Corporate globalisation and Covid-19 should also have taught developing countries that they must reject FTAs strengthening IPRs, ISDS and TNCs in order to secure policy space to ’build back better’.
The petition, filed by three investment firms related to Devas, argues that the award can be enforced in the US because India is a signatory to the New York Convention.
The EU-UK agreement contains limited protections for investors and no investor-state enforcement mechanism. Its dispute resolution mechanism is limited to a “WTO-like” state-to-state arbitration.
The High Court of Justice in the British Virgin Islands (BVI) has postponed the hearing on the enforcement of the $6 billion award in the Reko Diq case until the 18th January.
Italian businessmen Francesco Becchetti has stepped up his attempt to get the compensation awarded to him in international arbitration against Albania that he won, but that is under appeal.