US trade officials are putting together a proposal to let the US withdraw from a corporate arbitration system at the heart of the North American Free Trade Agreement, upsetting big American companies that say the system protects their investments overseas.
In the last few months, the long-lasting dispute between Mr Pey Casado and the Foundation Presidente Allende and the Republic of Chile has seen numerous developments.
That concern is a real and serious one, but there is also a more direct and crude problem: parties (or their lawyers) bribing, or making backdoor deals with, the arbitrators to secure a favorable outcome.
Crystallex — owed $1.4 billion for the expropriation of its Venezuela mining subsidiary — has moved U.S. Federal Court in Delaware to seize Petroleos de Venezuela Holding, the parent company of PDVSA’s American unit Citgo Holding.