Vannessa drops all Las Cristinas Venezuelan appeals | 2-Aug-2004
In order to meet the requirements to submit its Las Cristanas dispute to international arbitration, junior explorationist Vanessa Ventures [VV] of Calgary, Alberta, has dropped five appeals to Venezuela’s Supreme Tribunal of Justice.
The recent explosion of bilateral investment and trade agreements and investor-state disputes is of growing concern. Many mobilisations against the World Trade Organisation (WTO) aim to stop attempts by industrialised countries to kickstart talks on a multilateral investment agreement at September’s Cancun Ministerial meeting.
Squire Patton Boggs has successfully defended the Republic of Estonia against a US$100 million investment treaty claim brought by Estonian water provider AS Tallinna Vesi and its Dutch shareholder United Utilities.