International arbitration within the investor-state-dispute settlement (ISDS) mechanism has become a powerful weapon exploited by MNCs to circumvent national regulations and bully governments
The Indonesian Institute for Global Justice has asked the government to consistently apply the state regulation number 4 of 2009 and ignore Freeports threat to bring its legal dispute with the government to the International Court of Arbitration.
In its latest move to settle a dispute over mining policy, the government has challenged United States mining giant Freeport McMoran to go to an international arbitration tribunal for a fair result.
U.S. mining giant Freeport warned it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world’s second-biggest copper mine.
The Indonesian government should stick to its policy of removing the investor-state dispute-settlement (ISDS) mechanism from its bilateral investment or trade treaties.
A new report finds that corporations have launched 50 lawsuits, worth at least $US31 billion, using secret international arbitration tribunals against 11 countries in the Asian region.
Indonesia will seek a win-win outcome for the Comprehensive Economic Partnership Agreement (CEPA) with the European Union, having exchanged views on a number of crucial sticking points ahead of the next round of negotiations in January.
International corporations that want to intimidate countries have access to a private legal system designed just for them. And to unlock its power, sometimes all it takes is a threat.