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New Ecuadorian government teams up with powerful international lobbies to rejoin investment treaties prohibited by the constitution
Investor-state dispute settlement (ISDS) allow foreign capitalists to run roughshod over the rights of Ecuadorians.
Costa Rica says wins arbitration case over open-pit gold mine
An international arbitration panel ruled Costa Rica does not owe Canadian miner Infinito Gold compensation after the cancellation of a mining project a decade ago.
Ecuador signs the ICSID Convention
Ecuador had denounced the ICSID Convention in 2009. The convention establishes the institutional and legal framework for resolving international investment disputes.
Oil companies don’t deserve reparations for fossil fuel bans. They’ll still want them
Energy conglomerates have recourse to special courts and legal regimes that they helped design – and they won’t go down without a fight.
From gunboats to treaties: Who wrote the rules of globalisation?
From colonisation to investor-state dispute settlements, rich countries have sought to exploit and influence their poorer counterparts for centuries, but how did globalisation in its current form come to be?
Nobel economist and 100 experts condemn corporate action against Argentina and Bolivia after rollback of failed pension privatization
Private insurance corporations are suing Argentina and Bolivia for loss of potential profits as a result of the reversal of privatization of pension programs.
Shell files arbitration claim against Nigeria over spill dispute
ROYAL Dutch Shell Plc launched arbitration proceedings against the Nigerian government over a long-running community dispute.
Record year for arbitration cases registered with ICSID
According to ICSID, there were 58 new cases registered with it last year, up from the previous record high of 56 in 2018 and the 39 recorded in 2019.
Reko Diq Case: NAB unearths corruption to the tune of billions
National Accountability Bureau (NAB) Balochistan has collected irrefutable evidence revealing that billions of rupees have been lost to the national exchequer in the Reko Diq project after the bureau scrutinized its 30-year record.
NextEra wins millionaire renewables lawsuit against Spain
The ICSID has lifted the suspension on the execution of the €290 million award NextEra obtained a year ago.
Ray of hope for Reko Diq penalty being nixed
Pakistan’s chances of having its $6 billion penalty in the Reko Diq case annulled have received a boost with a committee of the International Centre for Settlement of Investment Disputes (ICSID).
Appeal in ISDS: Appealing for the host state?
The basis of a claim in ISDS is always the applicable international investment agreement. There would always be differences and inconsistencies with an appellate mechanism.
Pakistan moves US court to stop over $6bn fine in Reko Diq case
Pakistan has asked a US federal court to pause an Australian copper company’s bid to enforce a $6 billion arbitral award while it looks to have the award nixed.
People power in Romania stopped a mining project. now the corporation is suing for billions of dollars
Romanian and US environmental justice activists demonstrated in Washington, DC, outside a World Bank tribunal hearing on a case brought by Canadian-based Gabriel Resources.
How World Bank arbitrators mugged Pakistan
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries.
Weapons of legal destruction: ISDS lawsuits and Lydian International’s assault on Armenian sovereignty
The signing of an investment treaty involves a unilateral loss of sovereignty on the part of the host state, which is ultimately deemed necessary to attract foreign capital.
Reko Diq Case I: an indictment against ICSID
Pakistan has suffered at the hands of an unaccountable and defective dispute resolution mechanism at the hands of the ICSID, and following the examples of India, South Africa and Brazil, should never have become a part of the ICSID.
Government decides to challenge award
The Pakistan government has decided to challenge the award ICSID award that includes $4.08 billion penalty and $1.87 billion interest.
Pakistan fined Rs950 bn in Reko Diq case
The International Center for Settlement of Investment Disputes (ICSID) of World Bank has rendered almost $6 billion (Rs950 billion) award against Pakistan in Reko Diq case.
QICDRC sign deal to become hub for dispute resolution
Qatar International Court and Dispute Resolution Center (QICDRC) on Sunday entered into a pact with a World Bank body as part of plans to enhance its profile in the global judicial system and establish itself as a hub for dispute resolution.