Spór Komisji Nadzoru Finansowego Abris Capital Partners: międzynarodowe umowy o ochronie inwestycji (bit) pomiędzy państwami członkowskimi V. prawo unii europejskiej

Abstrakt

The dispute between the Polish Financial Supervision Authority and the Abris-EMP Capital Partners limited fund is of precedential significance for financial market law. in the article, the Author presents the essence of the case and the status of international investment protection agreements (BiTs – Bilateral investment Treaties) in the legal order of the european Union, which was the key issue for its final resolution. The Author analyzes the supervisory decisions of the Polish Financial Supervision Authority towards PL Holdings S.à.r.l.. (a subsidiary of Abris Capital Partners) due to the failure of the fund to fulfill its investment obligations towards the Polish supervisory authority, and the arguments put before the Arbitration Tribunal at the Chamber of Commerce in Stockholm, before which the dispute had been ongoing within the investment arbitration. The Tribunal issued two unfavorable judgments in 2017, stating that the republic of Poland had violated the investment protection agreement concluded between Poland, Belgium and luxembourg by committing an unlawful expropriation to the investor. The Tribunal awarded 760 million Pln from Poland as compensation. The General Prosecutor ’s office appealed against this decision to the Stockholm Court of Appeal and the post-arbitration proceedings have yet to be completed. The judgment of 6 march 2018 in Case C-284/16 Achmea, in which the Court of Justice of the European Union ruled that the arbitration model of resolving disputes provided for in investment agreements between Member States is incompatible with european Union law, is of paramount importance for the final resolution of this case.