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As Honduras leaves World Bank dispute forum, US tries to keep influence
Honduras’ withdrawal from the World Bank investor dispute forum could have a limited practical effect, but it is already read along ideological lines.
Between sovereignty and corporate interests: what is at stake in the Ecuadorian referendum?
On 21 April 2024, the government of Daniel Noboa is holding a referendum in Ecuador to amend the country’s constitution and, in particular, to reactivate the dangerous investor-state dispute settlement mechanism.
The lucrative world of international arbitration
International investment agreements enable corporations to sue foreign governments for loss of profits. The sums they demand can be so huge that even the threat of a claim is enough to make governments cave in.
Honduras ratchets up battle with crypto-libertarian investors, rejects World Bank court
After the Honduran president repealed a law granting unfettered authority to outside investors, the cryptoquistadors took the dispute to a World Bank arbitration court.
Economists: "The era of corporate supremacy in the international trade system is coming to an end"
85 leading economists “commend” Honduras’ decision to quit international court that prioritises “corporate profit” over “sustainable development”.
Honduras Denounces the ICSID Convention
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
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
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
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”
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
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
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
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
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 ...
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
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
Highlights from the workshop organised in Marrakesh by Attac Maroc,, CADTM Africa, GRAIN and the Tunisian Observatory of Economy.
Zenith adds another arbitration case over Tunisia problems
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
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
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.