Investors’ $1.4B Euro ICSID Claim Ended After German Court Bars Intra-EU Claims

Mealey's (February 20, 2024, 2:58 PM EST) -- WASHINGTON, D.C. — Two coal investors, one German and one Dutch, and the Kingdom of the Netherlands discontinued an arbitration brought by the investors for 1.4 billion euros in damages based on a ban of coal-powered energy plants after the highest court in Germany declared the investors’ arbitration claims impermissible under European Union law, an International Centre for Settlement of Investment Disputes (ICSID) tribunal found in an order taking note of the arbitration’s discontinuance....