In anticipation of an imminent ruling from a little-known arbitration tribunal at the World Bank that could force El Salvador to pay Canadian-Australian mining firm OceanaGold US$301 million, a Salvadoran delegation is visiting Canada to discuss how investor-state arbitration threatens democratic decision-making, public health and the environment here and beyond our borders.
The United States has rejected a European Union proposal to establish a global investment court aimed at resolving disputes arising from a massive free trade treaty with the US.
European Trade Commissioner Cecilia Malmström tried to convince MEPs that there are ways to keep the Investment-State Dispute Settlement in the Transatlantic Trade and Investment partnership deal. But unimpressed lawmakers failed to greet it as a full-fledged reform.
From an international policy point of view, South Africa’s denunciation of BITs is reasonable. It may even be seen as a refreshing retreat from a legal quagmire. But the domestic reality requires wider consideration.
V.V. Veeder, a British national, has been appointed as the presiding arbitrator for a $4.7 billion international litigation between the Korean government and Dallas-based Lone Star Funds, sources said Tuesday.
The European Commission’s most recent proposal for ISDS reflects a move away from fake reforms to something potentially more meaningful, but it is insufficient and unreliable, says legal expert Gus Van Harten.