November, 2010
Source: U.S.-El Salvador Sister Cities
Phase One of the Commerce Group vs. the Government of El Salvador Hearings Complete
On Monday, November 15th the Milwaukee based mining company Commerce Group and San Sebastian Mines Inc squared off against the government of El Salvador in the International Center for Settlement of Investment Disputes (ICSID), a part of the World Bank. The hearing was the first of what may be many more hearings, in the company´s $100 million case against the government of El Salvador. In 2006 the Salvadoran government revoked the company’s mining permits, following evidence that its operations were dumping highly toxic poisons into local water. In retaliation, Commerce Group filed a demand before the ICSID requesting not only payment for its investments but also for tens of millions of dollars in alleged “lost profits.” The suit is being filed under the foreign investor “protections” of the U.S.-Dominican Republic-Central America Free Trade Agreement (DR-CAFTA). read more
Also see:
Backgrounder CAFTA Investor Rights Undermining Democracy and the Environment: Commerce Group Case
58 Community organizations call on Commerce Group to drop $100 million lawsuit against El Salvador