From the perspective of investment-affected communities, foreign investments arise out of a partnership between the investor and the state. Impacted people are often not consulted or involved in project establishment or development.
In August 2023, Volga-Dnepr filed a motion of intent to initiate the dispute with Canada under a 1989 treaty that Ottawa penned with the then-Soviet Union, which included a investor-state dispute settlement system.
In 2021, Rio Tinto filed a notice of dispute related to the government announcement to cancel the Lithium project in the Jadar Valley under the UK-Serbia bilateral investment agreement.
The SAMIR affair, dating back to the refinery’s 2015 closure, has seen Morocco and Corral Holdings locked in a bitter dispute before the ICSID tribunal.
This paper summarizes the discussions within the United Nations Commission on International Trade Law Working Group III on the reform of investor-state dispute settlement regarding the two draft provisions on damages.
Global paper producer Smurfit Westrock has been awarded a $469m arbitration ruling against Venezuela by the World Bank’s International Centre for Settlement of Investment Disputes, the company and the tribunal said.
The dream of Próspera, founded by a US corporation off the coast of Honduras, was to escape government control. The Honduran government wants it gone but Próspera filed an astronomical $10.775 billion lawsuit against the state.
Rio Tinto has officially notified the Serbian government about initiating arbitration proceedings concerning the halted Jadar project, under the bilateral investment treaty between the UK and Serbia.