First Quantum Minerals Ltd. is seeking $20 billion from Panama in a free trade arbitration case after the Central American nation shut down the company’s flagship copper mine late last year.
The Kuwaiti company Agility gets another opportunity to reclaim its legacy investment in an Iraqi telecom firm. The charges brought by Agility relate to more than $380 million in diverted funds.
Indiana Resources is closer to recovering its historical sunk investment for the unlawful expropriation of the Ntaka Hill nickel sulphide project after the ICSID struck out most of Tanzania’s grounds for requesting the annulment of the award.
The European Commission and Canada have agreed on the “interpretation” of parts of their trade agreement that relate to investor protection from environmental regulation, in a push by Brussels to persuade member states to ratify the bilateral multibillion-euro deal.
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.