Introduction

The Lisbon Treaty grants the European Union exclusive competence in matters of direct foreign investment. In accordance with the main principles of EU law, the bilateral investment agreements of the Member States providing protection to the third country investors will have to be terminated and replaced by EU wide agreements. While the necessary regulations on transitional arrangements are being drafted and the bilateral agreements remain in force, the question of the right respondent for the investment claims under these agreements needs to be answered in due time. This article looks ...