Achmea BV (formerly known as Eureko BV) v. Slovak Republic

Abstract

Arbitration — Applicable law — Investment arbitration — Proceedings instituted by investor incorporated in one European Union State against another European Union State — Bilateral investment treaty between two European Union States — Whether compatible with European Union law — Whether European Union law forming part of the law to be applied by the tribunal — Seat of arbitration in a third European Union State — Jurisdiction of the arbitration tribunal — Costs — UNCITRAL Rules, Article 40(1)

Damages — Principle of full compensation for loss — Chorzów Factory principle — Causation — Cost of suspension of activities of investment — Valuation — Cost of borrowing — Interest

Economics, trade and finance — Investment — Bilateral investment treaty — Fair and equitable treatment — Health insurance business — Ban on profits and prohibition of sale of portfolio — Full protection and security — Free transfers

Expropriation — Investment — Bilateral investment treaty — Protection against expropriation — Requirement of deprivation of investment — Measures subsequently reversed — Whether amounting to deprivation of property