Could Brexit trigger investment claims?

  • 27 Oct 2017
  • London, UK
  • EBRD
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Could Brexit trigger investment claims?

Britain’s unexpected decision to leave the EU in last year’s referendum set in motion a political, social and economic avalanche, the consequences of which are far from certain.  One of the many questions raised by the UK’s pending withdrawal from the EU is whether an investor feeling aggrieved by Britain’s decision to leave the EU could bring a claim in an investor state dispute settlement (ISDS) tribunal.

Arguably, foreign-owned financial institutions could seek legal redress, arguing that the changes brought about by Brexit (from the point of exit onwards) will violate legitimate expectations protected by bilateral investment treaties the UK has signed with their country of origin.

This session will address:

  • whether the UK’s exit from the European Union could trigger viable investment arbitration claims against the UK under its 90 in-force bilateral investment treaties and free trade agreements with countries around the world;
  • the likelihood of success of such claims in light of past claims brought against Argentina, Spain and Cyprus in relation to changes to their legal and regulatory frameworks;
  • the types of assurances that prospective foreign investors should seek from the UK as a condition to their investment; and where the right balance between investors’ rights states’ rights to amend their regulatory framework lies.

Speakers include:

  • Markus Burgstaller, Partner at Hogan Lovells
  • Luis González García, Member at Matrix Chambers
  • Ioannis Glinavos, Senior Lecturer at Westminster Law School and author of the paper titled “How to Protest Brexit in an Investment Tribunal”
  • Linda Yueh, Fellow in Economics, St Edmund Hall, University of Oxford; Adjunct Professor of Economics, London Business School

Please contact Oya Osman at OsmanO@ebrd.com

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