The unusual status of foreign investors in international law is no accident, but rather the result of a “world-making project realized by a coalition of business leaders, bankers, and their lawyers in the 1950s and 1960s”.
The ICSID in the case Eugene Kazmin v. Latvia issued its Award discontinuing the arbitration and ordering the Claimant, Ukrainian citizen Kazmin, to bear the costs of the proceeding.
The removal of investor–state dispute settlement (ISDS) from the renegotiated NAFTA was a critical victory but Canada, the US and Mexico continue to be enmeshed in an extensive web of bilateral and regional accords containing ISDS.
Mining group Pathfinder Minerals said a dispute over the ownership of a mining title in Mozambique could see it incur estimated losses of more than $621.3 million.
The companies of the Philip Morris International group on December 21, 2020 filed a claim about bilateral investment arbitration against the government of Ukraine.
Cairn Energy has offered to invest the entire award money in India, which includes the principal amount of $1.2 billion and interest of $500 million if the government agrees to enforce the award.