NEWSLETTER-2019-metin

185 ARBITRATION LAW It should be noted that the MSs did not provide a common posi- tion on the effect of the Achmea judgment on the investor-state arbitra- tion clause of the Energy Charter Treaty and adopted separate versions of the declaration 12 . A Hybrid Investment Court System In line with the above-stated developments, the EU has been es- tablishing a hybrid system to hear the investor-state disputes during the transition process from BIT mechanisms to a multilateral investment court. This system will be governed by investment courts to be estab- lished according to the terms agreed to under free trade agreements. As per the Investment Protection Agreement concluded between the EU and Singapore 13 , investor-state disputes will be heard before a Tri- bunal of First Instance 14 . The decisions of this tribunal will be appealed before the Appeal Tribunal 15 . The Secretariat of the ICSID will provide administrative service, and act as the secretariat of both tribunals 16 . Likewise, according to the EU-Canada Comprehensive Eco- nomic and Trade Agreement 17 (“CETA”) and EU-Vietnam trade and 12 Matejovský, Tomáš / Mareková, Monika / Surdek, Malgorzata / Grenfell, Sarah: “ EU Member States Adopt Declaration on the Termination of All Bilateral Investment Treaties, ” https://www.lexology.com/library/detail.aspx?g=86da4efa- 6174-4141-9a27-18e3635b99f4&l=8A0LFBP (Access date: February 2019). 13 The EU-Singapore Investment Protection Agreement, http://trade.ec.europa.eu/ doclib/press/index.cfm?id=961 (Access date: February 2019). 14 Ballantyne, Jack: “European Parliament Approves EU-Singapore Trade Deal”, https://globalarbitrationreview.com/article/1180412/european-parliament-ap- proves-eu-singapore-trade-deal?gator_td=4nEZnkJKumN9pzEeBCDozwLB1g RrN9AIC900vOg8cnPl6Ub8WMOmZgobssyD9PS8erIhYJ%2bFGH7aRpXM 4kEYQqhjUr7gphwx%2bMOOr6xsj2iAL0xvdt6rWVn3ejd7z4rPOnlwS81TY5- 6JpQ4xrUw4A6ETK9EEnb44aBibp9rJ%2bVJ5S5pPbnQ5%2bIpfpFskgEkwA NkfJh7x%2bWFhIy%2fdeo8%2fBw%2fGEywz9uC1liuUH7tSeUmdXO%2flp YG6aBEERDrl90hn#.XG6NavONQ80.mailto (Access date: February 2019). 15 Article 3.9 and 3.19 of the EU-Singapore Investment Protection Agreement, http://trade.ec.europa.eu/doclib/docs/2018/april/tradoc_156731.pdf (Access date: February 2019). 16 §16 of Article 3.9 and §14 of Article 3.10 of the EU-Singapore Investment Protection Agreement, http://trade.ec.europa.eu/doclib/docs/2018/april/tradoc_156731.pdf. 17 Comprehensive Economic and Trade Agreement entered into force provisionally