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)

La Prensa | 19-Oct-2017
Autoridades panameñas evalúan investigar supuesta defraudación al sco, que habría revelado el demandante, en la compra de cuatro ncas en Bocas del Toro.
Kluwer Arbitration Blog | 13-Oct-2017
This first part begins with a review of the law governing entering and denouncing the ICSID Convention, as well as of an important debate on the effects of withdrawing from it.
Fundación Presidente Allende | 13-Oct-2017
Victims of human rights abuses by the Pinochet dictatorship have requested a committee of the World Bank’s International Center for the Settlement of Investment Disputes (ICSID) to annul an arbitral award.
CIAR Global | 10-Oct-2017
El arbitraje se inició ante la negativa de Cofide a brindar la financiación necesaria a la minera para continuar con la explotación del proyecto de la mina de oro Bandera Ollachea.
CIAR Global | 10-Oct-2017
Nicolás Boeglin contesta a nuestras preguntas y nos acerca, de manera crítica, al actual momento que vive el arbitraje de inversiones en el entorno latinoamericano.
IISD | 4-Oct-2017
The tribunal ordered Burlington to pay USD41 million in compensation to Ecuador for environmental and infrastructure damage.
El Cronista | 3-Oct-2017
La Argentina y Japón pusieron fin a las rondas de negociaciones destinadas a rubricar un acuerdo bilateral de inversiones.
Argus | 28-Sep-2017
Mexico is considering writing into law investor-state dispute settlement provisions contained in the North American Free Trade Agreement (Nafta) to reassure US and Canadian investors in its energy sector.
Gestión | 19-Sep-2017
Tribunal arbitral del Ciadi habría culminado con las actas correspondientes al arbitraje internacional, informó Bear Creek. Avanza con estudios del proyecto Corani.
Junior Mining Network | 19-Sep-2017
Tribunal hearing the Bear Creek Mining’s Santa Ana ICSID arbitration claim has officially closed proceedings in the case.

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