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2014-02-12  |  Janet Eaton

Zach Dyer. The Tico Times Feb 10.   After months of saber rattling, Infinito Gold, Ltd. announced Monday that it had filed for a Request for Arbitration with a World Bank court in its protracted dispute with the Costa Rican government over the canceled Las Crucitas gold mining concession. The concession was revoked in 2010 following environmental concerns and doubts about the concession’s legality. 

The Canadian mining company seeks to recoup at least $94 million in expenses incurred during the cancelled project’s development between 1993 and 2010, plus interest and legal fees, according to a statement released Monday. Originally Infinito Gold claimed $1 billion in lost profits, but the British Columbia-based enterprise has backed away from that number in the lawsuit.

The mining company claimed that...

2014-02-11  |  Janet Eaton
22 January 2014,Brid Brennan.  Transnational corporations, particularly gas & oil industry, and banking have continued to benefit extraordinarily from the ongoing economic and financial crisis, says Brid Brennan, who presents TNI's State of Power Report 2014 at the Public Eye Awards in Davos.

A speech by Brid Brennan, at the Public Eye Awards Press Conference, Davos, Switzerland January 23, 2014

TNI's 2014 State of Power Report, reveals that in the past year, transnational corporations (TNCs), particularly gas and oil industry and banking have continued to benefit extraordinarily...

2014-02-11  |  Janet Eaton

Published 11 February 2014.   Multinationals will have wide-ranging powers to sue EU states that enact health or environmental laws breaching their "legitimate expectations" of profit, according to a leaked ‘investment chapter’ from the Canada-EU free trade agreement (CETA), which was signed last November. 

A separate ‘nature and scope’ document for EU-US free trade talks, which EurActiv has seen, makes clear that similar parameters are foreseen for a Transatlantic Trade and Investment Partnership (TTIP) agreement.

The CETA investment chapter proposes a definition of ‘fair and equitable treatment’ (FET) for investors which has sparked multi-million dollar lawsuits, such as one by Lone Pine challenging a shale drilling ban by the Canadian state of Quebec.

EU officials have reportedly not challenged the...

2014-02-10  |  Janet Eaton

By Karen Hansen-Kuhn, IATP, February 3rd, 2014.  More than 65,000 people rallied at Mexico’s Monument to the Revolution and marched to the historic Zocalo Square to demand a new economy that puts equality, justice and human rights first. Farmers, union, environmental and women’s activists gathered in Mexico City last week to take stock of the lessons from NAFTA and plan strategies to confront the next big threat: the Trans Pacific Partnership (TPP). One of the earliest lessons from the NAFTA experience was that people and environments in all three countries were affected. The stories from Mexico, Canada and the U.S. were remarkably similar: environmental destruction, threats to union and community organizing, and, in all sectors, a marked increase in corporate concentration as companies gained new abilities to move...

2014-02-10  |  Janet Eaton

By Ruth Cowley, Svatava Sprague, Alfred Bridi

By losing its rights under a bilateral investment treaty against a sovereign due to corruptly securing its investment, Metal-Tech marks a seemingly growing trend of bribery playing a critical role in international investment arbitration disputes.

In a newly published award, an International Centre for Settlement of Investment Disputes (“ICSID”) tribunal unanimously rejected an investor’s claim against the Republic of Uzbekistan. This was on the grounds that an illegally-obtained investment contract based on corrupt payments by the investor to “consultants” linked to high ranking officials was in breach of the requirement for legal investments under the Israel-Uzbekistan bilateral investment treaty. This award highlights the growing relevance of corruption both in the context of national anti-bribery legislation and international investment frameworks – to the extent that...

            

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