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CJEU ‘effective review’: EU courts expanding oversight of commercial arbitration, extending EU public policy from investment to sport and sanctions, heightening enforcement risks for awards seated inside or outside EU

Published on: 07 April 2026

Published by a Law360 reporter
Legal News
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Article summary

What began with the EU’s assertion of the so‑called primacy of EU law over investment arbitration has since extended to unsettle sports arbitration and, more recently, evolved into an ‘effective review’ model enlarging the part played by national courts of EU Member States in examining commercial awards said to touch on EU public policy. These developments amplify the unpredictability surrounding arbitration across the EU. As a result, successful parties in international arbitrations seated within the EU may increasingly look to incorporate an international element into their strategies for enforcement and recovery...

The Court of Justice’s initial hostility to Investment Arbitration

Many will recall the Court of Justice’s 2018 ruling in Slovak Republic v Achmea BV and its 2021 decision in Republic of Moldova v Komstroy LLC. Emerging alongside a wave of arbitral awards ordering Spain to pay hundreds of millions to European investors, both judgments purported to deem investment arbitration between an EU‑domiciled investor and an EU Member State incompatible with EU law...

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