Reform of investor-state dispute settlement (ISDS) is being deliberated at the United Nations Commission on International Trade Law (UNCITRAL) Working Group III, which will be meeting in New York between the 1st and 5th of April 2019.
The infamous story of the environmental pollution of the Ecuadorian Amazon by Chevron-Texaco – which has come to be known as the "Ecuadorian Chernobyl" - is entering a new phase.
Philip Morris, a US company, moved ownership of its Australian operations to Hong Kong to take advantage of ISDS in an Australia-Hong Kong investment treaty.
The Australia-Hong Kong Free Trade Agreement and separate Investment Agreement signed still give special rights to foreign investors to bypass national courts and sue governments for millions of dollars in international tribunals
The preferential protection of bilateral investments between Tanzania and the Netherlands is likely to cease next month but the protection for investments made before the date of termination continues to apply for a period of 15 years (until 1 April 2034).