Corporate lobby isolated in its strident defense of the controversial regime that was first inserted into US trade deals with NAFTA and that elevates individual corporations to equal status with nations.
On July 2016, a Partial Award dismissed the Renco Group Inc. v. The Republic of Peru case, indicating, however, that a new arbitration claim could be pursued against the State.
The Protection of Investment Act affords foreign investors no protections beyond domestic law, and pointedly disavows investor-state international arbitration. The SADC Protocol was also amended by the SADC Summit of heads of state and government.
How international investment treaties could promote more responsible investment and argues that, while some innovative practices are emerging, there is still much to do.
The key issue in the case concerned the proper interpretation of the dispute resolution provision in the 2003 Investment Law, which was the basis for jurisdiction.
African Petroleum Corp has begun arbitration proceedings over Gambia’s decision to strip the company of its rights to explore for oil in two offshore areas.
Tanzania is currently confronting this challenge, faced with a new international investment dispute tied to a proposed large-scale sugarcane and ethanol production project.
This far-flung peninsula in the North Atlantic seems an unlikely place for an international trade dispute. But an American company’s scuttled plans to build a quarry here have turned these quiet fishing grounds into a case study.