In a disappointing judgment, the Court of Justice of the EU (CJEU) has ruled today that the investment court system in the Canadian EU trade agreement (CETA) is compatible with EU law.
30 organisations de la société civile demandent la fin du mécanisme d’arbitrage entre investisseurs et États qui bénéficie exclusivement aux investisseurs étrangers au détriment des Etats et des citoyens et mine la démocratie.
In 2015, Gabriel Resources sued Romania before of the ICSID, asking for a reported four billion dollars in damages, after protests halted plans for Europe’s largest gold mine.
The company’s Canadian and British subsidiaries have already announced their intention to initiate arbitration proceedings against Armenia in accordance with bilateral agreements if the matter is not resolved.
Many countries have become wary of the system and are restructuring or terminating their investment agreements. This is the ambience in which the Court of Justice will decide whether the CETA is compatible with EU law.
The Czech-based company Petrolama Namur Oil Sands Exploration filed a notice of dispute against Canada on March 29 over the delay in completing the expansion of the Trans Mountain pipeline.
C’est le 30 avril prochain que la Cour de justice de l’Union européenne rendra son avis concernant la compatibilité avec le droit de l’UE du système d’arbitrage prévu dans l’accord commercial entre l’Union et le Canada (CETA).