US Trade Representative Robert Lighthizer said that the US wants to opt out of ISDS in NAFTA, because of the risk and costs of US governments being sued by foreign corporations, and despite corporate lobby groups pushing to retain ISDS.
The arrest of and investigation into former economy minister Pavol Rusko could have an international dimension for Slovakia, as EuroGas wants to make use of the situation in order to renew arbitration proceedings against Slovakia.
Corporate lobby isolated in its strident defense of the controversial regime that was first inserted into US trade deals with NAFTA and that elevates individual corporations to equal status with nations.
On July 2016, a Partial Award dismissed the Renco Group Inc. v. The Republic of Peru case, indicating, however, that a new arbitration claim could be pursued against the State.
This far-flung peninsula in the North Atlantic seems an unlikely place for an international trade dispute. But an American company’s scuttled plans to build a quarry here have turned these quiet fishing grounds into a case study.
US clean energy company Invenergy LLC has notified the Polish authorities it plans to turn to international arbitration over its wind investments in the country, if no settlement is reached within six months.