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The story of a Dutch letterbox which could cost Bolivia a fortune
7-Mar-2008 Corporate Europe Observatory
Running their business via a letterbox company in the Netherlands, transnational corporations profit from the corporate-friendly Dutch tax regime and bilateral investment treaties the Netherlands has with third countries. Euro Telecom Italia (ETI), a subsidiary of Italian telecoms giant ENTEL, is one such letterbox company. ETI recently lodged a complaint with the World Bank tribunal ICSID against Bolivia for compensation, after the Bolivian government had launched a review the company’s much-criticised performance and attempted to negotiate a buy back of what used to be a public telecommunications company.
The launch of a book on the impact of ICSID on human rights
21-Feb-2008 Bolpress
In its introduction the book explains how international financial institutions act like tailors charged with fitting out transnationals with tailor-made suits.
Govt may face ‘claims worth billions’ from foreign firms
7-Feb-2008 Engineering News
Foreign companies operating in South Africa that have lost production and ultimately profit as a result of the power supply crisis might be able to sue the government under bilateral investment treaties
863 citizen groups call on World Bank president to respect Bolivia’s withdrawal from arbitration court
17-Jan-2008 Common Dreams
More than 800 citizens groups from 59 countries on every continent presented a petition on Tuesday, January 15 to World Bank President Robert B. Zoellick, expressing concerns about the International Center for the Settlement of Investment Disputes (ICSID), whose Administrative Council Mr. Zoellick chairs.
WB junks Fraport’s Naia 3 claim
19-Aug-2007 PDI
The World Bank has dismissed the claim for compensation from the Philippine government over the Naia Terminal 3 project of Germany’s Frankfurt Airport Services Worldwide (Fraport)
SA faces R80m claim for Zimbabwe farm loss
18-Jul-2007
A Free State farmer who had farms in Zimbabwe repossessed is taking SA’s government to court to try to force it to ratify a treaty designed to protect South African investments abroad.
Bias seen in int’l dispute arbiters
25-Jun-2007
A little known entity closely affiliated with the World Bank that mediates disputes between sovereign nations and foreign investors appears to be skewed toward corporations in Northern countries, according to an IPS review of pending cases and other independent analyses of the tribunals.
Ecuador pursues trade-preference extension but faces critics in Congress
12-Jun-2007
Ecuador is furiously lobbying members of Congress to extend trade preferences, set to run out at the end of the month, that are intended to counter narcotics trafficking.
Torched accord
11-May-2007
A recently spawned legal battle between Slovakia and Madeta, the Czech Republic’s largest dairy processor, has led to a discovery that, for the past 10 years, Slovakia has not honored a trade agreement signed between the countries during the Velvet Divorce.
Bolivia notifies World Bank of withdrawal from ICSID, pursues BIT revisions
9-May-2007 ITN
Investment Treaty News has learned that Bolivia has sent a formal notice to the World Bank’s International Centre for the Settlement of Investment Disputes (ICSID) declaring its withdrawal from the ICSID convention.
Challenging corporate investor rule
4-May-2007 IPS
How the World Bank’s investment court, free trade agreements, and bilateral investment treaties have unleashed a new era of corporate power and what to do about tt
Foreign investors gone wild
3-May-2007 FPIF
When Bolivian President Evo Morales took office in January 2006, he pledged to follow through on his campaign pledge to increase Bolivians’ share of revenues from their major source of foreign income, natural gas. International gas companies, however, threatened to sue. Previous Bolivian governments had signed a flurry of bilateral investment treaties that gave foreign investors the right to bypass domestic courts and file such lawsuits through international tribunals. Morales complained that these rules made him feel like a “prisoner” in the presidential palace.
Latin leftists mull quitting World Bank arbitrator
2-May-2007
Bolivia and Venezuela, both nationalizing huge swathes of their economies, should quit a World Bank body that arbitrates between foreign investors and states, Bolivia’s president said on Sunday.
"Cuba is not with OAS and is not dead"
30-Apr-2007
The 5th summit of the Bolivarian Alternative for the Americas (ALBA) ended with a flexible energy agreement and withdrawal from the International Centre for Settlement of Investment Disputes (ICSID)
Claim against ROA Government
9-Apr-2007
Global Gold mining company submitted its claim to the International Center for Settlement of Investment Disputes (ICSID), a body adjunct to the World Bank, against the Government of the Republic of Armenia (ROA). The Company is trying to protect its investment rights in arbitration court.
US mining firm sues Armenian government
22-Mar-2007
A US company mining gold in Armenia has initiated an international arbitration of its bitter dispute with Environment Minister Vartan Ayvazian whom it accuses of corruption and other violations of the law.
Africa: Arbitration nation
28-Oct-2006 Legal Week
A number of African governments have made efforts to encourage investment in the continent by entering into bilateral investment treaties and adopting arbitration legislation.
International court rules in favor of Hungary in Telenor case
21-Sep-2006
The International Centre for Settlement of Investment Disputes (ICSID) has ruled in favor of the State of Hungary in a case brought against it by Norwegian telco Telenor, business daily Világgazdaság reported on Monday.
Ecuador Prez: No Oxy arbitration
11-Sep-2006
Ecuadorian President Alfredo Palacio has rejected arbitration against his nation for annulling in May the contract with US Oxy oil company that operated there.
Court denies Occidental bid for assets - Ecuador
24-Aug-2006
An international arbitration court has rejected a request by Occidental Petroleum Corp. to stop Ecuador from seizing its assets in the Andean country, a government official said on Tuesday.