NEWSLETTER-2019-metin

187 ARBITRATION LAW • The dispute settlement mechanism established by the CETA does not adversely affect the judicial system of the EU 23 , as it is not intended to review the legality of the acts of the EU 24 ; • It is bound by the exclusive jurisdiction of the CJEU over the interpretation of EU law; • The Achmea reasons cannot be transposed to this examinati- on, since the CETA cannot adversely affect the principle of mutual trust or sincere cooperation 25 . Therefore, the investment dispute resolution mechanism created under the CETA was found to be compatible with EU law 26 . Conclusion The Commission has accelerated its work towards the establish- ment of a permanent court system, while the MSs has committed to terminate intra-EU BITs before the end of 2019. In line with the MSs’ declaration to either set aside or not enforce the intra-EU investment arbitration awards, settlement of intra-EU investment disputes by arbitration is likely to be prevented. Within the period of transformation into multilateral court sys- tem, some disputes are to be resolved before hybrid-permanent courts, which will function as per the free trade agreements that the EU has concluded. 23 Stein, Erica; Dózsa, Dániel: “ Advocate General of EU’s Highest Court Weighs in Favor of an Investment Court System ”, https://www.lexology.com/library/de- tail.aspx?g=4743a739-7838-411f-b069-c989e519abb1&l=89HSZM6 (Access date: February 2019). 24 §124 of the Opinion of Advocate General Bot, Opinion 1/17, upon the request for an opinion by the Kingdom of Belgium, http://curia.europa.eu/juris/document/ document.jsf?docid=210244&mode=req&pageIndex=1&dir=&occ=first&part= 1&text=&doclang=EN&cid=9289968 (Access date: February 2019). 25 §106-108 of the Opinion of Advocate General Bot, Opinion 1/17, upon the re- quest for an opinion by the Kingdom of Belgium, http://curia.europa.eu/juris/ document/document.jsf?docid=210244&mode=req&pageIndex=1&dir=&occ=fi rst&part=1&text=&doclang=EN&cid=9289968 (Access date: February 2019). 26 Perry, Sebastian : “ EU Court Adviser Endorses ISDS in CETA ”, https://globalar- bitrationreview.com/article/1179785/eu-court-adviser-endorses-isds-in-ceta (Ac- cess date: February 2019).