International Economic Law and Policy Blog | 8-Mar-2017
The consequence of this decision is that investors would likely be put above all other victims of terrorism and related political violence in conflict areas. That is shocking from the perspective of international justice.
Examines how bilateral investment treaties and free trade agreements which contain specific investment provisions reflect geopolitical concerns and redefine rights and privileges for transnational corporations, including with respect to commercial control over biodiversity through intellectual property rights.
That concern is a real and serious one, but there is also a more direct and crude problem: parties (or their lawyers) bribing, or making backdoor deals with, the arbitrators to secure a favorable outcome.
Crystallex — owed $1.4 billion for the expropriation of its Venezuela mining subsidiary — has moved U.S. Federal Court in Delaware to seize Petroleos de Venezuela Holding, the parent company of PDVSA’s American unit Citgo Holding.