In June 2000 the government in power signed a joint venture with Pakistan getting 25% and BHP getting bulk 75%. It was in violation of the internationally established practice of sharing half revenues.
UK registered mining company Lydian is using corporate courts to bully the Armenian government into cracking down on public protests that have successfully resisted a gold mine.
The Armenian government is currently being sued by a corporation for two thirds of its entire government budget. If the UK crashes out on 31 October, it could suffer a similar fate.
Parliament’s trade committee says it is alarmed by government’s failure ‘to set out even basic lines of policy’ on how international arbitration will work after Brexit.
Ukraine’s state energy group Naftogaz has asked the Hague Permanent Court of Arbitration to force the Russian Federation to pay the Ukrainian company $5.2 billion compensation for assets lost in annexed Crimea.
There is a high risk that New Zealand would still allow the investor to sue New Zealand in this expensive and discredited system of international investment arbitration
It is astounding that the Supreme Court judgment is being criticised due to an unfair award by the ICSID tribunal against Pakistan when that judgment is completely defensible.