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)

Maroc Diplomatique | 6-Jul-2020
L’arbitrage international doit bonnement et simplement modérer ses pouvoirs aux fins de garantir les droits et l’autonomie des personnes et éviter les entorses qui seraient de nature à porter atteinte à la substance même des droits et des libertés.
Rebelión | 3-Jul-2020
Entrevista a Luciana Ghiotto, investigadora del Conicet y docente de la Unsam.
International Law Office | 2-Jul-2020
In a recently published decision, the Supreme Court – for the first time – partially annulled an arbitral award issued in an investment arbitration brought by Clorox España SL against Venezuela.
IIED | 22-Jun-2020
International investment law and investor dispute arbitration too often fail to notice the concerns of local actors. Governance of these international mechanisms needs to take a more holistic, development-based view of the issues.
Chile Mejor sin TLC | 19-Jun-2020
Quieren transformarse en víctimas y denunciar al Estado de Chile para no asumir los costos y que se les compense por supuestas pérdidas económicas, esto es posible por los TLCs y acuerdos de protección de inversiones que Chile ha suscrito
Observatoire des multinationales | 19-Jun-2020
Confronté à la perte d’un contrat dans la ville d’Osorno au Chili, le groupe Suez brandit la menace d’un recours aux tribunaux arbitraux.
CIAR Global | 16-Jun-2020
Suez amenaza con llevar el conflicto que mantiene con el gobierno chileno, a raíz de la apertura de un procedimiento para finalizar el contrato de concesión de su subsidiaria ESSAL en Osorno en agosto de 2019, a arbitraje de inversiones ante el Centro Internacional de Arreglo de Diferencias relativas a Inversiones (CIADI).
Gestión | 10-Jun-2020
De los 32 concesionarios que supervisa el Ositrán, 17 solicitaron la suspensión de sus obligaciones por “causa de fuerza mayor”.
Geopolitical Monitor | 5-Jun-2020
Ecuagoldmining’s estimated $20 million investment so far could turn into a $469 million award, should it emerge victorious in an arbitration proceeding.
Kluwer Arbitration Blog | 4-Jun-2020
A number of noteworthy decisions by the Paris Court of Appeal and French Supreme Court have come to refine on the now well-established French case law on international arbitration.

0 | 10 | 20 | 30 | 40 | 50 | 60 | 70 | 80 | ... | 1010