Latin America

Latin America countries have signed over 650 trade agreements. They have been the most targeted by investor-state disputes (ISDS). About 35% of all ICSID arbitration cases have involved a Latin American state.

Argentina itself has faced almost 60 ISDS disputes, about 9% of all cases, making it the most targeted state globally. Venezuela, Mexico and Ecuador have been among the ten most frequent respondents in the world.

Well-known cases such as Chevron vs. Ecuador or Pac Rim vs. El Salvador have originated in significant environmental damages caused by corporations. Philip Morris is currently suing Uruguay over its anti-tobacco law.

Besides, Chile, Mexico and Peru are party to the Trans-Pacific Partnership (TPP) with nine other Pacific Rim states. Its investment chapter has revealed the inclusion of ISDS provisions that would undermine public health, the environment and other public-interest ‘safeguards’.

The most well-known cases include:

• Chevron (US) vs. Ecuador: in 2013, an arbitration court ordered Ecuador to pay Chevron US$106 for breach of contract (Ecuador-United States BIT invoked). Meanwhile in a separate case, Ecuador’s highest court fined the oil giant US$9.5 billion for dumping billions of gallons of toxic waste into the rainforest. Both cases are unresolved.

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).

• National Grid PLC (United Kingdom) vs. Argentina: about US$50 million awarded in 2008 to the investor, a multinational electricity and gas utility company (Argentine-United Kingdom BIT invoked).

(October 2015)

Noticias Caracol | 20-Dec-2018
El Estado respondió así a la indemnización de 1.626 millones de pesos que exigió la multinacional española por la intervención de la empresa de servicios públicos.
CIAR Global | 14-Dec-2018
El conflicto está relacionado con la suspensión del proyecto de minería de oro Tambor, en San José del Golfo y San Pedro Ayampuc, y la reclamación estaría cifrada en 300 millones de dólares.
Argus | 14-Dec-2018
Former Canadian mining company Crystallex has resumed efforts to auction shares of Venezuelan-controlled US refiner Citgo and accused Caracas of breaching an earlier settlement to stave off the sale.
W Radio | 13-Dec-2018
Se establecieron los parámetros para que el país responda por una demanda por 40 millones de dólares que presentó una heredera de los dueños del Banco Granahorrar.
CIAR | 12-Dec-2018
El pasado 30 de noviembre, la compañía neerlandesa Aram Asset Management notificó su intención de acudir a arbitraje de inversiones contra el Gobierno de Perú en relación con la expropiación de sus negocios de comercialización de oro en 2013.
Reporterre | 12-Dec-2018
"Quand les multinationales attaquent les États " montre à travers trois affaires significatives combien les tribunaux d’arbitrage internationaux menacent l’intérêt général au profit des intérêts des multinationales.
KolectiVOZ Digital | 7-Dec-2018
Entrevista con Pablo Fajardo, abogado ambientalista de los demandantes a Chevron Texaco en Ecuador, quién nos cuenta sus actuales preocupaciones sobre el caso.
ALAI | 30-Nov-2018
Restringir la soberanía, limitar la capacidad de aplicar legislación y medidas administrativas, y permitir que empresas transnacionales actúen por sobre las leyes locales afectando derechos humanos y el medio ambiente.
Bloomberg | 27-Nov-2018
Venezuela made an partial payment of a settlement designed to resolve a $1.2 billion arbitration award to a bankrupt Canadian gold miner that’s laying claim to the assets of the parent of refiner Citgo Holding Inc. if it’s not paid in full.

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