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Dolores Utrilla
Dolores Utrilla
3rd May 2021
External Relations & Trade Internal Market Justice & Litigation

Op-Ed: “PS Achmea: P L Holdings and the ‘individual arbitration agreement’” by Gillian Cahill

On 22 April 2021, Advocate General Kokott handed down her Opinion in the case of PL Holdings v Poland (C-109/20). This case follows hot on the heels of the Court of Justice’s Achmea decision (C-284/16) which prohibited an investor state dispute resolution provision contained in an intra EU Bilateral Investment Treaty that permitted an investor of a Member State (MS) to initiate arbitral proceedings against another MS, before an arbitral tribunal whose jurisdiction that MS has undertaken to accept. The fallout of the Achmea decision was swift and fast, effectively putting an end to investment arbitration arising out of intra-EU BITs in Europe. Or at least so it was thought until the Opinion in PL Holdings. In this case, AG Kokott determin


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