A New Court to Europe?
The EU’s commission has approved its own proposal for resolving investor vs state disputes. The court would be called the investment Court System.
The court would replace all ongoing and future disputes between investors and states. The commission is hoping this will help on resolving some of the weak points that the ongoing Transatlantic Trade and Investment Partnership (TTIP) has had according to several critiques.
The Commission states that it is extremely important that the new court would have the trust of all actors involved in the matter. Meaning states, national parliaments and stakeholders.
The court would have fully qualified judges, cases would be decided on rules, hearings would be open and the process would be transparent which means no more decisions behind closed doors. The court itself would have both first instance tribunal and an appeal tribunal.
This would ensure that forum shopping would stop and simultaneous parallel proceedings would be avoided.
If the Council and the Parliament would approve the Commission’s suggestion the EU would need to take the suggestion to the ongoing TTIP negotiations with the USA, and also other possible trade agreements with other states.
The goal would be to replace all investment dispute resolution mechanisms provided in EU agreements, EU member states agreements with non-member states and also treaties concluded between non- member states.