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).
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 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.
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.
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries.
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.
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.
The Pakistan government has decided to challenge the award ICSID award that includes $4.08 billion penalty and $1.87 billion interest.
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.
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.
The Cristina Fernández de Kirchner administration nationalised the airline in 2008, paying a symbolic one peso (30 US cents).
Shocking information from insiders tells us that the authorities are about to make a payment to the International Settlement of Investment Disputes of nearly US dollars 500,000 as a prepay for the three litigations.
Recent declarations made by members of the newly elected government of Ecuador reveal a reversal of its predecessor’s decision to denounce and withdrawal from the ICSID Convention, as well as all of Ecuador’s bilateral investment treaties
Mexico’s Secretary of the Economy signed theConvention on the Settlement of Investment Disputes between states and nationals of other states.
A clean break is needed to restore trust, but these stiff tests must be met.
In reality, the EU’s plans are not realistic in the current international context, nor will they appease ISDS critics
Joining the ICSID will enhance international perceptions of Iran as a welcoming country to invest.
A hearing on jurisdiction and the merits in the case will be transmitted live via internet feed from 7-14 September 2016.
The Indonesian government is currently reviewing all its international investment treaties after previously having terminated 20 bilateral investment treaties (BIT).
On 24 July 2015, Costa Rica requested the termination of the arbitral proceedings that the Canadian Mining company, Infinito Gold filed with the Centre for the Settlement of Disputes between Foreign Investors and States.