The World Bank’s ICSID ruled in favor of Uruguay in a suit filed by Philip Morris International seeking compensation for economic damages caused by the nation’s anti-tobacco measures.
The tribunal considered that the main and determinative reason for the 2011 restructuring was in order for the tobacco giant to bring a legal claim under the BIT Treaty, using a Hong Kong-based entity.
“Despite the losses and defeats, tobacco companies will keep coming back for more. They will fight on regardless in order to delay and disrupt the rollout of the World Health Organization’s best-practice tobacco control measures,”
Slovakia has made a step towards reversing an arbitration ruling over the ban of generating profits on private health insurers, the Finance Ministry says.
Private arbitral tribunals will be able to impose multi-million fines on States whose parliaments have dared to legislate without taking into account corporate expectations.
Tribunales privados de arbitraje podrán imponer multas multimillonarias a los Estados cuyos parlamentos hayan osado legislar sin tener en cuenta las expectativas de las empresas.
The inclusion of an ISDS in an EU agreement could raise the likelihood of such cases being brought against all kinds of public interest and health protecting policies in the future.
In amending the current rules, the ICSID aims to ultimately make the procedure less paper-intensive by using technology for the digital transmission of documents and case procedures.
South Korean state owned power utility Kowepo has begun international arbitration proceedings against India in Singapore for not honouring a fuel supply commitment to its Maharashtra power plant.
Climate campaigners are demanding that European Union countries pull out of the treaty unless they can negotiate an end to the pact’s investor-state dispute mechanism.
Plus de 280 organisations de la société civile réclament aux États membres du Traité sur la Charte de l’énergie de mettre fin aux protections dont dispose le secteur des énergies fossiles.
We – 278 environmental, climate, consumer, development, and trade related civil society groups, as well as trade unions – believe that the ECT is incompatible with the implementation of the Paris Climate Agreement.