investor-state disputes | ISDS
Investor-state dispute settlement (ISDS) refers to a way of handling conflicts under international investment agreements whereby companies from one party are allowed to sue the government of another party. This means they can file a complaint and seek compensation for damages. Many BITs and investment chapters of FTAs allow for this if the investor’s expectation of a profit has been negatively affected by some action that the host government took, such as changing a policy. The dispute is normally handled not in a public court but through a private abritration panel. The usual venues where these proceedings take place are the International Centre for Settlement of Investment Disputes (World Bank), the International Chamber of Commerce, the United Nations Commission on International Trade Law or the International Court of Justice.
ISDS is a hot topic right now because it is being challenged very strongly by concerned citizens in the context of the EU-US TTIP negotiations, the TransPacific Partnership talks and the CETA deal between Canada and the EU.
Chevron Corp may pursue an international arbitration claim over environmental pollution allegations in Ecuador, a judge ruled on Thursday, part of a long-running case that carries a potential $27 billion liability for the second-largest US oil company.
The move is certain to be closely watched by international lawyers and policymakers alike, as it will serve as an early test-case of the little-used intellectual property protections contained in BITs.
The World Bank’s International Center for Settlement of Investment Disputes may soon rule on a case brought by US oil company Occidental Petroleum Corp. against Ecuador
Uruguay’s new health legislation, expected to go into effect in March 2010, requires that 80 percent of each side of cigarette boxes be covered by graphic images of the possible detrimental health effects of smoking. Philip Morris argues that this limits the space for branding and thus infringes on its intellectual property rights.
In the context of high global prices for natural resources, particularly gold and oil, Latin American governments seeking to increase the benefits of those resources for their own people are finding themselves increasingly targeted by investor lawsuits.
Cameron should put the money made from the blockbuster where it’s needed most: into indigenous communities struggling for the conservation of their land and livelihood.
Corporacion Quiport S.A., the company building the new Quito international airport, has initiated arbitration proceedings at ICSID against the Republic of Ecuador in connection with its concession to maintain and operate the existing Quito airport and to construct and operate the New Quito International Airport (NQIA) being built outside Ecuador’s capital.
In a blistering attack against Chevron, lawyers for the government of Ecuador accused the oil giant of "triple forum shopping" and reneging on legally-enforceable promises in a motion asking a federal judge to shut down an international arbitration that Chevron is using to try to escape a potential $27 billion environmental liability.
The Ecuadorian government said Occidental Petroleum deserves no compensation for the cancellation of its massive oil concession in the Amazon region, arguing that the decision was taken after the U.S. company broke the law and its contractual obligations by handing over a stake in that project to a Canadian firm.
Chevron has submitted a legal motion and supporting authorities to dismiss a lawsuit that was filed by the government of Ecuador in an attempt to block a Chevron arbitration claim made under international treaty la
Now, Texaco is asking a panel of United Nations Commission on International Trade Law, which works in cooperation with the World Trade Organization, to release it from environmental liability, the communities say.
Spanish firms Abengoa, S.A. and COFIDES, S.A. have launched a claim with ICSID against Mexico over the stalled opening of a toxic waste disposal plant built by them in the municipality of Zimapán, approximately 200 kilometres north of Mexico City.
The government of Ecuador asked a US court on Friday to intervene in its long-running environmental battle with oil giant Chevron Corp.
German investor Reinhard Unglaube, a resident of Costa Rica, has commenced arbitration against his host country over the latter’s refusal to grant the appropriate permits to extend his eco-tourist hotel complex in Playa Grande, Costa Rica.
Chilean Química e Industrial del Bórax Ltd. (“Quiborax”) will continue with its claim against Bolivia at the International Centre for Settlement of Investment Dispute (“ICSID”), despite reports of a settlement agreement and Bolivia’s renunciation of the ICSID convention. The case will likely shed the first light as to the effects of renouncing the ICSID Convention, a controversial topic over which no tribunal has yet to rule.
Occidental is seeking $3.2 billion in damages for Ecuador’s May 2006 decision to cancel the company’s operating contract
Mexico has suffered another loss in a series of investor-state arbitral disputes involving its sugar industry.
Marking a final setback for Argentina in its protracted dispute with US-based water services firm Azurix Corp, on 1 September 2009 an ad hoc committee denied Argentina’s application to annul an ICSID tribunal’s previous decision awarding Azurix approximately US$165 Million for breach of Argentina’s obligations under the US-Argentina Bilateral Investment Treaty.
An agreement has been signed between the Polish Ministry for State Treasury and Eureko to pay the insurer an interim dividend in November 2009 worth €1.85bn.
Ecuador accused Chevron Corp on Thursday of filing an international arbitration claim against the country in an attempt to shield itself against losing a $27 billion environmental damage lawsuit.