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
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.
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.
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)
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.
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.
A number of African governments have made efforts to encourage investment in the continent by entering into bilateral investment treaties and adopting arbitration legislation.
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.
Ecuadorian President Alfredo Palacio has rejected arbitration against his nation for annulling in May the contract with US Oxy oil company that operated there.
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.