In spite of the fact that consent is the main building block of arbitration, arbitral awards have been steady for some years that a claimant need not have a contractual relationship with a respondent state to initiate arbitral proceedings versus this state, i.e. states unexpectedly were made respondents in arbitrations under arbitration clauses they have never approved or even bargained.
Until the Philippine government and Fraport AG (Frankfurt Airport Services Worldwide) have resolved all the legal issues and Fraport fairly compensated, the NAIA Terminal 3 is unlikely to attract long term locators, according to German ambassador to the Philippines Christian Ludwig Weber-Lortsch.
New Delhi is considering a proposal to join the World Bank convention, International Convention on Settlement of Investment Disputes (ICSID).
A panel from the World Bank’s International Center for Settlement of Investment Disputes, or Icsid, said late Tuesday that it has jurisdiction for the claim of the US-based oil company Occidental Petroleum Corp. (OXY) against Ecuador.
A British water company thrown out of Tanzania over a bungled privatisation deal has failed in its bid to win up to £10m in damages.
South African taxpayers may have to pay millions of rands in compensation for the government’s failure to act in Zimbabwe when hundreds of white-owned farms belonging to South Africans were confiscated in 2000.
While it is a US company, Exxon Mobil is entitled to invoke protection under the Netherlands-Venezuela Investment Promotion and Protection Convention, which guarantees resolution of Exxon Mobil’s dispute with Venezuela in the International Center for Settlement of Investment Disputes (ICSID).
Amid the noisy battering the North American Free Trade Agreement (Nafta) is taking from both Democratic presidential hopefuls, one recent statement from Hillary Clinton was particularly resonant. "We will have a very clear view of how we’re going to review Nafta," the New York senator said. "We’re going to take out the ability of foreign companies to sue us because of what we do to protect our workers."
Canada has just passed legislation implementing the ICSID Convention, a very important tool for the resolution of investor-state disputes. But the government has not yet indicated a timetable for ratification of the treaty. To date, only four provinces and one territory have passed similar implementing legislation.
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.
In its introduction the book explains how international financial institutions act like tailors charged with fitting out transnationals with tailor-made suits.
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
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.
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)
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.
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 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.
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.
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.
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