Swedish energy giant Vattenfall will take advantage of an "extraordinarily powerful legal tool" now available to the world’s corporations to sue the German government for phasing out nuclear power, it was confirmed this week.
The South Korean government describes the investor-state dispute system (ISD), introduced by the country for 81 bilateral investment treaties (BITs) formed since 1967, as a means of protecting offshore investments by South Koreans. But South Korea has never once sued another country, nor has the government been sued by a foreign investor. The reason was that none of those treaties was with the United States.
This article tries to provide a first brief assessment of the leaked EU negotiation mandate for an investment protecting agreement in the EU free trade agreements with Canada, India and Singapore.
On Monday 12 September the General Affairs Council approved negotiating mandates for investment
protection chapters in free trade agreements with Canada, India and Singapore.
Chevron Corp., the second-largest U.S. energy company, said it won a $96 million judgment against Ecuador in an international arbitration case stemming from a 1990s oil-export dispute with the Latin American nation.
Legislation requiring tobacco products to be in plain packaging was passed by Australia’s House of Representatives last night. This is the first such measure in the world to become law.
In violation of international agreements, natural gas has not flowed for months across the Sinai desert through the pipeline that connects Israel and Jordan to Egypt. Since former President Hosni Mubarak’s fall in February, political uncertainty and intermittent attacks have halted its delivery.
Azurix Corp plans to ask the Obama administration for help in recovering more than $230 million it says it is owned by the government of Argentina. It would be the first time a US company has used the "Section 301" trade law to pressure a foreign government to pay an award decided by an arbitrator in an investment dispute.
Philip Morris asserts that fair and equitable treatment includes a right to a “stable and predictable regulatory framework” as well as rights under treaties in addition to customary international law.
The government of Turkmenistan faces legal action from twenty Turkish construction firms over broken contracts costing them more than $1 billion in losses, a spokesman representing the companies said on Wednesday.
Despite a demand by the European Union (EU), India is unlikely to allow a clause in a proposed trade pact with the bloc that permits an overseas investor to sue a host country at an international dispute settlement agency.
La minera canadiense Bear Creek Mining anunció que recurrirá al TLC entre el Perú y Canadá para defender la inversión y continuidad del proyecto minero Santa Ana.
Pacific Rim is suing the Salvadoran government in an international investment court, one of scores of cases in recent years in which frustrated oil, gas and mining investors, using provisions of trade agreements, have sought to recoup losses from mostly developing countries.
Tobacco giant Philip Morris suing the Australian government for introducing plain packaging laws for tobacco should send shockwaves through this country as it seeks a free trade deal involving the US, says an academic critic of the deal.
Canada’s Bear Creek Mining Corp. is threatening a legal challenge
against Peru after its mining rights were revoked in a move that raises
the risk for other resource companies doing business in the
mineral-blessed South American country.
Prime Minister Julia Gillard says she won’t be intimidated by big tobacco after Philip Morris launched legal action to try to force the government to back down on introducing plain packaging for cigarettes.
The office of Ecuador’s Attorney General will represent Ecuador in Washington at a June 30 hearing in the arbitration case filed against the Andean country by US oil company Occidental Petroleum Corp.
One of the world’s biggest tobacco companies is launching a claim against Uruguay for considering the country’s legislation commercially damaging to the company. Philip Morris corporation has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID), a World Bank branch.
UAE companies that have invested in Egypt may stand to lose millions of dollars as the state runs an investigation into alleged corruption by former government officials who sold land and assets to investors below market prices, lawyers say.
International Centre for Settlement of Investment Disputes is an autonomous international organisation, linked to the World Bank. It is the most ’referred to’ arbitration facility for disputes under bilateral trade and investment agreements, with its own set of rules and procedures.
International Institute for Sustainable Development carries out analysis and information work on regional and bilateral investment rules and their implications for sustainable development.
ITA serves as a resource for lawyers, academics, government officials, researchers and members of civil society who are interested in international investment law. It provides: access to all publicly available investment treaty awards; information and resources relating to investment treaties and investment treaty arbitration; and links to further resources.
United Nations Commission on International Trade Law is a body under the UN General Assembly mandated to unfiy international trade law. Disputes between investors and states under many FTAs and BITs are arbitrated, in private, according to UNCITRAL rules. UNCITRAL itself does not administer arbitrations.