The treaty enables companies to claim billions in compensation from states in front of international arbitration tribunals, if they feel unfairly treated by the states’ energy or climate policies.
Panthera said it has been “consistently frustrated over an extended period” by the government of Rajasthan, which has rejected Panthera’s application for a prospecting licence for the gold project.
The move signals the government’s resolve to defend its sovereign rights in taxation. The government has kept open possibility of settling the dispute within existing Indian laws.
A petition to ensure the Energy Charter Treaty will no longer be used against EU climate and energy policies is now available for supporters on the European Parliament website.
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues.
Chinese investors of PJSC Motor Sich have increased the preliminary cost of claims against Ukraine in international arbitration from $3.5 billion to $3.6 billion.
The Working Group’s focus was structural reforms, first selection and appointment of permanent or fixed-term adjudicators, then an appellate mechanism.
Ten years have passed since the judgment of Lago Agrio. Until today the oil company refuses to comply with the judgement; and, in turn, has chosen to activate a whole system that guarantees corporate impunity.
A Chinese-based construction company, Beijing Everyway Traffic and Lighting Tech Co Ltd is claiming USD55 million from Ghana for cancelling a contract it awarded it to develop an intelligent traffic management system for the country.