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.