Latin America

Latin American and Caribbean countries have signed almost 700 investment agreements. They have been targeted in almost 300 investor-state disputes.

Argentina has faced almost 62 ISDS cases, about 6% of all cases, making it the world’s most targeted state. Venezuela and Mexico have been among the ten most frequent respondents in the world, with 51 and 33 cases, respectively.

Many key cases such as Renco vs. Peru, Chevron vs. Ecuador or Pac Rim vs. El Salvador have originated in significant environmental damages caused by corporations. Philip Morris took an ISDS case against Uruguay over its anti-tobacco law.

Chile, Mexico and Peru are also party to the Trans-Pacific Partnership (TPP) with eight other Pacific Rim states. The TPP includes an investor-state dispute mechanism that undermines public-interest ‘safeguards’.

The most well-known cases ISDS cases in the region include:

Chevron (US) vs. Ecuador: For 26 years, Texaco, later acquired by Chevron, performed oil operations in Ecuador. Ecuadorian courts found that during that period the company dumped billions of gallons of toxic water and dug hundreds of open-air oil sludge pits in Ecuador’s Amazon, poisoning the communities of some 30,000 Amazon residents. After a legal battle spanning two decades, in November 2013, Ecuador’s highest court ordered the corporation to pay $9.5 billion to provide desperately needed clean-up and health care to afflicted indigenous communities. Chevron challenged the decisions produced by Ecuador’s domestic legal system before an ISDS tribunal. In 2018, the arbitration tribunal held that the $9.5 billion judgment was fraudulent, violated international public policy and should not be recognised or enforced by the courts of other States. The amount of the award has not been established yet. (Ecuador-United States BIT invoked)

Occidental Petroleum Corporation “Oxy” (US) vs. Ecuador: in 2012 Ecuador was ordered to pay US$1.77 billion to the investor, an oil exploration and production company, for breach of contract. Sentence was reduced to US$1 billion in November 2015 (Ecuador-United States BIT invoked).

Investors vs. Argentina: When Argentina froze its utility rates in response to its 2001-2002 financial crisis, it was hit by over 40 lawsuits from investors, including Suez & Vivendi (France), Sociedad General de Aguas de Barcelona S.A (Spain) and Anglian Water (UK). The ISDS tribunal concluded that Argentina had breached the investors’ right to fair and equitable treatment. By 2014, the country had been ordered to pay a total of US$980 million (various BITs invoked).

(April 2020)

AmeliaRueda.com | 29-May-2020
Costa Rica enfrenta un proceso de arbitraje internacional interpuesto por el empresario español Alejandro Diego Díaz Gaspar, quien pide $91 millones por el cierre (en 2016) de su planta procesadora de pollos, Ibérico, la cual se ubicaba en Grecia.
CIAR Global | 27-May-2020
Más de 40 proyectos relacionados con energías renovables son potencialmente susceptibles de entrar en conflicto con el gobierno mexicano, muchos de ellos podrán recurrir al arbitraje de inversiones
CIAR Global | 27-May-2020
La entidad financiera española AFC Investment Solutions SL ha presentado un arbitraje de inversiones contra Colombia por la liquidación forzosa de la entidad financiera Compañía de Financiamiento SA
CIAR Global | 26-May-2020
El 13 de mayo de 2020, el tribunal del arbitraje de inversiones entre Teco Guatemala Holdings, LLC contra la República de Guatamala emitió su laudo en el procedimiento de nueva sumisión en la larga historia de este arbitraje cuyos inicios nos retrotraen a 2010 en CIADI.
Morning Star | 26-May-2020
The dispute with Crystallex follows a ruling by the International Centre for Settlement of Investment Disputes (Icsid), an international arbitration institution set up by the World Bank.
CIAR Global | 19-May-2020
El 13 de mayo de 2020, la Secretaría del CIADI registró la presentación del arbitraje de la holandesa SMM Cerro Verde BV contra Perú invocando el Tratado Bilateral de Inversiones Países Bajos-Perú (1994).
CIAR Global | 14-May-2020
México podría afrontar diferentes reclamaciones de arbitraje de inversiones si el presidente Andrés Manuel López Obrador completa su política en relación con la energía renovable
CIAR Global | 14-May-2020
La compañía canadiense Espiritu Santo Holding, LP ha presentado un arbitraje de inversiones contra México, relacionado con reclamaciones sobre sus inversiones en una concesión de movilidad del sector del taxi (taxímetros) y una aplicación móvil en Ciudad de México.
DW | 8-May-2020
México ha concluido, en plena pandemia, la modernización de su acuerdo de asociación con la UE. Grandes oportunidades ven unos, más de lo mismo ven otros.
rfi | 5-May-2020
Tras dos años de negociación, México y la Unión Europea completaron la semana pasada el proceso de modernización de su tratado de libre comercio, que databa del año 2000. El nuevo TLCUEM deberá pasar por un largo proceso de ratificación pero ya levanta críticas por parte de organizaciones sociales.

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