La sentencia del TJUE en el asunto Achmea: el adiós al arbitraje de inversiones de los APPRI intra-UE en la Unión Europea (y algo más)

Résumé

The ruling of the CJEU in the Achmea case will be a milestone in the history of investment arbitration in the EU. The Court of Justice, contrary to the position adopted by the advocate general, has declared that articles 344 TFEU and 267 TFEU are opposed to the investor-State arbitration provided for in an intra-EU BIT. The reasoning of the CJEU has lights and shadows, but it is consistent with its traditional position of reticence maintained vis-à-vis external courts out side the EU jurisdictional system. The decision opens a new time where logic seems to impose the termination of intra-EU BITs still in force. However, taking into account the arguments used by the Court of Justice, the consequences of Achmea can go far beyond the intra-EU BITs. The arbitration of the Energy Charter Treaty, the investment arbitration of the extra-EU BIT and, perhaps, the new ISDS of future EU trade and investment agreements, may come to feel, with greater or lesser intensity, the Achmea effect