Wednesday, June 2, 2021
On May 25/5/2021 Gregory Pelecanos, Senior Partner, participated at the “Investing in Greece Law Forum” in his capacity of President of the Legal Committee of the Hellenic German Commercial and Industrial Chamber. Gregory discussed Investment Arbitration, EU trends and certain Greek particularities.
His presentation (click to see the PPP in Greek) discussed the perceived benefits of Investor- State arbitrations and then concentrated on the impact of the 2018 Achmea ruling of the Court of Justice of the European Union on arbitrations in the context of Bilateral and Multilateral Investment Treaties and other Commercial Disputes with Host States.
In particular Gregory discussed whether the ruling affects the competence of arbitration tribunals, award set aside and recognition /enforcement actions, based on whether the arbitration proceedings were ICSID or other, outside the EU or within the EU.
Gregory then expanded on arbitration practice in Greece, the need to de-politicize arbitration and the follow-up court proceedings and speed up and make the involvement of Greek courts more efficient.
Finally, Gregory discussed whether Greek State practices upon payments are consistent with the private international law rule for “prompt, adequate and effective” compensation.