Political party says the newly signed Trans-Pacific Partnership trade pact, which contains similar clauses to the Hong Kong deal, could prompt more costly challenges in The Hague
The International Court of Arbitration of the International Chamber of Commerce plans to offer its services for settling disputes among companies participating in China’s Belt and Road trade initiative.
ISDS is not only an unwelcome tool that allows multinational corporations to put pressure on public interest decision-making, it is also incompatible with EU law.
The tribunal found that Novenergia’s investments were achieving a reasonable rate of return. However, the tribunal held that it was sufficient for the claim to succeed that Novenergia could show “quantifiable prejudice” compared with its position when it initially made its investment.