The Turkish power firm Karkey Karadeniz Elektrik Uretim (KKEU) has approached the Washington based International Centre for Settlement of Investment Disputes (ICSID) against Pakistan’s water and power ministry and also served a Rs33billion damage notice on the ministry, sources said on Wednesday.
Concerns about objectivity and accountability of investment dispute arbitrators have prompted calls for tougher ethical guidelines as caseloads have exploded.
Latin American states are the only ones in the world that have decided to withdraw from the ICSID Convention. It is also the only region in the world considering the necessity to find an alternative to ICSID mechanism.
A new paper from the Democracy Center sheds an urgent public light on the system of international investment rules and arbitration tribunals that is being used by corporations to undermine citizen and government action on a range of urgent social and environmental issues.
Dispute settlements between investors and states saw 62 new cases initiated last year, the highest number of known treaty-based disputes filed in a year, according to a report by the United Nations Conference on Trade and Development (Unctad) in March.
Dispute settlements between investors and states saw 62 new cases initiated last year, the highest number of known treaty-based disputes filed in a year, according to a report by the United Nations Conference on Trade and Development (Unctad)
Uruguay faces its first hearings in the French capital this week in a lawsuit filed by US tobacco giant Philip Morris International against its anti-smoking laws, an official said on Monday.