Italian law firm ArbLit has recently secured an important victory on behalf of the claimants in the investor-State arbitration Natland Investment Group N.V., Natland Group Limited, G.I.H.G. Limited, Radiance Energy Holding S.à.r.l. v. The Czech Republic (PCA Case No. 2013-35).
The case was brought by a group of photovoltaic investors from Cyprus, The Netherlands and Luxembourg who complained of the retroactive repeal of the incentive regime set up by the Czech Republic to promote investments in the renewable energy sector.
The Arbitral Tribunal – composed of Dr. Veijo Heiskanen, Mr. Gary Born and Mr. J. Christopher Thomas QC – unanimously found that the Czech Republic’s solar reform enacted at the end of 2010 (specifically, the introduction of the so-called “solar levy” on Feed-in-Tariffs) – breached the Fair and Equitable Treatment obligation set out in the Energy Charter Treaty and in some of the Bilateral Investment Treaties invoked by the investors.
ArbLit is also representing other photovoltaic investors in parallel arbitrations against the Czech Republic (PCA Cases Nos. 2014-1, 2014-19, 2014-20, 2014-21, 2014-22). The related decisions are expected to follow shortly.
Founding partners Luca G. Radicati di Brozolo and Michele Sabatini led ArbLit’s team composed of senior associates Flavio Ponzano and Emilio Bettoni and trainees Vanessa Zanetti and Lucia Pontremoli.
At the hearing, Nico Leslie (picture), barrister at Fountain Court Chambers (London), also joined ArbLit’s team.
Involved fees earner: Nico Leslie – Fountain Court Chambers;
Law Firms: Fountain Court Chambers;