L’Equateur a annoncé officiellement le 8 octobre 2012 qu´il exigera l’annulation de la dernière décision du Centre International pour le Règlement des Différends Relatifs aux Investissements (CIRDI) communiquée le 5 octobre 2012
Ecuador officially announced on 8 October 2012 that it will request the annulment of the recent decision of the International Centre for the Settlement of Investment Disputes (ICSID) which was communicated on 5 October 2012 (ICSID Decision ARB/06/11).
On 5 June 2012 the arbitral tribunal of the International Centre for Settlement of Investment Disputes (ICSID) adopted the decision on the case initiated by Caratube International Oil Company LLP (CIOC) against the Republic of Kazakhstan.
In a May 31 press release, the US private equity fund Lone Star said it was planning to request investor state dispute (ISD) arbitration for losses suffered due to "unlawful" interference by the South Korean government.
President Cristina Fernández de Kirchner questioned US president Barack Obama’s recent decision to suspend trade benefits for Argentina, while complaining that “we can’t even manage to get one of our lemons to enter the US market.”
U.S. President Barack Obama said on Monday he was suspending trade benefits for Argentina because of the South American country’s failure to pay more than $300 million in compensation awards in two disputes involving American investors.
The United States could soon suspend trade benefits for Argentina because of that country’s failure to pay awards in two long-running investment disputes with U.S. companies, a U.S. trade official said on Monday.
Argentina has never threatened to quit ICSID. Its government insists it is open to honouring the awards. The only delay, it says, is that the claimants have not brought their rulings to a local court for collection.