Investment arbitration in Spain in light of recent jurisprudence from the European Union Court of Justice

Abstract

This past March, the European Union Court of Justice provided a favorable opening for Spain when it held (by its judgement on a request for a preliminary ruling submitted by the German Court of Cassation) that the arbitration clause which had been included in the “Treaty on the Reciprocal Promotion and Protection of Investments” signed in 1991 between the Kingdom of the Netherlands and the Czech and Slovak Federative Republic (BIT) was not compatible with European Union law. This paper aims at analyzing the above-mentioned judgment, which was issued on 6 March 2018 (Case C-284/16), assessing its impact on investment arbitration in our country.