Multinational corporation ConocoPhillips is seeking to join a court-mandated sale of CITGO shares to collect on a US $8.5 billion international arbitration award.
Canadian firm Winshear Gold Corp has announced the suspension of its multimillion-dollar arbitration proceedings against Tanzania over a mining license dispute dating back to 2018, saying it had reached a “conditional settlement agreement” with Dodoma.
A UN expert calls for ending confidential arbitration agreements in development and trade treaties, which are forcing nations to roll back climate, enviro, human rights protections while owing fossil fuel companies billions in damages.
Winshear Gold Corp. reports that pursuant to the company’s arbitration case against the Republic of Tanzania, the company and Tanzania have suspended arbitration proceedings and have reached a conditional settlement agreement.