Observers of the ISDS debate in Europe should be concerned when the official position of an Advocate General before the European Court of Justice can be tied to the ISDS industry.
Moldovan businessman Anatolie Stati will ask bailiffs to sell a $5.2 billion stake in the Kashagan oil field owned by a Kazakh sovereign wealth fund if Astana refuses to pay a $500 million arbitration award.
As the turbulence in the global economy and backlash against neoliberalism continues, opposition to the international investment regime and ISDS from the left seems destined to grow.
Lawyers for a Democratic Society sent a letter to the International Center for Settlement of Investment Disputes, demanding a speedy settlement of the dispute between the Korean government and the U.S. buyout fund Lone Star Funds.
Vodafone Group has said it would agree to consolidate its two international arbitrations initiated against India in connection with a tax demand of ₹11,000 crore, if the country were to agree as well.
The Opinion misses the much needed opportunity for a thorough and balanced reflection on the many challenges that ISDS, and investment disputes in general, pose to the EU legal and judicial system.
The recent Eiser v. Spain ICSID award is yet another example of a state being condemned to pay a large monetary sum merely because an investor has been economically disadvantaged by a reasonable and necessary regulatory change.