Ratification of Termination Agreement by Germany is irrelevant to termination of Netherlands-Slovakia BIT, retroactivity of Achmea Judgment, and impact of Termination Agreement on Achmea’s award

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Achmea challenges German Parliament’s decision to ratify EU Termination Agreement

Achmea Judgment did not affect Achmea’s constitutionally enshrined fundamental rights

Achmea Judgment is not “methodologically untenable” and does not entail a structural change in the respective competences of the EU and its member states

CJEU’s interpretation of EU law can only be questioned by EU member states if it implies an ultra vires act

Achmea fails to sufficiently substantiate a recognized legal interest in the action, since it does not properly address the impact of the Termination Agreement

Achmea cannot challenge BGH decision that declined to review its set-aside application

Achmea asks for constitutional review of BGH’s decision to set aside BIT award

Dutch government says treaty continues to apply and tribunal has jurisdiction

EC argued that EC treaties supersede BIT protections

Slovak Republic raises objections to tribunal’s jurisdiction

Background to Eureko’s claims

Majority finds that structure does not meet its understanding of “directly”

All three arbitrators agree that MFN clause is of no use to HICEE

Will the Netherlands move to express a view on treaty formulation?

Outcome may cast shadow over similarly worded Dutch BITs

EU law is relevant to determine whether an arbitration agreement existed between the parties

Court follows CJEU to hold that investor-State dispute settlement under BIT is in contradiction with EU law

German court finds that Slovakia’s offer to arbitrate was inapplicable, and could not give rise to an arbitration agreement

Court rejects Achmea’s arguments for upholding the award

Slovakia did not violate its good faith obligation under German law

BGH rejects request to challenge constitutionality of CJEU decision

BGH sets aside Achmea award and orders investor to bear costs

Achmea was not denied effective legal protection, since Slovak courts can stil address substantive claims

Court is unmoved by arguments for set aside

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