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October, 2012 By Aldo Orellana López, for NJGI In recent weeks Ecuadorian authorities and civil society have been hit with a worrying piece of news. The Ecuadorian state has been ordered to pay $ 1.7 billion plus interest to the U.S. Company Occidental Petroleum Corporation (Oxy) for having canceled its operating contract in 2006. The authorities’ argument at the time was that the company Source: Miningweekly.com By: Henry Lazenby 23rd October 2012 TORONTO (miningweekly.com) – TSX-listed South American Silver (SAS) on Tuesday said it had notified the Plurinational State of Bolivia of an investment dispute, after the company’s subsidiaries had lost its mineral tenements. The company’s announcement sent its shares racing up 32.53% or 27 Canadian cents on a day when the Toronto bourse closed 1.43% down. The Source: Thetyee.ca Toronto-based authority urges PM to halt ratification, laying out numerous ‘deep’ concerns. By Gus Van Harten, 16 Oct 2012, TheTyee.ca [Editor's note: Gus Van Harten, a global authority on investment trade deals and international arbitration panels, has written a letter to Prime Minister Stephen Harper urging a full public review of a highly controversial investment and promotion treaty with China, the world's second Source: Cnbc.com 17 Oct 2012 Europe and the United States are set to launch trade talks early next year to deepen the world’s largest trading relationship, EU and U.S. officials say, potentially unleashing billions of euros of new transatlantic business. Together, the bloc and the United States account for about half the world’s economic output and nearly a third of world trade. But a Source: Public Citizen October 16, 2012 In the most recent development in the historic case against Chevron’s appalling pollution in the Amazon, the U.S. Supreme Court refused to hear Chevron’s appeal of a lower court ruling last week. In so doing, the Supreme Court produced yet another denial of the company’s attempt to block an $18.2 billion dollar judgment against the company in Ecuador. Source: Thestar.com October 15, 2012 Jen Moore
The Harper government’s trade agenda is front and centre this parliamentary term as the Conservatives seek to open new markets. While coverage of Asia-Pacific and EU agreements dominate public debate, other bilateral agreements have been quietly making their way through Parliament. The House of Commons trade committee recently passed legislation to implement the Canada-Panama free Source: Brecorder.com October 07, 2012 The World Bank’s arbitration centre (ICSID) has ordered Ecuador to pay nearly $1.77 billion in damages to US-based Occidental Petroleum for seizing the company’s assets in 2006, but the Andean country said it would appeal the decision. It also ordered Ecuador to pay pre-award interest on the amount at the rate of 4.188 percent per annum, compounded annually from Source: Brecorder.com October 7th 2012 QUITO: Ecuador said Saturday it will appeal a ruling declaring it must pay $1.77 billion to Occidental Petroleum as compensation for canceling a contract with the American oil giant. That much money is equivalent to Ecuador’s entire education budget for a year, said President Rafael Correa. The ruling was released Friday by the International Center for Settlement of Investment Source: bilaterals.org October 8th 2012 TWN Info Service on WTO and Trade Issues (Oct12/02) Published in SUNS #7449 dated 2 October 2012 Geneva, 1 Oct (Meena Raman) — The damaging effects of Bilateral Investment Treaties (BITs) and the investment chapters of North-South Free Trade Agreements (FTAs) were highlighted at a World Trade Organisation (WTO) Public Forum held last week. The WTO Public Forum on Source: Theglobeandmail.com Oct. 03 2012 Bolivia ruled out paying compensation to South American Silver (SAS) on Wednesday, two months after its leftist government nationalized a mine operated by the Canadian firm. “The nation has no financial obligation to South American Silver,” Mining Minister Mario Virreira told reporters. Bolivia’s President Evo Morales expropriated the silver and indium mine managed by a local unit of SAS Source: Online.wsj.com October 1, 2012 QUITO, Ecuador–The World Bank’s International Center for Settlement of Investment Disputes is expected to rule this week on a case brought by U.S. oil company Occidental Petroleum Corp. (OXY) against Ecuador, Ecuador’s Attorney General Diego Garcia said Monday. “We are arriving at the final stage of the process,” Mr. Garcia told reporters in Quito. “The ruling will come by Source: Kansascity.com Sep. 28, 2012 Mimi Whitefield/Miami Herald U.S. Trade Representative Ron Kirk said Friday that he expects the long-delayed U.S.-Panama Free Trade Agreement to go into effect shortly. “We’re pretty close,’’ said Kirk, who addressed the Beacon Council, Miami-Dade’s public/private economic development agency. He said he was confident that before the end of the year, the U.S.-Panama Free Trade Agreement would be operating. |
Dispute Resolution Between Governments and Foreign Investors: Does the Current System Work? Join us for an Online Debate 
How they threaten communities and the environment, and how we can change them.
We provide this documentation from the ICSID web page for a critical analysis. It includes the list of cases that this tribunal has filed and managed historically and until 2009.
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