European American Investment Bank (EURAM) v. Slovakia

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Case Details

Year of Filing: 2009

Case Status: Arbitral Phase Concluded

Claimant(s): European American Investment Bank AG (EURAM)

Respondent(s): Slovak Republic

Arbitral Rules: UNCITRAL and/or Ad-Hoc

Legal Instrument: Treaty

Treaty: Austria-Slovakia BIT

Administrative Case Number: PCA Case No. 2010-17

Arbitral Tribunal

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Major Developments

Key Decision:

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Counsel

Counsel for Claimant:

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Counsel for Respondent:

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In hitherto unpublished ruling, Greenwood/Stern tribunal reject plea that intra-EU BIT was implicitly terminated under VCLT due to EU accession Apr 2, 2015

Tribunal’s full reasons – and EC’s amicus brief – on intra-EU BIT compatibility issue finally come to light in EURAM v. Slovakia case Apr 2, 2015

Arbitrators interpret BIT arbitration clause narrowly, and point to Australia as example of state not viewing investor-state arbitration as essential to investment protection Apr 2, 2015

Full reasons emerge for tribunal’s dismissal of BIT arbitration due to investor’s prosecution of a parallel BIT claim in domestic court Apr 2, 2015

Another claim against Slovakia fails, as arbitrators dismiss remainder of EURAM AG’s claims under Austria-Slovakia BIT Jun 5, 2014

UNCITRAL tribunal chaired by Christopher Greenwood declines to let claimant use MFN clause to detour around highly-restrictive arbitration clause Jan 17, 2013

Arbitrator Brigitte Stern survives another bid to disqualify her – this time on grounds of alleged prejudgment of legal issues arising in intra-Europe BIT arbitration May 22, 2012

One challenge to oft-appointed arbitrator Prof. Brigitte Stern is rejected (in Slovak case), but others arise Nov 25, 2010

Third BIT claim arises after health policy reversal; Slovak state rebuffed in proposal to publish earlier award under same treaty Apr 9, 2010