The US-based ridesharing services platform Uber Technologies and its Colombian subsidiary, Uber Colombia, have threatened to initiate arbitration proceedings against Colombia under the Colombia-US Trade Promotion Agreement.
At a time when 3,400 trade and investment agreements protect the interests of transnational corporations, there is no international treaty requiring them to uphold human rights and environmental protection.
The Swiss Federal Court has ordered Russia to pay CHF80 million ($82.1 million) in damages to 12 Ukrainian firms confiscated after the 2014 annexation of Crimea.
Pakistan has asked a US federal court to pause an Australian copper company’s bid to enforce a $6 billion arbitral award while it looks to have the award nixed.
Inspiring people fought toxic gold mines, dirty oil drilling and greedy luxury real estate projects. Now, costly investor-state dispute settlement (ISDS) lawsuits risk to reverse their community victories.
This termination agreement marks the culmination of the European Commission’s and several Member States’ efforts to abolish intra-EU investment arbitration proceedings from the European legal order.