Investor-State Dispute Settlement (ISDS) provisions in international trade and investment agreements – long abused by opportunists with means – are slowly being rejected by cautious governments.
To maintain the system, he proposes that business should shift away from ISDS in state-to state trade and investment agreements, and instead move to ISDS in contracts between individual investors and states.
AAG have confirmed they have submitted the claim by way of a request for arbitration to the International Centre for Settlement of Investment Disputes.
A London court has ordered Zimbabwe to pay US$125 million to two timber firms whose land was seized by the government, rejecting its claim of state immunity in a case that tests the enforcement of international arbitration awards.
Pakistan’s previous policy, initiated in 2021, sought to terminate its bilateral investment treaties to avoid further ISDS cases by international investors.