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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.
The energy company Vattenfall is demanding compensation from the Federal Republic of Germany. The costs for the arbitration proceedings could exceed 20 million euros this year.
Despite debates about crisis in investment treaty arbitration, most emerging market economies are concluding BITs that provide for ISDS and emerging market multinational companies appear to welcome ISDS.
The dispute is related to Canada-based company Montero Mining’s investment in the Wigu Hill rare earth element project.
Australian mining company Indiana Resources has become the second company in a week to declare a dispute with the Tanzanian government over repossessed retention licences.
India has a faced a number of claims from foreign investors over the years under the BIT regime. It is presently engaged in over 20 investor-State disputes, with a number of them revolving around retrospective tax claims.
NAFTA 2.0 cleared another hurdle as the U.S. Senate approved the trade deal with bipartisan support.
KTurbo claims US government violated terms of KORUS FTA, after US court judged that the company violated place of origin rules.
South Korea has concluded no fewer than 99 investment agreements that allows paper companies to take advantage of investor-state dispute system.
The US-based ridesharing services platform Uber Technologies and its Colombian subsidiary, Uber Colombia, have threatened to initiate arbitration proceedings against Colombia under the Colombia-US Trade Promotion Agreement.
At a time when 3,400 trade and investment agreements protect the interests of transnational corporations, there is no international treaty requiring them to uphold human rights and environmental protection.
The dispute arises out of certain acts and omissions of the United Republic of Tanzania, relating to the SMP Gold Project, says the company.
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.
Inspiring people fought toxic gold mines, dirty oil drilling and greedy luxury real estate projects. Now, costly investor-state dispute settlement (ISDS) lawsuits risk to reverse their community victories.
The ICSID has issued an interim order preventing Nepal’s government from collecting capital gains tax on Axiata’s acquisition of Ncell.
Proper mandatory licenses will be exempt from claims for expropriation under the China BIT model.
Telenor, the principal investor of Bangladesh’s leading mobile phone operator Grameen Phone, has served a legal notice to the President of Bangladesh seeking arbitration.
Commercial ISDS adjudications trump democratically established laws and controls.
The ICSID had issued an interim order directing the government not to take any steps to enforce its decision to collect the outstanding capital gains tax.
A US-based international court issues interim order directing the Nepal government not to impose capital gains tax on Ncell buyout deal for the time being.
