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Economists: "The era of corporate supremacy in the international trade system is coming to an end"
20-Mar-2024 Progressive International
85 leading economists “commend” Honduras’ decision to quit international court that prioritises “corporate profit” over “sustainable development”.
Honduras Denounces the ICSID Convention
1-Mar-2024 ICSID
On February 24, 2024, the World Bank received a written notice of denunciation of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) from the Republic of Honduras.
Billion-dollar exposure: Investor-state dispute settlement in Mozambique’s fossil fuel sector
23-Feb-2024 Columbia Center on Sustainable Investment
Mozambique faces a substantial economic risk due to its exposure to investor-state dispute settlement (ISDS) claims by foreign investors in its coal, oil, and gas sectors. The investment protections in the country’s international investment agreements and contracts, combined with ISDS, expose Mozambique to multi-billion-dollar financial liabilities.
Tanzania’s attempt to strike out Indiana’s compensation fails to score
12-Feb-2024 Stockhead
Indiana Resources is closer to recovering its historical sunk investment for the unlawful expropriation of the Ntaka Hill nickel sulphide project after the ICSID struck out most of Tanzania’s grounds for requesting the annulment of the award.
Neocolonial ISDS, abused, biased, costly, and grossly unfair
9-Feb-2024 Inter Press Service
Investor-State Dispute Settlement (ISDS) provisions in international trade and investment agreements – long abused by opportunists with means – are slowly being rejected by cautious governments.
International Chamber of Commerce former arbitrator says ISDS has “lost battle of public opinion” and “legitimacy”
1-Feb-2024 AFTINET
To maintain the system, he proposes that business should shift away from ISDS in state-to state trade and investment agreements, and instead move to ISDS in contracts between individual investors and states.
Zim govt pays heavily for seizing timber company’s land
27-Jan-2024 Zimeye
A London court has ordered Zimbabwe to pay US$125 million to two timber firms whose land was seized by the government, rejecting its claim of state immunity in a case that tests the enforcement of international arbitration awards.
Explainer: The different types of investor-state dispute settlement
26-Jan-2024 bilaterals.org
What type of ISDS arbitration has been the most used by corporations? Why is it important to understand the different forms of ISDS?
USD 12 billion dispute decided in Tunisia’s favour
10-Jan-2024 CDR
A wrangle over a shareholding in a Tunisian bank which dates back to the 1980s has finally been resolved in arbitration.
Government reforms face corporate backlash in Honduras
9-Jan-2024 NACLA Report on the Americas
As President Xiomara Castro’s administration works to mitigate the fallout of the post-coup years, transnational companies are lining up to sue the state for lost profits.
Tanzania commits to pay Indiana Resources $118 million if ...
29-Dec-2023 The Citizen
Tanzania has made a commitment to pay Australian mining firm Indiana Resources Limited and its subsidiaries $118 million if the country loses in the final decision of the annulment application.
Sarama Resources issues notice of intent to submit claims to arbitration
11-Dec-2023 Yahoo Finance
Sarama Resources Ltd, advises that it has formally notified the government of Burkina Faso, of the existence of an investment dispute between the Company and Burkina Faso in relation to the government’s withdrawal of the company’s rights to the Tankoro 2 Exploration Permit.
Free trade and debt: the two sides of neocolonialism
16-Nov-2023 bilaterals.org
Highlights from the workshop organised in Marrakesh by Attac Maroc, bilaterals.org, CADTM Africa, GRAIN and the Tunisian Observatory of Economy.
Zenith adds another arbitration case over Tunisia problems
6-Nov-2023 Energy Voice
Zenith Energy has launched international arbitration in Paris against state-owned Entreprise Tunisienne d’Activités Pétrolières (ETAP).
In the 1960s, the World Bank created a mechanism that allows corporations to sue states
31-Oct-2023 Jacobin
The investor-state dispute settlement is a system that empowers foreign investors to sue a sovereign government. It was instituted in the 1960s against the votes of most Latin American countries — and continues to wreak havoc today.
Winshear Gold moves on from Tanzania project, takes $30 million settlement
26-Oct-2023 Mining.com
Canadian gold explorer Winshear Gold (TSXV: WINS) has ended a longstanding dispute with the Tanzanian government in regards to the company’s licences for the SMP project.
Another Canadian mining company claims compensation against Tanzania
6-Oct-2023 The Citizen
Another Canadian mining company, Montero Mining & Exploration has confirmed a date for the hearing of an investment dispute where it is claiming a Sh168 billion (C$90m) compensation against the United Republic of Tanzania.
Tanzania, Canada firm in ‘conditional’ deal over $96m gold suit
28-Sep-2023 The East African
Canadian firm Winshear Gold Corp has announced the suspension of its multimillion-dollar arbitration proceedings against Tanzania over a mining license dispute dating back to 2018, saying it had reached a “conditional settlement agreement” with Dodoma.
‘Silent coup’: how capitalism defeated decolonization
25-Sep-2023 The Real News Network
The crumbling of European empires after WWII didn’t usher in a new era of democracy—instead, we now live in a regime of international corporate rule.
Mexico’s Azteca files arbitration claim against Peru in fibre backbone case
11-Sep-2023 Telecompaper
La compañía peruano-mexicana Azteca Comunicaciones ha presentado un arbitraje de inversiones contra Perú ante el Centro Internacional de Arreglo de Diferencias relativas a Inversiones (CIADI), después de anunciarlo desde 2021.