Bolivia’s experience has shown that attracting foreign investment does not by itself generate the expected development for host states and that, rather, it consists in a mechanism for financing and transferring resources from the South to the North.
The UNGPs set out a three-pillar framework: the state duty to protect human rights, the corporate responsibility to respect human rights, and access to remedy for victims of business-related abuses.
Luxembourg-based pipe producer Tenaris announced it won a $172.8 million compensation for the expropriation by Venezuela of Tenaris’ and its subsidiary Talta’s interests.
The revised model text for bilateral investment treaties has addressed many concerns, but to avoid litigations, India must renegotiate existing treaties on the basis of the new norms.
Le tribunal arbitral du Cirdi s’est déclaré incompétent pour juger le différend qui oppose le groupe espagnol de BTP et Malabo, dans le cadre d’une procédure déclenchée en 2012.
The ICSID, the World Bank’s international arbitration tribunal, ordered Argentina to pay 136.1 million dollars plus interest to the companies, EDF International, Saur International and León Participaciones Argentinas for breach of contract.
Argentina announced that it reached a $900 million preliminary accord to settle its pending debt with 50,000 Italian holders of defaulted Argentine government bonds. The Italian bondholders had sought about $2.5 billion at the ICSID.