Now, Texaco is asking a panel of United Nations Commission on International Trade Law, which works in cooperation with the World Trade Organization, to release it from environmental liability, the communities say.
Spanish firms Abengoa, S.A. and COFIDES, S.A. have launched a claim with ICSID against Mexico over the stalled opening of a toxic waste disposal plant built by them in the municipality of Zimapán, approximately 200 kilometres north of Mexico City.
German investor Reinhard Unglaube, a resident of Costa Rica, has commenced arbitration against his host country over the latter’s refusal to grant the appropriate permits to extend his eco-tourist hotel complex in Playa Grande, Costa Rica.
Chilean Química e Industrial del Bórax Ltd. (“Quiborax”) will continue with its claim against Bolivia at the International Centre for Settlement of Investment Dispute (“ICSID”), despite reports of a settlement agreement and Bolivia’s renunciation of the ICSID convention. The case will likely shed the first light as to the effects of renouncing the ICSID Convention, a controversial topic over which no tribunal has yet to rule.
Marking a final setback for Argentina in its protracted dispute with US-based water services firm Azurix Corp, on 1 September 2009 an ad hoc committee denied Argentina’s application to annul an ICSID tribunal’s previous decision awarding Azurix approximately US$165 Million for breach of Argentina’s obligations under the US-Argentina Bilateral Investment Treaty.
Ecuador accused Chevron Corp on Thursday of filing an international arbitration claim against the country in an attempt to shield itself against losing a $27 billion environmental damage lawsuit.
Chevron, the world’s third biggest oil company, said it had filed an international arbitration claim against the government of Ecuador, citing violations of the country’s obligations under the US-Ecuador bilateral investment treaty, investment agreements and international law.
An arbitral tribunal appointed by the International Centre for Settlement of Investment Disputes (lCSID) of the World Bank hearing a claim brought by a Turkish investor against the Islamic Republic of Pakistan has rejected all claims for breach of a bilateral investment treaty between the two countries.
US-based Corn Products International has been awarded damages of over $58m in a dispute with Mexico over violations of the North America Free Trade Agreement.
La salida del CIADI, la incorporación a la ALBA y a la UNASUR, así como las restricciones arancelarias impuestas a sus vecinos de la CAN, son medidas tomadas recientemente por el gobierno ecuatoriano que muestran una política comercial alternativa.
Some managed investment funds may not be able to seek protection under bilateral investment treaties when investing abroad, according to a recent award rendered in an investment treaty arbitration between a various Spanish investment funds and the Russian Federation (Renta 4 S.V.S.A v Russian Federation).
Las empresas representadas bajo el nombre de Pacific Rim Cayman LLC, en el marco del Tratado de Libre Comercio entre Estados Unidos, Centroamérica y Republica Dominicana (CAFTA - DR por sus siglas en inglés) demandan al Estado por una cantidad inicial de US$77 millones de dólares, en concepto de indemnización por daños a la inversión realizada en nuestro suelo.
Investment treaties and free trade agreements offer few instructions as to how such agreements should be reconciled with human rights obligations of the state.
A unit of Goldcorp has lost a bid to get $50 million in compensation after a US trade tribunal rejected claims the gold miner’s operations were hampered by environmental regulations
The global network of over 2800 bilateral investment treaties has been built on the basis of promoting foreign direct investment, and yet, after a decade of research, whether in fact BITs lead to an increase in FDI flows is a matter of debate. ITN has posed a few questions to three academics for their views on the relationship between BITs, FDI flows and sustainable development.
Dow AgroSciences is mulling over a NAFTA challenge to Quebec’s law banning the cosmetic use of pesticides, setting a spotlight on one of the most controversial clauses of the trade agreement among Canada, the United States and Mexico.
Profiles a series of lawsuits that have arisen between foreign investors and their host states — where state compliance with investment treaty obligations is in question and where human rights concerns have resulted from investment projects.
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.