in tr ansnational inve stme nts unde r the E ne r gy Char te r T r e aty Ass. Profe ssor Dr. Antonis Me taxas (PhD, F U Be rlin) Managing Partne r, Chair of E urope an L aw, Unive rsity of Athe ns

Outline  E ne rg y I nve stme nts: the ne e d fo r a sui g e ne ris pro te c tio n  T he E ne rg y Cha rte r T re a ty (E CT )  I nve stme nt Pro te c tio n unde r the E CT  Dispute Re so lutio n unde r the E CT

E ne rg y I nve stme nts: T he ne e d fo r a sui g e ne ris pro te c tio n  I nhe re nt c ha ra c te ristic s o f e ne rg y industry xpe nsive infra struc ture  c a pita l inte nsity  E  Hig hly po litic a l issue s  Ma tte rs o f na tio na l so ve re ig nty  T ra nsna tio na l c ha ra c te r o f the inve stme nts  Unsta b le do me stic le g a l re g ime

E ne rg y Cha rte r T re a ty - Ge ne ra l  Only ma jo r multila te ra l tre a ty in the e ne rg y fie ld  L a rg e st g e o g ra phic a l a nd c o untry c o ve ra g e  Purpo se : Pro mo tio n o f lo ng -te rm c o o pe ra tio n in the e ne rg y fie ld, b a se d o n c o mple me nta ritie s a nd mutua l b e ne fits (Art 2 E CT )

E ne rg y Cha rte r T re a ty – Sig na to rie s

E ne rg y Cha rte r T re a ty - I nve stme nt Pro te c tio n Pro visio ns (Art 10 E CT )  Po st inve stme nt pro te c tio n o f inve stme nts  ‘ asse ts asso c iate d with an e c o no mic ac tivity in the e ne rg y se c to r (Art 1 E CT ) fo r the pro te c tio n o f fo re ig n  Ge ne r al Pr inc iple s e ne rg y inve stme nts (Art 10 E CT ):  F AI R AND E QUI T ABL E T RE AT ME NT  MOSTCONST ANTPROT E CT I ON AND SE CURI T Y  PROHI BI T I ON OFUNRE ASONABL E OR DI SCRI MI NAT ORY ME ASURE S  PACT A SUNTSE RVANDA  MOSTF AVOURE D NAT I ON T RE AT ME NT(MF N)

E ne rg y Cha rte r T re a ty – Dispute Re so lutio n (Art 26 pa ra 2 E CT ) Inte r na tiona l Ce ntre for Se ttle me nt of Inve stme nt Dispute s 1. (pro vide d tha t b o th pa rtie s a re sig na to rie s to the (ICSID) Wa shing to n Co nve ntio n) (if o ne pa rty is a sig na to ry to the ICSID Additiona l F a c ility 2. Wa shing to n Co nve ntio n, b ut the o the r pa rty is no t) Ad hoc UNCIT RAL 3. Arbitra tion a dministe re d by the Stoc kholm Cha mbe r of 4. Comme rc e * T he vast majo rity o f the c ase s have b e e n sub mitte d to I CSI D arb itratio n.

T HANK YOU