Despite recent criticism from some quarters concerning the use of investment treaties and free trade agreements, the Chinese investment treaty system remains firmly in place.
The tribunal considered that the main and determinative reason for the 2011 restructuring was in order for the tobacco giant to bring a legal claim under the BIT Treaty, using a Hong Kong-based entity.
FIPA sets out respective rights and reciprocal binding obligations for Canada and Hong Kong, including non-discriminatory treatment, minimum standard of treatment and dispute resolutions rules.
Long-running litigation between Uruguay, which has some of the toughest anti-smoking laws in the world, and cigarette giant Philip Morris could have direct consequences for plain packaging legislation globally. Could it also pave the way for legal action in Europe ?
Legislation requiring tobacco products to be in plain packaging was passed by Australia’s House of Representatives last night. This is the first such measure in the world to become law.
Prime Minister Julia Gillard says she won’t be intimidated by big tobacco after Philip Morris launched legal action to try to force the government to back down on introducing plain packaging for cigarettes.