Allegations of corruption and criminal activity have been used increasingly in recent years in French courts to argue for the setting aside of arbitral awards on the grounds of a breach of international public policy.
As India prepares to resume FTA talks with the EU, a recent landmark decision by the European Court of Justice on investor-state dispute settlement assumes importance.
‘IIA, which has a pro-investor bias, aims to protect only capital and not labour,’ said Saurabh Garg, the Joint Secretary in Indian Finance Ministry’s Department of Economic Affairs.
The withdrawal of Ecuador from these BITs responds to the final stage of a review process that started in 2008, and which had led to the establishment of a joint government-civil society audit commission.