ISDS Case Map
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The International Court of Arbitration of the International Chamber of Commerce plans to offer its services for settling disputes among companies participating in China’s Belt and Road trade initiative.
ISDS is not only an unwelcome tool that allows multinational corporations to put pressure on public interest decision-making, it is also incompatible with EU law.
US Federal District Court Judge Richard J. Leon has ordered Rusoro's $1.2 billion ICSID Expropriation award against Venezuela registered in the US.
The tribunal found that Novenergia’s investments were achieving a reasonable rate of return. However, the tribunal held that it was sufficient for the claim to succeed that Novenergia could show “quantifiable prejudice” compared with its position when it initially made its investment.
On 26 December 2017, the Commission published its decision that attacked the ECT claims brought by investors against Spain (and other EU states).
One tribunal could interpret the effect of legislative provisions differently to another. So while Eiser opens up the prospect of more claims, Blusun may narrow the basis for claims.
With the global financial crisis, solar power incentives schemes became unbearably costly and Spain repealed those incentives. Consequently, many investors brought arbitration claims under the Energy Charter Treaty.
The lawsuit requirements come down to the amount of compensation, which has been evaluated by independent experts at over $5 billion.
Despite the fact that the ECT was initiated and designed by the EU, there are compelling grounds to doubt the compatibility of the ECT’s arbitration clause with the principles underpinning the EU’s judicial system.
Starting this week, the Permanent Court of Arbitration panel will meet again to determine how much Canadian taxpayers will have to hand over to Bilcon.
