The European Association Of Judges (EAJ) Rejects ICS
The European Association Of Judges says it “does not see the necessity for such a court system”.
In its 2016 statement, “On The Proposal From The European Commission On A New Investment Court System,” the European Association Of Judges (EAJ) said: “The proposal of ‘new Investment Court System’, as announced by the European Commission on September 16th 2015 is regarded by the European Association of Judges (EAJ) with serious reservations. […] The EAJ does not see the necessity for such a court system. The judicial system of the European Union and its member states is well established and able to cope with claims of an investor in an effective, independent and fair way.”
Not Acceptable: Part-Time Arbitrators Paid By The Day:
And went on to say that: “These provisions for the election, time of office and remuneration for the judges of the ICS do not meet the minimum standards for judicial office as laid down in the European Magna Carta of Judges or other relevant international texts on the independence of judges. [ … ] As the judges do not have to expect a proper salary, their financial independence is in danger.”
Concluding that, “The European Union and its member states have a well-functioning judicial system which is capable of protecting the rights of an investor in all areas of law. It should be central to an international treaty on trade and investment, to apply this system to investors as the central body to safeguards its rights.”
Read full statement here: ‘Statement From The European Association Of Judges (EAJ) On The Proposal From The European Commission On A New Investment Court System’: https://ala.org.es/wp-content/uploads/2017/02/Statement-European-Association-of-Judges.pdf
Reference: Association Européenne des Magistrats: ‘Statement From The European Association Of Judges (EAJ) On The Proposal From The European Commission On A New Investment Court System’, Paris, November 9th, 2015. Available at: http://ala.org.es/wp-content/uploads/2017/02/Statement-European-Association-of-Judges.pdf