DEAD OR ALIVE? THE FOREIGN INVESTMENT PROTECTION IN THE EU AFTER THE EXPIRY OF THE INTRA-EU BITS

After the Court of Justice of the European Union (CJEU) landmark decisions in Achmea, Komstroy, Republiek Polen3 and, more importantly, the termination of almost all Intra EU Bilateral Investment Treaties (BITs) through May 5, 2020, Termination Agreement (TA),4 we are inclined to believe that with these radical steps, the EU indeed brought an era to its end. Nonetheless, the article argues that by leaving the EU, investors were left without other protections than the one granted by EU law. Thus, the EU organs produced other problems that will have to be resolved sooner or later. However, the willingness of the EU organs to address the concerns is not certain at the present moment. Despite these uncertainties, we are convinced that the current status quo is untenable. In conclusion, we reassume our findings and restate our argument on a European Investment Court as an improvement or even the best solution to existing or emerging problems in the foreseeable future. At the same time, we concede that such an institution (having all characteristics of a Permanent Court) also has drawbacks. Of course, the ultimate model or set of solutions adopted at the EU level will remain to be seen.