Hardback
Protection of Foreign Investments in an Intra-EU Context
Not One BIT?
9781800880375 Edward Elgar Publishing
The Achmea judgment revolutionised intra-EU investment protection by declaring intra-EU bilateral investment treaties (intra-EU BITs) incompatible with EU law. This incisive book investigates whether intra-EU foreign investments benefit from this alteration, which discontinued the parallel applicability of intra-EU BITs and EU law in the EU internal market. In addition to comparative legal analysis from an investor perspective, Dominik Moskvan puts forward a proposal for a creation of a permanent intra-EU foreign investment court to ensure a balanced economic development of the EU internal market.
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Critical Acclaim
Contents
More Information
The Achmea judgment revolutionised intra-EU investment protection by declaring intra-EU bilateral investment treaties (intra-EU BITs) incompatible with EU law. This incisive book investigates whether intra-EU foreign investments benefit from this alteration, which discontinued the parallel applicability of intra-EU BITs and EU law in the EU internal market.
Analysing the level of protection offered to four identified types of investments, Dominik Moskvan argues that certain investors will find more favourable substantive protection under the framework of EU law as opposed to intra-EU BITs. However, he also highlights the loss of investment safeguards significant to more complex investments when relying exclusively on EU law. Furthermore, since the analysis reveals important differences in the approaches of EU Member States’ judiciaries, the book proposes the creation of a permanent intra-EU foreign investment court to ensure a balanced economic development of the EU internal market.
This book’s discussion of the impact of the EU legal framework on investors'' decisions will be beneficial for both EU and national policymakers when challenged with forming recommendations aimed at improving intra-EU investment policy. The comparative legal analysis from an investor perspective will also be of interest to scholars in EU and international investment law, as well as to lawyers advising foreign investors.
Analysing the level of protection offered to four identified types of investments, Dominik Moskvan argues that certain investors will find more favourable substantive protection under the framework of EU law as opposed to intra-EU BITs. However, he also highlights the loss of investment safeguards significant to more complex investments when relying exclusively on EU law. Furthermore, since the analysis reveals important differences in the approaches of EU Member States’ judiciaries, the book proposes the creation of a permanent intra-EU foreign investment court to ensure a balanced economic development of the EU internal market.
This book’s discussion of the impact of the EU legal framework on investors'' decisions will be beneficial for both EU and national policymakers when challenged with forming recommendations aimed at improving intra-EU investment policy. The comparative legal analysis from an investor perspective will also be of interest to scholars in EU and international investment law, as well as to lawyers advising foreign investors.
Critical Acclaim
‘Dominik Moskvan has written a timely and highly informative book on one of the most fascinating topics of today for anyone interested in multilayered governance and the future of international investment law, in particular ISDS!’
– Andreas Ziegler, University of Lausanne, Switzerland
‘This excellent book offers a comprehensive analysis of the ramifications of intra-EU bilateral investment treaties with EU Law. It makes the case that these regulatory adjustments can give rise to unintended consequences for both investors and Member States. As such, it goes beyond the geographical sphere of the EU and serves as a cautionary tale for other countries in the world that are in the process of reimagining their engagement with international investment law.’
– Fabio Morosini, Federal University of Rio Grande do Sul School of Law, Brazil
‘This book offers a novel lens to look at intra-EU investment treaties, by examining the added value that intra-EU investment treaties bring to EU investors. By reviewing and assessing if, how and why different substantive and procedural protections offered under BITs matter for different types of EU investors, this book reaches balanced and well supported conclusions on the need for intra-EU investment protection, based on a detailed account of the law and policy in the field.’
– Angelos Dimopoulos, Queen Mary University of London, UK
– Andreas Ziegler, University of Lausanne, Switzerland
‘This excellent book offers a comprehensive analysis of the ramifications of intra-EU bilateral investment treaties with EU Law. It makes the case that these regulatory adjustments can give rise to unintended consequences for both investors and Member States. As such, it goes beyond the geographical sphere of the EU and serves as a cautionary tale for other countries in the world that are in the process of reimagining their engagement with international investment law.’
– Fabio Morosini, Federal University of Rio Grande do Sul School of Law, Brazil
‘This book offers a novel lens to look at intra-EU investment treaties, by examining the added value that intra-EU investment treaties bring to EU investors. By reviewing and assessing if, how and why different substantive and procedural protections offered under BITs matter for different types of EU investors, this book reaches balanced and well supported conclusions on the need for intra-EU investment protection, based on a detailed account of the law and policy in the field.’
– Angelos Dimopoulos, Queen Mary University of London, UK
Contents
Contents: 1. Introduction: Investment Protection in Intra-EU BITs and EU Law 2. Material and Personal Scope of Protection 3. National Treatment and Most-Favoured-Nation Treatment 4. Free Transfer of Funds 5. Fair and Equitable Treatment 6. Expropriation 7. Dispute Settlement 8. Which Investor Benefits Most from Intra-EU Protection in the Post-Achmea Context? 9. EU Foreign Investment Court: A Normative Proposal 10. Conclusion: Rethinking Intra-EU Investment Policy Beyond Achmea Bibliography Index
