Silver Ridge Power BV v Italian Republic - ICSID Case No. ARB/15/37 - Award and Dissenting Opinion by Arbitrator O. Thomas Johnson - 26 February 2021
Country
Year
2021
Summary
Reproduced from www.worldbank.org/icsid with permission of ICSID. (Document, does not apply to summary and/or TDM IACL Case Report below).
Case Report (free download)
Case Report by Erin Collins, Editor Ignacio Torterola
Summary
Claimant brought an action for relief against Italy pursuant to the Energy Charter Treaty ('ECT') alleging Italy had breached its fair and equitable treatment, expropriation, and its observance-of-obligations or umbrella clause obligation. Respondent raised jurisdictional objections including, inter alia, whether intra-EU arbitration is possible under the ECT. The European Commission ('EC') intervened on Italy's behalf. After rejecting all of Respondent's jurisdictional objections, the Tribunal analysed Claimant's claims and rejected them all.
Main issues
whether "intra-EU" arbitration was permissible under the ECT; and whether Claimant had an enforceable legitimate expectation at the time of their investment such that subsequent changes to the regulatory framework would be a breach of the State's fair and equitable treatment under Article 10(1) of the ECT
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