My colleagues Nick Storrs and Michael Wietzorek look at the EU memberstates’ exit from bi-lateral investment treaties (BITs) in the wake of the Achmea decision of the European Court of Justice. This case had several appearances on this blog, as it made its way from the Frankfurt Court of Appeals (Oberlandesgericht) and the Federal Supreme Court (Bundesgerichtshof) to the European Court of Justice, first under its original name, Slovakia v. Eureko.
On 5 May 2020, 23 Member States of the EU entered into an Agreement for the Termination of Bilateral Investment Treaties between the Member States of the European Union (the Agreement). The Agreement will terminate any bilateral investment treaties (BITs) in force between any of Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, France, Germany, Greece, Hungary, Latvia, Lithuania, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, and Spain, as well as Belgium and Luxembourg, who had entered into BITs together as the Belgo-Luxembourg Economic Union.
