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    • 18/10/2021
    • Books

    Philippe De Baere authors WTO chapter of The International Trade Law Review, 7th edition

    The International Trade Law Review, the 7th edition of which was recently published by Law Business Research, includes a chapter on the World Trade Organization authored by Philippe De Baere. The chapter examines significant legal developments in the area of WTO dispute settlement proceedings during the past year and addresses the impact of covid-19 on those proceedings as well as the Appellate Body impasse, the Multi-party Interim Appeal-Arbitration Arrangement and the use of alternative means of dispute resolution. Van Bael & Bellis associates Tetyana Payosova, Joanna Redelbach and Victor Crochet assisted in the drafting of the chapter.  Please click on the PDF below to access the chapter.

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    • 20/09/2021
    • Articles

    Propuesta de la Comisión Europea de un Reglamento por el que se establece un Mecanismo de Ajuste en Frontera por Carbono (“MAFC”)

    El 14 de julio de 2021, como parte del paquete de medidas “Objetivo 55”, la Comisión Europea publicó una propuesta de reglamento por el que se establece un Mecanismo de Ajuste en Frontera por Carbono (“MAFC” o “CBAM”, por sus siglas en inglés). Esta alerta resume los principales elementos de la propuesta de la Comisión.

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    • 20/09/2021
    • Articles

    The EU Carbon Border Adjustment Mechanism in Seven Questions for MENA Industries

    On 14 July 2021, the European Commission published a proposal for a regulation establishing a carbon border adjustment mechanism (“CBAM”). The proposed regulation is part of the European Union’s (“EU”) initiatives to address climate change, in line with the objectives of the Paris Agreement.

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    • 09/09/2021
    • Articles

    Case C-741/19: The CJEU decides that intra-EU ECT arbitration is incompatible with EU law and interprets the definition of “investment” in the ECT

    On 2 September 2021, in its judgment in Case C-741/19, Republic of Moldova v. Komstroy LLC, the Court of Justice of the European Union (“CJEU”) decided that intra-EU arbitration under the Energy Charter Treaty (“ECT”) is incompatible with EU law. It also gave a restrictive interpretation to the definition of “investment” in the ECT.

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    • 06/08/2021
    • Articles

    Risk to Foreign Investments in the Energy sector in Mexico

    This Client Alert provides an overview of current reforms in the Energy sector in Mexico and the potential effects of such reforms on foreign investments in Mexico.

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    • 03/08/2021
    • Articles

    Brussels Court of Appeal Upholds Attachment Order against Kazakhstan

    On 29 June 2021, the Brussels Court of Appeal (the Court of Appeal) handed down a judgment in which it upheld a protective attachment order over more than USD 500 million worth of assets, owned by Kazakhstan, and held with the Brussels subsidiary of the Bank of New York Mellon (the BNYM). Background The proceedings before the Belgian courts result from the efforts of two Moldovan investors (Anatolie and Gabriel Stati (the Investors)) who seek to enforce an arbitral award handed down in their favour in 2013. The arbitral tribunal (chaired by Karl-Heinz Böckstiegel) had found Kazakhstan liable for a harassment campaign against the Investors which ultimately resulted in a violation of the Energy Charter Treaty provisions on Fair and Equitable Treatment. As a result, the arbitral tribunal had ordered Kazakhstan to pay USD 508 million to the Investors as compensation for the damage suffered. In the absence of voluntary payment from Kazakhstan, the Investors sought a protective attachment order from the Brussels Court of First Instance in 2017 enabling them to freeze assets owned by Kazakhstan held with BNYM pending the outcome of the proceeding leading to the recognition and enforcement of their arbitral award in Belgium. The protective attachment order was obtained in ex parte proceedings (i.e., without notice to Kazakhstan). However, upon notice of the attachment order, Kazakhstan lodged a third-party opposition (tierce opposition / derdenverzet) challenging the validity of the protective order. After the Brussels Court of First Instance dismissed the third-party opposition, Kazakhstan appealed that decision before the Court of Appeal.

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    • 14/07/2021
    • News

    Gabriele Coppo, Mats Cuvelier and Elyse Kneller participate in seminar on export control compliance

    On the first of July, Gabriele Coppo, Mats Cuvelier and Elyse Kneller spoke at a seminar, co-hosted by Van Bael & Bellis, on key compliance risks for companies exporting military goods and dual-use items, including intangible technology transfers. Their presentation also covered international and European regulatory initiatives related to corporate and social responsibility duties affecting trade. The seminar was part of a meeting of the Belgian Security and Defence Industries (“BSDI”), the national trade association bringing together companies in the defence, aerospace, (cyber-) security sectors. The seminar was the first in-person event BSDI had organized in more than a year, providing the VBB team with an eager and engaged audience.

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    • 28/06/2021
    • Articles

    The EU’s upcoming sustainable corporate governance rules: What can businesses expect?

    The growing political focus on the protection of the environment, human rights and labour rights may soon translate into additional obligations on companies in order to ensure the respect of such societal values throughout their entire supply chains. The European Commission (“Commission”) is likely to publish a legislative initiative on sustainable corporate governance,1 which would set out rules that require companies to address adverse sustainability impacts within their operations and international value chains. The Commission is also contemplating regulating the remuneration of corporate directors and enforcing them to integrate stakeholders’ interests and corporate sustainability risks into the implementation of the corporate strategy. This client alert sets out what businesses can expect from the upcoming sustainable corporate governance initiative and its potential impacts on company operations and value chains. In section 1, we explain what the sustainable corporate governance initiative is before turning to the rules that the Commission is considering in section 2. Finally, in section 3, we briefly discuss the effects that these rules might have on businesses.

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