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Public Hearings in High-Profile Vattenfall v. Germany Arbitration Discuss Valuation and Recent Constitutional Court Decision, Investment Arbitration Reporter

November 22, 2020

This Investment Arbitration Reporter piece highlights the currently unfolding public hearings in the Vattenfall v. Germany (2) arbitration. In 2014, Swedish energy company Vattenfall brought a €4.7 billion claim against the German government after it adopted a series of regulatory measures aimed at accelerating the phase-out of nuclear power production in the aftermath of the 2011 Fukushima nuclear power plant incident in Japan. Vattenfall sued for Settlement of Investment Disputes over the resulting closure of its Brunsbüttel and Krümmel nuclear power plants.

In these most recent hearings, the parties are discussing their submissions regarding Tribunal Question 8, which deals with the claimants’ damages based on a June 2011 valuation date, as well as the impact of a decision from the German Federal Constitutional Court earlier this month that found that the German legislature had failed to remedy a previously-identified violation of Vattenfall’s constitutionally protected right to property. Morgan Lewis partner Dr. Sabine Konrad represents Germany. Watch the first two days of the hearings here (day one) and here (day two).

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