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)

Página 12 | 20-Jul-2017
El Ministerio de Finanzas entregará a la petrolera francesa Total bonos por 210 millones de dólares para finalizar el juicio que la compañía mantenía contra el país en el tribunal arbitral dependiente del Banco Mundial.
Reuters | 17-Jul-2017
La minera canadiense Crystallex ganó en una corte estadounidense una medida que prohíbe a la empresa china Haitong International Securities Group transfiera activos propiedad de Venezuela.
Reuters | 17-Jul-2017
Canadian miner Crystallex has won U.S. court approval to bar China’s Haitong International Securities Group Ltd from transferring securities owned by Venezuela, in a move to recoup damages from an expropriation by the OPEC nation.
DW | 14-Jul-2017
Bajo ese título publica REDES una nueva investigación que da cuenta de la fragilidad de los Estados frente a los mecanismos de solución de controversias, con impactos invisibilizados en las políticas públicas, los derechos y la soberanía para diseñar y ejecutar estrategias de desarrollo nacionales.
Entorno Inteligente | 12-Jul-2017
Un tribunal de apelaciones de Estados Unidos rechazó hoy la intención de la petrolera ExxonMobil de forzar a Venezuela a honrar las disposiciones de un arbitraje internacional vinculado con la expropiación de activos de esa compañía.
Kluwer Arbitration Blog | 12-Jul-2017
The ACFI model focuses on dispute prevention and bilateral governance, limiting arbitration to the State-to-State level.
CDE | 12-Jul-2017
La justice américaine a rejeté une requête d’ExxonMobil lui demandant d’ordonner au Venezuela d’honorer une décision internationale imposant à Caracas de lui verser 188 millions de dollars pour avoir nationalisé un actif pétrolier en 2007.
The Globe and Mail | 12-Jul-2017
A U.S. appeals court said a lower court judge erred in entering a judgment to enforce the $1.6-billion award, since reduced to about $188-million.
Analítica | 10-Jul-2017
La minera canadiense Gold Reserve informó el pasado 30 de junio sobre una nueva actualización de la tercera enmienda correspondiente a lo estipulado en el acuerdo de las negociaciones del laudo arbitral, a favor de la compañía, por el Ciadi, referido al proyecto Brisas.
Diario Correo | 10-Jul-2017
Los documentos presentados por la empresa ante el tribunal argumentan que el Aimarazo fue motivado por ambiciones políticas y la población de la zona afectada por el proyecto de extracción minera Santa Ana.

0 | 10 | 20 | 30 | 40 | 50 | 60 | 70 | 80 | ... | 530