Arnold & Porter Secures Four New International Arbitration Victories for the Czech Republic
Four arbitral awards favorable to Arnold & Porter's client the Czech Republic were issued on May 15, 2019 in investment treaty arbitrations relating to investments in the Czech solar power sector, in which the claimants were WA Investments-Europa Nova Ltd (Cyprus), I.C.W. Europe Investments Ltd (UK), Voltaic Network GmbH (Germany), and Photovoltaik Knopf Betriebs-GmbH (Germany), respectively. The claims in the four cases were asserted under the Energy Charter Treaty, as well as under the Czech bilateral investment treaties with Cyprus, the UK, and Germany, respectively.
The arbitral tribunal dismissed all of the claims against the Czech Republic (some on the merits and others on jurisdictional grounds), and ordered the claimants to reimburse the Czech Republic for a portion of its arbitration costs.
As a result of these new victories, Arnold & Porter has extended to 33 its 15-year-long streak of consecutive positive results on behalf of sovereign States in final awards or decisions in investment arbitrations.